Company Registration No. 13290758 (England and Wales)
X16 SYSTEMS LTD
Unaudited accounts
for the year ended 31 March 2024
X16 SYSTEMS LTD
Unaudited accounts
Contents
X16 SYSTEMS LTD
Company Information
for the year ended 31 March 2024
Directors
Lee Thumwood
Nicholas Harris
Company Number
13290758 (England and Wales)
Registered Office
STEWARD HOUSE, 14 COMMERCIAL WAY
WOKING
GU21 6ET
ENGLAND
Accountants
Tanners Tax Accountants
Steward House
14 Commercial Way
Woking
Surrey
GU21 6ET
X16 SYSTEMS LTD
Statement of financial position
as at 31 March 2024
Tangible assets
42,026
1,345
Cash at bank and in hand
11,031
373
Creditors: amounts falling due within one year
(53,702)
(71,660)
Net current liabilities
(4,743)
(201)
Total assets less current liabilities
37,283
1,144
Creditors: amounts falling due after more than one year
(37,212)
-
Called up share capital
100
100
Profit and loss account
(29)
1,044
Shareholders' funds
71
1,144
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 21 July 2024 and were signed on its behalf by
Lee Thumwood
Director
Company Registration No. 13290758
X16 SYSTEMS LTD
Notes to the Accounts
for the year ended 31 March 2024
X16 SYSTEMS LTD is a private company, limited by shares, registered in England and Wales, registration number 13290758. The registered office is STEWARD HOUSE, 14 COMMERCIAL WAY, WOKING, GU21 6ET, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% reducing balance
Computer equipment
33% on cost
Expenditure on research and development is written off in the year in which it is incurred.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
X16 SYSTEMS LTD
Notes to the Accounts
for the year ended 31 March 2024
4
Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 April 2023
-
2,899
2,899
Additions
46,877
1,615
48,492
At 31 March 2024
46,877
4,514
51,391
At 1 April 2023
-
1,554
1,554
Charge for the year
6,793
1,018
7,811
At 31 March 2024
6,793
2,572
9,365
At 31 March 2024
40,084
1,942
42,026
At 31 March 2023
-
1,345
1,345
Amounts falling due within one year
Trade debtors
13,049
9,263
Accrued income and prepayments
-
60,139
Other debtors
24,879
1,684
6
Creditors: amounts falling due within one year
2024
2023
Obligations under finance leases and hire purchase contracts
9,816
-
Trade creditors
19,331
28,630
Taxes and social security
9,154
32,364
7
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
37,212
-
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
9
Average number of employees
During the year the average number of employees was 5 (2023: 4).