28 September 2023 v2025.63.1 limited_company_frs_102_section_1a_v1_1_2 companies_houseSoftwarefalsetruetruetrueNo description of principal activity00falsetruexbrli:purexbrli:sharesiso4217:GBP082187142023-09-282024-09-27082187142024-09-27082187142023-09-2708218714core:WithinOneYear2024-09-2708218714core:WithinOneYear2023-09-2708218714core:AfterOneYear2024-09-2708218714core:AfterOneYear2023-09-2708218714core:ShareCapital2024-09-2708218714core:ShareCapital2023-09-2708218714core:RetainedEarningsAccumulatedLosses2024-09-2708218714core:RetainedEarningsAccumulatedLosses2023-09-2708218714bus:Director12023-09-282024-09-2708218714bus:RegisteredOffice2023-09-282024-09-2708218714core:NetGoodwill2023-09-282024-09-2708218714core:NetGoodwill2023-09-2808218714core:IntangibleAssetsOtherThanGoodwill2023-09-28082187142023-09-2808218714core:IntangibleAssetsOtherThanGoodwill2024-09-2708218714core:IntangibleAssetsOtherThanGoodwill2023-09-2708218714core:PlantMachinery2023-09-2808218714core:PlantMachinery2023-09-282024-09-2708218714core:PlantMachinery2024-09-2708218714core:PlantMachinery2023-09-270821871412023-09-282024-09-270821871412023-09-282024-09-27082187142022-09-282023-09-2708218714countries:EnglandWales2023-09-282024-09-2708218714bus:AuditExemptWithAccountantsReport2023-09-282024-09-2708218714bus:PrivateLimitedCompanyLtd2023-09-282024-09-2708218714bus:SmallEntities2023-09-282024-09-2708218714bus:FullAccounts2023-09-282024-09-27
Company registration number:
08218714
Xnet Telecomms Services Ltd
Unaudited Filleted Financial Statements for the year ended
27 September 2024
Atrium Tax Consultancy Group Int'l Ltd
Office 6, 5a Signal Walk, London, E4 9BW, United Kingdom
Xnet Telecomms Services Ltd
Report to the board of directors on the preparation of the unaudited statutory financial statements of Xnet Telecomms Services Ltd
Year ended
27 September 2024
As described on the statement of financial position, the Board of Directors of
Xnet Telecomms Services Ltd
are responsible for the preparation of the
financial statements
for the year ended
27 September 2024
, which comprise the income statement, statement of income and retained earnings, statement of financial position and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006.
In accordance with your instructions I have compiled these unaudited
financial statements
in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to me.
Amended Accounts as per submission on 20/05/2021
Atrium Tax Consultancy Group Int'l Ltd
Office 6
5a Signal Walk
London
E4 9BW
United Kingdom
Date:
12 September 2025
Xnet Telecomms Services Ltd
Statement of Financial Position
27 September 2024
20242023
Note££
Fixed assets    
Intangible assets 5
1,000
 
1,000
 
Tangible assets 6
62,144
 
147,726
 
63,144
 
148,726
 
Current assets    
Debtors 7
263,060
 
204,079
 
Cash at bank and in hand
114,716
 
192,485
 
377,776
 
396,564
 
Creditors: amounts falling due within one year 8
(585,372
 )
(867,126
 )
Net current liabilities
(207,596
 )
(470,562
 )
Total assets less current liabilities (144,452 ) (321,836 )
Creditors: amounts falling due after more than one year 9
(98,783
 )
199,611
 
Net liabilities
(243,235
 )
(122,225
 )
Capital and reserves    
Called up share capital
1,000
 
1,000
 
Profit and loss account
(244,235
 )
(123,225
 )
Shareholders deficit
(243,235
 )
(122,225
 )
For the year ending
27 September 2024
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
  • 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;
  • The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
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.
These
financial statements
were approved by the board of directors and authorised for issue on
12 September 2025
, and are signed on behalf of the board by:
Mr P Kretteis
Director
Company registration number:
08218714
Xnet Telecomms Services Ltd
Notes to the Financial Statements
Year ended
27 September 2024

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
13 Newbury Road,
,
London
,
E4 9JH
, England.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Departure from Company Law

None

Transition to FRS 102

The entity transitioned from previous UK GAAP to FRS 102 as at 28 September 2022. Details of how FRS 102 has affected the reported financial position and financial performance is given in the transition to FRS 102 note.

