TORERO,_ABECASSIS_EMPIS_A - Accounts

TORERO, ABECASSIS EMPIS AND COWLARD LTD - Company Information

Print Friendly Version

Company Registration No. SC412852 (Scotland)

TORERO, ABECASSIS EMPIS AND COWLARD LTD

T/A TAEC

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2016

TORERO, ABECASSIS EMPIS AND COWLARD LTD

T/A TAEC

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

TORERO, ABECASSIS EMPIS AND COWLARD LTD

T/A TAEC

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

1,177

Current assets

Debtors

10,149

Investments

8,486

Cash at bank and in hand

35,388

80,381

54,023

88,867

Creditors: amounts falling due within one year

(11,118)

(16,805)

Net current assets

42,905

72,062

Total assets less current liabilities

44,082

72,062

Provisions for liabilities

(212)

43,870

72,062

Capital and reserves

Called up share capital

Profit and loss account

43,867

72,059

Shareholders' funds

43,870

72,062

For the financial year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 14 December 2016

Dr C A Empis

Director

Company Registration No. SC412852

TORERO, ABECASSIS EMPIS AND COWLARD LTD

T/A TAEC

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

The company made losses during the period but at the period end had a positive balance sheet. The directors consider that the losses will be reversed in future years and the company will continue to trade for foreseeable future and on this basis the accounts have been prepared as a going concern.

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Computer equipment

33% reducing balance

1.5

Investments

Current asset investments are stated at the lower of cost and net realisable value.

1.6

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

TORERO, ABECASSIS EMPIS AND COWLARD LTD

T/A TAEC

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2016

- 3 -

Fixed assets

Tangible assets

Cost

At 1 April 2015

Additions

1,766

At 31 March 2016

1,766

Depreciation

At 1 April 2015

Charge for the year

589

At 31 March 2016

589

Net book value

At 31 March 2016

1,177

Share capital

2016

2015

Allotted, called up and fully paid

3 Ordinary shares of £1 each