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Registration number: 10728031

XL Real Estate Limited
Unaudited Filleted Financial Statements
for the Year Ended 30 April 2025

XL Real Estate Limited

Contents

Company Information | 1
Balance Sheet | 2 to 3
Notes to the Financial Statements | 4 to 9

XL Real Estate Limited

Company Information

Director | Mr Praveen Reddy

Registered office | South House Eliot Vale London SE3 0UU

Accountants | Michaelides Warner & Co 102 Fulham Palace Road London W6 9PL

XL Real Estate Limited

(Registration number: 10728031)
Balance Sheet as at 30 April 2025

| Note | 30 April 2025 £ | 30 April 2024 £
Fixed assets |  |  |
Tangible assets | 4 | 2,403 | 5,653
Investment property | 5 | 30,177,816 | 30,315,248
|  | 30,180,219 | 30,320,901
Current assets |  |  |
Debtors | 6 | 53,385 | 137,601
Cash at bank and in hand |  | 9,625 | 45,149
|  | 63,010 | 182,750
Creditors: Amounts falling due within one year | 7 | (12,300,586) | (12,333,039)
Net current liabilities |  | (12,237,576) | (12,150,289)
Total assets less current liabilities |  | 17,942,643 | 18,170,612
Creditors: Amounts falling due after more than one year | 7 | (19,518,845) | (19,167,107)
Net liabilities |  | (1,576,202) | (996,495)
Capital and reserves |  |  |
Called up share capital | 8 | 1 | 1
Retained earnings |  | (1,576,203) | (996,496)
Shareholders' deficit |  | (1,576,202) | (996,495)

For the financial year ending 30 April 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 accounts for the year in question in accordance with section 476; and
• | The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

XL Real Estate Limited

(Registration number: 10728031)
Balance Sheet as at 30 April 2025 (continued)

Approved and authorised by the director on 10 June 2026

......................................... Mr Praveen Reddy Director

XL Real Estate Limited

Notes to the Financial Statements for the Year Ended 30 April 2025

1 | General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
South House
Eliot Vale
London
SE3 0UU
England

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Judgements

The director considers that there are no key judgements that management have made in the process of applying the company's accounting policies and that may have had a significant effect on the amounts recognised in the financial statements

XL Real Estate Limited

Notes to the Financial Statements for the Year Ended 30 April 2025 (continued)

2 | Accounting policies (continued)

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Furniture, fixtures and fittings | 25% Straight line method

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

XL Real Estate Limited

Notes to the Financial Statements for the Year Ended 30 April 2025 (continued)

2 | Accounting policies (continued)

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Financial instruments

Classification
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like investments, trade and other receivables, cash and bank balances, trade and other creditors.
Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or cash consolidation expected to be paid or received.

XL Real Estate Limited

Notes to the Financial Statements for the Year Ended 30 April 2025 (continued)

3 | Staff numbers

The average number of persons employed by the company (including the director) during the year, was 3 (2024 - 3).

4 | Tangible assets

| Furniture, fittings and equipment £ | Total £
Cost or valuation
At 1 May 2024 | 12,999 | 12,999
At 30 April 2025 | 12,999 | 12,999
Depreciation
At 1 May 2024 | 7,346 | 7,346
Charge for the year | 3,250 | 3,250
At 30 April 2025 | 10,596 | 10,596
Carrying amount
At 30 April 2025 | 2,403 | 2,403
At 30 April 2024 | 5,653 | 5,653

5 | Investment properties

| 30 April 2025 £
At 1 May | 30,315,248
Additions | 82,568
Disposals | (220,000)
At 30 April | 30,177,816

No professional valuation has been carried out during the year, however, year end valuations have been carried out by the director.

XL Real Estate Limited

Notes to the Financial Statements for the Year Ended 30 April 2025 (continued)

6 | Debtors

| 30 April 2025 £ | 30 April 2024 £
Trade debtors | 44,885 | 22,728
Other debtors | 8,500 | 114,873
| 53,385 | 137,601

7 | Creditors

Creditors: amounts falling due within one year

| Note | 30 April 2025 £ | 30 April 2024 £
Due within one year |  |  |
Loans and borrowings | 9 | 262,494 | 100,000
Trade creditors |  | 181,373 | 183,831
Taxation and social security |  | 1,427 | 707
Accruals and deferred income |  | 4,500 | 4,500
Other creditors |  | 11,850,792 | 12,044,001
|  | 12,300,586 | 12,333,039

Creditors: amounts falling due after more than one year

| Note | 30 April 2025 £ | 30 April 2024 £
Due after one year |  |  |
Loans and borrowings | 9 | 19,518,845 | 19,167,107

XL Real Estate Limited

Notes to the Financial Statements for the Year Ended 30 April 2025 (continued)

8 | Share capital

Allotted, called up and fully paid shares

| 30 April 2025 | 30 April 2024
| No. | £ | No. | £
Ordinary shares of £1 each | 1 | 1 | 1 | 1

9 | Loans and borrowings

Non-current loans and borrowings

| 30 April 2025 £ | 30 April 2024 £
Bank borrowings | 19,518,845 | 19,167,107

Bank borrowings are secured on the company investment properties by way of mortgages.

Current loans and borrowings

| 30 April 2025 £ | 30 April 2024 £
Bank borrowings | 147,961 | -
Other borrowings | 114,533 | 100,000
| 262,494 | 100,000

10 | Related party transactions

At the year end the company owed to the director £11,706,052 (2024: £11,944,800).