Xcel 2000 Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 08494937 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2017

FOR

XCEL 2000 LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

P D Gausten

L F Harrison

REGISTERED OFFICE:

8 London Road

Sittingbourne

Kent

ME10 1NA

REGISTERED NUMBER:

08494937 (England and Wales)

ACCOUNTANTS:

Williams Giles Limited

Chartered Accountants

12 Conqueror Court

Sittingbourne

Kent

ME10 5BH

FIXED ASSETS

Investments

4

502,502

502,502

CREDITORS

Amounts falling due within one year

5

117,297

101,297

NET CURRENT LIABILITIES

(117,297

)

(101,297

)

TOTAL ASSETS LESS CURRENT LIABILITIES

385,205

401,205

CAPITAL AND RESERVES

Called up share capital

102

102

Retained earnings

385,103

401,103

SHAREHOLDERS' FUNDS

385,205

401,205

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

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 5 April 2018 and were signed on its behalf by:

P D Gausten - Director

1.	STATUTORY INFORMATION

Xcel 2000 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.

First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A

This is the first year in which the financial statements have been prepared under FRS102. The last financial

statements prepared under previous UK GAAP were for the year ended 31 October 2016 and the date of

transition to FRS102 was therefore 1 November 2015. As a consequence of adopting FRS102 a small number of

accounting policies have changed to comply with those standards.

As a result of the adoption of FRS102, there have been no transitional or prior year adjustments required to the

financial statements.

Preparation of consolidated financial statements

The financial statements contain information about Xcel 2000 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.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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.

Fixed asset investments

Investments held as fixed assets are stated at market value less any provisions for impairment. Investments are

reviewed for impairment annually and if events of changes in circumstances indicate that the carrying value may

not be recoverable. Impairments are calculated such that the carrying value of the fixed asset investment is the

lower of its cost or recoverable amount. The recoverable amount is the higher of net realisable value and value in

use.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2016 - NIL).

4.	FIXED ASSET INVESTMENTS

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Amounts owed to group undertakings

111,092

94,972

Other creditors

6,205

6,325

117,297

101,297