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Company registration number: |
13734361
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XG EXPRESS LTD
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| REPORT OF THE DIRECTOR'S AND |
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| FINANCIAL STATEMENTS |
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| FOR THE YEAR ENDED 30 November 2024 |
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| XG EXPRESS LTD |
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| BALANCE SHEET |
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| AS AT 30 November 2024
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2024 |
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2023 |
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Notes |
£ |
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£ |
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£ |
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£ |
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| CURRENT ASSETS |
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| Stocks | | | | 2,043 | | | | 1,200 | | | | |
| Debtors | | | | 1,433 | | | | 1,768 | | | | |
| Cash at bank and in hand | | | | 83,307 | | | | 95,091 | | | | |
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| | | | | 86,783 | | | | 98,059 | | | |
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| CREDITORS |
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| Amounts falling due within one year |
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(58,235) |
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(67,806) |
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| NET CURRENT ASSETS |
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28,548 |
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30,253 |
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| TOTAL ASSETS LESS |
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| CURRENT LIABILITIES |
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28,548 |
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30,253 |
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| NET ASSETS |
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28,548 |
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30,253 |
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| CAPITAL AND RESERVES |
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| Called-up equity share capital |
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100 |
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100 |
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| Profit and loss account |
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28,448 |
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30,153 |
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| SHAREHOLDERS FUNDS |
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28,548 |
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30,253 |
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| For the year ending 30 November 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. | | | | | | | |
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| The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. | | | | | | | |
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| The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of the accounts. | | | | | | | |
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| All the members have consented to the preparation of abridged financial statements for the year ended 30 November 2024 in accordance with Section 444(2A) of the Companies Act 2006. | | | | | | | |
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| The profit and loss account has not been delivered to the Registrar of Companies in accordance with the special provisions applicable to companies subject to the small companies' regime. | | | | | | | |
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| These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006. Approved by the board of directors on 27 May 2025 and signed on its behalf. | | | | | | | |
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| .......................................................................... |
| X Chen |
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27 May 2025
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| The annexed notes form part of these financial statements. | | | | | | | |
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XG EXPRESS LTD |
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NOTES TO THE FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 NOVEMBER 2024 |
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| 1. |
Accounting policies |
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Basis of preparing the financial statements |
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The financial statements have been prepared under the historical cost convention in accordance with the accounting policies set out below. These financial statements have been prepared in accordance with FRS102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
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| Turnover | | | | | | | | | |
| Turnover comprises the value of goods and services supplied by the company, net of Value Added Tax. | |
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| Fixed Assets | | | | | | | | |
| Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following bases: | |
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| Fixtures, Fittings & Equipment - 20% on cost basis | |
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| Stocks and Work In Progress | | | | | | | |
| Stocks are valued at the lower of cost and net realisable value. | |
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| Deferred Taxation | | | | | | | | |
| Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of all material timing differences. | |
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| Pension Scheme | | | | | | | | |
| The company operates a statutory contribution pension scheme. The pension charge is the amount payable by the company to the fund in respect of the year. | |
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| 2. | Employees | | | |
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| The average number of persons employed by the company (including directors) during the year was 7. |
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3. | Related Party Transactions | | | | | | | | |
| The director has provided an interest-free loan to the company. The balance outstanding at the balance sheet date was £32,843 (2023 : £42,264).. There are no formal terms for repayment of this loan. It is therefore, included in its entirety within Creditors; Amounts falling due within one year. During the year the company paid a dividend of £40,000 to its director. | |
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| 4. | Pension costs | | | | | | | | |
| The company operates a statutory contribution scheme for its employees. The assets of the scheme are held separately from those of the company in an independently administered fund. | |
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