Registered number
07662874
X-Tech Medical Limited
Filleted Accounts
30 November 2024
X-Tech Medical Limited
Company Information
Director
M N Biro (resigned 28.03.2025)
Dr K Soni (appointed 03.03.2025)
Accountants
Anderson Griffin
Rotunda Buildings
Montpellier Exchange
Cheltenham
Glos
Registered office
Xograph House
Ebley Road
Stonehouse
Glos
Registered number
07662874
X-Tech Medical Limited
Registered number: 07662874
Balance Sheet
as at 30 November 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 7,631 15,813
Tangible assets 4 873,955 721,001
881,586 736,814
Current assets
Stocks 429,047 298,719
Debtors 5 1,139,859 947,712
Cash at bank and in hand 583,697 890,061
2,152,603 2,136,492
Creditors: amounts falling due within one year 6 (254,132) (246,166)
Net current assets 1,898,471 1,890,326
Net assets 2,780,057 2,627,140
Capital and reserves
Called up share capital 95 95
Capital redemption reserve 5 5
Profit and loss account 2,779,957 2,627,040
Shareholder's funds 2,780,057 2,627,140
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Dr K Soni
Director
Approved by the board on 31 August 2025
X-Tech Medical Limited
Notes to the Accounts
for the year ended 30 November 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 10 years, 5 years and 3 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 36 33
3 Intangible fixed assets £
Cost
At 1 December 2023 249,711
At 30 November 2024 249,711
Amortisation
At 1 December 2023 233,898
Provided during the year 8,182
At 30 November 2024 242,080
Net book value
At 30 November 2024 7,631
At 30 November 2023 15,813
Intangible fixed assets are being written off over the useful economic life of the asset on an individual basis.
4 Tangible fixed assets
Plant and machinery
£
Cost
At 1 December 2023 1,251,650
Additions 232,665
Disposals (1,400)
At 30 November 2024 1,482,915
Depreciation
At 1 December 2023 530,649
Charge for the year 79,877
On disposals (1,566)
At 30 November 2024 608,960
Net book value
At 30 November 2024 873,955
At 30 November 2023 721,001
5 Debtors 2024 2023
£ £
Trade debtors 513,100 367,224
Other debtors 626,759 580,488
1,139,859 947,712
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 115,459 78,833
Taxation and social security costs 32,912 49,789
Other creditors 105,761 117,544
254,132 246,166
7 Controlling party
The company is controlled by Dr P K Soni.
8 Other information
X-Tech Medical Limited is a private company limited by shares and incorporated in England. Its registered office is:
Xograph House
Ebley Road
Stonehouse
Glos
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