Toku Limited - Period Ending 2014-12-31

Registration number: 07014451

Toku Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 December 2014
 

Toku Limited
(Registration number: 07014451)
Abbreviated Balance Sheet at 31 December 2014

		Note			2014 £			2013 £
Fixed assets
Intangible fixed assets					10,000			12,000
Tangible fixed assets					12,099			10,759
					22,099			22,759
Current assets
Stocks					1,500			-
Debtors					3,588			6,993
Cash at bank and in hand					41,354			22,709
					46,442			29,702
Creditors: Amounts falling due within one year					(33,115)			(51,516)
Net current assets/(liabilities)					13,327			(21,814)
Total assets less current liabilities					35,426			945
Provisions for liabilities					(1,262)			(119)
Net assets					34,164			826
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					34,064			726
Shareholders' funds					34,164			826

For the year ending 31 December 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 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 4 September 2015 and signed on its behalf by:

The notes on pages 3 to 4 form an integral part of these financial statements.
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Toku Limited
(Registration number: 07014451)
Abbreviated Balance Sheet at 31 December 2014
......... continued

.........................................
Mr Lee Ahmad Baker
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
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Toku Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 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.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

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

Asset class	Amortisation method and rate
Goodwill	10% straight line basis

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
Plant and machinery	33% straight line basis
Fixtures and fittings	20% straight line basis

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

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.

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Toku Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2014
......... continued

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.

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 January 2014		20,000			37,112			57,112
Additions		-			10,470			10,470
At 31 December 2014		20,000			47,582			67,582
Depreciation
At 1 January 2014		8,000			26,353			34,353
Charge for the year		2,000			9,130			11,130
At 31 December 2014		10,000			35,483			45,483
Net book value
At 31 December 2014		10,000			12,099			22,099
At 31 December 2013		12,000			10,759			22,759

3	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100

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