Tints Direct Limited - Period Ending 2014-12-31

Registration number: 03841785

Tints Direct Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 December 2014
 

Sobell Rhodes LLP
Chartered Accountants
Monument House
215 Marsh Road
Pinner
Middlesex
HA5 5NE

Tints Direct Limited
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 4

Tints Direct Limited
(Registration number: 03841785)
Abbreviated Balance Sheet at 31 December 2014

		Note			2014 £			2013 £
Fixed assets
Tangible fixed assets		2			11,295			4,439
Current assets
Stocks					17,615			19,750
Debtors					14,066			16,763
Cash at bank and in hand					33,920			21,274
					65,601			57,787
Creditors: Amounts falling due within one year					(48,924)			(54,808)
Net current assets					16,677			2,979
Total assets less current liabilities					27,972			7,418
Provisions for liabilities					(1,994)			(355)
Net assets					25,978			7,063
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					25,878			6,963
Shareholders' funds					25,978			7,063

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 1

Tints Direct Limited
(Registration number: 03841785)
Abbreviated Balance Sheet at 31 December 2014
......... continued

For the year ending 31 December 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 .

Approved by the Board on 23 June 2015 and signed on its behalf by:

 K Fisher
 Director

 R W Persky
 Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Tints Direct Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 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).

Turnover

The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.

Fixed assets
All fixed assets are initially recorded at cost.

Depreciation

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Asset class	Depreciation method and rate
Fixtures, fittings and equipment	25% Reducing balance
Motor vehicles	25% Straight line

Stock

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, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Foreign currency

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 3

Tints Direct Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2014
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 January 2014		40,233			40,233
Additions		10,621			10,621
Disposals		(8,133)			(8,133)
At 31 December 2014		42,721			42,721
Depreciation
At 1 January 2014		35,794			35,794
Charge for the year		3,765			3,765
Eliminated on disposals		(8,133)			(8,133)
At 31 December 2014		31,426			31,426
Net book value
At 31 December 2014		11,295			11,295
At 31 December 2013		4,439			4,439

3	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
"A" Ordinadry shares of £1 each		50			50			50			50
"B" Ordinary shares of £1 each		25			25			25			25
"C" Ordinary shares of £1 each		25			25			25			25
		100			100			100			100

Page 4