IXI 518 Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 04653868

IXI 518 Limited

Filleted Unaudited Financial Statements

31 January 2025

IXI 518 Limited

Statement of Financial Position

31 January 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	5		6,176	1,930

Current assets

Debtors	6	17,947	1,491
Cash at bank and in hand		363,444	241,156
		---------	---------
		381,391	242,647

Creditors: amounts falling due within one year	7	111,838		78,962
		---------		---------
Net current assets			269,553	163,685
			---------	---------
Total assets less current liabilities			275,729	165,615
			---------	---------
Net assets			275,729	165,615
			---------	---------

Capital and reserves

Called up share capital	110	110
Profit and loss account	275,619	165,505
	---------	---------
Shareholder funds	275,729	165,615
	---------	---------

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 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The member has 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 .

IXI 518 Limited

Statement of Financial Position (continued)

31 January 2025

These financial statements were approved by the board of directors and authorised for issue on 3 October 2025 , and are signed on behalf of the board by:

Mrs A Sheppard

Director

Company registration number: 04653868

IXI 518 Limited

Notes to the Financial Statements

Year ended 31 January 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Limelight, First Floor, Studio 3, Elstree Way, Borehamwood, WD6 1JH.

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.

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.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. 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.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

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:

Fixtures and fittings	-	25% reducing balance
Equipment	-	25% reducing balance

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2024: 2 ).

5. Tangible assets

	Fixtures and fittings	Equipment	Total
	£	£	£
Cost
At 1 February 2024	4,420	12,298	16,718
Additions	–	6,305	6,305
	-------	--------	--------
At 31 January 2025	4,420	18,603	23,023
	-------	--------	--------
Depreciation
At 1 February 2024	3,620	11,168	14,788
Charge for the year	200	1,859	2,059
	-------	--------	--------
At 31 January 2025	3,820	13,027	16,847
	-------	--------	--------
Carrying amount
At 31 January 2025	600	5,576	6,176
	-------	--------	--------
At 31 January 2024	800	1,130	1,930
	-------	--------	--------

6. Debtors

	2025	2024
	£	£
Trade debtors	16,345	–
Other debtors	1,602	1,491
	--------	-------
	17,947	1,491
	--------	-------

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	58	47
Corporation tax	45,991	16,823
Social security and other taxes	14,412	6,384
Other creditors	51,377	55,708
	---------	--------
	111,838	78,962
	---------	--------

8. Related party transactions

The company was under the control of Mrs A Sheppard throughout the current and previous year. Mrs A Sheppard is the managing director and sole shareholder. No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard FRS 102 (Section 1A).