XTM International Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 04217452 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

FOR

XTM INTERNATIONAL LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

Chartered Accountants' Report

7

DIRECTORS:

A B Zydron

R H Willans

SECRETARY:

R H Willans

REGISTERED OFFICE:

7/8 Eghams Court

Boston Drive

Bourne End

Buckinghamshire

SL8 5YS

REGISTERED NUMBER:

04217452 (England and Wales)

ACCOUNTANTS:

M R Salvage Limited

Chartered Accountants

7/8 Eghams Court

Boston Drive

Bourne End

Buckinghamshire

SL8 5YS

FIXED ASSETS

Intangible assets

2

45,000

138,000

Tangible assets

3

26,890

33,750

Investments

4

600

72,490

172,350

CURRENT ASSETS

Debtors

501,726

234,337

Cash at bank and in hand

128,034

40,501

629,760

274,838

CREDITORS

Amounts falling due within one year

5

93,424

113,457

NET CURRENT ASSETS

536,336

161,381

TOTAL ASSETS LESS CURRENT
LIABILITIES

608,826

333,731

CREDITORS

Amounts falling due after more than one
year

5

37,291

24,596

NET ASSETS

571,535

309,135

CAPITAL AND RESERVES

Called up share capital

6

83

Share premium

41,986

Capital redemption reserve

11

Capital contribution reserve

6,700

Profit and loss account

522,755

260,355

SHAREHOLDERS' FUNDS

571,535

309,135

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2016 in accordance with Section 476 of the Companies Act 2006.

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.

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 Board of Directors on 19 December 2016 and were signed on
its behalf by:

R H Willans - Director

1.	ACCOUNTING POLICIES

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 January 2015).

Preparation of consolidated financial statements

The financial statements contain information about XTM International Limited as an individual

company and do not contain consolidated financial information as the parent of a group. The company

has taken the option under Section 398 of the Companies Act 2006 not to prepare consolidated

financial statements.

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Software development expenditure

Software development expenditure is capitalised and amortised over its useful economic life,

estimated by directors to be 2 years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

33% on cost

Motor vehicles

-

20% on cost

Computer equipment

-

33% on cost

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.

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.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

and 31 March 2016

290,500

AMORTISATION

At 1 April 2015

152,500

Amortisation for year

93,000

At 31 March 2016

245,500

NET BOOK VALUE

At 31 March 2016

45,000

At 31 March 2015

138,000

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

71,228

Additions

5,074

At 31 March 2016

76,302

DEPRECIATION

At 1 April 2015

37,478

Charge for year

11,934

At 31 March 2016

49,412

NET BOOK VALUE

At 31 March 2016

26,890

At 31 March 2015

33,750

4.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 April 2015

and 31 March 2016

600

NET BOOK VALUE

At 31 March 2016

600

At 31 March 2015

600

The company's investments at the Balance Sheet date in the share capital of companies include the

following:

XTM International Inc

Country of incorporation: United States of America

Nature of business: Software development

%

Class of shares:

holding

Ordinary common stock

100.00

2016

2015

£

Aggregate capital and reserves

65,810

(75,333

)

Profit/(loss) for the year

164,977

(75,936

)

5.

CREDITORS

Creditors include an amount of £ 29,209 (2015 - £ 14,120 ) for which security has been given.

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

32

Ordinary "A"

£1

32

Ordinary "B"

£1

32

8

Ordinary "C"

£1

8

11

Ordinary "D"

£1

11

83

The following reproduces the text of the report prepared for the directors in respect of the company's

annual unaudited financial statements, from which the unaudited abbreviated accounts (set out on

pages two to six) have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval

the financial statements of XTM International Limited for the year ended 31 March 2016 which comprise the

Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records

and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of XTM International Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of XTM International Limited and state those matters that we have agreed to state to the Board of Directors of XTM International Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than XTM International Limited Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that XTM International Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of XTM International Limited. You consider that XTM International Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of XTM International Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

M R Salvage Limited

Chartered Accountants

7/8 Eghams Court

Boston Drive

Bourne End

Buckinghamshire

SL8 5YS

19 December 2016