Xenon Workplace Ltd
Company Registration No. 12227664 (England And Wales)
Unaudited Financial Statements
Year Ended 30 September 2024
XENON WORKPLACE LTD
Xenon Workplace Ltd
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
XENON WORKPLACE LTD
Xenon Workplace Ltd
BALANCE SHEET
AS AT
30 SEPTEMBER 2024
30 September 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
9,459
21,700
Current assets
Stocks
72,000
97,000
Debtors
4
809,688
1,250,862
Cash at bank and in hand
101,445
11,541
983,133
1,359,403
Creditors: amounts falling due within one year
5
(706,651)
(1,045,424)
Net current assets
276,482
313,979
Total assets less current liabilities
285,941
335,679
Creditors: amounts falling due after more than one year
6
(3,956)
(7,555)
Provisions for liabilities
(2,365)
(2,336)
Net assets
279,620
325,788
Capital and reserves
Called up share capital
100
100
Revaluation reserve
7
406
Profit and loss reserves
279,114
325,688
Total equity
279,620
325,788
XENON WORKPLACE LTD
Xenon Workplace Ltd
BALANCE SHEET (CONTINUED)
AS AT
30 SEPTEMBER 2024
30 September 2024
- 2 -
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 25 July 2025
Mr D Kearns
Director
Company registration number 12227664 (England and Wales)
XENON WORKPLACE LTD
Xenon Workplace Ltd
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 3 -
1
Accounting policies
Company information
Xenon Workplace Ltd is a private company limited by shares incorporated in England and Wales. The registered office is c/o Drake House, Gadbrook Park, Northwich, Cheshire, CW9 7RA.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
These financial statements are prepared on the going concern basis. The director has a reasonable expectation that the company will continue in operational existence for the foreseeable future.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Computers
33% straight line
Livestock
Held at fair value
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
XENON WORKPLACE LTD
Xenon Workplace Ltd
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.5
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
1.6
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
1.7
Cash and cash equivalents
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.
1.8
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include trade debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including trade creditors and other creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction.
1.9
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
XENON WORKPLACE LTD
Xenon Workplace Ltd
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 5 -
1.10
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current 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.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
1.11
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.12
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.13
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
XENON WORKPLACE LTD
Xenon Workplace Ltd
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 6 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
6
6
3
Tangible fixed assets
Computers
Livestock
Total
£
£
£
Cost
At 1 October 2023
17,457
25,781
43,238
Additions
689
689
Revaluation
(16,781)
(16,781)
At 30 September 2024
18,146
9,000
27,146
Depreciation and impairment
At 1 October 2023
12,944
8,594
21,538
Depreciation charged in the year
4,743
4,743
Impairment losses
8,593
8,593
Revaluation
(17,187)
(17,187)
At 30 September 2024
17,687
17,687
Carrying amount
At 30 September 2024
459
9,000
9,459
At 30 September 2023
4,513
17,187
21,700
XENON WORKPLACE LTD
Xenon Workplace Ltd
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 7 -
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
108,427
668,661
Other debtors
635,985
382,998
Prepayments and accrued income
65,276
199,203
809,688
1,250,862
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
4,065
4,506
Trade creditors
108,841
554,814
Corporation tax
127,966
100,163
Other taxation and social security
463,038
383,361
Accruals and deferred income
2,741
2,580
706,651
1,045,424
6
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Bank loans and overdrafts
3,956
7,555
7
Revaluation reserve
2024
2023
£
£
At the beginning of the year
Other movements
406
-
At the end of the year
406
-
XENON WORKPLACE LTD
Xenon Workplace Ltd
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 8 -
8
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2024
2023
£
£
18,125
32,625
9
Directors' transactions
During the year the Director advanced the company £469,602 (2023: £142,970) and was repaid £470,207 (2023: £437,814). At 30 September 2024 the Director owed £337,026 (2023: £336,422) to the Company. Interest has been charged to the Director in respect of this loan which is repayable on demand and classified in debtors due within one year.