T2M Nationwide Limited - Limited company - abbreviated - 11.6
T2M Nationwide Limited - Limited company - abbreviated - 11.6
| REGISTERED NUMBER: |
| ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 MAY 2014 |
| FOR |
| T2M NATIONWIDE LIMITED |
| T2M NATIONWIDE LIMITED (REGISTERED NUMBER: 02699868) |
| CONTENTS OF THE ABBREVIATED ACCOUNTS |
| for the Year Ended 31 May 2014 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 4 |
| T2M NATIONWIDE LIMITED |
| COMPANY INFORMATION |
| for the Year Ended 31 May 2014 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| T2M NATIONWIDE LIMITED (REGISTERED NUMBER: 02699868) |
| ABBREVIATED BALANCE SHEET |
| 31 May 2014 |
| 31.5.14 | 31.5.13 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 2 |
| Tangible assets | 3 |
| Investments | 4 |
| Investment property | 5 |
| CURRENT ASSETS |
| Debtors |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
6 |
( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 7 |
| Revaluation reserve |
| Profit and loss account |
| SHAREHOLDERS' FUNDS |
| The director acknowledges his 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. |
| T2M NATIONWIDE LIMITED (REGISTERED NUMBER: 02699868) |
| ABBREVIATED BALANCE SHEET - continued |
| 31 May 2014 |
| The financial statements were approved by the director on |
| T2M NATIONWIDE LIMITED (REGISTERED NUMBER: 02699868) |
| NOTES TO THE ABBREVIATED ACCOUNTS |
| for the Year Ended 31 May 2014 |
| 1. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements have been prepared on a going concern basis, the applicability of which is dependent |
| upon the continued support of the company's creditors and financiers. At the balance sheet date the company's |
| current liabilities exceed its current assets by £628,901 (2013: £455,505). In the opinion of the director the |
| company has the support of its creditors (the majority of which is due to the subsidiary company) and financiers |
| for the foreseeable future, and it is therefore considered appropriate to adopt the going concern policy. |
| Accounting convention |
| The financial statements have been prepared under the historical cost convention as modified by the revaluation |
| of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective April |
| 2008). |
| Goodwill |
| Goodwill, being the amount paid in connection with the acquisition of a business in 1993, has been fully written |
| off over its estimated useful life of eight years. |
| Tangible fixed assets |
| Plant and machinery etc | - |
| Investment property |
| In accordance with the FRSSE, investment properties are revalued annually and the aggregate surplus or deficit |
| is transfered to a revaluation reserve, and no depreciation is provided in respect of investment properties. The |
| requirement of the Companies Act 2006 is to depreciate all properties, but that requirement conflicts with the |
| generally accepted accounting principles set out in the FRSSE. The director consider that to depreciate such |
| properties would not give a true and fair view and have therefore been adopted the above approach. If this |
| departure from the Act had not been made, the profit for the year would have been reduced by depreciation. |
| 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. |
| Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the |
| period of the lease. |
| Investments |
| Investments in subsidiaries are carried at cost less impairment. The investments are reviewed for impairments on |
| an annual basis. |
| Turnover |
| Turnover represents invoiced commission fees and rents receivable, and recognised on the accrual basis. |
| T2M NATIONWIDE LIMITED (REGISTERED NUMBER: 02699868) |
| NOTES TO THE ABBREVIATED ACCOUNTS - continued |
| for the Year Ended 31 May 2014 |
| 2. | INTANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 June 2013 |
| and 31 May 2014 |
| AMORTISATION |
| At 1 June 2013 |
| and 31 May 2014 |
| NET BOOK VALUE |
| At 31 May 2014 |
| At 31 May 2013 |
| 3. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 June 2013 |
| and 31 May 2014 |
| DEPRECIATION |
| At 1 June 2013 |
| Charge for year |
| At 31 May 2014 |
| NET BOOK VALUE |
| At 31 May 2014 |
| At 31 May 2013 |
| 4. | FIXED ASSET INVESTMENTS |
| Investments (neither listed nor unlisted) were as follows: |
| 31.5.14 | 31.5.13 |
| £ | £ |
| Cost b/f |
| The company's investments at the Balance Sheet date in the share capital of companies include the following: |
| Nature of business: |
| % |
| Class of shares: | holding |
| Ordinary £1 voting shares |
| £ | £ |
| Aggregate capital and reserves |
| Profit for the year |
| T2M NATIONWIDE LIMITED (REGISTERED NUMBER: 02699868) |
| NOTES TO THE ABBREVIATED ACCOUNTS - continued |
| for the Year Ended 31 May 2014 |
| 5. | INVESTMENT PROPERTY |
| Total |
| £ |
| COST OR VALUATION |
| At 1 June 2013 | 1,885,000 |
| Additions | 176,755 |
| Disposals | (190,000 | ) |
| At 31 May 2014 | 1,871,755 |
| NET BOOK VALUE |
| At 31 May 2014 | 1,871,755 |
| At 31 May 2013 | 1,885,000 |
| 6. | CREDITORS |
| Creditors include an amount of £ |
| They also include the following debts falling due in more than five years: |
| 31.5.14 | 31.5.13 |
| £ | £ |
| Repayable by instalments |
| 7. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31.5.14 | 31.5.13 |
| value: | £ | £ |
| Ordinary | £1 |
| 8. | CONTROLLING PARTY |
| The company is under the control of its director and shareholder, B.H. Burkitt. |
| 9. | SUBSIDIARIES NOT CONSOLIDATED |
| These financial statements present information about the company as an individual undertaking and not about its |
| group. Group accounts are not required as the company has taken advantage of small company exemptions under |
| the provisions of section 399(1) of the Companies Act 2006. |