Abbreviated Company Accounts - XL LIMITED

Registered Number 05974549

XL LIMITED

Abbreviated Accounts

31 December 2015

XL LIMITED Registered Number 05974549

Abbreviated Balance Sheet as at 31 December 2015

	Notes	31/12/2015	31/10/2014
		£	£
Fixed assets
Tangible assets	2	2,365,423	282,365
		2,365,423	282,365
Current assets
Stocks		73,400	64,149
Debtors		304,979	87,308
Cash at bank and in hand		447,236	110,826
		825,615	262,283
Creditors: amounts falling due within one year		(1,383,887)	(135,682)
Net current assets (liabilities)		(558,272)	126,601
Total assets less current liabilities		1,807,151	408,966
Creditors: amounts falling due after more than one year		(1,450,000)	(338,226)
Total net assets (liabilities)		357,151	70,740
Capital and reserves
Called up share capital		100	100
Profit and loss account		357,051	70,640
Shareholders' funds		357,151	70,740

For the year ending 31 December 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 15 January 2016

And signed on their behalf by:
Jeffrey Smith, Director

XL LIMITED Registered Number 05974549

Notes to the Abbreviated Accounts for the period ended 31 December 2015

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents invoiced sales net of VAT.

Tangible assets depreciation policy
Fixed assets are depreciated at rates estimated to write off their cost less estimated residual value over the life of the asset.
Motor vehicles are acquired under contract with confirmed resale prices. Depreciation is charged at 10% pa straight line
Plant, machinery and fixtures are depreciated at 20% straight line.
Leasehold improvements are depreciated at 10% straight line.

2Tangible fixed assets

	£
Cost
At 1 November 2014	362,660
Additions	2,727,697
Disposals	(409,109)
Revaluations	-
Transfers	-
At 31 December 2015	2,681,248
Depreciation
At 1 November 2014	80,295
Charge for the year	276,440
On disposals	(40,910)
At 31 December 2015	315,825
Net book values
At 31 December 2015	2,365,423
At 31 October 2014	282,365