5XTechnologies Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: NI638255

5XTechnologies Ltd

Filleted Unaudited Financial Statements

31 December 2024

5XTechnologies Ltd

Balance Sheet

31 December 2024

	2024	2023
Note	£	£

Fixed assets

Tangible assets	5	571,139	556,851

Current assets

Stocks		7,000	7,500
Debtors	6	6,446	7,812
Cash at bank and in hand		297	29,000
		--------	--------
		13,743	44,312

Creditors: amounts falling due within one year	7	67,586	226,671
		--------	---------
Net current liabilities		53,843	182,359
		---------	---------
Total assets less current liabilities		517,296	374,492

Creditors: amounts falling due after more than one year	8	603,573	444,990
		---------	---------
Net liabilities		( 86,277)	( 70,498)
		---------	---------

Capital and reserves

Called up share capital	100	100
Profit and loss account	( 86,377)	( 70,598)
	--------	--------
Shareholders deficit	( 86,277)	( 70,498)
	--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the 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 financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

5XTechnologies Ltd

Balance Sheet (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 26 September 2025 , and are signed on behalf of the board by:

Ryan McClure

Director

Company registration number: NI638255

5XTechnologies Ltd

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 7 Carnhill Crescent, Carnmoney, Newtownabbey, BT36 6LG.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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 financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Significant judgements There are no judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies that have a significant effect on the amounts recognised in the financial statements. Key sources of estimation uncertainty Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. There are no key assumptions or other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year .

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, 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.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation 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 equity, except to the extent 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 equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Short leasehold property	-	20% straight line
Plant and machinery	-	20% reducing balance
Fixtures and fittings	-	20% reducing balance
Computers	-	33% reducing balance

Impairment of fixed assets

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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units .

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the balance sheet 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.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares .

Defined contribution plans

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. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).

5. Tangible assets

	Short leasehold property	Plant and machinery	Fixtures and fittings	Computers	Total
	£	£	£	£	£
Cost
At 1 January 2024	18,000	647,336	1,747	15,642	682,725
Additions	–	35,910	–	–	35,910
	--------	---------	-------	--------	---------
At 31 December 2024	18,000	683,246	1,747	15,642	718,635
	--------	---------	-------	--------	---------
Depreciation
At 1 January 2024	12,600	98,558	995	13,721	125,874
Charge for the year	3,600	16,875	150	997	21,622
	--------	---------	-------	--------	---------
At 31 December 2024	16,200	115,433	1,145	14,718	147,496
	--------	---------	-------	--------	---------
Carrying amount
At 31 December 2024	1,800	567,813	602	924	571,139
	--------	---------	-------	--------	---------
At 31 December 2023	5,400	548,778	752	1,921	556,851
	--------	---------	-------	--------	---------

6. Debtors

	2024	2023
	£	£
Trade debtors	5,168	7,752
Other debtors	1,278	60
	-------	-------
	6,446	7,812
	-------	-------

7. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	3,372	3,289
Trade creditors	6,147	161
Social security and other taxes	–	288
Other creditors	58,067	222,933
	--------	---------
	67,586	226,671
	--------	---------

8. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Bank loans and overdrafts	1,718	5,090
Other creditors	601,855	439,900
	---------	---------
	603,573	444,990
	---------	---------

9. Financial instruments

The carrying amount for each category of financial instrument is as follows:

	2024	2023
	£	£

Financial assets measured at fair value through profit or loss

Financial assets measured at fair value through profit or loss	297	29,000
	----	--------