Company Registration No. 08464463 (England and Wales)
XYRESIC LIMITED
UNAUDITED FINANCIAL STATEMENTS
for the year ended 31 March 2023
XYRESIC LIMITED
UNAUDITED FINANCIAL STATEMENTS
Contents
XYRESIC LIMITED
Company Information
for the year ended 31 March 2023
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 2023.
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 2023. 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
25 November 2023
XYRESIC LIMITED
Statement of financial position
as at 31 March 2023
Intangible assets
1,027,980
1,012,950
Tangible assets
288,587
322,688
Investments
345,337
345,337
Cash at bank and in hand
329,775
330,559
Creditors: amounts falling due within one year
(549,629)
(511,520)
Net current assets
590,430
705,592
Total assets less current liabilities
1,906,997
2,563,002
Creditors: amounts falling due after more than one year
(62,126)
(875,288)
Net assets
1,844,871
1,687,714
Called up share capital
2
2
Profit and loss account
1,844,869
1,687,712
Shareholders' funds
1,844,871
1,687,714
For the year ending 31 March 2023 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 25 November 2023 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 2023
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 2023
4
Intangible fixed assets
Goodwill
At 31 March 2023
1,150,530
At 31 March 2023
1,027,980
At 31 March 2022
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 2022
109,208
257,392
103,867
117,184
35,260
622,911
Additions
-
-
5,332
2,863
3,562
11,757
At 31 March 2023
109,208
257,392
109,199
120,047
38,822
634,668
At 1 April 2022
1,800
161,122
81,392
41,917
13,992
300,223
Charge for the year
-
24,068
6,686
9,075
6,029
45,858
At 31 March 2023
1,800
185,190
88,078
50,992
20,021
346,081
At 31 March 2023
107,408
72,202
21,121
69,055
18,801
288,587
At 31 March 2022
107,408
96,270
22,475
75,267
21,268
322,688
6
Investments
Other investments
Valuation at 1 April 2022
521,772
Valuation at 31 March 2023
-
XYRESIC LIMITED
Notes to the Accounts
for the year ended 31 March 2023
Amounts falling due within one year
Trade debtors
329,916
386,248
Other debtors
3,263
10,500
Amounts falling due after more than one year
8
Investments held as current assets
2023
2022
Unlisted investments
345,337
345,337
9
Creditors: amounts falling due within one year
2023
2022
Obligations under finance leases and hire purchase contracts
-
11,025
Trade creditors
517,729
465,062
Taxes and social security
29,353
32,302
Other creditors
2,547
3,131
10
Creditors: amounts falling due after more than one year
2023
2022
Obligations under finance leases and hire purchase contracts
37,615
37,615
Amounts owed to group undertakings and other participating interests
-
481,365
Other creditors
24,511
56,308
11
Average number of employees
During the year the average number of employees was 28 (2022: 28).