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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 OCTOBER 2017 |
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XENTAIR INTERNATIONAL LIMITED |
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REGISTERED NUMBER:
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 OCTOBER 2017 |
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FOR |
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XENTAIR INTERNATIONAL LIMITED |
XENTAIR INTERNATIONAL LIMITED (REGISTERED NUMBER: 05608092) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 OCTOBER 2017 |
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Company Information | 1 |
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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 4 |
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XENTAIR INTERNATIONAL LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 OCTOBER 2017 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Certified Accountants |
Wellington Office |
Stratfield Saye |
Reading |
Berkshire |
RG7 2BT |
XENTAIR INTERNATIONAL LIMITED (REGISTERED NUMBER: 05608092) |
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STATEMENT OF FINANCIAL POSITION |
31 OCTOBER 2017 |
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31.10.17 | 31.10.16 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks |
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Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
7 |
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PROVISIONS FOR LIABILITIES | 8 | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
XENTAIR INTERNATIONAL LIMITED (REGISTERED NUMBER: 05608092) |
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STATEMENT OF FINANCIAL POSITION - continued |
31 OCTOBER 2017 |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
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The financial statements were approved by the Board of Directors on
behalf by: |
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XENTAIR INTERNATIONAL LIMITED (REGISTERED NUMBER: 05608092) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 OCTOBER 2017 |
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1. | STATUTORY INFORMATION |
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Xentair International Limited is a
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The company's registered number and registered office address can be found on the Company |
Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, |
rebates, value added tax and other sales taxes. |
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Tangible fixed assets |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Computer equipment | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for |
obsolete and slow moving items. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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 statement of financial position date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
the statement of financial position date. |
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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. |
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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. |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at |
the statement of financial position date. Transactions in foreign currencies are translated into sterling |
at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account |
in arriving at the operating result. |
XENTAIR INTERNATIONAL LIMITED (REGISTERED NUMBER: 05608092) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 OCTOBER 2017 |
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2. | ACCOUNTING POLICIES - continued |
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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. |
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Assets obtained under hire purchase contracts are capitalised in the balance sheet at amounts equal |
to the fair value of the leased asset or, if lower the present value of the minimum lease payments. The |
minimum lease payments are apportioned between the finance charge and the outstanding liability to |
produce a constant periodic rate of charge. Assets held under hire purchase contracts are depreciated |
over their estimated useful lives or the lease term, whichever is the shorter. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Motor | Computer |
fittings | vehicles | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 November 2016 |
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Additions |
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Disposals |
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At 31 October 2017 |
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DEPRECIATION |
At 1 November 2016 |
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Charge for year |
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Eliminated on disposal |
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At 31 October 2017 |
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NET BOOK VALUE |
At 31 October 2017 |
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At 31 October 2016 |
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Included in the net book value of motor vehicles is £23,992 of assets held under hire purchase |
contracts. |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.10.17 | 31.10.16 |
£ | £ |
Trade debtors |
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Directors' loan accounts | 70,807 | - |
Taxation recoverable |
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Prepayments and accrued income |
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XENTAIR INTERNATIONAL LIMITED (REGISTERED NUMBER: 05608092) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 OCTOBER 2017 |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.10.17 | 31.10.16 |
£ | £ |
Hire purchase contracts |
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Trade creditors |
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Corporation tax |
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Taxation and social security |
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Directors' loan accounts | - | 193 |
Accruals and deferred income |
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7. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
31.10.17 | 31.10.16 |
£ | £ |
Hire purchase contracts |
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8. | PROVISIONS FOR LIABILITIES |
31.10.17 | 31.10.16 |
£ | £ |
Deferred tax | 5,163 | 5,247 |
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Deferred |
tax |
£ |
Balance at 1 November 2016 |
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Provided during year | ( |
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Balance at 31 October 2017 |
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9. | FIRST YEAR ADOPTION |
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The Company has transitioned to FRS 102 from previously being prepared under the historical cost |
convention and in accordance with the Financial Reporting Standards for Smaller Entities (effective |
from 1st January 2015) as at 1st November 2016. |
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Xentair International Limited has previously not accounted for unpaid holiday entitlement accrued by |
the employees at the balance sheet date, which is paid in the subsequent accounting period. |
Paragraph 28.3 of FRS 102 requires such accruals to be recognised but no accrual was required at |
the date of transition (1November 2015) due to no employees. |
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In the comparative year to 31 November 2016, less holiday had been taken than the entitlement |
accrued therefore there was a creditor accrued of £295. The result is that equity has decreased by a |
total of £295 as a result of the transition to FRS 102. |