Tecpro Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 01136699 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 October 2014

for

Tecpro Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

A Millar

J Lacey

REGISTERED OFFICE:

30 Gay Street

Bath

BA1 2PA

REGISTERED NUMBER:

01136699 (England and Wales)

ACCOUNTANTS:

Moore Stephens

Chartered Accountants

30 Gay Street

Bath

BA1 2PA

FIXED ASSETS

Tangible assets

2

-

930

Investments

3

75,025

75,025

Investment property

4

1,060,000

2,460,000

1,135,025

2,535,955

CURRENT ASSETS

Debtors

28,409

12,182

Cash at bank

364,639

351,360

393,048

363,542

CREDITORS

Amounts falling due within one year

50,468

54,210

NET CURRENT ASSETS

342,580

309,332

TOTAL ASSETS LESS CURRENT LIABILITIES

1,477,605

2,845,287

CAPITAL AND RESERVES

Called up share capital

5

74

74

Revaluation reserve

643,689

2,043,689

Capital redemption reserve

26

26

Profit and loss account

833,816

801,498

SHAREHOLDERS' FUNDS

1,477,605

2,845,287

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 29 July 2015 and were signed on its behalf by:

J Lacey - Director

1.	ACCOUNTING POLICIES

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).

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Plant and machinery

-

25% on cost

Fixtures and fittings

-

25% on cost

All fixed assets are initially recorded at cost.

An amount equal to the excess of the annual depreciation charge on revalued assets over the

notional historical cost depreciation charge on those assets is transferred annually from the

revaluation reserve to the profit and loss reserve.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising

from changes in market value is transferred to a revaluation reserve.

Investment properties are shown at their open market value. The surplus or deficit arising from the

annual revaluation is transferred to the investment revaluation reserve unless a deficit, or its

reversal, on an individual investment property is expected to be permanent, in which case it is

recognised in the profit and loss account for the year.

This is in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008)

which, unlike the Companies Act 2006, does not require depreciation of investment properties.

Investment properties are held for their investment potential and not for use by the company and

so their current value is of prime importance. The departure from the provisions of the Act is

required in order to give a true and fair view.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed

at the balance sheet date where transactions or events have occurred at that date that will result in

an obligation to pay more, or right to pay less or to receive more tax, with the following exceptions.

Provisions is made for tax on gains arising from the revaluation (and similar fair value adjustments)

of fixed assets, and gains on disposal of fixed assets that have been rolled over into replacement

assess only to the extent that, at the balance sheet date, there is a binding agreement to dispose of

the assets concerned. However, no provision is made where, on the basis of all available evidence at

the balance sheet date, it is more likely than not that the taxable gain will be rolled over into

replacement assets and charged to tax only where the replacement assets are sold

Deferred tax assets are recognised only to the extent that directors consider that is more likely than

not that there will be suitable taxable profits from which the future reversal of the underlying timing

differences can be deducted.

Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the

periods in which timing differences reverse, based on tax rates and laws enacted or substantively

enacted at the balance sheet date.

Financial instruments

Financial Liabilities and equity instruments are classified according to the contractual arrangements

entered into. An equity instrument is any contract that evidences a residual interest in the assets of

the entity after deducting all of its financial liabilities.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 November 2013

146,657

Disposals

(146,657

)

At 31 October 2014

-

DEPRECIATION

At 1 November 2013

145,727

Charge for year

930

Eliminated on disposal

(146,657

)

At 31 October 2014

-

NET BOOK VALUE

At 31 October 2014

-

At 31 October 2013

930

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 November 2013

and 31 October 2014

75,025

NET BOOK VALUE

At 31 October 2014

75,025

At 31 October 2013

75,025

4.	INVESTMENT PROPERTY

Total

£

COST OR VALUATION

At 1 November 2013

2,460,000

Revaluations

(1,400,000

)

At 31 October 2014

1,060,000

NET BOOK VALUE

At 31 October 2014

1,060,000

At 31 October 2013

2,460,000

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.10.14

31.10.13

value:

£

£

74

Ordinary Shares

£1

74

74

6.	TRANSACTIONS WITH DIRECTORS

Included in other creditors is £43,928 (2013: £44,393) owed to the directors Mrs J Lacey and Mrs A

Millar. The loan is unsecured and interest free.