Abbreviated Company Accounts - X 2 CONNECT LIMITED

X 2 CONNECT LIMITED - Company Information

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Registered Number 04826493

X 2 CONNECT LIMITED

Abbreviated Accounts

31 December 2015

X 2 CONNECT LIMITED Registered Number 04826493

Abbreviated Balance Sheet as at 31 December 2015

	Notes	2015	2014
		£	£
Fixed assets
Tangible assets	2	215,026	228,726
		215,026	228,726
Current assets
Stocks		324,630	321,091
Debtors		300,676	361,857
Cash at bank and in hand		10,347	7,334
		635,653	690,282
Creditors: amounts falling due within one year		(319,487)	(425,262)
Net current assets (liabilities)		316,166	265,020
Total assets less current liabilities		531,192	493,746
Provisions for liabilities		(25,589)	(21,997)
Total net assets (liabilities)		505,603	471,749
Capital and reserves
Called up share capital	3	110	110
Profit and loss account		505,493	471,639
Shareholders' funds		505,603	471,749

For the year ending 31 December 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 29 September 2016

And signed on their behalf by:
M WHITE, Director

X 2 CONNECT LIMITED Registered Number 04826493

Notes to the Abbreviated Accounts for the period ended 31 December 2015

1Accounting Policies

Basis of measurement and preparation of accounts
The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover policy
The turnover shown in the profit and loss account represents amounts invoiced for work performed during the year, exclusive of Value Added Tax.

Tangible assets depreciation policy
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Leasehold Property - 4% straight line
Plant & Machinery - 7.5% and 15% reducing balance
Motor Vehicles - 25% reducing balance

2Tangible fixed assets

	£
Cost
At 1 January 2015	606,304
Additions	4,082
Disposals	-
Revaluations	-
Transfers	-
At 31 December 2015	610,386
Depreciation
At 1 January 2015	377,578
Charge for the year	17,782
On disposals	-
At 31 December 2015	395,360
Net book values
At 31 December 2015	215,026
At 31 December 2014	228,726

All fixed assets are initially recorded at cost.

3Called Up Share Capital
Allotted, called up and fully paid:

	2015 £	2014 £
100 Ordinary shares of £1 each (0 shares for 2014)	100	0
10 B Ordinary shares of £1 each	10	10

The ordinary B shares have rights to dividends only.