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REGISTERED NUMBER: 13055716 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 August 2024

for

We Are XI Limited

We Are XI Limited (Registered number: 13055716)






Contents of the Financial Statements
for the Year Ended 31 August 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


We Are XI Limited

Company Information
for the Year Ended 31 August 2024







DIRECTORS: Mr R H B Boydell
Mr J J Bunce





REGISTERED OFFICE: Brunel House
11 The Promenade
Clifton Down
Bristol
BS8 3NG





REGISTERED NUMBER: 13055716 (England and Wales)





ACCOUNTANTS: Wormald & Partners
Chartered Accountants (ICAEW)
Brunel House
11 The Promenade
Clifton Down
Bristol
BS8 3NG

We Are XI Limited (Registered number: 13055716)

Balance Sheet
31 August 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 1,382 1,454
Tangible assets 5 24,920 22,945
26,302 24,399

CURRENT ASSETS
Debtors 6 259,645 261,240
Cash at bank 56,598 62,559
316,243 323,799
CREDITORS
Amounts falling due within one year 7 138,989 187,589
NET CURRENT ASSETS 177,254 136,210
TOTAL ASSETS LESS CURRENT
LIABILITIES

203,556

160,609

PROVISIONS FOR LIABILITIES 6,032 4,176
NET ASSETS 197,524 156,433

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 196,524 155,433
SHAREHOLDERS' FUNDS 197,524 156,433

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 April 2025 and were signed on its behalf by:



Mr J J Bunce - Director


We Are XI Limited (Registered number: 13055716)

Notes to the Financial Statements
for the Year Ended 31 August 2024

1. STATUTORY INFORMATION

We Are XI 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of twenty years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance basis
Computer equipment - 33.33% on reducing balance basis

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

We Are XI Limited (Registered number: 13055716)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

4. INTANGIBLE FIXED ASSETS
Development
costs
£   
COST
At 1 September 2023
and 31 August 2024 1,667
AMORTISATION
At 1 September 2023 213
Amortisation for year 72
At 31 August 2024 285
NET BOOK VALUE
At 31 August 2024 1,382
At 31 August 2023 1,454

5. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 September 2023 22,054 11,001 33,055
Additions 884 5,973 6,857
At 31 August 2024 22,938 16,974 39,912
DEPRECIATION
At 1 September 2023 3,337 6,773 10,110
Charge for year 2,874 2,008 4,882
At 31 August 2024 6,211 8,781 14,992
NET BOOK VALUE
At 31 August 2024 16,727 8,193 24,920
At 31 August 2023 18,717 4,228 22,945

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 218,731 207,312
Other debtors 40,778 50,421
Prepayments 136 3,507
259,645 261,240

We Are XI Limited (Registered number: 13055716)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 51,821 44,646
Tax 5,172 -
Social security and other taxes 6,200 6,505
VAT 16,506 25,639
Pension 1,310 1,524
Intercompany Loan - Inurface Media Ltd 30,756 96,078
Intercompany - Hubit Technology Ltd 1,942 -
Accruals and deferred income 23,183 6,716
Accrued expenses 2,099 6,481
138,989 187,589