Going concern

None

Consolidation

The entity has taken advantage of the option not to prepare consolidated
financial statements
contained in Section 398 of the Companies Act 2006 on the basis that the entity and its subsidiary undertakings comprise a small group.

Judgements and key sources of estimation uncertainty

None

Changes in accounting policies

None

Changes in accounting estimates

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Goodwill

Purchased goodwill arises on business acquisitions and represents the difference between the cost of acquisition and the fair values of the identifiable assets and liabilities acquired. Goodwill is initially recorded at cost, and is subsequently stated at cost less any accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over the useful economic life of the asset. Where a reliable estimate of the useful life of goodwill cannot be made, the life is presumed not to exceed five years.

Intangible assets

Intangible assets are initially measured at cost and are subsequently measured at cost less any accumulated amortisation and accumulated impairment losses or at a revalued amount. However, Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Any intangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Finance leases and hire purchase contracts

Assets held under finance leases are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.
Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Construction contracts

Where the outcome of construction contracts can be reliably estimated, contract revenue and contract costs are recognised by reference to the stage of completion of the contract activity as at the period end.
Where the outcome of construction contracts cannot be estimated reliably, revenue is recognised to the extent of contract costs incurred that it is probable will be recoverable, and contract costs are recognised as an expense in the period in which they are incurred.
The entity uses the percentage of completion method to determine the amounts to be recognised in the period. The stage of completion is measured by reference to the contract costs incurred up to the end of the reporting period as a percentage of total estimated costs for each contract. Costs incurred for work performed to date do not include costs relating to future activity, such as for materials or prepayments.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

Operating leases

A lease is classified as an operating lease if it does not transfer substantially all the risks and rewards incidental to ownership. Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

4 Average number of employees

The average number of persons employed by the company during the year was Nil (2023: Nil).

5 Intangible assets

GoodwillOther intangible assetsTotal
£££
Cost      
At
28 September 2023
10,600
 
1,000
 
11,600
 
Disposals
(10,600
 ) -  
(10,600
 )
At
27 September 2024
 -  
1,000
 
1,000
 
Amortisation      
At
28 September 2023
10,600
  -  
10,600
 
Disposals
(10,600
 ) -  
(10,600
 )
At
27 September 2024
 -   -   -  
Carrying amount      
At
27 September 2024
 -  
1,000
 
1,000
 
At 27 September 2023 -  
1,000
 
1,000
 

6 Tangible assets

Plant and machinery etc.
£
Cost  
At
28 September 2023
399,246
 
Additions
33,832
 
Disposals
(110,333
 )
At
27 September 2024
322,745
 
Depreciation  
At
28 September 2023
251,520
 
Charge
11,291
 
Disposals
(13,502
 )
Revaluations
11,292
 
At
27 September 2024
260,601
 
Carrying amount  
At
27 September 2024
62,144
 
At 27 September 2023
147,726
 
None

Tangible assets held at valuation

7 Debtors

20242023
££
Trade debtors
66,601
 
(37,230
 )
Other debtors
196,459
 
241,309
 
263,060
 
204,079
 

8 Creditors: amounts falling due within one year

20242023
££
Trade creditors
586,198
 
786,106
 
Taxation and social security
(826
 )
81,020
 
585,372
 
867,126
 
None

9 Creditors: amounts falling due after more than one year

20242023
££
Bank loans and overdrafts -  
236
 
Other creditors
98,783
 
(199,847
 )
98,783
 
(199,611
 )
None

10 Off-balance sheet arrangements

None