XRC_Ltd_31_Mar_2025_companies_house_set_of

XRC Ltd

Report to the board of directors on the preparation of the unaudited statutory financial statements of XRC Ltd

Year ended

31 March 2025

In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the

financial statements

XRC Ltd

for the year ended

31 March 2025

which comprise the income statement, statement of financial position and related notes from the company’s accounting records and from information and explanations you have given me.

As a practising member of the Association of Chartered Certified Accountants, I am subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/content/dam/ACCA_Global/Members/Doc/rule/2018-rulebook.pdf.

This report is made solely to the Board of Directors of

XRC Ltd

, as a body, in accordance with the terms of my engagement letter dated 3 July 2023. My work has been undertaken solely to prepare for your approval the

financial statements

XRC Ltd

and state those matters that I have agreed to state to the Board of Directors of

XRC Ltd

, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/tf-163-jan-24.pdf. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than

XRC Ltd

and its Board of Directors, as a body, for my work or for this report.

It is your duty to ensure that

XRC Ltd

has kept adequate accounting records and to prepare statutory

financial statements

that give a true and fair view of the assets, liabilities, financial position and profit of

XRC Ltd

. You consider that

XRC Ltd

is exempt from the statutory audit requirement for the year.

I have not been instructed to carry out an audit or a review of the financial statements of XRC Ltd. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements.

Dalton Smith Accountants

Chartered Certified Accountant

Cemetery House

Colne Road, Trawden

Colne

Lancashire

BB8 8NU

United Kingdom

Date:

26 September 2025

XRC Ltd

Statement of Financial Position

31 March 2025

		2025		2024
	Note	£		£
Fixed assets
Tangible assets	5	242,508		194,852
Current assets
Debtors	6	1,300		1,300
Cash at bank and in hand		102		15,593
		1,402		16,893
Creditors: amounts falling due within one year	7	(5,500	)	(5,500	)
Net current (liabilities)/assets		(4,098	)	11,393
Total assets less current liabilities		238,410		206,245
Creditors: amounts falling due after more than one year	8	(203,005	)	(224,946	)
Provisions for liabilities		(9,200	)	-
Net assets/(liabilities)		26,205		(18,701	)
Capital and reserves
Called up share capital		100		100
Profit and loss account		26,105		(18,801	)
Shareholders funds/(deficit)		26,205		(18,701	)

For the year ending

31 March 2025

, 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

26 September 2025

, and are signed on behalf of the board by:

Mr D Housley

Director

Company registration number:

13252004

XRC Ltd

Notes to the Financial Statements

Year ended

31 March 2025

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

20 Wenlock Road

London

N1 7GU

, 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.

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.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.

Any tangible assets carried at a revalued amount 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 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.

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

Fixtures, fittings and equipment

20% straight line

Investment properties

Investment property is measured initially at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are 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.

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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured on an undiscounted basis at the tax rates that would apply in the periods in which timing differences are expected to reverse, based on tax rates and laws enacted at the statement of financial position date.

Provisions for liabilities

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

4 Average number of employees

The average number of persons employed by the company during the year was

(2024:

1.00

5 Tangible assets

	Land and buildings	Plant and machinery etc.	Total
	£	£	£
Cost or valuation
At 1 April 2024	191,580	4,741	196,321
Revaluations	48,420	-	48,420
At 31 March 2025	240,000	4,741	244,741
Depreciation
At 1 April 2024	-	1,469	1,469
Charge	-	764	764
At 31 March 2025	-	2,233	2,233
Carrying amount
At 31 March 2025	240,000	2,508	242,508
At 31 March 2024	191,580	3,272	194,852

Investment property

Included in land and buildings are the following amounts in relation to investment properties:

	2025
	£
Carrying amount at 1 April 2024	191,580.00
Fair value adjustments	48,420
Carrying amount at 31 March 2025	240,000

6 Debtors

	2025		2024
	£		£
Other debtors	1,300		1,300

7 Creditors: amounts falling due within one year

	2025		2024
	£		£
Other creditors	5,500		5,500

8 Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Other creditors	203,005		224,946