IRIS Accounts Production v25.1.4.42 10143111 director 1.1.24 30.12.24 30.12.24 0 0 false true false false true false iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh 10143111 2023-12-31 10143111 2024-12-30 10143111 2024-01-01 2024-12-30 10143111 2022-12-31 10143111 2023-01-01 2023-12-31 10143111 2023-12-31 10143111 ns15:EnglandWales 2024-01-01 2024-12-30 10143111 ns14:PoundSterling 2024-01-01 2024-12-30 10143111 ns10:Director1 2024-01-01 2024-12-30 10143111 ns10:PrivateLimitedCompanyLtd 2024-01-01 2024-12-30 10143111 ns10:SmallEntities 2024-01-01 2024-12-30 10143111 ns10:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-30 10143111 ns10:SmallCompaniesRegimeForDirectorsReport 2024-01-01 2024-12-30 10143111 ns10:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-30 10143111 ns10:FullAccounts 2024-01-01 2024-12-30 10143111 ns10:RegisteredOffice 2024-01-01 2024-12-30 10143111 ns5:CurrentFinancialInstruments 2024-12-30 10143111 ns5:CurrentFinancialInstruments 2023-12-31 10143111 ns5:ShareCapital 2024-12-30 10143111 ns5:ShareCapital 2023-12-31 10143111 ns5:RetainedEarningsAccumulatedLosses 2024-12-30 10143111 ns5:RetainedEarningsAccumulatedLosses 2023-12-31 10143111 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2024-12-30 10143111 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2023-12-31 10143111 ns5:Secured 2024-12-30 10143111 ns5:Secured 2023-12-31

REGISTERED NUMBER: 10143111 (England and Wales)

Financial Statements for the Period 1 January 2024 to 30 December 2024

for

X1 The Campus Limited

| X1 The Campus Limited (Registered number: 10143111) |

Contents of the Financial Statements

for the Period 1 January 2024 to 30 December 2024

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 3 |

| X1 The Campus Limited |

Company Information

for the Period 1 January 2024 to 30 December 2024

| DIRECTOR: | Mrs L Smith

| REGISTERED OFFICE: | 27 Old Haymarket

| Liverpool

| Merseyside

| L1 6ER

| REGISTERED NUMBER: | 10143111 (England and Wales)

| ACCOUNTANTS: | Cobham Murphy PHD Limited

| 116 Duke Street

| Liverpool

| L1 5JW

| X1 The Campus Limited (Registered number: 10143111) |

Balance Sheet

30 December 2024

| 30.12.24 |  | 31.12.23

| Notes | £ | £ |

CURRENT ASSETS

Stocks | 5,293,370 |  | 16,348,440 |  |

Debtors | 4 | 10,083,896 |  | 12,532,671 |  |

Cash at bank | 5,396,860 |  | 315,874 |  |

20,774,126 |  | 29,196,985 |  |

CREDITORS

Amounts falling due within one year | 5 | 16,371,473 |  | 26,790,701 |  |

NET CURRENT ASSETS | 4,402,653 |  | 2,406,284 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 4,402,653 |  | 2,406,284 |  |

PROVISIONS FOR LIABILITIES | - |  | 120,112 |  |

NET ASSETS | 4,402,653 |  | 2,286,172 |  |

CAPITAL AND RESERVES

Called up share capital | 100 |  | 100 |  |

Retained earnings | 4,402,553 |  | 2,286,072 |  |

SHAREHOLDERS' FUNDS | 4,402,653 |  | 2,286,172 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 December 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

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 director and authorised for issue on 18 September 2025 and were signed by:

Mrs L Smith - Director

| X1 The Campus Limited (Registered number: 10143111) |

Notes to the Financial Statements

for the Period 1 January 2024 to 30 December 2024

1. | STATUTORY INFORMATION

| X1 The Campus Limited 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.

| The presentation currency of the financial statements is the Pound Sterling (£).

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.

| At the time of approving the financial statements and having due regard to the impact of covid-19, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus, the directors continue to adopt a going concern basis of accounting in preparing the financial statements.

| The company is able to pay its debts as they fall due and has the financial support from its parent company and group.

| Significant judgements and estimates

| The preparation of these financial statements in accordance with FRS 102 requires the use of certain critical accounting estimates. Estimates and and judgements are continually evaluated and are based on historical experience, current knowledge and expectations of future events.

| Key accounting estimates- provisions

| Upon the sale of property to an investor the company guarantees a return of a specified amount for a specified period of time. The rental income received on the property may not always meet the liability due to running costs and vacant periods so a provision is made against this cost. The provision is reviewed and updated annually. The provision at 31 December 2024 is nil.

| Turnover

| The company's turnover, derived from ordinary activities and excluding VAT where applicable, represents property income from the sale of developed properties and freehold land and buildings. Income from property sales is recognised when the sale completes and legal title passes to the buyer.

| 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.

| Financial instruments

| Other loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method.

| Directors loans and intercompany loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

| Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit and loss.

| X1 The Campus Limited (Registered number: 10143111) |

Notes to the Financial Statements - continued

for the Period 1 January 2024 to 30 December 2024

2. | ACCOUNTING POLICIES - continued

| Taxation

| Taxation for the period 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.

| Deferred tax

| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

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

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the period was NIL (2023 - NIL).

4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 30.12.24 |  | 31.12.23

£ | £ |

| Trade debtors | 5,000 |  | - |  |

| Amounts owed by group undertakings | 2,302,756 |  | 340,992 |  |

| Amounts owed by participating interests | 7,370,445 |  | - |  |

| Other debtors | 405,695 |  | 12,191,679 |  |

10,083,896 |  | 12,532,671 |  |

5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 30.12.24 |  | 31.12.23

£ | £ |

| Bank loans and overdrafts | 16,417 |  | - |  |

| Payments on account | 4,354,280 |  | 15,375,920 |  |

| Trade creditors | 1,436,950 |  | 1,775,963 |  |

| Amounts owed to group undertakings | - |  | 8,006,160 |  |

| Amounts owed to participating interests | 6,683,516 |  | - |  |

| Taxation and social security | 603,577 |  | - |  |

| Other creditors | 3,276,733 |  | 1,632,658 |  |

16,371,473 |  | 26,790,701 |  |

| X1 The Campus Limited (Registered number: 10143111) |

Notes to the Financial Statements - continued

for the Period 1 January 2024 to 30 December 2024

6. | SECURED DEBTS

| The following secured debts are included within creditors:

| 30.12.24 |  | 31.12.23

£ | £ |

| Other loans | - |  | 323,161 |  |

| Loans are secured against land and buildings in work in progress.

7. | RELATED PARTY DISCLOSURES

| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

| At the balance sheet date the company is owed £9,673,201 (2023 £340,992) by related parties and owes £6,683,516 (2023 £8,006,160) to related parties.

8. | ULTIMATE CONTROLLING PARTY

| At the balance sheet date the immediate parent company is X1 Management Limited, registered office 116 Duke Street, Liverpool L1 5JW.

| After 30 December 2024 the immediate parent company is X1 Property Management Limited.

| Lisa Smith is the controlling party by virtue of her shareholding in the parent company, X1 Management Limited.