Turnkey Business Software Limited - Abbreviated accounts 16.3
Turnkey Business Software Limited - Abbreviated accounts 16.3
REGISTERED NUMBER: |
Abbreviated Accounts |
for the Year Ended 30 June 2016 |
for |
Turnkey Business Software Limited |
Turnkey Business Software Limited (Registered number: SC196060) |
Contents of the Abbreviated Accounts |
for the Year Ended 30 June 2016 |
Page |
Company Information | 1 |
Abbreviated Balance Sheet | 2 |
Notes to the Abbreviated Accounts | 3 |
Turnkey Business Software Limited |
Company Information |
for the Year Ended 30 June 2016 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Armstrongs Accounting Services Limited |
Turnkey Business Software Limited (Registered number: SC196060) |
Abbreviated Balance Sheet |
30 June 2016 |
30.6.16 | 30.6.15 |
Notes | £ | £ |
CURRENT ASSETS |
Stocks |
Debtors |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 2 |
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 by: |
Turnkey Business Software Limited (Registered number: SC196060) |
Notes to the Abbreviated Accounts |
for the Year Ended 30 June 2016 |
1. | ACCOUNTING POLICIES |
Accounting convention |
The financial statements are prepared under the historical cost convention and in accordance with the Financial |
Reporting Standard for Smaller Entities (effective April 2008). These have been applied consistently in the year |
and the preceding year. |
The directors have considered the trading outlook for the company, combined with the levels of current and |
projected cash reserves. They have a reasonable expectation that the company has adequate financial resources to |
continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going |
concern basis in the financial statements. |
Exemption from preparing a cash flow statement |
Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a |
small company. |
Turnover |
Turnover represents amounts derived from the provision of goods and services which fall within the company's |
ordinary activities after deduction of trade discounts and value added tax. The company enters into fixed term |
maintenance contracts. Turnover on these contracts is deferred and recognised over the life of the contract. |
Stocks |
Stocks are stated at the lower of cost and net realisable value. Cost includes materials, direct labour and |
production overheads appropriate to the relevant stage of production. Net realisable value is based on estimated |
selling price less all further costs to completion and all relevant marketing, selling and distribution costs. |
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. Differences between |
contributions payable in the year and contributions actually paid are shown as either accruals or prepayments on |
the balance sheet. |
Taxation |
Current tax, including UK corporation tax, is provided at amounts expected to be paid (or recovered) using the |
tax rates and laws that have been enacted or substantially enacted at the balance sheet date. |
2. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.6.16 | 30.6.15 |
value: | £ | £ |
Ordinary | £1 |
3. | RELATED PARTY DISCLOSURES |
Included in debtors is an i amount outstanding at 30 June 2016 is £783,850 (2015 £731,981). |
£180,000) were received from |
4. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is |