Registered Number 07079151
XELECTOR LIMITED
Abbreviated Accounts
31 December 2015
Notes | 2015 | 2014 | |
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£ | £ | ||
Fixed assets | |||
Intangible assets | 2 |
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Tangible assets | 3 |
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Current assets | |||
Debtors |
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|
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
( |
( |
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Net current assets (liabilities) |
( |
( |
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Total assets less current liabilities |
( |
( |
|
Total net assets (liabilities) |
( |
( |
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Capital and reserves | |||
Called up share capital | 4 |
|
|
Profit and loss account |
( |
( |
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Shareholders' funds |
( |
( |
Approved by the Board on
And signed on their behalf by:
1 Accounting Policies
Basis of measurement and preparation of accounts
Turnover policy
Tangible assets depreciation policy
Website - 20% straight line
Fixtures, fittings and equipment - 25% straight line
Intangible assets amortisation policy
Other accounting policies
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date. A net deferred tax asset is regarded as recoverable and therefore recognised only to the extent that, on the basis of all available evidence, it can be regarded as more likely than not that there will be suitable profits from which the future reversal of the underlying timing difference can be deducted. Deferred tax is measured at the average tax rates that are expected to apply when the timing differences reverse, based on current tax law and rates. Deferred tax assets and liabilities are not discounted.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange prevailing at the balance sheet date. Transactions in foreign currencies are recorded at the rate of exchange prevailing at the date of the transaction. All differences are taken to the profit and loss account.
Going concern
The accounts have been prepared on the going concern basis of accounting, on the assumption that the parent company will continue to provide financial support to enable the company to meet its current liabilities, which exceeded its current assets at 31 December 2015.
£ | |
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Cost | |
At 1 January 2015 |
|
Additions |
|
Disposals |
|
Revaluations |
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Transfers |
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At 31 December 2015 |
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Amortisation | |
At 1 January 2015 |
|
Charge for the year |
|
On disposals |
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At 31 December 2015 |
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Net book values | |
At 31 December 2015 | 92,864 |
At 31 December 2014 | 116,080 |
£ | |
---|---|
Cost | |
At 1 January 2015 |
|
Additions |
|
Disposals |
|
Revaluations |
|
Transfers |
|
At 31 December 2015 |
|
Depreciation | |
At 1 January 2015 |
|
Charge for the year |
|
On disposals |
|
At 31 December 2015 |
|
Net book values | |
At 31 December 2015 | 69,319 |
At 31 December 2014 | 97,977 |