3XT Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05309059

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2019

FOR

3XT LTD

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R Longden

S M Vine

SECRETARIES:

S M Vine

Mrs B E Turner

REGISTERED OFFICE:

6 Lime Avenue

Blackmore End

Wheathampstead

Hertfordshire

AL4 8LG

REGISTERED NUMBER:

05309059

ACCOUNTANTS:

Lamburn & Turner

Riverside House

3 Place Farm

Wheathampstead

Hertfordshire

AL4 8SB

FIXED ASSETS

Tangible assets

4

295,000

326,758

CURRENT ASSETS

Stocks

-

69,960

Debtors

5

292,680

178,112

Cash at bank

52

11,337

292,732

259,409

CREDITORS

Amounts falling due within one year

225,526

212,573

NET CURRENT ASSETS

67,206

46,836

TOTAL ASSETS LESS CURRENT LIABILITIES

362,206

373,594

CREDITORS

Amounts falling due after more than one year

6

295,000

295,000

NET ASSETS

67,206

78,594

CAPITAL AND RESERVES

Called up share capital

700

700

Retained earnings

66,506

77,894

SHAREHOLDERS' FUNDS

67,206

78,594

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2019 in accordance with Section 444(2A) of the Companies Act 2006.

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 and authorised for issue on 22 September 2020 and were signed on its behalf by:

R Longden - Director

1.	STATUTORY INFORMATION

3XT Ltd is a private company, limited by shares , registered in Not specified/Other. 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 represents net invoiced sales of goods and services, excluding value added tax.

Tangible fixed assets

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

Office equipment

-

20% on cost

Computer equipment

-

33% on cost

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2018 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2019

355,566

Disposals

(60,566

)

At 31 December 2019

295,000

DEPRECIATION

At 1 January 2019

28,808

Eliminated on disposal

(28,808

)

At 31 December 2019

-

NET BOOK VALUE

At 31 December 2019

295,000

At 31 December 2018

326,758

5.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.19

31.12.18

£

£

Amounts owed by group undertakings

292,680

162,098

The loan to the subsidiary has no set repayment date and bears no interest.

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

31.12.19

31.12.18

£

£

Repayable otherwise than by instalments

Mortgage

295,000

295,000

There is an interest only mortgage for the purpose of the freehold property which has a 20 year term and bears interest at

3.9% for the first year and 6.5% thereafter.

7.	ULTIMATE CONTROLLING PARTY

Control of the company is held by Mr R Longden and Ms S Vine.

8.	POST BALANCE SHEET EVENTS

The directors have considered the impact of the coronavirus pandemic on the company's financial position. The nature of

the business is relatively unaffected by the virus and the financial statements do not include any adjustments as a result.