Registered number
04871515
XEDI Ltd
Filleted Accounts
31 August 2024
XEDI Ltd
Registered number: 04871515
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 35,406 49,872
Current assets
Debtors 5 162,096 184,078
Cash at bank and in hand 14,154 54,059
176,250 238,137
Creditors: amounts falling due within one year 6 (52,026) (33,031)
Net current assets 124,224 205,106
Total assets less current liabilities 159,630 254,978
Creditors: amounts falling due after more than one year 7 (19,062) (29,097)
Provisions for liabilities (8,929) (8,929)
Net assets 131,639 216,952
Capital and reserves
Called up share capital 50,001 50,001
Profit and loss account 81,638 166,951
Shareholders' funds 131,639 216,952
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Graeme Howard
Director
Approved by the board on 3 February 2025
XEDI Ltd
Notes to the Accounts
for the year ended 31 August 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
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 from 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% on a reducing balance basis
Fixtures, fittings, tools and equipment 25% on a reducing balance basis
Computer equipment over 3 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
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.
Creditors
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 10 9
3 Intangible fixed assets £
Goodwill:
Cost
At 1 September 2023 30,795
At 31 August 2024 30,795
Amortisation
At 1 September 2023 30,795
At 31 August 2024 30,795
Net book value
At 31 August 2024 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 September 2023 97,655 50,203 147,858
At 31 August 2024 97,655 50,203 147,858
Depreciation
At 1 September 2023 84,651 13,335 97,986
Charge for the year 5,249 9,217 14,466
At 31 August 2024 89,900 22,552 112,452
Net book value
At 31 August 2024 7,755 27,651 35,406
At 31 August 2023 13,004 36,868 49,872
5 Debtors 2024 2023
£ £
Trade debtors 25,243 12,187
Debtors - Other taxes and social security costs 676 2,086
Other debtors 136,177 169,805
162,096 184,078
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 150 540
Taxation and social security costs 41,972 22,996
Other creditors 9,904 9,495
52,026 33,031
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 19,062 29,097
8 Other information
XEDI Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Riverside House
Kings Reach Road
Stockport
SK4 2HD
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