Draft Financial Statements
X Land Limited
Abbreviated accounts
30 December 2013
MGR Weston Kay LLP
Chartered Accountants
55 Loudoun Road
St John's Wood
London NW8 0DL
Company Registration No. 03359910
(England and Wales)
Draft Financial Statements
X Land Limited
Abbreviated accounts
For the year ended 30 December 2013
Contents
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3
Draft Financial Statements
X Land Limited
Abbreviated balance sheet
As at 30 December 2013
- 1 -
2013
2012
Notes
£
£
£
£
Fixed assets
Tangible assets
2
1,308
1,744
Current assets
Debtors
852,237
912,907
Cash at bank and in hand
207,455
40,472
1,059,692
953,379
Creditors: amounts falling due within one year
(125,872)
(130,348)
Net current assets
933,820
823,031
Total assets less current liabilities
935,128
824,775
Creditors: amounts falling due after more than one year
(897,184)
(929,130)
37,944
(104,355)
Capital and reserves
Called up share capital
3
50
50
Profit and loss account
37,894
(104,405)
Shareholders' funds
37,944
(104,355)
For the financial year ended 30 December 2013 the company was entitled to exemption from audit under section 477 of the Companies Act 2006. The members have not required the company to obtain an audit of these financial statements in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit or loss for the 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 accounts, so far as applicable to the company.
These abbreviated accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved by the Board for issue on .........................
..............................
P Williams
Director
Company Registration No. 03359910
Draft Financial Statements
X Land Limited
Notes to the abbreviated accounts
For the year ended 30 December 2013
1
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 April 2008).
1.2
Turnover
Turnover represents amounts receivable on sale of properties and services rendered net of value added tax.
1.3
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:
Fixtures, fittings & equipment
25% reducing balance
1.4
Deferred taxation
Deferred taxation is provided at appropriate rates on all timing differences using the liability method only to the extent that, in the opinion of the directors, there is a reasonable probability that a liability or asset will crystallise in the foreseeable future.
2
Fixed assets
Tangible assets
£
Cost
At 31 December 2012 & at 30 December 2013
24,664
Depreciation
At 31 December 2012
22,920
Charge for the year
436
At 30 December 2013
23,356
Net book value
At 30 December 2013
1,308
At 30 December 2012
1,744
3
Share capital
2013
2012
£
£
Allotted, called up and fully paid
5,000 Ordinary shares of 1p each
50
50
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