Torbulk Ltd - Limited company - abbreviated - 11.6

Torbulk Ltd - Limited company - abbreviated - 11.6

TORBULK LIMITED - Company Information

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REGISTERED NUMBER: 02589507 (England and Wales)














ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2014

FOR

TORBULK LTD

TORBULK LTD (REGISTERED NUMBER: 02589507)






CONTENTS OF THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2014




Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3

TORBULK LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2014







DIRECTORS: Mr J A Williamson
Mr J Parker





REGISTERED OFFICE: Harwood House
Park Road
Melton Mowbray
Leicestershire
LE13 1TX





REGISTERED NUMBER: 02589507 (England and Wales)





ACCOUNTANTS: Osbornes Tax And Advisory Limited
Harwood House
Park Road
Melton Mowbray
Leicestershire
LE13 1TX
Page 1
TORBULK LTD (REGISTERED NUMBER: 02589507)

ABBREVIATED BALANCE SHEET
31 DECEMBER 2014

2014 2013
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 2 17,975 23,976

CURRENT ASSETS
Stocks 36,247 35,991
Debtors 534,825 462,602
Cash at bank and in hand 13,569 58,255
584,641 556,848
CREDITORS
Amounts falling due within one year 512,181 494,733
NET CURRENT ASSETS 72,460 62,115
TOTAL ASSETS LESS CURRENT
LIABILITIES
90,435
86,091

CAPITAL AND RESERVES
Called up share capital 3 300 300
Profit and loss account 90,135 85,791
SHAREHOLDERS' FUNDS 90,435 86,091

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2014 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.


The financial statements were approved by the Board of Directors on 30 March 2015 and were signed on its behalf by:





Mr J A Williamson - Director


The notes form part of these abbreviated accounts

Page 2
TORBULK LTD (REGISTERED NUMBER: 02589507)

NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2014

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 April 2008).

Turnover
Turnover represents management fees and margins on disbursed expenses recharged to shipping companies,
excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Office equipment - 33% on cost
Motor vehicles - 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and
slow moving items.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the
balance sheet date.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those
held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance
leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The
capital element of the future payments is treated as a liability.

2. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 January 2014
and 31 December 2014 72,444
DEPRECIATION
At 1 January 2014 48,468
Charge for year 6,001
At 31 December 2014 54,469
NET BOOK VALUE
At 31 December 2014 17,975
At 31 December 2013 23,976

3. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2014 2013
value: £    £   
300 Ordinary £1 300 300

Page 3