REGISTERED NUMBER: 08303221 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 November 2024

for

XAK Investments Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

M E Marshall

REGISTERED OFFICE:

The Mills

Canal Street

Derby

DE1 2RJ

REGISTERED NUMBER:

08303221 (England and Wales)

ACCOUNTANTS:

Bates Weston LLP

Chartered Accountants

The Mills

Canal Street

Derby

DE1 2RJ

FIXED ASSETS

Tangible assets

4

6,189

-

Investment property

5

3,221,723

4,258,723

3,227,912

4,258,723

CURRENT ASSETS

Debtors

6

3,307

2,195

Cash at bank

86,397

23,411

89,704

25,606

CREDITORS

Amounts falling due within one year

7

1,914,153

2,202,056

NET CURRENT LIABILITIES

(1,824,449

)

(2,176,450

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,403,463

2,082,273

CREDITORS

Amounts falling due after more than one year

8

(526,707

)

(982,564

)

PROVISIONS FOR LIABILITIES

10

(167,235

)

(177,066

)

NET ASSETS

709,521

922,643

CAPITAL AND RESERVES

Called up share capital

100

100

Fair value reserve

11

582,926

869,407

Retained earnings

11

126,495

53,136

SHAREHOLDERS' FUNDS

709,521

922,643

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 March 2025 and were signed by:

M E Marshall - Director

1.	STATUTORY INFORMATION

XAK Investments Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is the invoiced value of rents receivable during the period and is recognised in the period to which it relates to.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Investment property

Investment property is not depreciated but is revalued annually at its fair value in accordance with the Financial Reporting Standard 102 (Section 1A). Any aggregate surplus or deficit arising from changes in fair value is recognised in the profit and loss account and transferred to a fair value reserve.

Deferred taxation

Provision is made at current rates for taxation deferred in respect of all material timing differences, including provisions made for potential tax arising on assets which have been revalued.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

Additions

2,162

4,159

6,321

At 30 November 2024

2,162

4,159

6,321

DEPRECIATION

Charge for year

45

87

132

At 30 November 2024

45

87

132

NET BOOK VALUE

At 30 November 2024

2,117

4,072

6,189

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 December 2023

4,258,723

Disposals

(1,037,000

)

At 30 November 2024

3,221,723

NET BOOK VALUE

At 30 November 2024

3,221,723

At 30 November 2023

4,258,723

Fair value at 30 November 2024 is represented by:

£

Valuation in 2024

3,221,723

If investment property had not been revalued it would have been included at the following historical cost:

2024

2023

£

£

Cost

2,471,561

3,212,250

Aggregate depreciation

(471,437

)

(422,007

)

Investment property was valued on a fair value basis on 30 November 2024 by the director .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

209

-

Prepayments and accrued income

3,098

2,195

3,307

2,195

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

-

7,523

Trade creditors

10,980

-

Tax

5,811

2,902

Director's current account

1,891,814

2,184,312

Accruals and deferred income

5,548

7,319

1,914,153

2,202,056

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans - 1-2 years

-

7,912

Bank loans - 2-5 years

-

26,274

Bank loans - >5 years

-

207,436

Other loans - >5 years

526,707

740,942

526,707

982,564

Amounts falling due in more than five years:

Repayable by instalments

Bank loans - >5 years

-

207,436

Other loans - >5 years

526,707

740,942

526,707

948,378

9.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank loans

-

249,145

Other loans

526,707

740,942

526,707

990,087

The loans are secured by charges over the relevant properties concerned.

10.	PROVISIONS FOR LIABILITIES

2024

2023

£

£

Deferred tax

167,235

177,066

Deferred

tax

£

Balance at 1 December 2023

177,066

Utilised during year

(9,831

)

Balance at 30 November 2024

167,235

11.

RESERVES

Fair

Retained

value

earnings

reserve

Totals

£

£

£

At 1 December 2023

53,136

869,407

922,543

Deficit for the year

(213,122

)

(213,122

)

Transfer of realised profit

286,481

(286,481

)

-

At 30 November 2024

126,495

582,926

709,421