Xmitio Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 05670755

XMITIO LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 March 2025

XMITIO LIMITED

STATEMENT OF FINANCIAL POSITION

31 March 2025

	2025	2024
Note	£	£

Fixed assets

Tangible assets	4	795	709
Investments	5	48,492	–
		--------	----
		49,287	709

Current assets

Debtors	6	12,857	10,627
Cash at bank and in hand		1,078	4,705
		--------	--------
		13,935	15,332

Creditors: amounts falling due within one year	7	104,742	25,628
		---------	--------
Net current liabilities		90,807	10,296
		--------	--------
Total assets less current liabilities		( 41,520)	( 9,587)
		--------	-------
Net liabilities		( 41,520)	( 9,587)
		--------	-------

Capital and reserves

Called up share capital	8	1	1
Other reserves	9	( 22,300)	–
Profit and loss account	9	( 19,221)	( 9,588)
		--------	-------
Shareholders deficit		( 41,520)	( 9,587)
		--------	-------

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 comprehensive income has not been delivered.

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 his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

XMITIO LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 8 December 2025 , and are signed on behalf of the board by:

Mr S Harper
Director

Company registration number: 05670755

XMITIO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 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 95 Sugden Road, London, SW11 5ED.

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.

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.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

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:

Plant and machinery	-	50% straight line
Fixtures and fittings	-	100% straight line
Equipment	-	33% straight line

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Impairment of fixed assets

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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units .

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.

4. Tangible assets

	Plant and machinery	Fixtures and fittings	Equipment	Total
	£	£	£	£
Cost
At 31 March 2024	389	3,020	2,476	5,885
Additions	–	–	457	457
	----	-------	-------	-------
At 31 March 2025	389	3,020	2,933	6,342
	----	-------	-------	-------
Depreciation
At 31 March 2024	389	2,810	1,977	5,176
Charge for the year	–	35	336	371
	----	-------	-------	-------
At 31 March 2025	389	2,845	2,313	5,547
	----	-------	-------	-------
Carrying amount
At 31 March 2025	–	175	620	795
	----	-------	-------	-------
At 30 March 2024	–	210	499	709
	----	-------	-------	-------

5. Investments

	Other investments other than loans
	£
Cost
At 31 March 2024	–
Additions	149,408
Disposals	( 78,615)
Revaluations	( 22,301)
	---------
At 31 March 2025	48,492
	---------
Impairment
At 31 March 2024 and 31 March 2025	–
	---------

Carrying amount
At 31 March 2025	48,492
	---------
At 30 March 2024	–
	---------

The investments are shares held in non UK listed companies. The investments are held at fair value through profit and loss with gains and losses recognised in the profit and loss account. A separate reserve has been created to separate the gains and losses from the profit and loss account reserve.

The value of the investment is based on a quoted market price on an active market.

6. Debtors

	2025	2024
	£	£
Other debtors	12,857	10,627
	--------	--------

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Other creditors	104,742	25,628
	---------	--------

8. Called up share capital

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 1 each	1	1	1	1
	----	----	----	----

9. Reserves

Profit and loss account - This reserve records retained earnings and accumulated losses. Other reserves - This is a fair value reserve for investments held at fair value through profit and loss

10. Fair value reserve

The following movements on the fair value reserve are included within other reserves in the statement of changes in equity:

	2025	2024
	£	£
Reclassification from fair value reserve to profit and loss account	(22,300)	–
	--------	----
At end of year	( 22,300)	–
	--------	----

11. Director's advances, credits and guarantees

The company meets its day to day working capital requirements with funding from the director as required. The director will continue to support the company for a period of at least 12 months after the signing of the accounts. Within Other creditors are loans from the director totalling £102,860. During the year, the director introduced £75,000 to the company. Interest is chargeable on the loan at 4% per annum. The loan is due to be repaid upon the disposal of an investment, provided that there is sufficient cash to do so and it does not affect the company's ability to continue as a going concern.