XceCo Limited 10403237 false 2024-04-01 2025-03-31 2025-03-31 The principal activity of the company is Governance of wind farms. Digita Accounts Production Advanced 6.30.9574.0 true 10403237 2024-04-01 2025-03-31 10403237 2025-03-31 10403237 bus:OrdinaryShareClass1 2025-03-31 10403237 core:RetainedEarningsAccumulatedLosses 2025-03-31 10403237 core:ShareCapital 2025-03-31 10403237 core:CurrentFinancialInstruments 2025-03-31 10403237 core:CurrentFinancialInstruments core:WithinOneYear 2025-03-31 10403237 core:OfficeEquipment 2025-03-31 10403237 bus:SmallEntities 2024-04-01 2025-03-31 10403237 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 10403237 bus:FilletedAccounts 2024-04-01 2025-03-31 10403237 bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 10403237 bus:RegisteredOffice 2024-04-01 2025-03-31 10403237 bus:Director1 2024-04-01 2025-03-31 10403237 bus:Director2 2024-04-01 2025-03-31 10403237 bus:OrdinaryShareClass1 2024-04-01 2025-03-31 10403237 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 10403237 core:RetainedEarningsAccumulatedLosses 2024-04-01 2025-03-31 10403237 core:ShareCapital 2024-04-01 2025-03-31 10403237 core:OfficeEquipment 2024-04-01 2025-03-31 10403237 core:OtherRelatedParties 2024-04-01 2025-03-31 10403237 countries:AllCountries 2024-04-01 2025-03-31 10403237 2024-03-31 10403237 core:RetainedEarningsAccumulatedLosses 2024-03-31 10403237 core:ShareCapital 2024-03-31 10403237 core:OfficeEquipment 2024-03-31 10403237 2023-04-01 2024-03-31 10403237 2024-03-31 10403237 bus:OrdinaryShareClass1 2024-03-31 10403237 core:RetainedEarningsAccumulatedLosses 2024-03-31 10403237 core:ShareCapital 2024-03-31 10403237 core:CurrentFinancialInstruments 2024-03-31 10403237 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 10403237 core:OfficeEquipment 2024-03-31 10403237 core:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 10403237 core:ShareCapital 2023-04-01 2024-03-31 10403237 2023-03-31 10403237 core:RetainedEarningsAccumulatedLosses 2023-03-31 10403237 core:ShareCapital 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 10403237

XceCo Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2025

 

XceCo Limited

Contents

Balance Sheet

1 to 2

Statement of Changes in Equity

3

Notes to the Financial Statements

4 to 7

 

XceCo Limited

(Registration number: 10403237)
Balance Sheet as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

20,580

21,083

Current assets

 

Stocks

5

35,000

-

Debtors

6

517,112

261,770

Cash at bank and in hand

 

378,143

377,813

 

930,255

639,583

Creditors: Amounts falling due within one year

7

(555,531)

(491,491)

Net current assets

 

374,724

148,092

Total assets less current liabilities

 

395,304

169,175

Provisions for liabilities

(5,145)

(5,271)

Net assets

 

390,159

163,904

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

390,059

163,804

Shareholders' funds

 

390,159

163,904

For the financial year ending 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 19 June 2025 and signed on its behalf by:
 

 

XceCo Limited

(Registration number: 10403237)
Balance Sheet as at 31 March 2025

.........................................
Mr B Bradley
Director

.........................................
Mr T Lyon
Director

 

XceCo Limited

Statement of Changes in Equity for the Year Ended 31 March 2025

Share capital
£

Retained earnings
£

Total
£

At 1 April 2024

100

163,804

163,904

Profit for the year

-

926,255

926,255

Gifts to XceCo Employee Ownership Trust

-

(700,000)

(700,000)

At 31 March 2025

100

390,059

390,159

Share capital
£

Retained earnings
£

Total
£

At 1 April 2023

100

196,119

196,219

Profit for the year

-

867,685

867,685

Gifts to XceCo Employee Ownership Trust

-

(900,000)

(900,000)

At 31 March 2024

100

163,804

163,904

 

XceCo Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

1

General information

The Company is a private company limited by share capital, incorporated in England .

The address of its registered office is:
Forrester Boyd
26 South St. Mary's Gate, Grimsby
North East Lincolnshire
DN31 1LW

The principal place of business is:
Renewables Operations Base
North Quay
Grimsby
N E Lincolnshire
DN31 3SY

These financial statements were authorised for issue by the Board on 19 June 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

These financial statements cover the individual entity, Xceco Limited.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in sterling and are rounded to the nearest pound.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

XceCo Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office Equipment

15% straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 14 (2024 - 12).

 

XceCo Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

4

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 April 2024

41,332

41,332

Additions

7,654

7,654

At 31 March 2025

48,986

48,986

Depreciation

At 1 April 2024

20,248

20,248

Charge for the year

8,158

8,158

At 31 March 2025

28,406

28,406

Carrying amount

At 31 March 2025

20,580

20,580

At 31 March 2024

21,083

21,083

5

Stocks

2025
£

2024
£

Work in progress

35,000

-

6

Debtors

Current

2025
£

2024
£

Trade debtors

490,494

253,590

Prepayments

25,118

4,680

Other debtors

1,500

3,500

 

517,112

261,770

7

Creditors

Creditors: amounts falling due within one year

2025
£

2024
£

Due within one year

Trade creditors

21,525

5,888

Taxation and social security

450,606

407,095

Accruals and deferred income

76,479

70,207

Other creditors

6,921

8,301

555,531

491,491

 

XceCo Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

8

Share capital

Allotted, called up and fully paid shares

2025

2024

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

9

Related party transactions

Summary of transactions with other related parties

XceCo Employee Ownership Trust

On 28th March 2023 75% of the issued share capital of the company was acquired by the XceCo Employee Ownership Trust ("The Trust"). The Trust holds shares for the future benefit of the Company's employees.

During 2025 a gift of £700,000 (2024: £900,000) was made by the company to the Trust.