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REGISTERED NUMBER: 03854989 (England and Wales)
















Financial Statements

for the Year Ended 31 December 2024

for

Xait Ltd

Xait Ltd (Registered number: 03854989)

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










Page

Company Information 1

Report of the Accountants 2

Balance Sheet 3

Notes to the Financial Statements 5


Xait Ltd

Company Information
for the Year Ended 31 December 2024







DIRECTORS: K Geraghty
E Gudmundsen
F Skavland





REGISTERED OFFICE: Festival House
Jessop Avenue
Cheltenham
Gloucestershire
GL50 3SH





REGISTERED NUMBER: 03854989 (England and Wales)





ACCOUNTANTS: Xeinadin South Wales & West Limited
701 Stonehouse Park
Sperry Way
Stonehouse
Gloucestershire
GL10 3UT

Xait Ltd

Report of the Accountants to the Directors of
Xait Ltd


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements and the related notes from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements and state those matters that we have agreed to state to the Board of Directors, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that the Company has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit. You consider that the Company is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of the Company. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Xeinadin South Wales & West Limited


20 May 2025

Xait Ltd (Registered number: 03854989)

Balance Sheet
31 December 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 17,996 4,357

CURRENT ASSETS
Stocks 25,990 47,998
Debtors 5 1,210,374 1,389,557
Cash at bank 891,513 518,133
2,127,877 1,955,688
CREDITORS
Amounts falling due within one year 6 1,116,906 1,062,971
NET CURRENT ASSETS 1,010,971 892,717
TOTAL ASSETS LESS CURRENT LIABILITIES 1,028,967 897,074

PROVISIONS FOR LIABILITIES 2,857 -
NET ASSETS 1,026,110 897,074

CAPITAL AND RESERVES
Called up share capital 1,402 1,402
Share premium 24,650 24,650
Retained earnings 1,000,058 871,022
SHAREHOLDERS' FUNDS 1,026,110 897,074

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

Xait Ltd (Registered number: 03854989)

Balance Sheet - continued
31 December 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 May 2025 and were signed on its behalf by:




E Gudmundsen - Director



F Skavland - Director


Xait Ltd (Registered number: 03854989)

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


1. STATUTORY INFORMATION

Xait Ltd 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 - 50% on cost and 25% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

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 14 (2023 - 10 ) .

Xait Ltd (Registered number: 03854989)

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


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2024 44,002
Additions 20,217
At 31 December 2024 64,219
DEPRECIATION
At 1 January 2024 39,645
Charge for year 6,578
At 31 December 2024 46,223
NET BOOK VALUE
At 31 December 2024 17,996
At 31 December 2023 4,357

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 400,343 810,801
Amounts owed by group undertakings 207,837 395,677
Other debtors 602,194 183,079
1,210,374 1,389,557

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 5,836 40,200
Taxation and social security 185,157 118,932
Other creditors 925,913 903,839
1,116,906 1,062,971