XPEKT_LIMITED - Accounts

FIRST UNDERWRITING LIMITED - Company Information

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Company Registration No. 07857938 (England and Wales)

XPEKT LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2016

LB GROUP

Onslow House

62 Broomfield Road

Chelmsford

Essex

CM1 1SW

XPEKT LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

XPEKT LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

839

1,377

Investments

51,000

51,839

52,377

Current assets

Debtors

166,672

102,039

Cash at bank and in hand

99,307

139,267

265,979

241,306

Creditors: amounts falling due within one year

(104,957)

(123,680)

Net current assets

161,022

117,626

Total assets less current liabilities

212,861

170,003

Provisions for liabilities

(200)

(300)

212,661

169,703

Capital and reserves

Called up share capital

107

Profit and loss account

212,554

169,596

Shareholders' funds

212,661

169,703

For the financial year ended 31 March 2016 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 year 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 abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 28 June 2016

C Hart

Director

Company Registration No. 07857938

XPEKT LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Equipment

3 years straight line

1.5

Leasing

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

1.6

Investments

Fixed asset investments are stated at cost less provision for diminution in value.

1.7

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

XPEKT LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2016

- 3 -

Fixed assets

Tangible assets

Investments

Total

Cost

At 1 April 2015

20,067

51,000

71,067

Additions

489

At 31 March 2016

20,556

51,000

71,556

Depreciation

At 1 April 2015

18,690

Charge for the year

1,027

At 31 March 2016

19,717

Net book value

At 31 March 2016

839

51,000

51,839

At 31 March 2015

1,377

51,000

52,377

At the year end Xpekt Limited had interest in 51% of the share capital in Entire Cover Limited.

Share capital

2016

2015

Allotted, called up and fully paid

86 Ordinary shares of £1 each

100

1 Ordinary B shares of £1 each

1 Ordinary C shares of £1 each

107

Per a written resolution on 20/01/2015 14 of the Ordinary share capital was converted into E Shares. Leaving 86 Ordinary and 15 E Ordinary