Company registration number 04200533 (England and Wales)
XTRAVAGANT LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025
PAGES FOR FILING WITH REGISTRAR
XTRAVAGANT LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
XTRAVAGANT LIMITED
BALANCE SHEET
AS AT 31 MAY 2025
31 May 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
17,041
22,722
Investment property
4
1,060,000
5,150,000
1,077,041
5,172,722
Current assets
Debtors
5
362,218
58,718
Cash at bank and in hand
63,290
37,540
425,508
96,258
Creditors: amounts falling due within one year
6
(2,354,128)
(6,216,993)
Net current liabilities
(1,928,620)
(6,120,735)
Total assets less current liabilities
(851,579)
(948,013)
Creditors: amounts falling due after more than one year
7
(560,476)
(10,833)
Net liabilities
(1,412,055)
(958,846)
Capital and reserves
Called up share capital
9
2
2
Profit and loss reserves
(1,412,057)
(958,848)
Total equity
(1,412,055)
(958,846)
XTRAVAGANT LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2025
31 May 2025
- 2 -

For the financial year ended 31 May 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he 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 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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 5 May 2026 and are signed on its behalf by:
S Mehan
Director
Company registration number 04200533 (England and Wales)
XTRAVAGANT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025
- 3 -
1
Accounting policies
Company information

Xtravagant Limited is a private company limited by shares incorporated in England and Wales. The registered office is c/o Union Property Services Limited, First Floor Cobalt 3.2 Silver Fox Way, Cobalt Business Park, Newcastle upon Tyne, NE27 0QJ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in UK sterling which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention, modified to include investment properties at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

The financial statements have been prepared on a going concern basis which, in the opinion of the directors, is the appropriate basis. The company's ability to continue trading is dependent upon the ongoing support of its shareholders. In the event that the company is unable to continue trading, adjustments would have to be made to reduce the value of assets to their recoverable amount.

1.3
Turnover

Turnover represents rents receivable in accordance with the underlying property leases and exclusive of Value Added Tax where there are options to tax on properties.

Lease incentives (such as rent free periods) are spread over the entire period of the lease.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Investment properties

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

The methods and significant assumptions used to ascertain the fair value of £1,060,000 and fair value movement of £190,000 debited to profit/loss for the year are as follows:

Investment property was valued on an open market basis on 1 November 2024 by Lambert Smith Hampton, a registered RICS valuer

XTRAVAGANT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
1
Accounting policies
(Continued)
- 4 -
1.6
Impairment of assets

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current and deferred taxation assets and liabilities are not discounted.

Current tax

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

1.9
Provisions

Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.

XTRAVAGANT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
1
Accounting policies
(Continued)
- 5 -
1.10
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

1.11

Loans and borrowings

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

1.12

Debtors and creditors receivable/payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
0
0
3
Tangible fixed assets
Fixtures and fittings
£
Cost
At 1 June 2024 and 31 May 2025
47,986
Depreciation and impairment
At 1 June 2024
25,264
Depreciation charged in the year
5,681
At 31 May 2025
30,945
Carrying amount
At 31 May 2025
17,041
At 31 May 2024
22,722
XTRAVAGANT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
- 6 -
4
Investment property
2025
£
Fair value
At 1 June 2024
5,150,000
Disposals
(3,900,000)
Revaluations
(190,000)
At 31 May 2025
1,060,000

The historic cost of the investment property is £1,788,112 (202 4 £7,114,950).

5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
-
0
39,794
Other debtors
361,632
1,491
Prepayments and accrued income
586
17,433
362,218
58,718
6
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
8
14,012
10,000
Trade creditors
77,074
88,369
Taxation and social security
47,559
6,276
Other creditors
2,203,936
5,970,265
Accruals and deferred income
11,547
142,083
2,354,128
6,216,993
7
Creditors: amounts falling due after more than one year
2025
2024
Notes
£
£
Bank loans and overdrafts
8
560,476
10,833
Creditors which fall due after five years are payable as follows:
Payable by instalments
504,428
-
XTRAVAGANT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
- 7 -
8
Loans and overdrafts
2025
2024
£
£
Bank loans
574,488
20,833
Payable within one year
14,012
10,000
Payable after one year
560,476
10,833

The bank loan is secured on the company's investment property.

9
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
2
2
2
2
10
Operating lease commitments
Lessee

At the reporting end date the company had no outstanding commitments for future minimum lease payments.

2025
2024
£
£
-
786
XTRAVAGANT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
- 8 -
11
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with related parties:

Other loan interest payable
2025
2024
£
£
Other related parties
140,829
212,757

The following amounts were outstanding at the reporting end date:

2025
2024
Amounts due to related parties
£
£
Key management personnel
1,937,226
1,937,226
Other related parties
179,700
4,021,436
2025
2024
Amounts due from related parties
£
£
Other related parties
361,632
1,491
12
Off balance sheet arrangements

The company's investment property has been provided as security for the bank loan facilities of ASM 9 Limited, a company registered in Jersey.

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