Xcel 2000 Limited Filleted accounts for Companies House (small and micro)

XCEL 2000 LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 08494937

Xcel 2000 Limited

Filleted Unaudited Financial Statements

31 March 2020

Xcel 2000 Limited

Statement of Financial Position

31 March 2020

	31 Mar 20	31 Oct 18
Note	£	£

Fixed assets

Investments	5	502,502	502,502

Creditors: amounts falling due within one year	6	117,297	117,297
		---------	---------
Net current liabilities		117,297	117,297
		---------	---------
Total assets less current liabilities		385,205	385,205
		---------	---------

Capital and reserves

Called up share capital	102	102
Share premium account	385,103	385,103
	---------	---------
Shareholders funds	385,205	385,205
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the period ending 31 March 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 15 February 2021 , and are signed on behalf of the board by:

Mr J P Gorman	Mr K R Gorman
Director	Director

Company registration number: 08494937

Xcel 2000 Limited

Notes to the Financial Statements

Period from 1 November 2018 to 31 March 2020

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Quayside House, Chatham Maritime, Chatham, ME4 4QZ, United Kingdom.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses .

4. Employee numbers

The average number of persons employed by the company during the period amounted to 2 (2018: 2).

5. Investments

	Shares in group undertakings
	£
Cost
At 1 November 2018 and 31 March 2020	502,502
	---------
Impairment
At 1 November 2018 and 31 March 2020	–
	---------

Carrying amount
At 31 March 2020	502,502
	---------
At 31 October 2018	502,502
	---------

6. Creditors: amounts falling due within one year

	31 Mar 20	31 Oct 18
	£	£
Amounts owed to group undertakings and undertakings in which the company has a participating interest	117,297	111,212
Other creditors	–	6,085
	---------	---------
	117,297	117,297
	---------	---------

7. Related party transactions

At the period end, the company owed £117,297 (2018: £111,212) to a group company.

8. Controlling party

The company's ultimate parent company is The Hazel Project Limited, a company incorporated in England and Wales. The Hazel Project Limited's registered address is Quayside House, Chatham Maritime, Chatham, United Kingdom, ME4 4QZ.