General Information
XPEN Limited is a private company, limited by shares, registered in England and Wales, registration number 08497112, registration address 30 Adelaide Road, Bramhall, Stockport, SK7 1LT.
The presentation currency is £ sterling.
| 1. |
Accounting policies
Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The companys liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using 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.
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.
Current and deferred tax assets and liabilities are not discounted.
Dividends
Proposed dividends are only included as liabilities in the balance sheet when their payment has been approved by the shareholders prior to the balance sheet date.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill and domains
Acquired goodwill and domains are stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of 10 years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives as follows:
| Fixtures and Equipment |
33% Straight Line
|
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
|
| 2. |
Average number of employees
Average number of employees during the year was 2 (2024 : 2).
|
| 3. |
Intangible fixed assets
| Cost |
Goodwill |
|
Domains |
|
Total |
| |
£ |
|
£ |
|
£ |
| At 01 December 2024 |
1,381,549 |
|
- |
|
1,381,549 |
| Additions |
- |
|
3,000 |
|
3,000 |
| Disposals |
- |
|
- |
|
- |
| At 30 November 2025 |
1,381,549 |
|
3,000 |
|
1,384,549 |
| Amortisation |
| At 01 December 2024 |
1,381,549 |
|
- |
|
1,381,549 |
| Charge for year |
- |
|
300 |
|
300 |
| On disposals |
- |
|
- |
|
- |
| At 30 November 2025 |
1,381,549 |
|
300 |
|
1,381,849 |
| Net book values |
| At 30 November 2025 |
- |
|
2,700 |
|
2,700 |
| At 30 November 2024 |
- |
|
- |
|
- |
|
| 4. |
Tangible fixed assets
| Cost or valuation |
Fixtures and Equipment |
|
Total |
| |
£ |
|
£ |
| At 01 December 2024 |
15,212 |
|
15,212 |
| Additions |
315 |
|
315 |
| Disposals |
- |
|
- |
| At 30 November 2025 |
15,527 |
|
15,527 |
| Depreciation |
| At 01 December 2024 |
15,212 |
|
15,212 |
| Charge for year |
104 |
|
104 |
| On disposals |
- |
|
- |
| At 30 November 2025 |
15,316 |
|
15,316 |
| Net book values |
| Closing balance as at 30 November 2025 |
211 |
|
211 |
| Opening balance as at 01 December 2024 |
- |
|
- |
|
| 5. |
Advances and Credits
MJ Barratt P Mann M Slater | Brought Forward
£ | Amount
£ | Interest
£ | Repaid
£ | Written Off
£ | Waived
£ | Carry Forward
£ |
|---|
| MJ Barratt | - | | 47,374 | | 718 | | 9,592 | | - | | - | | 38,500 | | P Mann | - | | 47,374 | | 517 | | 26,228 | | - | | - | | 21,663 | | M Slater | - | | 47,374 | | 669 | | 13,505 | | - | | - | | 34,538 | | - | | 142,122 | | 1,904 | | 49,325 | | - | | - | | 94,701 |
| Brought Forward
£ | Amount
£ | Interest
£ | Repaid
£ | Written Off
£ | Waived
£ | Carry Forward
£ |
|---|
| MJ Barratt | - | | - | | - | | - | | - | | - | | - | | P Mann | - | | - | | - | | - | | - | | - | | - | | M Slater | - | | - | | - | | - | | - | | - | | - | | - | | - | | - | | - | | - | | - | | - |
|
| 6. |
Controlling Parties
The company is controlled by the directors.
|
2
|