Tic Trading Limited

Tic Trading Limited

TIC TRADING LIMITED - Company Information

Print Friendly Version

1 August 2016 false No description of principal activity Taxfiler 2018.3.Web 06344975business:PrivateLimitedCompanyLtd2016-08-012017-07-31 063449752016-07-31 063449752016-08-012017-07-31 06344975business:AuditExemptWithAccountantsReport2016-08-012017-07-31 06344975business:FullAccounts2016-08-012017-07-31 063449752017-07-31 06344975business:Director12016-08-012017-07-31 06344975business:CompanySecretary12016-08-012017-07-31 06344975business:RegisteredOffice2016-08-012017-07-31 063449752016-07-31 06344975core:WithinOneYear2017-07-31 06344975core:WithinOneYear2016-07-31 06344975core:AfterOneYear2017-07-31 06344975core:AfterOneYear2016-07-31 06344975core:ShareCapital2017-07-31 06344975core:ShareCapital2016-07-31 06344975core:SharePremium2017-07-31 06344975core:SharePremium2016-07-31 06344975core:RevaluationReserve2017-07-31 06344975core:RevaluationReserve2016-07-31 06344975core:RetainedEarningsAccumulatedLosses2017-07-31 06344975core:RetainedEarningsAccumulatedLosses2016-07-31 06344975business:SmallEntities2016-08-012017-07-31 06344975countries:EnglandWales2016-08-012017-07-31 06344975core:LandBuildings2016-08-012017-07-31 06344975core:PlantMachinery2016-08-012017-07-31 06344975core:MotorVehicles2016-08-012017-07-31 06344975core:FurnitureFittings2016-08-012017-07-31 06344975core:ComputerEquipment2016-08-012017-07-31 06344975core:OtherPropertyPlantEquipment2016-08-012017-07-31 06344975core:IntangibleAssetsOtherThanGoodwill2016-07-31 06344975core:IntangibleAssetsOtherThanGoodwill2016-08-012017-07-31 06344975core:IntangibleAssetsOtherThanGoodwill2017-07-31 06344975core:LandBuildings2016-07-31 06344975core:PlantMachinery2016-07-31 06344975core:FurnitureFittings2016-07-31 06344975core:ComputerEquipment2016-07-31 06344975core:LandBuildings2017-07-31 06344975core:PlantMachinery2017-07-31 06344975core:FurnitureFittings2017-07-31 06344975core:ComputerEquipment2017-07-31 06344975core:AdditionsToInvestments2017-07-31 06344975core:RevaluationsIncreaseDecreaseInInvestments2017-07-31 063449752015-08-012016-07-31 iso4217:GBP xbrli:pure
Company Registration No. 06344975 (England and Wales)
Tic Trading Limited Unaudited accounts for the year ended 31 July 2017
Tic Trading Limited Unaudited accounts Contents
Page
- 2 -
Tic Trading Limited Company Information for the year ended 31 July 2017
Director
Daniel Richmond
Secretary
Margaret Jones
Company Number
06344975 (England and Wales)
Registered Office
54 Bondgate Darlington COUNTY DURHAM DL3 7EN GB
Accountants
Hillman & Co Technology Court Bradbury Road NEWTON AYCLIFFE Co. Durham DL5 6DA
- 3 -
Chartered Certified Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Tic Trading Limited for the year ended 31 July 2017
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Tic Trading Limited for the year ended 31 July 2017 as set out on pages 5 - 8 from the Company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html
Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf.
Hillman & Co Chartered Certified Accountants Technology Court Bradbury Road NEWTON AYCLIFFE Co. Durham DL5 6DA 9 January 2018
- 4 -
Tic Trading Limited Statement of financial position as at 31 July 2017
2017 
2016 
Notes
£ 
£ 
Fixed assets
Intangible assets
4
7,817 
10,150 
Tangible assets
5
151,702 
150,332 
Investments
6
2,350 
- 
161,869 
160,482 
Current assets
Inventories
7
99,886 
29,854 
Debtors
8
500 
57,922 
Cash at bank and in hand
34,754 
37,978 
135,140 
125,754 
Creditors: amounts falling due within one year
9
(158,157)
(248,733)
Net current liabilities
(23,017)
(122,979)
Total assets less current liabilities
138,852 
37,503 
Creditors: amounts falling due after more than one year
10
(88,775)
(109,042)
Net assets/(liabilities)
50,077 
(71,539)
Capital and reserves
Called up share capital
100 
100 
Share premium
34,970 
34,970 
Revaluation reserve
41,362 
41,362 
Profit and loss account
(26,355)
(147,971)
Shareholders' funds
50,077 
(71,539)
For the year ending 31 July 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 10 January 2018.
Daniel Richmond Director Company Registration No. 06344975
- 5 -
Tic Trading Limited Notes to the Accounts for the year ended 31 July 2017
1
Statutory information
Tic Trading Limited is a private company, limited by shares, registered in England and Wales, registration number 06344975. The registered office is 54 Bondgate, Darlington, COUNTY DURHAM, DL3 7EN, GB.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
These financial statements for the year ended 31 July 2017 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 August 2015. The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously. The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
0%
Plant & machinery
20% Straight Line
Motor vehicles
20% Straight Line
Fixtures & fittings
20% Straight Line
Computer equipment
33% Straight Line
Other tangible fixed assets
20% Straight Line
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
- 6 -
Tic Trading Limited Notes to the Accounts for the year ended 31 July 2017
4
Intangible fixed assets
Other 
£ 
Cost
At 1 August 2016
47,986 
Additions
875 
At 31 July 2017
48,861 
Amortisation
At 1 August 2016
37,836 
Charge for the year
3,208 
At 31 July 2017
41,044 
Net book value
At 31 July 2017
7,817 
At 31 July 2016
10,150 
5
Tangible fixed assets
Land & buildings 
Plant & machinery 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 August 2016
146,432 
2,181 
3,868 
4,692 
157,173 
Additions
- 
175 
- 
2,632 
2,807 
At 31 July 2017
146,432 
2,356 
3,868 
7,324 
159,980 
Depreciation
At 1 August 2016
- 
631 
1,944 
4,266 
6,841 
Charge for the year
- 
415 
605 
417 
1,437 
At 31 July 2017
- 
1,046 
2,549 
4,683 
8,278 
Net book value
At 31 July 2017
146,432 
1,310 
1,319 
2,641 
151,702 
At 31 July 2016
146,432 
1,550 
1,924 
426 
150,332 
6
Investments
Other investments 
£ 
Valuation at 1 August 2016
- 
Additions
2,627 
Fair value adjustments
(277)
Valuation at 31 July 2017
2,350 
7
Inventories
2017 
2016 
£ 
£ 
Finished goods
99,886 
29,854 
99,886 
29,854 
- 7 -
Tic Trading Limited Notes to the Accounts for the year ended 31 July 2017
8
Debtors
2017 
2016 
£ 
£ 
Other debtors
500 
57,922 
9
Creditors: amounts falling due within one year
2017 
2016 
£ 
£ 
Bank loans and overdrafts
29,080 
103,450 
Trade creditors
116,747 
56,336 
Taxes and social security
110,961 
71,201 
Other creditors
7,428 
17,069 
Loans from directors
(106,059)
677 
158,157 
248,733 
10
Creditors: amounts falling due after more than one year
2017 
2016 
£ 
£ 
Bank loans
88,775 
109,042 
11
Average number of employees
During the year the average number of employees was 6 (2016: 0).
- 8 -