X1 Salford Quays Phase 3 Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09135333 (England and Wales)

Financial Statements for the Period 1 February 2018 to 30 January 2019

for

X1 Salford Quays Phase 3 Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mrs L Smith

REGISTERED OFFICE:

116 Duke Street

Liverpool

Merseyside

L1 5JW

REGISTERED NUMBER:

09135333 (England and Wales)

ACCOUNTANTS:

Cobham Murphy

116 Duke Street

Liverpool

Merseyside

L1 5JW

CURRENT ASSETS

Debtors

4

1,197,273

1,196,773

Prepayments and accrued income

1

1

Cash at bank

325

6,322

1,197,599

1,203,096

CREDITORS

Amounts falling due within one year

5

1,193,332

1,058,868

NET CURRENT ASSETS

4,267

144,228

TOTAL ASSETS LESS CURRENT LIABILITIES

4,267

144,228

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

4,266

144,227

SHAREHOLDERS' FUNDS

4,267

144,228

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 January 2019.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 January 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 applicable to companies subject to the small companies regime.

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 22 January 2020 and were signed by:

Mrs L Smith - Director

1.	STATUTORY INFORMATION

X1 Salford Quays Phase 3 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.

The prior period financial statements present a period of 18 months which is not comparable to the current

period of 12 months.

Significant judgements and estimates

There are no judgements (apart from those involving estimates) that have had a significant effect on amounts

recognised in the financial statements.

Turnover

Turnover, derived from ordinary activities, represents rents received and sale of property, recognised on

completion, both exclude value added tax.

Financial instruments

Directors loans and intercompany loans (being repayable on demand), trade debtors and trade creditors are

measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Taxation

Taxation for the period 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 period 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 (2018 - 3 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.1.19

31.1.18

£

£

Other debtors

1,197,273

1,196,773

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.1.19

31.1.18

£

£

Trade creditors

1

1

Amounts owed to group undertakings

586,815

402,822

Taxation and social security

-

33,682

Other creditors

606,516

622,363

1,193,332

1,058,868

6.	RELATED PARTY DISCLOSURES

At the balance sheet date the company was owed £27,418 from companies under common control and owed

£164,396 to companies under common control. The loans are interest free and repayable on demand.

7.	ULTIMATE CONTROLLING PARTY

The parent company is X1 Management Limited, registered office 116 Duke Street, Liverpool, L1 5JW. The

ultimate controlling party is Lisa Smith by virtue of her shareholding in X1 Management Limited.