XL Engineering Trading Limited - Accounts to registrar (filleted) - small 18.1

XL Engineering Trading Limited - Accounts to registrar (filleted) - small 18.1

XL ENGINEERING TRADING LIMITED - Company Information

Print Friendly Version

IRIS Accounts Production v18.1.2.30 05676190 K Harrop Board of Directors D Frost Board of Directors J Banks Board of Directors 1.5.17 30.4.18 30.4.18 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure056761902017-04-30056761902018-04-30056761902017-05-012018-04-30056761902016-04-30056761902016-05-012017-04-30056761902017-04-3005676190ns15:EnglandWales2017-05-012018-04-3005676190ns14:PoundSterling2017-05-012018-04-3005676190ns10:Director12017-05-012018-04-3005676190ns10:Director22017-05-012018-04-3005676190ns10:Director32017-05-012018-04-3005676190ns10:PrivateLimitedCompanyLtd2017-05-012018-04-3005676190ns10:SmallEntities2017-05-012018-04-3005676190ns10:AuditExempt-NoAccountantsReport2017-05-012018-04-3005676190ns10:SmallCompaniesRegimeForDirectorsReport2017-05-012018-04-3005676190ns10:SmallCompaniesRegimeForAccounts2017-05-012018-04-3005676190ns10:FullAccounts2017-05-012018-04-3005676190ns10:CompanySecretary12017-05-012018-04-3005676190ns10:RegisteredOffice2017-05-012018-04-3005676190ns5:CurrentFinancialInstruments2018-04-3005676190ns5:CurrentFinancialInstruments2017-04-3005676190ns5:Non-currentFinancialInstruments2018-04-3005676190ns5:Non-currentFinancialInstruments2017-04-3005676190ns5:ShareCapital2018-04-3005676190ns5:ShareCapital2017-04-3005676190ns5:RetainedEarningsAccumulatedLosses2018-04-3005676190ns5:RetainedEarningsAccumulatedLosses2017-04-3005676190ns5:CurrentFinancialInstrumentsns5:WithinOneYear2018-04-3005676190ns5:CurrentFinancialInstrumentsns5:WithinOneYear2017-04-30


REGISTERED NUMBER: 05676190 (England and Wales)











Unaudited Financial Statements

for the Year Ended 30 April 2018

for

XL Engineering Trading Limited
XL Engineering Trading Limited (Registered number: 05676190)






Contents of the Financial Statements
for the Year Ended 30 April 2018




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


XL Engineering Trading Limited

Company Information
for the Year Ended 30 April 2018







DIRECTORS: K Harrop
D Frost
J Banks





SECRETARY: K Harrop





REGISTERED OFFICE: The Glades
Festival Way
Festival Park
Stoke on Trent
ST1 5SQ





REGISTERED NUMBER: 05676190 (England and Wales)





Page 1
XL Engineering Trading Limited (Registered number: 05676190)

Statement of Financial Position
30 April 2018

2018 2017
Notes £    £   
CURRENT ASSETS
Stocks 244,843 212,469
Debtors 5 790,380 750,811
Cash at bank 556,364 562,205
1,591,587 1,525,485
CREDITORS
Amounts falling due within one year 6 1,009,959 977,398
NET CURRENT ASSETS 581,628 548,087
TOTAL ASSETS LESS CURRENT
LIABILITIES
581,628
548,087

CREDITORS
Amounts falling due after more than
one year
7
400,000
400,000
NET ASSETS 181,628 148,087

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 181,528 147,987
SHAREHOLDERS' FUNDS 181,628 148,087

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2018 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 notes form part of these financial statements

Page 2 continued...
XL Engineering Trading Limited (Registered number: 05676190)

Statement of Financial Position - continued
30 April 2018


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 1 June 2018 and were signed on its
behalf by:




K Harrop - Director D Frost - Director




J Banks - Director


The notes form part of these financial statements

Page 3
XL Engineering Trading Limited (Registered number: 05676190)

Notes to the Financial Statements
for the Year Ended 30 April 2018

1. STATUTORY INFORMATION

XL Engineering Trading 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements cover the company as an individual entity, have been prepared under the
historical cost convention and are presented in Pounds Sterling (£) being the functional currency.

The financial statements have been prepared on the assumption that the company is able to carry
on business as a going concern, which the directors consider appropriate having regard to the
company's current and expected performance.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard
102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' section 1AC.35,
not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding
discounts, rebates, value added tax and other sales taxes.

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making
due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and
handling costs in bringing stocks to their present location and condition.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in
non-convertible preference and non-puttable ordinary shares which are measured at fair value, with
changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost
and thereafter at fair value with changes recognised in profit or loss.

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 statement of financial position date.


Page 4 continued...
XL Engineering Trading Limited (Registered number: 05676190)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2018

3. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed
at the statement of financial position 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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the
period of the lease.

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.

4. EMPLOYEES

The average number of employees during the year was 46 (2017 - 50 ) .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Trade debtors 728,470 690,096
Other debtors 61,910 60,715
790,380 750,811

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Trade creditors 299,141 217,015
Amounts owed to group undertakings 492,396 591,557
Taxation and social security 173,642 132,516
Other creditors 44,780 36,310
1,009,959 977,398

Page 5 continued...
XL Engineering Trading Limited (Registered number: 05676190)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2018

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2018 2017
£    £   
Amounts owed to group undertakings 400,000 400,000

8. SECURED DEBTS

The following secured debts are included within creditors:

2018 2017
£    £   
Amounts owed to group 892,396 991,557

The group balance is secured by a fixed and floating charge over all assets of the company.

Page 6