Xirtek Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 10144601 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2023

FOR

XIRTEK LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

C Summers

S W Summers

SECRETARY:

REGISTERED OFFICE:

Briarwood

Hazel Lane

Tockington

BS32 4PL

REGISTERED NUMBER:

10144601 (England and Wales)

ACCOUNTANTS:

Keller & Co

367b Church Road

Frampton Cotterell

Bristol

BS36 2AQ

CURRENT ASSETS

Stocks

185,699

183,614

Debtors

4

415,100

415,100

Cash at bank

4,370

1,075

605,169

599,789

CREDITORS

Amounts falling due within one year

5

(109,070

)

(103,070

)

NET CURRENT ASSETS

496,099

496,719

TOTAL ASSETS LESS CURRENT LIABILITIES

496,099

496,719

CREDITORS

Amounts falling due after more than one year

6

(500,000

)

(500,000

)

NET LIABILITIES

(3,901

)

(3,281

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(4,001

)

(3,381

)

(3,901

)

(3,281

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 January 2024 and were signed on its behalf by:

C Summers - Director

S W Summers - Director

1.	STATUTORY INFORMATION

Xirtek Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation

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

Current or deferred taxation assets and liabilities are not discounted.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Other debtors

415,100

415,100

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Other creditors

109,070

103,070

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Other creditors

500,000

500,000

The £500,000 redeemable shares have no voting rights and rank first for any distribution made on a winding up. For each period of 12 months commencing on 1 October 2016 with the last option period expiring 30 September 2021, the holder of redeemable shares shall have an option to redeem 100,000 or fewer of the redeemable shares held by them, once in each option period.