Company Registration No. 08815244 (England and Wales)
XEPHYR LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2015
XEPHYR LIMITED
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 5
XEPHYR LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 DECEMBER 2015
31 December 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
67,302
76,081
Investments
2
1,251,369
1,188,073
1,318,671
1,264,154
Current assets
Stocks
32,895
21,446
Debtors
520,928
686,324
Cash at bank and in hand
271,185
269,874
825,008
977,644
Creditors: amounts falling due within one year
(1,989,296)
(1,765,709)
Net current liabilities
(1,164,288)
(788,065)
Total assets less current liabilities
154,383
476,089
Provisions for liabilities
(5,133)
(6,249)
149,250
469,840
Capital and reserves
Called up share capital
3
1,000
1,000
Profit and loss account
148,250
468,840
Shareholders' funds
149,250
469,840
XEPHYR LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2015
31 December 2015
- 2 -
For the financial year ended 31 December 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 14 September 2016
Mr Marc Labelda
Mr Simon Evans
Director
Director
Company Registration No. 08815244
XEPHYR LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2015
- 3 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2
Turnover
Turnover represents amounts receivable for services net of VAT and trade discounts.
1.3
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Land and buildings Leasehold
10 years straight line
Fixtures, fittings & equipment
15% written down value
1.4
Investments
Fixed asset investments are stated at cost less provision for diminution in value.
1.5
Foreign currency translation
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.
1.6
Group accounts
The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking comprise a small-sized group. The company has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts.
XEPHYR LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2015
- 4 -
2
Fixed assets
Tangible assets
Investments
Total
£
£
£
Cost
At 1 January 2015
87,183
1,203,073
1,290,256
Additions
1,471
1,974,511
1,975,982
Revaluation
-
(1,926,215)
(1,926,215)
At 31 December 2015
88,654
1,251,369
1,340,023
Depreciation
At 1 January 2015
11,102
-
11,102
Charge for the year
10,250
-
10,250
At 31 December 2015
21,352
-
21,352
Net book value
At 31 December 2015
67,302
1,251,369
1,318,671
At 31 December 2014
76,081
1,188,073
1,264,154
Holdings of more than 20%
The company holds more than 20% of the share capital of the following companies:
Company
Country of registration or
Shares held
incorporation
Class
%
Subsidiary undertakings
A1 Company Services Limited
England & Wales
Ordinary shares
100.00
247 Incorporators Limited
England & Wales
Ordinary shares
100.00
QF Registrars Limited
England & Wales
Ordinary shares
100.00
Corporate Business Centre Limited
England & Wales
Ordinary shares
100.00
Formations Direct Limited
England & Wales
Ordinary shares
100.00
XEPHYR LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2015
2
Fixed assets
(Continued)
- 5 -
The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:
Capital and reserves
Profit/(loss) for the year
2015
2015
Principal activity
£
£
A1 Company Services Limited
Dormant
1
-
247 Incorporators Limited
Dormant
1
-
QF Registrars Limited
Dormant
200
-
Corporate Business Centre Limited
Provision of corporate business services
200
1,296,554
Formations Direct Limited
Provision of corporate business services
249,872
(34,508)
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
900 Ordinary shares of £1 each
900
900
100 A Ordinary shares of £1 each
100
100
1,000
1,000
All ordinary shares carry equal rights except that a dividend may be paid on one class of shares but not on the other or differing amounts may be paid for each class.
4
Ultimate parent company
Milstead Worldwide Limited (BVI) has a 90% interest in the issued ordinary share capital of the company and is the company's immediate and ultimate parent undertaking. Milstead Worldwide Limited (BVI) is registered in the British Virgin Islands.
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