Access XL Limited - Accounts to registrar (filleted) - small 18.1

Access XL Limited - Accounts to registrar (filleted) - small 18.1

ACCESS XL LIMITED - Company Information

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REGISTERED NUMBER: SC434643 (Scotland)















Unaudited Financial Statements for the Year Ended 31 December 2017

for

ACCESS XL LIMITED
ACCESS XL LIMITED (REGISTERED NUMBER: SC434643)

Contents of the Financial Statements
for the Year Ended 31 December 2017










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ACCESS XL LIMITED

Company Information
for the Year Ended 31 December 2017







DIRECTOR: C Laird





REGISTERED OFFICE: XL House
Blackburn Business Park
Woodburn Road
Blackburn
Aberdeen
AB21 0PS





REGISTERED NUMBER: SC434643 (Scotland)





1
ACCESS XL LIMITED (REGISTERED NUMBER: SC434643)

Balance Sheet
31 December 2017

2017 2016
as restated
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 602,932 289,127
Tangible assets 5 1,641 2,578
604,573 291,705

CURRENT ASSETS
Stocks 102,485 35,098
Debtors 6 486,502 391,197
Cash at bank and in hand 126,710 75,491
715,697 501,786
CREDITORS
Amounts falling due within one year 7 2,116,810 1,549,401
NET CURRENT LIABILITIES (1,401,113 ) (1,047,615 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
(796,540
)
(755,910
)

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (796,541 ) (755,911 )
SHAREHOLDERS' FUNDS (796,540 ) (755,910 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 notes form part of these financial statements

2
ACCESS XL LIMITED (REGISTERED NUMBER: SC434643)

Balance Sheet - continued
31 December 2017


The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 15 May 2018 and were signed by:





C Laird - Director


The notes form part of these financial statements

3
ACCESS XL LIMITED (REGISTERED NUMBER: SC434643)

Notes to the Financial Statements
for the Year Ended 31 December 2017


1. STATUTORY INFORMATION

Access XL Limited is a private company, limited by shares , registered in Scotland. 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,
value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost
less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost

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 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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the
lease.

4
ACCESS XL LIMITED (REGISTERED NUMBER: SC434643)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2017


2. ACCOUNTING POLICIES - continued

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 26 (2016 - 30 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2017 289,127
Additions 313,805
At 31 December 2017 602,932
NET BOOK VALUE
At 31 December 2017 602,932
At 31 December 2016 289,127

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2017
and 31 December 2017 3,750
DEPRECIATION
At 1 January 2017 1,172
Charge for year 937
At 31 December 2017 2,109
NET BOOK VALUE
At 31 December 2017 1,641
At 31 December 2016 2,578

5
ACCESS XL LIMITED (REGISTERED NUMBER: SC434643)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2017


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2016
as restated
£    £   
Trade debtors 204,553 198,783
Amounts owed by participating interests 18,668 5,627
Other debtors 263,281 186,787
486,502 391,197

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2016
as restated
£    £   
Trade creditors 231,622 149,635
Amounts owed to participating interests 1,857,048 1,376,702
Taxation and social security 15,371 8,503
Other creditors 12,769 14,561
2,116,810 1,549,401

8. ULTIMATE CONTROLLING PARTY

The controlling party is C Laird.

9. GOING CONCERN

These accounts have been prepared on the going concern basis, on the understanding that the director and
shareholders will continue to financially support the company.

6