Xeric Enterprises Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06865199 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2019

for

Xeric Enterprises Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S Maudsley

Mrs J E Maudsley

SECRETARY:

S Maudsley

REGISTERED OFFICE:

Unit 9

Parkwood Business Park

Parkwood Road

Sheffield

Yorkshire

S3 8AL

REGISTERED NUMBER:

06865199 (England and Wales)

ACCOUNTANTS:

Geoff Cowley & Co Ltd

Willow Park

Upton Lane

Stoke Golding

Nuneaton

Warwickshire

CV13 6EU

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

622

800

622

800

CURRENT ASSETS

Stocks

18,724

18,352

Debtors

6

82,912

124,634

Cash at bank

3,079

16,113

104,715

159,099

CREDITORS

Amounts falling due within one year

7

56,758

95,511

NET CURRENT ASSETS

47,957

63,588

TOTAL ASSETS LESS CURRENT LIABILITIES

48,579

64,388

CREDITORS

Amounts falling due after more than one year

8

15,000

30,000

NET ASSETS

33,579

34,388

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

33,479

34,288

33,579

34,388

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 19 August 2019 and were signed on its behalf by:

S Maudsley - Director

1.	STATUTORY INFORMATION

Xeric Enterprises 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.

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 0, is being amortised evenly over its estimated useful life of nil 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

-

25% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving

items.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 2 (2018 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2018

and 31 March 2019

110,710

AMORTISATION

At 1 April 2018

and 31 March 2019

110,710

NET BOOK VALUE

At 31 March 2019

-

At 31 March 2018

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2018

and 31 March 2019

2,707

DEPRECIATION

At 1 April 2018

1,907

Charge for year

178

At 31 March 2019

2,085

NET BOOK VALUE

At 31 March 2019

622

At 31 March 2018

800

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Trade debtors

75,117

99,222

Other debtors

7,795

25,412

82,912

124,634

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Trade creditors

5,147

11,092

Taxation and social security

20,774

24,273

Other creditors

30,837

60,146

56,758

95,511

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.19

31.3.18

£

£

Amounts owed to group undertakings

15,000

30,000