FXI Inc. Limited Filleted accounts for Companies House (small and micro)

0 false false false false false false false false false false true false false false false false false No description of principal activity 2022-01-01 Sage Accounts Production Advanced 2023 - FRS102_2023 50,307 5,031 5,031 10,062 40,245 45,276 xbrli:pure xbrli:shares iso4217:GBP 13014181 2022-01-01 2022-12-31 13014181 2022-12-31 13014181 2021-12-31 13014181 2020-11-12 2021-12-31 13014181 2021-12-31 13014181 2020-11-11 13014181 core:PatentsTrademarksLicencesConcessionsSimilar 2022-01-01 2022-12-31 13014181 bus:Director2 2022-01-01 2022-12-31 13014181 core:PatentsTrademarksLicencesConcessionsSimilar 2021-12-31 13014181 core:PatentsTrademarksLicencesConcessionsSimilar 2022-12-31 13014181 core:WithinOneYear 2022-12-31 13014181 core:WithinOneYear 2021-12-31 13014181 core:ShareCapital 2022-12-31 13014181 core:ShareCapital 2021-12-31 13014181 core:SharePremium 2022-12-31 13014181 core:SharePremium 2021-12-31 13014181 core:RetainedEarningsAccumulatedLosses 2022-12-31 13014181 core:RetainedEarningsAccumulatedLosses 2021-12-31 13014181 core:PatentsTrademarksLicencesConcessionsSimilar 2021-12-31 13014181 bus:SmallEntities 2022-01-01 2022-12-31 13014181 bus:AuditExemptWithAccountantsReport 2022-01-01 2022-12-31 13014181 bus:SmallCompaniesRegimeForAccounts 2022-01-01 2022-12-31 13014181 bus:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 13014181 bus:FullAccounts 2022-01-01 2022-12-31

COMPANY REGISTRATION NUMBER: 13014181

FXI Inc. Limited

Filleted Unaudited Financial Statements

31 December 2022

FXI Inc. Limited

Financial Statements

Year ended 31 December 2022

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

FXI Inc. Limited

Statement of Financial Position

31 December 2022

	2022	2021
Note	£	£

Fixed assets

Intangible assets	5	40,245	45,276

Current assets

Debtors	6	1,902	99
Cash at bank and in hand		46,434	53,682
		--------	--------
		48,336	53,781

Creditors: amounts falling due within one year	7	104,863	105,305
		---------	---------
Net current liabilities		56,527	51,524
		--------	--------
Total assets less current liabilities		( 16,282)	( 6,248)
		--------	-------
Net liabilities		( 16,282)	( 6,248)
		--------	-------

Capital and reserves

Called up share capital	700	700
Share premium account	59,400	59,400
Profit and loss account	( 76,382)	( 66,348)
	--------	--------
Shareholders deficit	( 16,282)	( 6,248)
	--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

For the year ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

FXI Inc. Limited

Statement of Financial Position (continued)

31 December 2022

These financial statements were approved by the board of directors and authorised for issue on 28 September 2023 , and are signed on behalf of the board by:

Mr M C Binnendijk

Director

Company registration number: 13014181

FXI Inc. Limited

Notes to the Financial Statements

Year ended 31 December 2022

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Camburgh House, 27 New Dover Road, Canterbury, Kent, United Kingdom, CT1 3DN.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

After making appropriate enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future for at least one year from the date of the financial information. For these reasons they continue to adopt the going concern basis in preparing the company's financial information.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Patents, trademarks and licences	-	10% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

4. Employee numbers

The average number of persons employed by the company during the period amounted to 5 (2021: 5).

5. Intangible assets

	Patents, trademarks and licences
	£
Cost
At 1 January 2022 and 31 December 2022	50,307
	--------
Amortisation
At 1 January 2022	5,031
Charge for the year	5,031
	--------
At 31 December 2022	10,062
	--------
Carrying amount
At 31 December 2022	40,245
	--------
At 31 December 2021	45,276
	--------

6. Debtors

	2022	2021
	£	£
Other debtors	1,902	99
	-------	----

7. Creditors: amounts falling due within one year

	2022	2021
	£	£
Trade creditors	32,724	32,806
Other creditors	72,139	72,499
	---------	---------
	104,863	105,305
	---------	---------