Abbreviated Company Accounts - TERRA EQUIPMENT LIMITED

TERRA EQUIPMENT LIMITED - Company Information

Registered Number NI066226

TERRA EQUIPMENT LIMITED

Abbreviated Accounts

28 February 2015

TERRA EQUIPMENT LIMITED Registered Number NI066226

Abbreviated Balance Sheet as at 28 February 2015

	Notes	2015	2014
		£	£
Fixed assets
Tangible assets	2	1,058,398	1,082,442
Investments	3	139	139
		1,058,537	1,082,581
Current assets
Cash at bank and in hand		11,778	9,403
		11,778	9,403
Creditors: amounts falling due within one year		(231,121)	(215,688)
Net current assets (liabilities)		(219,343)	(206,285)
Total assets less current liabilities		839,194	876,296
Creditors: amounts falling due after more than one year		(517,230)	(572,063)
Total net assets (liabilities)		321,964	304,233
Capital and reserves
Called up share capital		100	100
Share premium account		79,985	79,985
Profit and loss account		241,879	224,148
Shareholders' funds		321,964	304,233

For the year ending 28 February 2015 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 directors acknowledge their 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 Board on 24 June 2015

And signed on their behalf by:
Mr. Barry McAllister, Director

TERRA EQUIPMENT LIMITED Registered Number NI066226

Notes to the Abbreviated Accounts for the period ended 28 February 2015

1Accounting Policies

Basis of measurement and preparation of accounts
The financial statements have been prepared under the historical cost convention and in accordance with the Companies Act 2006 and the Financial Reporting Standard for Small Entities (effective April 2008).

Turnover policy
Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.

Tangible assets depreciation policy
Land and Buildings - 2% Straight Line

2Tangible fixed assets

	£
Cost
At 1 March 2014	1,202,211
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 28 February 2015	1,202,211
Depreciation
At 1 March 2014	119,769
Charge for the year	24,044
On disposals	-
At 28 February 2015	143,813
Net book values
At 28 February 2015	1,058,398
At 28 February 2014	1,082,442

3Fixed assets Investments
Investments held as fixed assets are stated at cost less provision for any permanent diminution in value. Income from other investments together with any related tax credit is recognised in the profit and loss account in the year in which it is receivable.