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Registration number: 14412289

Xtel Technology Sourcing Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

Xtel Technology Sourcing Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

Xtel Technology Sourcing Ltd

(Registration number: 14412289)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

709

788

Current assets

 

Stocks

5

28,660

2,414

Debtors

6

178,009

252,394

Cash at bank and in hand

 

43,662

76,821

 

250,331

331,629

Creditors: Amounts falling due within one year

7

(246,554)

(337,612)

Net current assets/(liabilities)

 

3,777

(5,983)

Total assets less current liabilities

 

4,486

(5,195)

Provisions for liabilities

(135)

(197)

Net assets/(liabilities)

 

4,351

(5,392)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

4,251

(5,492)

Shareholders' funds/(deficit)

 

4,351

(5,392)

For the financial year ending 31 December 2024 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.

 

Xtel Technology Sourcing Ltd

(Registration number: 14412289)
Balance Sheet as at 31 December 2024

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 21 August 2025 and signed on its behalf by:
 

.........................................
Mr A M A MacDonald
Director

 

Xtel Technology Sourcing Ltd

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

1

General information

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

The address of its registered office is:
City House
Suttton Park Road
Sutton
Surrey
SM1 2AE

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax payable and deferred tax.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Xtel Technology Sourcing Ltd

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet 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.

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

Plant and machinery

20% Straight line

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.

Debtors

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

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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.

 

Xtel Technology Sourcing Ltd

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

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 2).

4

Tangible assets

Plant and machinery
£

Total
£

Cost or valuation

At 1 January 2024

788

788

At 31 December 2024

788

788

Depreciation

Charge for the year

79

79

At 31 December 2024

79

79

Carrying amount

At 31 December 2024

709

709

At 31 December 2023

788

788

5

Stocks

2024
£

2023
£

Other inventories

28,660

2,414

6

Debtors

Current

2024
£

2023
£

Trade debtors

97,259

169,770

Prepayments

2,039

4,092

Other debtors

78,711

78,532

 

178,009

252,394

 

Xtel Technology Sourcing Ltd

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

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

48,531

47,776

Taxation and social security

4,652

29,130

Other creditors

193,371

260,706

246,554

337,612

8

Related party transactions

Other transactions with directors

As at 31 December 2024 the company owed the director £11,431 (2023: £33,153)