TGPC Limited - Period Ending 2014-04-30

Registration number: 07123782

TGPC Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 April 2014
 

Lambert Chapman LLP
Chartered Accountants
3 Warners Mill
Silks Way
Braintree
Essex
CM7 3GB

TGPC Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Registration number: 07123782

TGPC Limited
Balance Sheet as at 30 April 2014

		Note			2014 £			2013 £
Fixed assets
Intangible fixed assets					230,000			264,500
Tangible fixed assets		2			59,969			60,994
					289,969			325,494
Current assets
Stocks					15,676			19,134
Debtors					61,398			57,378
Cash at bank and in hand					3,543			1,072
					80,617			77,584
Creditors: Amounts falling due within one year					(255,927)			(336,814)
Net current liabilities					(175,310)			(259,230)
Total assets less current liabilities					114,659			66,264
Creditors: Amounts falling due after more than one year					(200,000)			(50,000)
Net (liabilities)/assets					(85,341)			16,264
Capital and reserves
Called up share capital		3			201,000			201,000
Profit and loss account					(286,341)			(184,736)
Shareholders' (deficit)/funds					(85,341)			16,264

For the year ending 30 April 2014 the company was entitled to exemption 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2008).

Approved by the Board on 27 January 2015 and signed on its behalf by:

JE Clark
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

TGPC Limited
Notes to the Abbreviated Accounts for the Year Ended 30 April 2014
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Going concern

The accounts have been prepared on a going concern basis.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Amortisation method and rate
Goodwill	10% Straight Line

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Leasehold Property	25% Reducing Balance
Plant and equipment	25% Reducing Balance and 25% straight line method
Fixtures and fittings	25% Reducing balance
Passionate equipment	33% Straight line basis

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Page 2

TGPC Limited
Notes to the Abbreviated Accounts for the Year Ended 30 April 2014
......... continued

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 May 2013		345,000			104,808			449,808
Additions		-			15,881			15,881
At 30 April 2014		345,000			120,689			465,689
Depreciation
At 1 May 2013		80,500			43,814			124,314
Charge for the year		34,500			16,906			51,406
At 30 April 2014		115,000			60,720			175,720
Net book value
At 30 April 2014		230,000			59,969			289,969
At 30 April 2013		264,500			60,994			325,494

3	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary of £1 each		201,000			201,000			201,000			201,000

4

Control

The company is controlled by no one individual.

Page 3