X-Innovations Ltd. - Abbreviated accounts 16.1
X-Innovations Ltd. - Abbreviated accounts 16.1
| REGISTERED NUMBER: |
| ABBREVIATED UNAUDITED ACCOUNTS |
| FOR THE YEAR ENDED 31ST DECEMBER 2015 |
| FOR |
| X-INNOVATIONS LTD. |
| X-INNOVATIONS LTD. (REGISTERED NUMBER: 02881767) |
| CONTENTS OF THE ABBREVIATED ACCOUNTS |
| FOR THE YEAR ENDED 31ST DECEMBER 2015 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 4 |
| X-INNOVATIONS LTD. |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31ST DECEMBER 2015 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| X-INNOVATIONS LTD. (REGISTERED NUMBER: 02881767) |
| ABBREVIATED BALANCE SHEET |
| 31ST DECEMBER 2015 |
| 2015 | 2014 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 2 |
| CURRENT ASSETS |
| Stocks |
| Debtors |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 3 |
| Revaluation reserve |
| Profit and loss account |
| SHAREHOLDERS' FUNDS |
| 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. |
| X-INNOVATIONS LTD. (REGISTERED NUMBER: 02881767) |
| ABBREVIATED BALANCE SHEET - continued |
| 31ST DECEMBER 2015 |
| The financial statements were approved by the Board of Directors on behalf by: |
| X-INNOVATIONS LTD. (REGISTERED NUMBER: 02881767) |
| NOTES TO THE ABBREVIATED ACCOUNTS |
| FOR THE YEAR ENDED 31ST DECEMBER 2015 |
| 1. | ACCOUNTING POLICIES |
| Accounting convention |
| The financial statements have been prepared under the historical cost convention as modified by the revaluation |
| of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective January |
| 2015). |
| Turnover |
| Turnover represents net invoiced sales of goods, excluding value added tax. |
| Tangible fixed assets |
| Freehold property | - |
| Plant & equipment | - |
| Fixtures and fittings | - |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
| moving items. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
| sheet date. |
| 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. |
| Pensions |
| The company operates a defined contribution pension scheme. Contributions payable for the year are charged in |
| the profit and loss account. |
| 2. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST OR VALUATION |
| At 1st January 2015 |
| Additions |
| Revaluations |
| At 31st December 2015 |
| DEPRECIATION |
| At 1st January 2015 |
| Charge for year |
| At 31st December 2015 |
| NET BOOK VALUE |
| At 31st December 2015 |
| At 31st December 2014 |
| X-INNOVATIONS LTD. (REGISTERED NUMBER: 02881767) |
| NOTES TO THE ABBREVIATED ACCOUNTS - continued |
| FOR THE YEAR ENDED 31ST DECEMBER 2015 |
| 3. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2015 | 2014 |
| value: | £ | £ |
| Ordinary A | £1 |
| (2014 - |
| Ordinary B | £1 |
| (2014 - |
| Ordinary C | £1 |
| 1,336 | 1,336 |