| X-treem Software Limited |
|
| Chartered Accountants' report to the board of directors on the preparation of the unaudited abbreviated accounts of X-treem Software Limited for the year ended 31 May 2016 |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abbreviated accounts of X-treem Software Limited for the year ended 31 May 2016 which comprise of 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, we are subject to its ethical and other professional requirements which are detailed at
icaew.com/membershandbook. |
| This report is made solely to the Company’s directors, as a body, in accordance with our current Terms of Business. Our work has been undertaken solely to prepare for your approval the accounts of X-treem Software Limited and state those matters that we have agreed to state to the Board of Directors of X-treem Software Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than X-treem Software Limited and its Board of Directors as a body for our work or for this report. |
| It is your duty to ensure that X-treem Software Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of X-treem Software Limited. You consider that X-treem Software 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 accounts of X-treem Software 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 abbreviated accounts. |
|
| Intouch Accounting Limited |
| Chartered Accountants |
| Everdene House |
| Deansleigh Road |
| Bournemouth |
| Dorset |
| BH7 7DU |
|
| 26 April 2017 |
|
| X-treem Software Limited |
| Registered number: |
05134131 |
| Abbreviated Balance Sheet |
| as at 31 May 2016 |
|
| Notes |
|
|
2016 |
|
|
2015 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
2 |
|
|
136 |
|
|
270 |
|
| Current assets |
| Debtors |
|
|
6,227 |
|
|
72,722 |
| Cash at bank and in hand |
|
|
2,106 |
|
|
17,541 |
|
|
|
8,333 |
|
|
90,263 |
|
| Creditors: amounts falling due within one year |
|
|
(20,505) |
|
|
(27,822) |
|
| Net current (liabilities)/assets |
|
|
|
(12,172) |
|
|
62,441 |
|
| Net (liabilities)/assets |
|
|
|
(12,036) |
|
|
62,712 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
3 |
|
|
10 |
|
|
10 |
| Profit and loss account |
|
|
|
(12,046) |
|
|
62,702 |
|
| Shareholder's funds |
|
|
|
(12,036) |
|
|
62,712 |
|
|
|
|
|
|
|
|
| The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The member has not required the company to obtain an audit in accordance with section 476 of the Act. |
| The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. |
|
|
|
| J Payne |
| Director |
| Approved by the board on 26 April 2017 |
|
| X-treem Software Limited |
| Notes to the Abbreviated Accounts |
| for the year ended 31 May 2016 |
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008). |
|
|
Turnover |
|
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers. |
|
|
Depreciation |
|
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. |
|
|
Office equipment |
20-50% straight line |
|
Motor vehicles |
- |
|
|
Work in progress |
|
Work in progress is valued at the lower of cost and net realisable value. Long term work in progress on service contracts extending beyond one accounting period is valued at net realisable value only where the right to consideration arises during the accounting period. |
|
|
Deferred taxation |
|
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse. |
|
|
Foreign currencies |
|
Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account. |
|
|
Leasing and hire purchase commitments |
|
Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability.
The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.
Rentals paid under operating leases are charged to income on a straight line basis over the lease term. |
|
|
Pensions |
|
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme. |
|
|
| 2 |
Tangible fixed assets |
£ |
|
|
Cost |
|
At 1 June 2015 |
5,073 |
|
At 31 May 2016 |
5,073 |
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 June 2015 |
4,802 |
|
Charge for the year |
135 |
|
At 31 May 2016 |
4,937 |
|
|
|
|
|
|
|
|
Net book value |
|
At 31 May 2016 |
136 |
|
At 31 May 2015 |
271 |
|
|
|
|
|
|
|
|
| 3 |
Share capital |
Nominal |
|
2016 |
|
2016 |
|
2015 |
| value |
Number |
£ |
£ |
|
Allotted, called up and fully paid: |
|
Ordinary shares |
£1 each |
|
10 |
|
10 |
|
10 |
|
|
|
|
|
|
|
|
|
