Telpark UK Ltd - Period Ending 2014-03-31

Registration number: 01880118

Telpark UK Ltd

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2014
 

Telpark UK Ltd
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Telpark UK Ltd
(Registration number: 01880118)
Abbreviated Balance Sheet at 31 March 2014

		Note			2014 £			2013 £
Fixed assets
Intangible fixed assets					2			2
Tangible fixed assets					73			111
					75			113
Current assets
Debtors					3,790			4,440
Cash at bank and in hand					190,511			198,004
					194,301			202,444
Creditors: Amounts falling due within one year					(49,080)			(40,049)
Net current assets					145,221			162,395
Total assets less current liabilities					145,296			162,508
Provisions for liabilities					-			(23)
Net assets					145,296			162,485
Capital and reserves
Called up share capital		3			33			33
Profit and loss account					145,263			162,452
Shareholders' funds					145,296			162,485

For the year ending 31 March 2014 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 director acknowledges his 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 director on 22 August 2014

.........................................
Mr Colin Johnson
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Telpark UK Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 March 2014
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Amortisation

Intangible fixed assets (including purchased goodwill and patents) are amortised at the rates calculated to write off the assets on a straight line basis over their estimated useful economic lives, not to exceed twenty years. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.

Asset class	Amortisation method and rate
Patents	10% straight line

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Office equipment	15% on cost
Computer equipment	33% of cost

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 2

Telpark UK Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 March 2014
......... continued

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 April 2013		2,651			9,343			11,994
At 31 March 2014		2,651			9,343			11,994
Depreciation
At 1 April 2013		2,649			9,232			11,881
Charge for the year		-			38			38
At 31 March 2014		2,649			9,270			11,919
Net book value
At 31 March 2014		2			73			75
At 31 March 2013		2			111			113

3	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary Shares of £1 each		33			33			33			33

Page 3