Textiles Fibres Ltd - Abbreviated accounts 16.1

REGISTERED NUMBER: 04456161 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 29 June 2016

for

Textiles Fibres Ltd

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

D R Minnett

SECRETARY:

Cambridge Heath Secretaries Ltd

REGISTERED OFFICE:

50 Jermyn Street

London

SW1Y 6LX

REGISTERED NUMBER:

04456161 (England and Wales)

ACCOUNTANTS:

Lextray (UK) Ltd

1st Floor, Victory House

99-101 Regent Street

London

W1B 4EZ

CURRENT ASSETS

Debtors

2,383,209

7,672,857

Cash at bank

6,979,918

415,076

9,363,127

8,087,933

CREDITORS

Amounts falling due within one year

5,040,191

3,838,638

NET CURRENT ASSETS

4,322,936

4,249,295

TOTAL ASSETS LESS CURRENT
LIABILITIES

4,322,936

4,249,295

CREDITORS

Amounts falling due after more than one
year

4,099,000

NET ASSETS

223,936

150,295

CAPITAL AND RESERVES

Called up share capital

2

16,000

Profit and loss account

207,936

134,295

SHAREHOLDERS' FUNDS

223,936

150,295

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 June 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 June 2016 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 12 August 2016 and were signed by:

D R Minnett - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

Partner's profit share

Under a partnership agreement dated 01 July 2002 Fineforce Limited of Wickhams Cay, Road Town, tortola,

British Virgin Islands, is entitled to receive a profit share amounting to 95% of the net profit on all transactions

administered on behalf of the partnership by Textiles Connections Limited.

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 January 2015).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Deferred tax

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

sheet date.

Foreign currencies

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

sheet date. Transactions in foreign currencies are translated into Euro at the rate of exchange ruling at the date of

transaction. Exchange differences are taken into account in arriving at the operating result.

2.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

29.6.16

29.6.15

value:

€

10,000

Ordinary

£1

16,000

3.	ULTIMATE PARENT COMPANY

The ultimate parent companies are Lloyd (Andrews) Nominees, a company incorporated in the British Virgin

Islands and Santosh Assets Corp., a company incorporated in the Birtish Virgin Islands