XTM International Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 04217452 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

FOR

XTM INTERNATIONAL LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

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

BUSINESS ADDRESS:

24 Maybrook Gardens

High Wycombe

Buckinghamshire

HP13 6PJ

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

4

-

45,000

Tangible assets

5

20,346

26,890

Investments

6

600

600

20,946

72,490

CURRENT ASSETS

Debtors

929,630

501,726

Cash at bank and in hand

261,465

128,034

1,191,095

629,760

CREDITORS

Amounts falling due within one year

160,988

93,424

NET CURRENT ASSETS

1,030,107

536,336

TOTAL ASSETS LESS CURRENT LIABILITIES

1,051,053

608,826

CREDITORS

Amounts falling due after more than one year

9,604

37,291

NET ASSETS

1,041,449

571,535

CAPITAL AND RESERVES

Called up share capital

8

83

83

Share premium

41,986

41,986

Capital redemption reserve

11

11

Capital contribution reserve

6,700

6,700

Retained earnings

992,669

522,755

SHAREHOLDERS' FUNDS

1,041,449

571,535

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2017 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 16 December 2017 and were signed on its behalf by:

R H Willans - Director

1.	STATUTORY INFORMATION

XTM International Limited is a private company, limited by shares , registered in England and Wales.

The company's registered number and registered office address can be found on the Company

Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The date of transition to FRS 102 was 01.04.2016. There were no adjustments arising on transition to

FRS 102.

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 is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured

at cost less any accumulated amortisation and any accumulated impairment losses.

Development expenditure are being amortised evenly over their estimated useful life of nil years.

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

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Financial instruments

The company uses certain financial instruments in its normal operating and investing activities, which

are deemed appropriate to its circumstances, such as trade receivables and trade payables, cash at

bank deposits, loans and equity shares. Financial assets and liabilities are recognised on the

company's balance sheet at amortised cost when the company has become a party to the contractual

provisions of the instrument.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement,

except to the extent that it relates to items recognised in other comprehensive income or directly in

equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been

enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods

different from those in which they are recognised in financial statements. Deferred tax is measured

using tax rates and laws that have been enacted or substantively enacted by the year end and that are

expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable

that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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 profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2016

and 31 March 2017

290,500

AMORTISATION

At 1 April 2016

245,500

Amortisation for year

45,000

At 31 March 2017

290,500

NET BOOK VALUE

At 31 March 2017

-

At 31 March 2016

45,000

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2016

76,302

Additions

2,183

At 31 March 2017

78,485

DEPRECIATION

At 1 April 2016

49,412

Charge for year

8,727

At 31 March 2017

58,139

NET BOOK VALUE

At 31 March 2017

20,346

At 31 March 2016

26,890

6.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST

At 1 April 2016

and 31 March 2017

600

NET BOOK VALUE

At 31 March 2017

600

At 31 March 2016

600

7.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Bank loans

19,636

29,209

The bank overdrafts and loans are secured by a charge over the company's assets.

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

32

Ordinary "A"

£1

32

32

32

Ordinary "B"

£1

32

32

8

Ordinary "C"

£1

8

8

11

Ordinary "D"

£1

11

11

83

83

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

annual unaudited financial statements. In accordance with the Companies Act 2006, the company is

only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain

other primary statements and the Report of the Directors are not required to be filed with the

Registrar of Companies.

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 2017 which comprise the

Income Statement, Abridged 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 2017