REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 December 2022 |
for |
Xanadu Trading Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 December 2022 |
for |
Xanadu Trading Limited |
Xanadu Trading Limited (Registered number: 07618723) |
Contents of the Financial Statements |
for the Year Ended 31 December 2022 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Xanadu Trading Limited |
Company Information |
for the Year Ended 31 December 2022 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
122 Winchcombe Street |
Cheltenham |
Gloucestershire |
GL52 2NW |
Xanadu Trading Limited (Registered number: 07618723) |
Balance Sheet |
31 December 2022 |
31.12.22 | 31.12.21 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Investments | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Share premium | 10 |
Capital redemption reserve | 10 |
Retained earnings | 10 | ( |
) |
SHAREHOLDERS' FUNDS |
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. |
Xanadu Trading Limited (Registered number: 07618723) |
Balance Sheet - continued |
31 December 2022 |
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 |
Xanadu Trading Limited (Registered number: 07618723) |
Notes to the Financial Statements |
for the Year Ended 31 December 2022 |
1. | STATUTORY INFORMATION |
Xanadu Trading Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents gross trading profit/loss from derivatives trading and excludes value added tax and other sales taxes |
Tangible fixed assets |
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. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Xanadu Trading Limited (Registered number: 07618723) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2022 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 January 2022 |
Additions |
Disposals | ( |
) |
At 31 December 2022 |
DEPRECIATION |
At 1 January 2022 |
Charge for year |
Eliminated on disposal | ( |
) |
At 31 December 2022 |
NET BOOK VALUE |
At 31 December 2022 |
At 31 December 2021 |
5. | DEBTORS |
31.12.22 | 31.12.21 |
£ | £ |
Amounts falling due within one year: |
Other debtors |
Prepayments and accrued income |
Amounts falling due after more than one year: |
Other debtors |
Aggregate amounts |
6. | CURRENT ASSET INVESTMENTS |
31.12.22 | 31.12.21 |
£ | £ |
Financial assets at fair value through profit or loss |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.22 | 31.12.21 |
£ | £ |
Bank loans and overdrafts |
Tax |
Accrued expenses |
Xanadu Trading Limited (Registered number: 07618723) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2022 |
8. | FINANCIAL ASSETS AND LIABILITIES AT FAIR VALUE THROUGH PROFIT OR LOSS |
Financial assets and liabilities at fair value through profit or loss are financial instruments held for trading. A financial instrument is classified in this category if acquired principally for the purpose of selling in the short term. Derivatives are also categorised as held for trading unless they are designated as hedges. Financial instruments in this category are classified as current instruments if expected to be settled within 12 months, otherwise, they are classified as non-current. |
Financial instruments carried at fair value through profit or loss are initially recognised at fair value on trade date, and transaction costs are expensed in the income statement. Financial instruments are derecognised when the rights to receive cash flows from the investments have expired or have been transferred and the company has transferred substantially all risks and rewards of ownership. |
Gains or losses arising from changes in the fair value of the financial instruments at fair value through profit or loss category are presented in the income statement within turnover. |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.12.22 | 31.12.21 |
value: | £ | £ |
Ordinary | £0.01 | 60 | 60 |
Redeemable A | 0.01 | 81 | 81 |
141 | 141 |
During the period ending 31st December 2021, the company bought back 4,000 Ordinary Shares for a total consideration of £1,417,880. |
10. | RESERVES |
Capital |
Retained | Share | redemption |
earnings | premium | reserve | Totals |
£ | £ | £ | £ |
At 1 January 2022 | 1,572,660 |
Deficit for the year | ( |
) | ( |
) |
At 31 December 2022 | ( |
) | 1,031,539 |