Xapsys Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09627623 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2019

FOR

XAPSYS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr P J Cox

Mr NN Cox

Mr T L J Geraghty

Mr J Kowalski

REGISTERED OFFICE:

17 Boston Road

Gorse Hill Industrial Estate

Leicester

Leicestershire

LE4 1AW

REGISTERED NUMBER:

09627623 (England and Wales)

CURRENT ASSETS

Debtors

4

43,215

5,440

Cash at bank and in hand

1,362

3,699

44,577

9,139

CREDITORS

Amounts falling due within one year

5

38,576

5,138

NET CURRENT ASSETS

6,001

4,001

TOTAL ASSETS LESS CURRENT LIABILITIES

6,001

4,001

CAPITAL AND RESERVES

Called up share capital

6

1,000

1,000

Retained earnings

5,001

3,001

SHAREHOLDERS' FUNDS

6,001

4,001

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 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 applicable to companies subject to the small companies regime.

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 4 November 2019 and were signed on its behalf by:

Mr P J Cox - Director

Mr T L J Geraghty - Director

1.	STATUTORY INFORMATION

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

TURNOVER

Revenue comprises the fair value of the sale of services, excluding value added tax. The company provides services

to customers under standard terms and conditions. In all cases revenue is recognised when the risks and rewards of

ownership are transferred and this is defined to be on completion of services, except in respect of service contracts

where revenue is recognised when the company obtains the right to consideration.

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.

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.

CREDITORS

Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are

measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the

effective interest method.

DEBTORS

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at

fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest

method, less any impairment.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2018 - 3 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

900

2,800

Amounts recoverable on contract

9,520

-

Other debtors

32,795

2,640

43,215

5,440

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

698

2,619

Taxation and social security

16,474

634

Other creditors

21,404

1,885

38,576

5,138

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

350

Ordinary A

1

350

1,000

350

Ordinary B

1

350

-

300

Ordinary C-D

1

200

-

900

1,000

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2019 and

31 March 2018:

2019

2018

£

£

Mr P J Cox

Balance outstanding at start of year

-

-

Amounts advanced

24,600

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

24,600

-

8.	RELATED PARTY DISCLOSURES

At the end of the period an amount of £19,867 (2018 : £Nil) was owed to Trifibre Limited. Mr NN Cox is a director

and shareholder of Trifibre Limited.

At the end of the period an amount of £162 (2018 : £NIL) was owed to Very Displays Limited. Mr NN Cox is a

director and shareholder of Very Displays Limited.