Turnkey Business Software Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: SC196060 (Scotland)

Financial Statements

for the Year Ended 30 June 2017

for

Turnkey Business Software Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

A I Armstrong

A G Wood

SECRETARY:

Dr B I Wood

REGISTERED OFFICE:

Thornton Lodge

East Kilbride Road

Clarkston

Glasgow

G76 9HW

REGISTERED NUMBER:

SC196060 (Scotland)

ACCOUNTANTS:

Adam I Armstrong LL.B., C.A.

Armstrongs Chartered Accountants

Victoria Chambers

142 West Nile Street

Glasgow

G1 2RQ

CURRENT ASSETS

Stocks

8,506

8,175

Debtors

4

1,150,631

1,017,813

1,159,137

1,025,988

CREDITORS

Amounts falling due within one year

5

1,149,135

1,025,542

NET CURRENT ASSETS

10,002

446

TOTAL ASSETS LESS CURRENT LIABILITIES

10,002

446

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

10,000

444

SHAREHOLDERS' FUNDS

10,002

446

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2017 in accordance with Section 476 of the Companies Act 2006.

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 have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 4 September 2017 and were signed on its behalf by:

A G Wood - Director

1.	STATUTORY INFORMATION

Turnkey Business Software Limited is a private company, limited by shares , registered in Scotland. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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 profit or loss in the period to which they relate.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2016 - 13 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.17

30.6.16

£

£

Trade debtors

287,188

233,963

Amounts owed by group undertakings

863,443

783,850

1,150,631

1,017,813

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.17

30.6.16

£

£

Trade creditors

198,116

169,215

Taxation and social security

118,581

142,721

Other creditors

832,438

713,606

1,149,135

1,025,542

6.	RELATED PARTY DISCLOSURES

7.	ULTIMATE CONTROLLING PARTY

8.	FIRST YEAR ADOPTION

The company has adopted FRS 102 for the year ended 30 June 2017. The reconciliation of equity at 1st July

2015, date of transition to FRS 102, and profit have been duly reported as required under FRS 102.