Tradefinance Solutions & Outsourcing - Limited company - abbreviated - 11.9

REGISTERED NUMBER: 06409351 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 30 June 2015

for

Tradefinance Solutions & Outsourcing

Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

Director:

A M Toso

Registered office:

Orbis Suite

3rd Floor

35 Newhall Street

Birmingham

West Midlands

B3 3PU

Registered number:

06409351 (England and Wales)

Accountants:

Crowthers Chartered Accountants

19 High Street

Pershore

Worcestershire

WR10 1AA

FIXED ASSETS

Tangible assets

2

4,323

4,630

CURRENT ASSETS

Debtors

829,031

617,153

Cash at bank

1,899

14,900

830,930

632,053

CREDITORS

Amounts falling due within one year

775,312

569,874

NET CURRENT ASSETS

55,618

62,179

TOTAL ASSETS LESS CURRENT LIABILITIES

59,941

66,809

CREDITORS

Amounts falling due after more than one year

(58,654

)

(58,654

)

PROVISIONS FOR LIABILITIES

(865

)

(926

)

NET ASSETS

422

7,229

CAPITAL AND RESERVES

Called up share capital

3

1

1

Profit and loss account

421

7,228

SHAREHOLDERS' FUNDS

422

7,229

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2015 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 29 March 2016 and were signed by:

A M Toso - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements 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 the value of goods sold during the period, net of VAT and trade discounts. Turnover is

recognised when goods are physically delivered to the customer.

Uninvoiced deliveries at the year end are included in accrued income. Invoiced deliveries are included in

debtors. Where customers pay in advance for goods, the amount is recorded as deferred income until the goods

have been delivered.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

33% on cost

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date. Timing differences are differences between the taxable profits and the results as stated in the

financial statements that arise from the inclusion of gains and losses in tax assessments in periods different from

those in which they are recognised in the financial statements.

A net deferred tax asset is regarded as recoverable and therefore recognised only when it can be regarded as

more likely than not that there will be suitable taxable profits from which the future reversal of underlying timing

differences can be deducted.

Deferred tax is not recognised when fixed assets are revalued unless by the balance sheet date there is a binding

agreement to sell the revalued assets and the assets have been revalued to selling price. Neither is deferred tax

recognised when fixed assets are sold and it is more likely than not that the taxable gain will be rolled over, being

charged to tax only if and when replacement assets are sold.

Deferred tax is measured at the average rates that are expected to apply in the periods in which the timing

differences are expected to reverse, based on tax rates and laws that have been enacted by the balance sheet date.

Deferred tax is measured on a non-discounted basis.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet 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.

2.	TANGIBLE FIXED ASSETS

Total

£

Cost

At 1 July 2014

10,392

Additions

1,113

At 30 June 2015

11,505

Depreciation

At 1 July 2014

5,762

Charge for year

1,420

At 30 June 2015

7,182

Net book value

At 30 June 2015

4,323

At 30 June 2014

4,630

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

1

Ordinary

£1

1

1

4.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Included within creditors due within one year is an amount of £2,196 (2014: £4,155) owed to A M Toso the

sole director and shareholder. There are no fixed repayment terms and no interest is charged.

Included within creditors due after one year is an amount of £58,654 ( 2014: £58,654) owed to A M Toso the

sole director and shareholder.

Dividends totalling £10,000 were paid to the director in the year.