Xcalibre Equipment Limited - Limited company - abbreviated - 11.9

REGISTERED NUMBER: 02092169 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2015

FOR

XCALIBRE EQUIPMENT LIMITED

Page

Abbreviated Balance Sheet

1

Notes to the Abbreviated Accounts

3

FIXED ASSETS

Tangible assets

2

23,283

23,316

CURRENT ASSETS

Stocks

95,891

84,249

Debtors

333,063

314,120

Cash at bank and in hand

41,684

27,795

470,638

426,164

CREDITORS

Amounts falling due within one year

3

200,129

177,878

NET CURRENT ASSETS

270,509

248,286

TOTAL ASSETS LESS CURRENT LIABILITIES

293,792

271,602

CREDITORS

Amounts falling due after more than one year

3

-

(340

)

PROVISIONS FOR LIABILITIES

(4,125

)

(4,015

)

NET ASSETS

289,667

267,247

CAPITAL AND RESERVES

Called up share capital

4

20,000

20,000

Profit and loss account

269,667

247,247

SHAREHOLDERS' FUNDS

289,667

267,247

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2015 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 5 October 2015 and were signed by:

C R Molbech - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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.

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

20% on reducing balance

Furniture and equipment

-

25% on cost and 15% on reducing balance

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 includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account 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 the profit and loss account in the period to which they relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2014

122,675

Additions

5,145

At 31 March 2015

127,820

DEPRECIATION

At 1 April 2014

99,359

Charge for year

5,178

At 31 March 2015

104,537

NET BOOK VALUE

At 31 March 2015

23,283

At 31 March 2014

23,316

3.

CREDITORS

Creditors include an amount of £ 340 (2014 - £ 4,423 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

20,000

Ordinary

£1

20,000

20,000