Xafrex Ltd - Accounts to registrar (filleted) - small 18.2
Xafrex Ltd - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 March 2019 |
for |
Xafrex Ltd |
Xafrex Ltd (Registered number: 09509049) |
Contents of the Financial Statements |
for the Year Ended 31 March 2019 |
Page |
Balance Sheet | 1 |
Notes to the Financial Statements | 3 |
Xafrex Ltd (Registered number: 09509049) |
Balance Sheet |
31 March 2019 |
2019 | 2018 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 7 |
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. |
Xafrex Ltd (Registered number: 09509049) |
Balance Sheet - continued |
31 March 2019 |
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 signed on its behalf by: |
Xafrex Ltd (Registered number: 09509049) |
Notes to the Financial Statements |
for the Year Ended 31 March 2019 |
1. | COMPANY INFORMATION |
Xafrex Ltd is a |
company's registered number and registered office address are as below: |
Registered number: | 09509049 |
Registered office: | 49 Peter Street |
Manchester |
M2 3NG |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Significant judgements and estimates |
In the application of the company’s accounting policies, the directors are required to make |
judgements, estimates and assumptions about the carrying amount of assets and liabilities |
that are not readily apparent from other sources. The estimates and associated assumptions |
are based on historical experience and other factors that are considered to be relevant. |
Actual results may differ from these estimates. |
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to |
accounting estimates are recognised in the period in which the estimate is revised where the |
revision affects only that period, or in the period of the revision and future periods where the |
revision affects both current and future periods. |
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 from the provision of professional services is recognised on delivery of the service. |
Tangible fixed assets |
Tangible fixed assets are included at cost less depreciation and impairment. Depreciation |
has been computed to write off the cost of tangible fixed assets over their expected useful |
life. |
Computer equipment - 20% straight line |
Xafrex Ltd (Registered number: 09509049) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2019 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement |
of Income and Retained Earnings, 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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Computer |
equipment |
£ |
COST |
At 1 April 2018 |
and 31 March 2019 |
DEPRECIATION |
At 1 April 2018 |
Charge for year |
At 31 March 2019 |
NET BOOK VALUE |
At 31 March 2019 |
At 31 March 2018 |
Xafrex Ltd (Registered number: 09509049) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2019 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Other debtors |
S455 debtor | - | 1,125 |
Prepayments and accrued income |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Tax |
Social security and other taxes | ( |
) |
Directors' current accounts | 260 | - |
Accrued expenses |
7. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2019 | 2018 |
value: | £ | £ |
A Ordinary Shares | 1 | 60 | 60 |
B Ordinary Shares | 1 | 40 | 40 |
100 | 100 |
The Ordinary A shares rank equally in terms of voting rights, rights to participate in all |
dividend distributions and rights to participate in any capital distribution on winding up. |
The Ordinary B shares do not hold any voting rights and dividend rights are at the discretion |
of the Ordinary A shareholders. |
The A and B shares rank pari passu in respect of capital distribution rights. |
8. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
During the year the company operated a joint loan account with its directors. At the balance |
sheet date Xafrex Ltd owed the directors £260 (2018: £nil). |
Dividends totalling £43,700 (2018: £55,586) were paid in the year in respect of shares held |
by the company’s directors. |
9. | ULTIMATE CONTROLLING PARTY |
The controlling party is Dr M D Toerien. |