Company Registration No. 08464463 (England and Wales)
XYRESIC LIMITED
Unaudited accounts
for the year ended 31 March 2021
XYRESIC LIMITED
Unaudited accounts
Contents
XYRESIC LIMITED
Company Information
for the year ended 31 March 2021
Director
Mr Kashif Akhtar
Company Number
08464463 (England and Wales)
Registered Office
12 Delamere Gardens
Huddersfield
HD2 2AW
England
Accountants
Account2u Limited (trading as ARIS Accountancy)
44 SPRINGBANK ROAD
HUDDERSFIELD
HD2 1XX
XYRESIC LIMITED
Accountants' report
Accountants' report to the director of XYRESIC LIMITED (the company)
These financial statements have been prepared in accordance with our terms of engagement and in order to assist you to fulfil your duties under the Companies Acts that relate to preparing the financial statements of the company for the year ended 31 March 2021.
We have prepared these financial statements based on the accounting records, information and explanations provided by you. We do not express any opinion on the financial statements.
On the balance sheet you have acknowledged your duties under the prevailing Companies Acts to ensure that the company keeps adequate accounting records and prepares financial statements that give "a true and fair view".
You have determined that the company is exempt from the statutory requirement for an audit for the year ended 31 March 2021. Therefore, the financial statements are unaudited.
The financial statements are provided exclusively to the director for the limited purpose mentioned above, and may not be used or relied upon for any other purpose or by any other person, and we shall not be liable for any other usage or reliance.
Account2u Limited (trading as ARIS Accountancy)
44 SPRINGBANK ROAD
HUDDERSFIELD
HD2 1XX
12 November 2021
XYRESIC LIMITED
Statement of financial position
as at
31 March 2021
Intangible assets
1,012,950
1,012,950
Tangible assets
345,970
443,037
Investments
521,772
521,772
Inventories
37,203
37,168
Cash at bank and in hand
305,932
97,707
Creditors: amounts falling due within one year
(600,927)
(533,919)
Net current assets
444,992
305,247
Total assets less current liabilities
2,325,684
2,283,006
Creditors: amounts falling due after more than one year
(1,114,536)
(1,069,669)
Net assets
1,211,148
1,213,337
Called up share capital
2
2
Profit and loss account
1,211,146
1,213,335
Shareholders' funds
1,211,148
1,213,337
For the year ending 31 March 2021 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 12 November 2021 and were signed on its behalf by
Mr Kashif Akhtar
Director
Company Registration No. 08464463
XYRESIC LIMITED
Notes to the Accounts
for the year ended 31 March 2021
XYRESIC LIMITED is a private company, limited by shares, registered in England and Wales, registration number 08464463. The registered office is 12 Delamere Gardens, Huddersfield, HD2 2AW, 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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
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.
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
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
over 50 years
Plant & machinery
over 5 years
Motor vehicles
over 5 years
Fixtures & fittings
over 5 years
Computer equipment
over 5 years
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair values unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue recognised.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
XYRESIC LIMITED
Notes to the Accounts
for the year ended 31 March 2021
4
Intangible fixed assets
Goodwill
At 1 April 2020
1,135,500
At 31 March 2021
1,135,500
At 31 March 2021
1,012,950
At 31 March 2020
1,012,950
5
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At cost
At 1 April 2020
90,000
257,392
350,425
-
22,198
720,015
Additions
-
-
6,100
115,501
3,414
125,015
Disposals
-
-
(252,658)
-
-
(252,658)
At 31 March 2021
90,000
257,392
103,867
115,501
25,612
592,372
At 1 April 2020
1,800
106,970
163,768
-
4,440
276,978
Charge for the year
-
30,084
20,773
23,100
4,235
78,192
On disposals
-
-
(108,768)
-
-
(108,768)
At 31 March 2021
1,800
137,054
75,773
23,100
8,675
246,402
At 31 March 2021
88,200
120,338
28,094
92,401
16,937
345,970
At 31 March 2020
88,200
150,422
186,657
-
17,758
443,037
6
Investments
Other investments
Valuation at 1 April 2020
521,772
Valuation at 31 March 2021
521,772
7
Debtors: amounts falling due within one year
2021
2020
Trade debtors
646,515
640,168
Accrued income and prepayments
1,040
2,650
XYRESIC LIMITED
Notes to the Accounts
for the year ended 31 March 2021
8
Creditors: amounts falling due within one year
2021
2020
Obligations under finance leases and hire purchase contracts
22,394
15,638
Trade creditors
344,820
416,020
Taxes and social security
(407)
(471)
Other creditors
959
55,059
Loans from directors
233,161
47,673
9
Creditors: amounts falling due after more than one year
2021
2020
Obligations under finance leases and hire purchase contracts
48,640
59,665
Amounts owed to group undertakings and other participating interests
522,072
1,010,004
10
Average number of employees
During the year the average number of employees was 30 (2020: 31).