Company Registration No. 11469892 (England and Wales)
Xp Property Ltd
Unaudited accounts
for the year ended 31 July 2024
Xp Property Ltd
Unaudited accounts
Contents
Xp Property Ltd
Company Information
for the year ended 31 July 2024
Directors
Benjamin Richards
Jack Jiggens
Company Number
11469892 (England and Wales)
Registered Office
Central Suites
12-14 Hart Street
Henley-on-Thames
Oxfordshire
RG9 2AU
England
Accountants
P10 Accountancy Ltd
77A Richmond Road
Twickenham
TW1 3AW
Xp Property Ltd
Statement of financial position
as at 31 July 2024
Investment property
250,000
-
Investments
585,004
585,000
Cash at bank and in hand
1,347
2,779
Creditors: amounts falling due within one year
(922,902)
(616,682)
Net current liabilities
(489,230)
(185,785)
Total assets less current liabilities
346,118
399,215
Creditors: amounts falling due after more than one year
(347,088)
(180,000)
Net (liabilities)/assets
(970)
219,215
Called up share capital
100
100
Profit and loss account
(1,070)
219,115
Shareholders' funds
(970)
219,215
For the year ending 31 July 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 30 April 2025 and were signed on its behalf by
Benjamin Richards
Director
Company Registration No. 11469892
Xp Property Ltd
Notes to the Accounts
for the year ended 31 July 2024
Xp Property Ltd is a private company, limited by shares, registered in England and Wales, registration number 11469892. The registered office is Central Suites, 12-14 Hart Street, Henley-on-Thames, Oxfordshire, RG9 2AU, 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:
Computer equipment
33% Straight Line
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Xp Property Ltd
Notes to the Accounts
for the year ended 31 July 2024
The tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible.
The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
4
Tangible fixed assets
Computer equipment
Net gain from fair value adjustments
38,780
6
Investments
Subsidiary undertakings
Valuation at 1 August 2023
585,000
Valuation at 31 July 2024
585,004
Amounts falling due within one year
Trade debtors
22,338
10,680
Amounts due from group undertakings etc.
242,232
237,049
Accrued income and prepayments
12,014
237
Other debtors
130,172
130,172
Xp Property Ltd
Notes to the Accounts
for the year ended 31 July 2024
8
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
9,222
27,000
Trade creditors
4,183
9,000
Amounts owed to group undertakings and other participating interests
364,033
241,268
Taxes and social security
11,445
11,074
Other creditors
438,478
237,641
Loans from directors
90,257
90,257
9
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
347,088
180,000
10
Transactions with related parties
At the balance sheet date the company/was owed the following amount from related party companies:
At the balance sheet date the company was due £8 (2023: £0.50) from St Helens Milling Company
At the balance sheet date the company was due £16,520 (2023: £15,980) from Hyde End Road Developments Ltd
At the balance sheet date the company was due £2,316 (2023: £2,318) from XP 2 Developments Ltd
At the balance sheet date the company was due £94,362 (2023: £8,225) from XP Surveys Ltd
At the balance sheet date the company was due £20,000 (2023: £33,750) from XP 5 Developments Ltd
At the balance sheet date the company was due £96 from XP Group Holdings Ltd
At the balance sheet date the company was due £35,000 from XP 10 Development
At the balance sheet date the company was due £5 from Central Suites Limited
At the balance sheet date the company owed £4 (2023: £6,000) to XP 6 Developments Ltd
At the balance sheet date the company owed £510 (2023: £510) to XP Sonnet Developments Ltd
At the balance sheet date the company owed £101,966 (2023: £87,000) to Aura Homes Ltd
At the balance sheet date the company owed £152,208 (2023: £146,862) to XP Estates Ltd
At the balance sheet date the company owed £84,345 to XP 9 Developments Ltd
At the balance sheet date the company owed £25,000 to XP 3 Developments Ltd
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Average number of employees
During the year the average number of employees was 4 (2023: 5).