TORERO,_ABECASSIS_EMPIS_A - Accounts


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
1
Notes to the abbreviated accounts
2 - 3
TORERO, ABECASSIS EMPIS AND COWLARD LTD
T/A TAEC
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2016
31 March 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
1,177
-
Current assets
Debtors
10,149
-
Investments
8,486
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
3
3
3
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 -
1
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 -
2
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
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
3Ordinary shares of £1 each
3
3

 

 

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