Xploit-Technology Ventures Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04884945 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2018

for

Xploit-Technology Ventures Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mr J P Kennedy

SECRETARY:

Mr J P Kennedy

REGISTERED OFFICE:

8th Floor, Connect Centre

Kingston Crescent

Portsmouth

Hampshire

PO2 8QL

REGISTERED NUMBER:

04884945 (England and Wales)

ACCOUNTANTS:

Jelliff Lamprey Partnership Limited

8th Floor

Connect Centre

Kingston Crescent

Portsmouth

Hampshire

PO2 8QL

CURRENT ASSETS

Debtors

5

11,055

759

Cash at bank

4,409

4,954

15,464

5,713

CREDITORS

Amounts falling due within one year

6

44,172

57,317

NET CURRENT LIABILITIES

(28,708

)

(51,604

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(28,708

)

(51,604

)

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

(29,708

)

(52,604

)

SHAREHOLDERS' FUNDS

(28,708

)

(51,604

)

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 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director on 30 August 2019 and were signed by:

Mr J P Kennedy - Director

1.	STATUTORY INFORMATION

Xploit-Technology Ventures Limited is a private company, limited by shares , registered in England and Wales.

The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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 represents the amount derived from ordinary activities, stated after discounts, value added tax and any

other sales taxes, where applicable. Turnover is the value of work performed during the year with respect to

services.

Turnover is recognised on the provision of services on a percentage degree of completion basis.

Tangible fixed assets

Tangible fixed assets are stated at cost of acquisition less accumulated depreciation.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful

life.

Plant & machinery etc. - depreciation is charged at 25% on cost.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement,

as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that

evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction

price including transaction costs and subsequently measured at amortised cost using the effective interest

method. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including trade and other creditors are initially recognised at transaction price.

Financial liabilities classified as payable within one year are not amortised.

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of

the company.

Going concern

The accounts have been prepared on a going concern basis. The director believes that with his financial backing,

the company can continue to trade for the foreseeable future.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2017 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2018

9,029

Disposals

(5,029

)

At 31 December 2018

4,000

DEPRECIATION

At 1 January 2018

9,029

Eliminated on disposal

(5,029

)

At 31 December 2018

4,000

NET BOOK VALUE

At 31 December 2018

-

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

11,055

-

Other debtors

-

759

11,055

759

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Amounts owed to group undertakings

2,000

2,000

Taxation and social security

1,611

125

Other creditors

40,561

55,192

44,172

57,317

7.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The

Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party

transactions with wholly owned subsidiaries within the group.