REGISTERED NUMBER: 03475259 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

XL UK LTD

Page

Balance sheet

1

Notes to the financial statements

2

Fixed assets

Tangible assets

4

2,163

2,517

Current assets

Debtors

5

26,537

14,441

Cash at bank

31,487

35,289

58,024

49,730

Creditors

Amounts falling due within one year

6

43,615

47,103

Net current assets

14,409

2,627

Total assets less current liabilities

16,572

5,144

Creditors

Amounts falling due after more than one year

7

(1,250

)

(4,250

)

Provisions for liabilities

8

(411

)

(478

)

Net assets

14,911

416

Capital and reserves

Called up share capital

9

100

100

Retained earnings

14,811

316

Shareholders' funds

14,911

416

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Statement of comprehensive income has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 September 2025 and were signed by:

Mr C Brown - Director

1.	Statutory information

XL UK Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 03475259. The registered office is 7 & 8 Church Street, Wimborne, Dorset, BH21 1JH and business address is 3 Thistlebarrow Road, Bournemouth, Dorset, BH7 7AJ.

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.

Turnover

Turnover represents amounts receivable, in respect of services provided in the ordinary course of business, net of VAT. Turnover is recognised as soon as the service has been provided to the customer.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Taxation

Taxation for the year 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 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 year 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.

Financial instruments

Basic financial instruments are initially recognised at transaction price and accounted for according to the substance of the contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company, after deducting all liabilities.

At each balance sheet date, financial instruments are measured at amortised cost using the effective interest method. Any losses arising from impairment are recognised in the profit and loss account in the period to which they relate.

3.	Employees and directors

The average number of employees during the year was 1 (2023 - 1 ) .

4.	Tangible fixed assets

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

Cost

At 1 January 2024

491

5,067

5,558

Additions

108

336

444

Disposals

-

(183

)

(183

)

At 31 December 2024

599

5,220

5,819

Depreciation

At 1 January 2024

275

2,766

3,041

Charge for year

81

640

721

Eliminated on disposal

-

(106

)

(106

)

At 31 December 2024

356

3,300

3,656

Net book value

At 31 December 2024

243

1,920

2,163

At 31 December 2023

216

2,301

2,517

5.

Debtors: amounts falling due within one year

2024

2023

£

£

Directors' current accounts

23,004

14,441

VAT

733

-

Prepayments and accrued income

2,800

-

26,537

14,441

6.

Creditors: amounts falling due within one year

2024

2023

£

£

Bank loans and overdrafts

3,000

3,000

Trade creditors

803

642

Tax

37,942

37,720

VAT

-

1,534

Accruals and deferred income

1,870

4,207

43,615

47,103

7.

Creditors: amounts falling due after more than one year

2024

2023

£

£

Bank loans - 1-2 years

1,250

3,000

Bank loans - 2-5 years

-

1,250

1,250

4,250

8.	Provisions for liabilities

2024

2023

£

£

Deferred tax

411

478

Deferred

tax

£

Balance at 1 January 2024

478

Credit to Income statement during year

(67

)

Balance at 31 December 2024

411

9.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

100

Ordinary

£1

100

100

10.	Director's advances, credits and guarantees

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

2024

2023

£

£

Mr C Brown

Balance outstanding at start of year

14,441

15,634

Amounts advanced

77,198

77,842

Amounts repaid

(68,635

)

(79,035

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

23,004

14,441

At the balance sheet date the Director, Mr C Brown, owed the company £23,004 (2023: £14,441). The amount outstanding at the balance sheet date was repaid in full within 9 months of the year end.

11.	Ultimate controlling party

Mr C Brown, is considered to be the ultimate controlling party by virtue of his 100 % ownership of the issued share capital.