Traplet Distribution (USA) Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 02057546

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31ST MARCH 2015

FOR

TRAPLET DISTRIBUTION (USA) LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

Anthony Henry Dubarrie Stephenson

Thomas Andrew Stephenson

SECRETARY:

Thomas Andrew Stephenson

REGISTERED OFFICE:

Willow End Park

Blackmore Park Road

Welland

Malvern

Worcestershire

WR13 6NN

REGISTERED NUMBER:

02057546

ACCOUNTANTS:

John Yelland and Company

Chartered Accountants

22 Sansome Walk

Worcester

Worcestershire

WR1 1LS

FIXED ASSETS

Tangible assets

2

-

662

CURRENT ASSETS

Stocks

6,448

7,366

Debtors

13,204

106

Cash at bank

19,071

18,907

38,723

26,379

CREDITORS

Amounts falling due within one year

46,131

653,253

NET CURRENT LIABILITIES

(7,408

)

(626,874

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(7,408

)

(626,212

)

CAPITAL AND RESERVES

Called up share capital

3

100

100

Profit and loss account

(7,508

)

(626,312

)

SHAREHOLDERS' FUNDS

(7,408

)

(626,212

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2015 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 27th July 2015 and were signed on its behalf by:

Anthony Henry Dubarrie Stephenson - Director

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).

Exemption from preparing a cash flow statement

Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a

small company.

Turnover

Turnover represents net invoiced sales of goods, 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.

Fixtures and fittings

-

33% 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at

the date of transaction. Exchange differences are taken into account in arriving at the operating result.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st April 2014

and 31st March 2015

1,986

DEPRECIATION

At 1st April 2014

1,324

Charge for year

662

At 31st March 2015

1,986

NET BOOK VALUE

At 31st March 2015

-

At 31st March 2014

662

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

100

Ordinary

£1

100

100

4.	GOING CONCERN BASIS

The financial statements have been drawn up on a going concern basis which assumes that the company will

continue in operational existence for the foreseeable future.

The basis is considered appropriate by the directors because the company is trading within its agreed bank

facility and is able to meet its debts as and when they fall due. Creditors include £10,764 (2014 - £636,894)

owing to Traplet Publications Limited, a company controlled by A.H. Stephenson Esq. Traplet Publications

Limited have agreed not to demand payment of the debt if to do so would jeopardise the future trading of the

company.

Should the company be unable to continue trading an adjustment would have to be made to adjust the value of

the assets to their recoverable amount and to provide for any further liabilities which might arise.