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Registered number: 04682618 XJTAG LIMITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
XJTAG LIMITED COMPANY INFORMATION
Directors | S G Payne
| C Barnes
| P W C Fryers
Company secretary | S G Payne
Registered number | 04682618
Registered office | Camtech House
| 137 Cambridge Road
| Milton
| Cambridge
| CB24 6AZ
Accountants | Lakin Rose Limited
| Chartered Accountants
| Cambridge House
| Camboro Business Park
| Girton
| Cambridge
| CB3 0QH
XJTAG LIMITED CONTENTS
| Page
Balance Sheet | 1 - 2
Notes to the Financial Statements | 3 - 9
XJTAG LIMITED REGISTERED NUMBER: 04682618 BALANCE SHEET AS AT 31 MARCH 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 4 |  | 11,459 |  | 13,537
Investments | 5 |  | 1,563 |  | 1,563
|  |  | 13,022 |  | 15,100
Current assets |  |  |  |  |
Stocks | 6 | 351,642 |  | 337,239 |
Debtors: amounts falling due within one year | 7 | 8,114,146 |  | 6,523,619 |
Bank & cash balances |  | 1,217,471 |  | 1,880,804 |
|  | 9,683,259 |  | 8,741,662 |
Creditors: amounts falling due within one year | 8 | (9,472,170) |  | (8,338,699) |
Net current assets |  |  | 211,089 |  | 402,963
Total assets less current liabilities |  |  | 224,111 |  | 418,063
Creditors: amounts falling due after more than one year | 9 |  | (40,834) |  | (89,833)
Net assets |  |  | 183,277 |  | 328,230
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 1 |  | 1
Profit and loss account |  |  | 183,276 |  | 328,229
|  |  | 183,277 |  | 328,230
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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. 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. Page 1
XJTAG LIMITED REGISTERED NUMBER: 04682618 BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2025 The financial statements were approved and authorised for issue by the board and were signed on its behalf on 24 November 2025.
S G Payne
Director
The notes on pages 3 to 9 form part of these financial statements. Page 2
XJTAG LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
1. | General information
XJTAG Limited ("the company") is a private company limited by shares and is incorporated in England and Wales. The address of the registered office is Camtech House, 137 Cambridge Road, Milton, Cambridge, CB24 6AZ. 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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The following principal accounting policies have been applied:
| 2.2 | Exemption from preparing consolidated financial statements
The company, and the group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and group are considered eligible for the exemption to prepare consolidated accounts.
| 2.3 | Foreign currency translation
Functional and presentation currency The company's functional and presentational currency is GBP. Transactions and balances Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined. Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.
| 2.4 | 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: Revenue is recognised over the period of maintenance cover or as work is completed under consultancy contracts. Page 3
XJTAG LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.5 | Borrowing costs
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
| 2.6 | Pensions
Defined contribution pension plan The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the company in independently administered funds.
| 2.7 | Taxation
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that: ∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
| 2.8 | 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. Page 4
XJTAG LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.8 | Tangible fixed assets (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following basis:
|  |  |  | Office equipment | - | 20% - 50% straight line
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.
| 2.9 | Valuation of investments
Investments in subsidiaries are measured at cost less accumulated impairment.
| 2.10 | Stock
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. 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.
3. | Employees
| The average monthly number of employees, including directors, during the year was 1 (2024 - 1).
Page 5
XJTAG LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
4. | Tangible fixed assets
|  | Office equipment
|  | £
| Cost or valuation |
| At 1 April 2024 | 68,833
| Additions | 2,581
| Disposals | (4,199)
| At 31 March 2025 | 67,215
| Depreciation |
| At 1 April 2024 | 55,296
| Charge for the year on owned assets | 4,659
| Disposals | (4,199)
| At 31 March 2025 | 55,756
| Net book value |
| At 31 March 2025 | 11,459
| At 31 March 2024 | 13,537
Page 6
XJTAG LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
5. | Fixed asset investments
|  | Investments in subsidiary companies
|  | £
| Cost or valuation |
| At 1 April 2024 | 1,563
| At 31 March 2025 | 1,563
| Net book value |
| At 31 March 2025 | 1,563
| At 31 March 2024 | 1,563
6. | Stocks
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Finished goods and components | 351,642 | 337,239
|  | 351,642 | 337,239
7. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 544,623 | 718,692
| Amounts owed by group undertakings | 7,500,013 | 5,774,879
| Other debtors | 10,677 | 9,569
| Prepayments and accrued income | 58,833 | 20,479
|  | 8,114,146 | 6,523,619
Page 7
XJTAG LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
8. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank loans | 49,000 | 49,000
| Trade creditors | 36,018 | 94,722
| Amounts owed to group undertakings | 8,766,094 | 7,510,344
| Corporation tax | - | 91,831
| Other taxation and social security | 23,164 | 11,649
| Other creditors | 112,678 | 88,810
| Accruals and deferred income | 485,216 | 492,343
|  | 9,472,170 | 8,338,699
9. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank loans | 40,834 | 89,833
|  | 40,834 | 89,833
10. | Loans
| Analysis of the maturity of loans is given below:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Amounts falling due within one year |  |
| Bank loans | 49,000 | 49,000
| Amounts falling due 1-2 years |  |
| Bank loans | 40,834 | 49,000
| Amounts falling due 2-5 years |  |
| Bank loans | - | 40,834
|  | 89,834 | 138,834
Page 8
XJTAG LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
11. | Pension commitments
The group operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund. The pension cost charge represents contributions payable by the group on behalf of employees recharged to the company during the year and amounted to £172,074 (2024 - £142,820). There were contributions of £nil unpaid at the year end (2024 - £nil).
Page 9