Xs Transport Limited - Accounts to registrar (filleted) - small 18.2
Xs Transport Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 January 2019 |
| for |
| Xs Transport Limited |
| Xs Transport Limited (Registered number: SC413524) |
| Contents of the Financial Statements |
| for the Year Ended 31 January 2019 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Xs Transport Limited |
| Company Information |
| for the Year Ended 31 January 2019 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 42 Stirling Street |
| Denny |
| Stirlingshire |
| FK6 6DJ |
| BANKERS: |
| Unit 17 Tryst Road |
| Glasgow |
| G67 1JW |
| Xs Transport Limited (Registered number: SC413524) |
| Balance Sheet |
| 31 January 2019 |
| 31.1.19 | 31.1.18 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 7 | ( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES | 9 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 10 |
| Retained earnings | 11 |
| SHAREHOLDERS' FUNDS |
| 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. |
| 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 |
| Xs Transport Limited (Registered number: SC413524) |
| Notes to the Financial Statements |
| for the Year Ended 31 January 2019 |
| 1. | STATUTORY INFORMATION |
| Xs Transport Limited is a |
| number and registered office address can be found on the Company Information page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
| value added tax and other sales taxes. |
| Tangible fixed assets |
| Freehold property | - |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Computer equipment | - |
| 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 |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held |
| under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases |
| are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of |
| the future payments is treated as a liability. |
| 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 |
| Xs Transport Limited (Registered number: SC413524) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 January 2019 |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Freehold | Plant and | and |
| property | machinery | fittings |
| £ | £ | £ |
| COST |
| At 1 February 2018 |
| Additions |
| At 31 January 2019 |
| DEPRECIATION |
| At 1 February 2018 |
| Charge for year |
| Eliminated on disposal |
| At 31 January 2019 |
| NET BOOK VALUE |
| At 31 January 2019 |
| At 31 January 2018 |
| Motor | Computer |
| vehicles | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 February 2018 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 January 2019 |
| DEPRECIATION |
| At 1 February 2018 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 January 2019 |
| NET BOOK VALUE |
| At 31 January 2019 |
| At 31 January 2018 |
| Xs Transport Limited (Registered number: SC413524) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 January 2019 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Motor |
| vehicles |
| £ |
| COST |
| At 1 February 2018 |
| Additions |
| At 31 January 2019 |
| DEPRECIATION |
| At 1 February 2018 |
| Charge for year |
| At 31 January 2019 |
| NET BOOK VALUE |
| At 31 January 2019 |
| At 31 January 2018 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.1.19 | 31.1.18 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.1.19 | 31.1.18 |
| £ | £ |
| Hire purchase contracts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.1.19 | 31.1.18 |
| £ | £ |
| Hire purchase contracts |
| 8. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 31.1.19 | 31.1.18 |
| £ | £ |
| Amounts due to Factors | 153,580 | 210,164 |
| Lloyds TSB Commercial Finance Limited hold a bond and floating charge over the whole of the property of the |
| company. This was assigned on 4 May 2012. |
| Xs Transport Limited (Registered number: SC413524) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 January 2019 |
| 9. | PROVISIONS FOR LIABILITIES |
| 31.1.19 | 31.1.18 |
| £ | £ |
| Deferred tax | 43,639 | 31,673 |
| Deferred |
| tax |
| £ |
| Balance at 1 February 2018 |
| Accelerated capital allowances | 11,966 |
| Balance at 31 January 2019 |
| 10. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31.1.19 | 31.1.18 |
| value: | £ | £ |
| Ordinary | £1 | 1 | 1 |
| 11. | RESERVES |
| Retained |
| earnings |
| £ |
| At 1 February 2018 |
| Profit for the year |
| Dividends | ( |
) |
| At 31 January 2019 |
| 12. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the years ended 31 January 2019 and |
| 31 January 2018: |
| 31.1.19 | 31.1.18 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| 13. | RELATED PARTY DISCLOSURES |
| Dividends paid during the year to the director in the amount of £50,460 (2017 - £37,750) |
| During the year the company incurred warehousing costs of £21,666.67 (2017:- £31.666.67) payable to XS |
| Warehousing Limited. XS Warehousing Limited is a company in which Mr Alan Taylor is sole director and |
| shareholder. |
| 14. | ULTIMATE CONTROLLING PARTY |
| The company was under the control of the sole director and shareholder, A Taylor, throughout the period. |