| Xplore Local World Limited |
| Registered number: |
06790809 |
| Balance Sheet |
| as at 31 January 2023 |
|
| Notes |
|
|
2023 |
|
|
2022 |
| £ |
£ |
| Fixed assets |
| Investments |
3 |
|
|
2,100,200 |
|
|
2,100,200 |
|
| Current assets |
| Debtors |
4 |
|
64,104 |
|
|
40,104 |
|
| Creditors: amounts falling due within one year |
5 |
|
(354,100) |
|
|
(30,100) |
|
| Net current (liabilities)/assets |
|
|
|
(289,996) |
|
|
10,004 |
|
| Total assets less current liabilities |
|
|
|
1,810,204 |
|
|
2,110,204 |
|
| Creditors: amounts falling due after more than one year |
6 |
|
|
- |
|
|
(300,000) |
|
|
|
| Net assets |
|
|
|
1,810,204 |
|
|
1,810,204 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
1,273 |
|
|
1,273 |
| Share premium |
|
|
|
1,808,931 |
|
|
1,808,931 |
|
| Shareholders' funds |
|
|
|
1,810,204 |
|
|
1,810,204 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| G.H. Barden |
| Director |
| Approved by the board on 25 October 2023 |
|
| Xplore Local World Limited |
| Notes to the Accounts |
| for the year ended 31 January 2023 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Investments |
|
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 value 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. |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
| 2 |
Employees |
2023 |
|
2022 |
| Number |
Number |
|
|
Average number of persons employed by the company |
0 |
|
0 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Investments |
| Investments in |
| subsidiary |
| undertakings |
| £ |
|
Cost |
|
At 1 February 2022 |
2,100,200 |
|
|
At 31 January 2023 |
2,100,200 |
|
|
| 4 |
Debtors |
2023 |
|
2022 |
| £ |
£ |
|
|
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
|
64,054 |
|
40,054 |
|
Other debtors |
50 |
|
50 |
|
|
|
|
|
|
64,104 |
|
40,104 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2023 |
|
2022 |
| £ |
£ |
|
|
Convertible loan - 28/10/2023 |
300,000 |
|
- |
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
|
100 |
|
100 |
|
Other creditors |
54,000 |
|
30,000 |
|
|
|
|
|
|
354,100 |
|
30,100 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Creditors: amounts falling due after one year |
2023 |
|
2022 |
| £ |
£ |
|
|
Convertible loan - 28/10/2023 |
- |
|
300,000 |
|
|
|
|
|
|
|
|
|
|
The Convertible Loan of £300,000 is repayable with interest 36 months after 28/10/2020. Interest is payable at 8% per annum and has been accrued in the Accounts. If the Loan and any accrued interest is unpaid at the end of the loan term, the loan will be converted into shares. |
|
|
| 7 |
Loans to directors |
|
Description and conditions |
B/fwd |
Paid |
Repaid |
C/fwd |
| £ |
£ |
£ |
£ |
|
G.H. Barden |
|
Overdrawn director's loan account |
50 |
|
- |
|
- |
|
50 |
|
|
|
50 |
|
- |
|
- |
|
50 |
|
|
|
|
|
|
|
|
|
|
| 8 |
Controlling party |
|
|
The company is ultimately controlled by G. H. Barden. |
|
|
| 9 |
Other information |
|
|
Xplore Local World Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
Newark Works 2 Foundry Way |
|
South Quays |
|
Bath |
|
Avon |
|
BA2 3DZ |
