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Registered number: 12230736 CXP OFFICIAL LTD UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
CXP OFFICIAL LTD REGISTERED NUMBER: 12230736 BALANCE SHEET AS AT 31 DECEMBER 2024
|  | 2024 |  | 2023
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Intangible assets | 4 |  | 106,181 |  | 104,887
Tangible assets | 5 |  | - |  | 286
|  |  | 106,181 |  | 105,173
Current assets |  |  |  |  |
Stocks |  | 192,275 |  | 38,000 |
Debtors: amounts falling due within one year | 6 | 25,913 |  | 19,315 |
Cash at bank and in hand |  | 182,114 |  | 294,678 |
|  | 400,302 |  | 351,993 |
Creditors: amounts falling due within one year | 7 | (76,463) |  | (4,601) |
Net current assets |  |  | 323,839 |  | 347,392
Total assets less current liabilities |  |  | 430,020 |  | 452,565
Capital and reserves |  |  |  |  |
Called up share capital | 8 |  | 2,417 |  | 1,995
Share premium account |  |  | 1,936,798 |  | 1,303,229
Profit and loss account |  |  | (1,509,195) |  | (852,659)
|  |  | 430,020 |  | 452,565
Page 1
CXP OFFICIAL LTD REGISTERED NUMBER: 12230736 BALANCE SHEET (CONTINUED) AS AT 31 DECEMBER 2024 The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf on 7 November 2025.
T J Austin
Director
The notes on pages 3 to 8 form part of these financial statements. Page 2
CXP OFFICIAL LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
1. | General information
CXP Official Limited is a private company limited by shares, incorporated in England and Wales (registered number: 12230736). Its registered office is 310 Zellig Building, Gibb Street, Birmingham, West Midlands, England, S9 1TG. The principal activity of the Company throughout the year continued to be other retail sale in non-specialised stores. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies. The following principal accounting policies have been applied:
| 2.2 | Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Sale of goods Revenue from the sale of goods is recognised when all of the following conditions are satisfied: ∙the Company has transferred the significant risks and rewards of ownership to the buyer; ∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the transaction; and ∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.
| 2.3 | Operating leases: the Company as lessee
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term. Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset. Page 3
CXP OFFICIAL LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.4 | Intangible assets
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
| 2.5 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows. Depreciation is provided on the following basis:
|  |  |  | Plant and machinery | - | 25% | on cost
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
| 2.6 | Stocks
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads. At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.
| 2.7 | Financial instruments
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments. Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Page 4
CXP OFFICIAL LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
3. | Employees
| The average monthly number of employees, including the directors, during the year was as follows:
|  |  | 2024 | 2023
|  |  | No. | No.
|  | Average number of employees | 1 | 1
Page 5
CXP OFFICIAL LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
4. | Intangible assets
|  | Patents | Computer software | Total
|  | £ | £ | £
| Cost |  |  |
| At 1 January 2024 | 89,626 | 15,261 | 104,887
| Additions | 12,016 | - | 12,016
| At 31 December 2024 | 101,642 | 15,261 | 116,903
| Amortisation |  |  |
| Charge for the year on owned assets | 9,196 | 1,526 | 10,722
| At 31 December 2024 | 9,196 | 1,526 | 10,722
| Net book value |  |  |
| At 31 December 2024 | 92,446 | 13,735 | 106,181
| At 31 December 2023 | 89,626 | 15,261 | 104,887
Page 6
CXP OFFICIAL LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
5. | Tangible fixed assets
|  | Fixtures and fittings | Computer equipment | Total
|  | £ | £ | £
| Cost or valuation |  |  |
| At 1 January 2024 | 922 | 1,059 | 1,981
| At 31 December 2024 | 922 | 1,059 | 1,981
| Depreciation |  |  |
| At 1 January 2024 | 842 | 853 | 1,695
| Charge for the year on owned assets | 80 | 206 | 286
| At 31 December 2024 | 922 | 1,059 | 1,981
| Net book value |  |  |
| At 31 December 2024 | - | - | -
| At 31 December 2023 | 80 | 206 | 286
6. | Debtors
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Trade debtors | 6,643 | 1,603
| Other debtors | 18,480 | 17,167
| Prepayments and accrued income | 790 | 545
|  | 25,913 | 19,315
Page 7
CXP OFFICIAL LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
7. | Creditors: Amounts falling due within one year
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Trade creditors | 23,170 | -
| Other taxation and social security | - | 2,946
| Other creditors | 51,314 | -
| Accruals and deferred income | 1,979 | 1,655
|  | 76,463 | 4,601
8. | Share capital
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 2,417,517 (2023 - 1,995,700) Ordinary shares of £0.001 each | 2,417 | 1,995
421,817 ordinary shares of £0.001 each were allotted as fully paid at a premium of £1.502 per share during the year.
Page 8