2023-07-012024-06-302024-06-30false134371624-XTRA TECHNOLOGIES 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4-XTRA TECHNOLOGIES LIMITED

Registered Number
13437162
(England and Wales)

Unaudited Financial Statements for the Year ended
30 June 2024

4-XTRA TECHNOLOGIES LIMITED
Company Information
for the year from 1 July 2023 to 30 June 2024

Directors

GYARMATI-SZABO, Janos
MAIRAJ, Arshad Khawar, Dr.

Registered Address

Nexus
Discovery Way
Leeds
LS2 3AA

Registered Number

13437162 (England and Wales)
4-XTRA TECHNOLOGIES LIMITED
Statement of Financial Position
30 June 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3567907
567907
Current assets
Debtors43,32110,547
Cash at bank and on hand65,193104,719
68,514115,266
Creditors amounts falling due within one year5(234,756)(78,305)
Net current assets (liabilities)(166,242)36,961
Total assets less current liabilities(165,675)37,868
Creditors amounts falling due after one year6-(136,500)
Net assets(165,675)(98,632)
Capital and reserves
Called up share capital11
Share premium320,110150,000
Profit and loss account(485,786)(248,633)
Shareholders' funds(165,675)(98,632)
The financial statements were approved and authorised for issue by the Board of Directors on 26 March 2025, and are signed on its behalf by:
MAIRAJ, Arshad Khawar, Dr.
Director
Registered Company No. 13437162
4-XTRA TECHNOLOGIES LIMITED
Notes to the Financial Statements
for the year ended 30 June 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Going concern
The directors believe that the company has adequate resources to continue in operational existence for the foreseeable future. The company continues to have the support of the directors, shareholders and creditors and therefore continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Defined contribution pension plan
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in other creditors in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to the Income Statement
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Office Equipment3
Financial instruments
The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
2.Average number of employees

20242023
Average number of employees during the year31
3.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 July 231,0201,020
At 30 June 241,0201,020
Depreciation and impairment
At 01 July 23113113
Charge for year340340
At 30 June 24453453
Net book value
At 30 June 24567567
At 30 June 23907907
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables-6,825
Other debtors3,3213,722
Total3,32110,547
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables64,57225,739
Taxation and social security4,294776
Other creditors148,6241,570
Accrued liabilities and deferred income17,26650,220
Total234,75678,305
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. Included within creditors, amounts falling due within one year, are convertible loan notes of £147,624. The loan notes are convertible under agreed conditions into £0.000001 Ordinary shares or repayable on 15th December 2025, whichever is sooner. Post year end the convertible loan notes were converted into shares on 13 November 2024.
6.Creditors: amounts due after one year

2024

2023

££
Other creditors-136,500
Total-136,500
Included within creditors, amounts falling due after one year, are convertible loan notes of £Nil (2023 - £136,500).
7.Pension commitments
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date, unpaid contributions of £1,000 (2023 - £1,570) were due to the fund. They are included in other creditors.
8.Related party transactions
Included within administration expenses are consultancy fees of £60,000 paid in respect of services provided by Mr D I Potter, a former director. Included within administration expenses are consultancy fees of £36,000 paid in respect of services provided by Dr J Gyarmati-Szabo, a director and shareholder. Included within administration expenses are consultancy fees of £5,018 paid in respect of services provided by Magnetic North Associates Limited, a shareholder.