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REGISTERED NUMBER: 05174676 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

FOR

XS ELECTRICAL MATERIALS LIMITED

XS ELECTRICAL MATERIALS LIMITED (REGISTERED NUMBER: 05174676)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


XS ELECTRICAL MATERIALS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTORS: Mr V A Chruszcz
Mrs R A Chruszcz





REGISTERED OFFICE: 4 Kings Row
Armstrong Road
Maidstone
Kent
ME15 6AQ





REGISTERED NUMBER: 05174676 (England and Wales)





ACCOUNTANTS: Mackenzies, a Xeinadin company
1 Langley Court
Pyle Street
Newport
Isle of Wight
PO30 1LA

XS ELECTRICAL MATERIALS LIMITED (REGISTERED NUMBER: 05174676)

BALANCE SHEET
31 AUGUST 2024

2024 2023
Notes £ £ £
FIXED ASSETS
Tangible assets 4 1,757 2,343

CURRENT ASSETS
Stocks 5 360,046 380,120
Debtors 6 14,034 9,920
Cash at bank 7 7
374,087 390,047
CREDITORS
Amounts falling due within one year 7 392,616 399,209
NET CURRENT LIABILITIES (18,529 ) (9,162 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(16,772

)

(6,819

)

CREDITORS
Amounts falling due after more than one
year

8

9,640

19,908
NET LIABILITIES (26,412 ) (26,727 )

CAPITAL AND RESERVES
Called up share capital 10 1 1
Retained earnings (26,413 ) (26,728 )
SHAREHOLDERS' FUNDS (26,412 ) (26,727 )

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.

XS ELECTRICAL MATERIALS LIMITED (REGISTERED NUMBER: 05174676)

BALANCE SHEET - continued
31 AUGUST 2024


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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 May 2025 and were signed on its behalf by:





Mr V A Chruszcz - Director


XS ELECTRICAL MATERIALS LIMITED (REGISTERED NUMBER: 05174676)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024


1. STATUTORY INFORMATION

XS Electrical Materials 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.

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 - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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.

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 3 (2023 - 3 ) .

XS ELECTRICAL MATERIALS LIMITED (REGISTERED NUMBER: 05174676)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£ £ £ £
COST
At 1 September 2023
and 31 August 2024 805 2,630 2,517 5,952
DEPRECIATION
At 1 September 2023 786 1,326 1,497 3,609
Charge for year 5 326 255 586
At 31 August 2024 791 1,652 1,752 4,195
NET BOOK VALUE
At 31 August 2024 14 978 765 1,757
At 31 August 2023 19 1,304 1,020 2,343

5. STOCKS
2024 2023
£ £
Stocks 360,046 380,120

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 8,071 4,249
Prepayments 5,963 5,671
14,034 9,920

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loans and overdrafts 84,334 105,126
Other loans 74,500 46,500
Trade creditors 46,282 38,348
Social security and other taxes 306 13
VAT 5,805 3,832
Other creditors 92 126
Directors' loan accounts 179,790 203,757
Accrued expenses 1,507 1,507
392,616 399,209

Other creditors consists of pension contributions amounting to £92 (2023: £126).

XS ELECTRICAL MATERIALS LIMITED (REGISTERED NUMBER: 05174676)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£ £
Bank loans - 1-2 years 9,640 10,268
Bank loans - 2-5 years - 9,640
9,640 19,908

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£ £
Bank overdrafts 74,066 95,113

The bank overdraft is secured by a personal guarantee given by the director, Mr V Chruszcz.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
1 Ordinary £1 1 1

11. ULTIMATE CONTROLLING PARTY

The controlling party is Mr V A Chruszcz.