TM Electronics (UK) Limited - Abbreviated accounts 16.3
TM Electronics (UK) Limited - Abbreviated accounts 16.3
| REGISTERED NUMBER: |
| ABBREVIATED ACCOUNTS |
| FOR THE YEAR ENDED 31 MARCH 2016 |
| FOR |
| TM ELECTRONICS (UK) LIMITED |
| TM ELECTRONICS (UK) LIMITED (REGISTERED NUMBER: 02275821) |
| CONTENTS OF THE ABBREVIATED ACCOUNTS |
| FOR THE YEAR ENDED 31 MARCH 2016 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 3 |
| TM ELECTRONICS (UK) LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 MARCH 2016 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| BUSINESS ADDRESS: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| TM ELECTRONICS (UK) LIMITED (REGISTERED NUMBER: 02275821) |
| ABBREVIATED BALANCE SHEET |
| 31 MARCH 2016 |
| 2016 | 2015 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 2 |
| CURRENT ASSETS |
| Stocks |
| Debtors |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 3 |
| Capital redemption reserve |
| Profit and loss account |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their 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 financial statements were approved by the Board of Directors on |
| TM ELECTRONICS (UK) LIMITED (REGISTERED NUMBER: 02275821) |
| NOTES TO THE ABBREVIATED ACCOUNTS |
| FOR THE YEAR ENDED 31 MARCH 2016 |
| 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 January 2015). |
| Turnover |
| Turnover represents net invoiced sales of goods, excluding value added tax. |
| Tangible fixed assets |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Stocks |
| Stock is valued at the lower of cost and net realisable value. |
| Research and development |
| Research expenditure is written off to the profit and loss account in the year in which it is incurred. |
| 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. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the |
| period of the lease. |
| Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and |
| depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are |
| included in creditors net of the finance charge allocated to future periods. The finance element of the rental |
| payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net |
| obligation outstanding in each period. |
| Lease payments under operating leases, where substantially all the risks and benefits remain with the lessor, are |
| charged as expenses in the period in which they are incurred. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
| scheme are charged to the profit and loss account in the period to which they relate. |
| TM ELECTRONICS (UK) LIMITED (REGISTERED NUMBER: 02275821) |
| NOTES TO THE ABBREVIATED ACCOUNTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2016 |
| 2. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 April 2015 |
| Additions |
| At 31 March 2016 |
| DEPRECIATION |
| At 1 April 2015 |
| Charge for year |
| At 31 March 2016 |
| NET BOOK VALUE |
| At 31 March 2016 |
| At 31 March 2015 |
| 3. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2016 | 2015 |
| value: | £ | £ |
| Ordinary | £1 |
| "A" Ordinary | £1 |
| 25,000 | 25,000 |
| The "A" ordinary shares have the following rights: |
| (a) Dividends |
| (1) The right to a cumulative preferential net cash participating dividend of 7% of the net profit before tax |
| adjusted to exclude any amortisation of goodwill and extraordinary items. |
| (2) The right to a cumulative preferential net cash additional dividend per share equal to: |
| -the amount per share by which any dividend paid on the ordinary shares exceeds the participating dividend per |
| "A" ordinary share. |
| (b) Capital |
| Priority upon liquidation or capital reduction up to £1 per share plus any arrears or accruals of dividends. |
| (c) Conversion |
| Conversion into ordinary shares at any time upon written notice by the holders of 75% of the "A" ordinary shares. |
| (d) Class protection |
| The special rights attached to any class of shares may only be varied with the written consent of the holders of |
| 75% of the "A" ordinary shares. Special rights are deemed to include substantive changes to the company. |