Automation XL Limited - Accounts to registrar (filleted) - small 18.2

Automation XL Limited - Accounts to registrar (filleted) - small 18.2

AUTOMATION XL LIMITED - Company Information

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REGISTERED NUMBER: SC432270 (Scotland)















Unaudited Financial Statements for the Year Ended 31 December 2018

for

AUTOMATION XL LIMITED
AUTOMATION XL LIMITED (REGISTERED NUMBER: SC432270)

Contents of the Financial Statements
for the Year Ended 31 December 2018










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


AUTOMATION XL LIMITED

Company Information
for the Year Ended 31 December 2018







DIRECTOR: C Laird





REGISTERED OFFICE: XL House
Woodburn Road
Blackburn
Aberdeen
AB21 0PS





REGISTERED NUMBER: SC432270 (Scotland)





1
AUTOMATION XL LIMITED (REGISTERED NUMBER: SC432270)

Balance Sheet
31 December 2018

2018 2017
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 47,485 49,762
47,485 49,762

CURRENT ASSETS
Stocks - 136,159
Debtors 6 1,645,474 1,175,117
Cash at bank and in hand 93,984 17,606
1,739,458 1,328,882
CREDITORS
Amounts falling due within one year 7 942,733 625,503
NET CURRENT ASSETS 796,725 703,379
TOTAL ASSETS LESS CURRENT
LIABILITIES
844,210
753,141

CREDITORS
Amounts falling due after more than one
year
8
8,649
18,411
NET ASSETS 835,561 734,730

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 835,560 734,729
SHAREHOLDERS' FUNDS 835,561 734,730

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

The notes form part of these financial statements

2
AUTOMATION XL LIMITED (REGISTERED NUMBER: SC432270)

Balance Sheet - continued
31 December 2018


The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 26 April 2019 and were signed by:





C Laird - Director


The notes form part of these financial statements

3
AUTOMATION XL LIMITED (REGISTERED NUMBER: SC432270)

Notes to the Financial Statements
for the Year Ended 31 December 2018


1. STATUTORY INFORMATION

Automation XL Limited is a private company, limited by shares , registered in Scotland. The company's
registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,
value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of two years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost
less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost and 20% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in
bringing stocks to their present location and condition.

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.

4
AUTOMATION XL LIMITED (REGISTERED NUMBER: SC432270)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2018


2. ACCOUNTING POLICIES - continued

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the
balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at
the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension
scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2017 - 20 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2018
and 31 December 2018 14,999
AMORTISATION
At 1 January 2018
and 31 December 2018 14,999
NET BOOK VALUE
At 31 December 2018 -
At 31 December 2017 -

5
AUTOMATION XL LIMITED (REGISTERED NUMBER: SC432270)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2018


5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2018 132,947
Additions 11,827
At 31 December 2018 144,774
DEPRECIATION
At 1 January 2018 83,185
Charge for year 14,104
At 31 December 2018 97,289
NET BOOK VALUE
At 31 December 2018 47,485
At 31 December 2017 49,762

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Trade debtors 386,553 145,673
Amounts owed by group undertakings 304,844 289,884
Amounts owed by participating interests 451,999 435,934
Other debtors 502,078 303,626
1,645,474 1,175,117

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Hire purchase contracts 9,762 9,762
Trade creditors 114,320 122,413
Amounts owed to group undertakings 340,273 54,750
Amounts owed to participating interests 339,851 339,850
Taxation and social security 119,938 79,236
Other creditors 18,589 19,492
942,733 625,503

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2018 2017
£    £   
Hire purchase contracts 8,649 18,411

6
AUTOMATION XL LIMITED (REGISTERED NUMBER: SC432270)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2018


9. ULTIMATE CONTROLLING PARTY

The controlling party is XL Global Group Ltd.

The ultimate controlling party is the director.

7