Xtech Electrical Ltd |
Registered number: |
08876518 |
Balance Sheet |
as at 28 February 2022 |
|
Notes |
|
|
2022 |
|
|
2021 |
£ |
£ |
Fixed assets |
Tangible assets |
3 |
|
|
- |
|
|
909 |
|
Current assets |
Debtors |
4 |
|
3,708 |
|
|
7,033 |
Cash at bank and in hand |
|
|
12,890 |
|
|
18,634 |
|
|
|
16,598 |
|
|
25,667 |
|
Creditors: amounts falling due within one year |
5 |
|
(6,904) |
|
|
(9,723) |
|
Net current assets |
|
|
|
9,694 |
|
|
15,944 |
|
Total assets less current liabilities |
|
|
|
9,694 |
|
|
16,853 |
|
|
Provisions for liabilities |
|
|
|
- |
|
|
(173) |
|
|
Net assets |
|
|
|
9,694 |
|
|
16,680 |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
100 |
|
|
100 |
Profit and loss account |
|
|
|
9,594 |
|
|
16,580 |
|
Shareholders' funds |
|
|
|
9,694 |
|
|
16,680 |
|
|
|
|
|
|
|
|
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
The directors acknowledge their 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 and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
Radoslaw Pyzik |
Director |
Approved by the board on 5 September 2022 |
|
Xtech Electrical Ltd |
Notes to the Accounts |
for the year ended 28 February 2022 |
|
|
1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
Plant and machinery |
over 4 years |
|
Fixtures, fittings, tools and equipment |
over 4 years |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Current and deferred tax liabilities are not discounted. |
|
|
Provisions |
|
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
|
|
Leased assets |
|
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. |
|
|
2 |
Employees |
2022 |
|
2021 |
Number |
Number |
|
|
Average number of persons employed by the company |
1 |
|
1 |
|
|
|
|
|
|
|
|
|
|
3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Plant and machinery etc |
£ |
|
Cost |
|
At 1 March 2021 |
10,137 |
|
At 28 February 2022 |
10,137 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 March 2021 |
9,228 |
|
Charge for the year |
909 |
|
At 28 February 2022 |
10,137 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 28 February 2022 |
- |
|
At 28 February 2021 |
909 |
|
|
4 |
Debtors |
2022 |
|
2021 |
£ |
£ |
|
|
Trade debtors |
348 |
|
1,000 |
|
Other debtors, excess recoverable CIS |
3,360 |
|
6,033 |
|
|
|
|
|
|
3,708 |
|
7,033 |
|
|
|
|
|
|
|
|
|
|
5 |
Creditors: amounts falling due within one year |
2022 |
|
2021 |
£ |
£ |
|
|
Obligations under finance lease and hire purchase contracts |
- |
|
308 |
|
Trade creditors |
1,200 |
|
1,246 |
|
Taxation and social security costs |
3,413 |
|
6,956 |
|
Other creditors, directors loan |
2,291 |
|
1,213 |
|
|
|
|
|
|
6,904 |
|
9,723 |
|
|
|
|
|
|
|
|
|
|
6 |
Other information |
|
|
Xtech Electrical Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
|
41 Trewenna Drive |
|
Potters Bar |
|
Hertfordshire |
|
EN6 5JW |