Company Registration No. 04369177 (England and Wales)
IRON TORQ LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2015
IRON TORQ LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2
IRON TORQ LIMITED
ABBREVIATED BALANCE SHEET
AS AT
28 FEBRUARY 2015
28 February 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
887
1,170
Current assets
Debtors
24
46,551
Cash at bank and in hand
77,030
78,159
77,054
124,710
Creditors: amounts falling due within one year
(35,941)
(25,442)
Net current assets
41,113
99,268
Total assets less current liabilities
42,000
100,438
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
41,900
100,338
Shareholders' funds
42,000
100,438
For the financial year ended 28 February 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 28 July 2015
Mr N P V Oswell-Jones
Director
Company Registration No. 04369177
IRON TORQ LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 28 FEBRUARY 2015
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Fixtures, fittings & equipment
20% reducing balance
Motor vehicles
25% reducing balance
2
Fixed assets
Tangible assets
£
Cost
At 1 March 2014 & at 28 February 2015
2,113
Depreciation
At 1 March 2014
943
Charge for the period
283
At 28 February 2015
1,226
Net book value
At 28 February 2015
887
At 28 February 2014
1,170
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
100 Ordinary shares of £1 each
100
100
2015-02-282014-03-01falsetruetruetruetruetruetmp9370.html2015-08-06043691772014-03-012015-02-28043691772015-02-28043691772014-02-28043691772014-02-2804369177uk-bus:Director12014-03-012015-02-2804369177uk-gaap:FixturesFittingsToolsEquipment2014-03-012015-02-2804369177uk-gaap:MotorVehicles2014-03-012015-02-2804369177uk-bus:OrdinaryShareClass12014-03-012015-02-2804369177uk-bus:OrdinaryShareClass12015-02-2804369177uk-bus:OrdinaryShareClass12014-02-28xbrli:purexbrli:sharesiso4217:GBP
