Company Registration No. 12386512 (England and Wales)
X7 Portfolio Ltd
Unaudited accounts
for the year ended 31 January 2026
X7 Portfolio Ltd
Unaudited accounts
Contents
X7 Portfolio Ltd
Company Information
for the year ended 31 January 2026
Director
Vincent Man-Hang Luk
Company Number
12386512 (England and Wales)
Registered Office
79 Scarisbrick New Road
Southport
Merseyside
PR8 6LJ
England
Accountants
Akusika Business Services Ltd
Sapphire House
116 Station Road
Chinnor
Oxon
OX39 4QG
X7 Portfolio Ltd
Statement of financial position
as at 31 January 2026
Tangible assets
1,061,194
1,083,013
Cash at bank and in hand
103,059
62,606
Creditors: amounts falling due within one year
(8,467)
(7,892)
Net current assets
103,966
69,791
Total assets less current liabilities
1,165,160
1,152,804
Creditors: amounts falling due after more than one year
(1,731,116)
(1,731,445)
Provisions for liabilities
Net liabilities
(566,023)
(578,708)
Called up share capital
10
10
Profit and loss account
(566,033)
(578,718)
Shareholders' funds
(566,023)
(578,708)
For the year ending 31 January 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 22 October 2026 and were signed on its behalf by
Vincent Man-Hang Luk
Director
Company Registration No. 12386512
X7 Portfolio Ltd
Notes to the Accounts
for the year ended 31 January 2026
X7 Portfolio Ltd is a private company, limited by shares, registered in England and Wales, registration number 12386512. The registered office is 79 Scarisbrick New Road, Southport, Merseyside, PR8 6LJ, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Impairment of Fixed Assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to
determine whether there is any indication that those assets have suffered an impairment loss. If any such
indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the
impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset,
the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use,
the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects
current market assessments of the time value of money and the risks specific to the asset for which the
estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying
amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An
impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued
amount, in which case the impairment loss is treated as a revaluation decrease.
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to
apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating
unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount
does not exceed the carrying amount that would have been determined had no impairment loss been
recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is
recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which
case the reversal of the impairment loss is treated as a revaluation increase.
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 sterling, which is the functional currency of the company. Monetary
amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the
revaluation of freehold properties and to include investment properties and certain financial instruments at fair
value]. The principal accounting policies adopted are set out below.
X7 Portfolio Ltd
Notes to the Accounts
for the year ended 31 January 2026
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
2% Reducing Balance
Plant & machinery
33% Straight Line
Fixtures & fittings
33% Straight Line
Computer equipment
33% Straight Line
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to
determine whether there is any indication that those assets have suffered an impairment loss. If any such
indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the
impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset,
the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use,
the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects
current market assessments of the time value of money and the risks specific to the asset for which the
estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying
amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An
impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued
amount, in which case the impairment loss is treated as a revaluation decrease.
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to
apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating
unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount
does not exceed the carrying amount that would have been determined had no impairment loss been
recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is
recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which
case the reversal of the impairment loss is treated as a revaluation increase.
X7 Portfolio Ltd
Notes to the Accounts
for the year ended 31 January 2026
5
Tangible fixed assets
Land & buildings
Plant & machinery
Total
Cost or valuation
At cost
At cost
At 1 February 2025
1,159,395
1,499
1,160,894
At 31 January 2026
1,159,395
1,499
1,160,894
At 1 February 2025
76,715
1,166
77,881
Charge for the year
21,653
166
21,819
At 31 January 2026
98,368
1,332
99,700
At 31 January 2026
1,061,027
167
1,061,194
At 31 January 2025
1,082,680
333
1,083,013
Amounts falling due within one year
Trade debtors
8,681
13,080
Accrued income and prepayments
693
1,997
7
Creditors: amounts falling due within one year
2026
2025
8
Creditors: amounts falling due after more than one year
2026
2025
Bank loans
1,705,314
1,705,643
Loans from directors
25,802
25,802
9
Average number of employees
During the year the average number of employees was 2 (2025: 2).