Xtrutech Ltd - Accounts to registrar (filleted) - small 18.2
Xtrutech Ltd - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 July 2018 |
| for |
| Xtrutech Ltd |
| Xtrutech Ltd (Registered number: 04495190) |
| Contents of the Financial Statements |
| for the Year Ended 31 July 2018 |
| Page |
| Balance Sheet | 1 |
| Notes to the Financial Statements | 3 |
| Xtrutech Ltd (Registered number: 04495190) |
| Balance Sheet |
| 31 July 2018 |
| 2018 | 2017 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| Xtrutech Ltd (Registered number: 04495190) |
| Balance Sheet - continued |
| 31 July 2018 |
| In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
| The financial statements were approved by the Board of Directors on by: |
| Xtrutech Ltd (Registered number: 04495190) |
| Notes to the Financial Statements |
| for the Year Ended 31 July 2018 |
| 1. | STATUTORY INFORMATION |
| Xtrutech Ltd is a |
| registered number and registered office address are as below: |
| Registered number: | 04495190 |
| Registered office: | Unit 5 Crown Road |
| Festival Park |
| Stoke-On-Trent |
| Staffordshire |
| ST1 5NJ |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the 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. |
| Revenue is recognised as the company becomes entitled to consideration for the goods and services supplied. |
| Therefore, turnover also includes the element of work completed but not yet invoiced on service contracts. |
| Tangible fixed assets |
| Freehold property | - |
| Short leasehold | - |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Computer equipment | - |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and |
| slow moving items. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, |
| 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. |
| Xtrutech Ltd (Registered number: 04495190) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 July 2018 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| Forward exchange contracts have been adjusted for in accordance with SSAP 20. |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those |
| held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance |
| leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to profit or loss over the relevant period. The capital |
| element of the future payments is treated as a liability. |
| 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| Xtrutech Ltd (Registered number: 04495190) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 July 2018 |
| 4. | TANGIBLE FIXED ASSETS |
| Freehold | Short | Plant and |
| property | leasehold | machinery |
| £ | £ | £ |
| COST |
| At 1 August 2017 |
| Additions |
| Disposals | ( |
) |
| At 31 July 2018 |
| DEPRECIATION |
| At 1 August 2017 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 31 July 2018 |
| NET BOOK VALUE |
| At 31 July 2018 |
| At 31 July 2017 |
| Fixtures |
| and | Motor | Computer |
| fittings | vehicles | equipment | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 August 2017 |
| Additions |
| Disposals | ( |
) |
| At 31 July 2018 |
| DEPRECIATION |
| At 1 August 2017 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 31 July 2018 |
| NET BOOK VALUE |
| At 31 July 2018 |
| At 31 July 2017 |
| Xtrutech Ltd (Registered number: 04495190) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 July 2018 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Plant and | Computer |
| machinery | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 August 2017 |
| and 31 July 2018 |
| DEPRECIATION |
| At 1 August 2017 |
| Charge for year |
| At 31 July 2018 |
| NET BOOK VALUE |
| At 31 July 2018 |
| At 31 July 2017 |
| 5. | DEBTORS |
| 2018 | 2017 |
| £ | £ |
| Amounts falling due within one year: |
| Trade debtors |
| Other debtors |
| Amounts falling due after more than one year: |
| Other debtors |
| Aggregate amounts |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts (see note 8) |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| Xtrutech Ltd (Registered number: 04495190) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 July 2018 |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Bank loans |
| Hire purchase contracts (see note 8) |
| Other creditors |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more 5 yr by instal | 282,229 | 237,571 |
| Included within other creditors, both due within one year and due after more than one year, is a combined |
| balance of £77,229 (2017: £24,931) which represents government grants, that are being amortisied in line with |
| the depreciation policy of the fixed assets the grants relates to. |
| 8. | LEASING AGREEMENTS |
| Minimum lease payments under hire purchase fall due as follows: |
| 2018 | 2017 |
| £ | £ |
| Net obligations repayable: |
| Within one year |
| Between one and five years |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2018 | 2017 |
| £ | £ |
| Bank loans |
| Hire purchase contracts | 6,665 | 26,271 |
| Bank loans are secured by a legal charge over the land and buildings held within the company. |
| Hire purchase balances are secured upon the assets to which they relate. |
| Xtrutech Ltd (Registered number: 04495190) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 July 2018 |
| 10. | FINANCIAL COMMITMENTS |
| Total financial commitments, guarantees and contingencies which are not included in the balance sheet |
| amount to £876,181 (2017 - £21,621) |
| Included in this figure is a lease of £840,000 relating to property entered into in the year, which represents the |
| total amount of payments remaining on the lease ending in 2027. |
| The remaining financial commitments represent the total amount of payments remaining on leases ending on |
| or before 2021. |