Tradefinance Solutions & Outsourcing - Accounts to registrar - small 16.3
Tradefinance Solutions & Outsourcing - Accounts to registrar - small 16.3
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 June 2016 |
for |
Tradefinance Solutions & Outsourcing |
Limited |
Tradefinance Solutions & Outsourcing |
Limited (Registered number: 06409351) |
Contents of the Financial Statements |
for the Year Ended 30 June 2016 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Tradefinance Solutions & Outsourcing |
Limited |
Company Information |
for the Year Ended 30 June 2016 |
Director: |
Registered office: |
Registered number: |
Accountants: |
Tradefinance Solutions & Outsourcing |
Limited (Registered number: 06409351) |
Balance Sheet |
30 June 2016 |
2016 | 2015 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 2 |
CURRENT ASSETS |
Debtors | 3 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 4 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
5 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 7 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Profit and loss account | 9 |
SHAREHOLDERS' FUNDS |
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. |
Tradefinance Solutions & Outsourcing |
Limited (Registered number: 06409351) |
Balance Sheet - continued |
30 June 2016 |
The financial statements were approved by the director on |
Tradefinance Solutions & Outsourcing |
Limited (Registered number: 06409351) |
Notes to the Financial Statements |
for the Year Ended 30 June 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 the value of goods sold during the period, net of VAT and trade discounts. Turnover is |
recognised when goods are physically delivered to the customer. |
Uninvoiced deliveries at the year end are included in accrued income. Invoiced deliveries are included in |
debtors. Where customers pay in advance for goods, the amount is recorded as deferred income until the goods |
have been delivered. |
Tangible fixed assets |
Fixtures and fittings | - |
Computer equipment | - |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. Timing differences are differences between the taxable profits and the results as stated in the |
financial statements that arise from the inclusion of gains and losses in tax assessments in periods different from |
those in which they are recognised in the financial statements. |
A net deferred tax asset is regarded as recoverable and therefore recognised only when it can be regarded as |
more likely than not that there will be suitable taxable profits from which the future reversal of underlying timing |
differences can be deducted. |
Deferred tax is not recognised when fixed assets are revalued unless by the balance sheet date there is a binding |
agreement to sell the revalued assets and the assets have been revalued to selling price. Neither is deferred tax |
recognised when fixed assets are sold and it is more likely than not that the taxable gain will be rolled over, |
being charged to tax only if and when replacement assets are sold. |
Deferred tax is measured at the average rates that are expected to apply in the periods in which the timing |
differences are expected to reverse, based on tax rates and laws that have been enacted by the balance sheet date. |
Deferred tax is measured on a non-discounted basis. |
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. |
Tradefinance Solutions & Outsourcing |
Limited (Registered number: 06409351) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2016 |
2. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
Cost |
At 1 July 2015 |
Additions |
At 30 June 2016 |
Depreciation |
At 1 July 2015 |
Charge for year |
At 30 June 2016 |
Net book value |
At 30 June 2016 |
At 30 June 2015 |
3. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2016 | 2015 |
£ | £ |
Trade debtors |
Other debtors |
4. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2016 | 2015 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
5. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2016 | 2015 |
£ | £ |
Other creditors |
Tradefinance Solutions & Outsourcing |
Limited (Registered number: 06409351) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2016 |
6. | LOANS |
An analysis of the maturity of loans is given below: |
2016 | 2015 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank overdrafts |
7. | PROVISIONS FOR LIABILITIES |
2016 | 2015 |
£ | £ |
Deferred tax |
Deferred |
tax |
£ |
Balance at 1 July 2015 |
Charge to Profit and Loss Account during year |
Balance at 30 June 2016 |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2016 | 2015 |
value: | £ | £ |
Ordinary | £1 |
9. | RESERVES |
Profit |
and loss |
account |
£ |
At 1 July 2015 |
Profit for the year |
Dividends | ( |
) |
At 30 June 2016 |
10. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
Included within creditors due within one year is an amount of £230 (2015: £2,196) owed to A M Toso the sole |
director and shareholder. There are no fixed repayment terms and no interest is charged. |
Included within creditors due after one year is an amount of £58,654 (2015: £58,654) owed to A M Toso the |
sole director and shareholder. |
Dividends totalling £20,000 (2015: £10,000) were paid to the director in the year. |
Tradefinance Solutions & Outsourcing |
Limited (Registered number: 06409351) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2016 |
11. | ULTIMATE CONTROLLING PARTY |
During the period, the company was under the control of A M Toso the managing director of the company. |