| XL CAPITAL VENTURES LTD |
| Registered number: |
09353459 |
| Balance Sheet |
| as at 31 December 2018 |
|
| Notes |
|
|
2018 |
|
|
2017 |
| £ |
£ |
| Fixed assets |
| Investments |
2 |
|
|
371,500 |
|
|
371,500 |
|
| Creditors: amounts falling due within one year |
3 |
|
(333,750) |
|
|
- |
|
| Net current liabilities |
|
|
|
(333,750) |
|
|
- |
|
| Total assets less current liabilities |
|
|
|
37,750 |
|
|
371,500 |
|
| Creditors: amounts falling due after more than one year |
4 |
|
|
- |
|
|
(370,500) |
|
|
|
| Net assets |
|
|
|
37,750 |
|
|
1,000 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
1,000 |
|
|
1,000 |
| Profit and loss account |
|
|
|
36,750 |
|
|
- |
|
| Shareholders' funds |
|
|
|
37,750 |
|
|
1,000 |
|
|
|
|
|
|
|
|
| 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. |
|
|
|
|
| Mohammed Tayeb |
| Director |
| Approved by the board on 23 December 2019 |
|
| XL CAPITAL VENTURES LTD |
| Notes to the Accounts |
| for the year ended 31 December 2018 |
|
|
| 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). |
|
|
Turnover |
|
The company holds investments and had no turnover to report during the reporting period. |
|
|
Intangible fixed assets |
|
The company had no Intangible fixed assets to report during the reporting period. |
|
|
Tangible fixed assets |
|
The company had no Tangible fixed assets to report during the reporting period. |
|
|
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. |
|
|
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. |
|
|
Provisions |
|
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
|
|
|
| 2 |
Investments |
|
| Other |
| investments |
| £ |
|
Cost |
|
At 1 January 2018 |
371,500 |
|
|
At 31 December 2018 |
371,500 |
|
|
|
|
|
|
|
|
|
|
Historical cost |
|
At 1 January 2018 |
371,500 |
|
At 31 December 2018 |
371,500 |
|
|
|
|
|
|
|
|
|
|
The investments are broken down into £269,500 invested in Hearn Capital Limited and £102,000 invested in Teacher Centric Limited. The directors are of an opinion that the value of the investments as at 31 December 2018 remains as book value. |
|
|
| 3 |
Creditors: amounts falling due within one year |
2018 |
|
2017 |
| £ |
£ |
|
|
Other creditors |
333,750 |
|
- |
|
|
|
|
|
|
|
|
|
|
| 4 |
Creditors: amounts falling due after one year |
2018 |
|
2017 |
| £ |
£ |
|
|
Other creditors |
- |
|
370,500 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Related party transactions |
|
|
As at 31 December 2018, the company owed £333,750 to the related party (£370,500 in 2017) |
|
| 6 |
Controlling party |
|
|
The ultimate controlling party of the company is Mr Mohammed Tayeb and Mr Omar Tayeb by virtue of their shareholding in the company. |
|
|
| 7 |
Other information |
|
|
XL CAPITAL VENTURES LTD is a private company limited by shares and incorporated in England. Its registered office is: |
|
Abbotswood |
|
Coombe Hill Road |
|
Kingston Upon Thames |
|
Surrey |
|
KT2 7DU |
