Xcalibre Equipment Limited - Accounts to registrar (filleted) - small 18.2

Xcalibre Equipment Limited - Accounts to registrar (filleted) - small 18.2

XCALIBRE EQUIPMENT LIMITED - Company Information

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REGISTERED NUMBER: 02092169 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

FOR

XCALIBRE EQUIPMENT LIMITED









XCALIBRE EQUIPMENT LIMITED (REGISTERED NUMBER: 02092169)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 December 2021




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


XCALIBRE EQUIPMENT LIMITED

COMPANY INFORMATION
for the year ended 31 December 2021







DIRECTOR: C R Molbech



REGISTERED OFFICE: Unit 3, Starley Court
Hotchkiss Way, Binley Ind Estate
Brandon Road
Coventry
West Midlands
CV3 2RL



REGISTERED NUMBER: 02092169 (England and Wales)



BANKERS: Barclays Bank PLC
Coventry 2
Leicestershire
LE87 2BB
Page 1
XCALIBRE EQUIPMENT LIMITED (REGISTERED NUMBER: 02092169)

ABRIDGED BALANCE SHEET
31 December 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 55,726 63,989
55,726 63,989

CURRENT ASSETS
Stocks 115,161 113,455
Debtors 272,676 138,927
Cash at bank and in hand 101,516 389,413
489,353 641,795
CREDITORS
Amounts falling due within one year 164,616 350,690
NET CURRENT ASSETS 324,737 291,105
TOTAL ASSETS LESS CURRENT
LIABILITIES
380,463
355,094

CREDITORS
Amounts falling due after more than one
year
6
(44,660
)
(49,062
)

PROVISIONS FOR LIABILITIES (10,588 ) (11,968 )
NET ASSETS 325,215 294,064

CAPITAL AND RESERVES
Called up share capital 9 20,000 20,000
Retained earnings 305,215 274,064
SHAREHOLDERS' FUNDS 325,215 294,064

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 notes form part of these financial statements

Page 2 continued...
XCALIBRE EQUIPMENT LIMITED (REGISTERED NUMBER: 02092169)

ABRIDGED BALANCE SHEET - continued
31 December 2021


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 Income Statement and an abridged Balance Sheet for the year ended 31 December 2021 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 director and authorised for issue on 11 July 2022 and were signed by:





C R Molbech - Director


The notes form part of these financial statements

Page 3
XCALIBRE EQUIPMENT LIMITED (REGISTERED NUMBER: 02092169)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 December 2021

1. STATUTORY INFORMATION

Xcalibre Equipment 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.

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 accounts have been prepared in accordance with applicable accounting standards. The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover comprises the value of sales (excluding value added tax, similar taxes and trade discounts) of goods and services provided in the normal course of the business.

Revenue is recognised when the goods are despatched, which is the same day on which the goods are delivered and hence is the point at which the risks and rewards of ownership passes to the buyer.

In respect of hire contracts the revenue is recognised when the company obtains the right to consideration.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of four years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 10% on cost
Fixtures & fittings - 25% on cost and 10% on cost
Motor vehicles - 25% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Page 4 continued...
XCALIBRE EQUIPMENT LIMITED (REGISTERED NUMBER: 02092169)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2021

2. ACCOUNTING POLICIES - continued

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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

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 8 (2020 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2021
and 31 December 2021 6,590
AMORTISATION
At 1 January 2021
and 31 December 2021 6,590
NET BOOK VALUE

At 31 December 2021 -
At 31 December 2020 -

Page 5 continued...
XCALIBRE EQUIPMENT LIMITED (REGISTERED NUMBER: 02092169)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2021

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2021 212,242
Additions 6,209
Disposals (14,470 )
At 31 December 2021 203,981
DEPRECIATION
At 1 January 2021 148,253
Charge for year 14,254
Eliminated on disposal (14,252 )
At 31 December 2021 148,255
NET BOOK VALUE
At 31 December 2021 55,726
At 31 December 2020 63,989

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
2021 2020
£    £   
Repayable by instalments
Bank loans - more than 5 years 23,300 21,274

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2021 2020
£    £   
Within one year - 6,694

8. SECURED DEBTS

The following secured debts are included within creditors:

2021 2020
£    £   
Bank loans 50,000 50,000

The bank loan is a bounce back loan and 100% of the loan is guaranteed by the government.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2021 2020
value: £    £   
20,000 Ordinary £1 20,000 20,000

Page 6 continued...
XCALIBRE EQUIPMENT LIMITED (REGISTERED NUMBER: 02092169)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2021

10. PENSION COMMITMENTS

The company operates a defined contribution pension scheme in respect of the director and certain employees. The scheme and its assets are held by independent managers. The pension charge represents contributions due from the company and amounted to £80,672 (31 December 2020 - £82,282). At the balance sheet date there were outstanding contributions of £nil (2020 - £154).

Page 7