Topfloor Carpets Limited - Period Ending 2015-03-31

Registration number: 05846114

Topfloor Carpets Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2015
 

Topfloor Carpets Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Topfloor Carpets Limited
(Registration number: 05846114)
Abbreviated Balance Sheet at 31 March 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets		2			-			1,033
Current assets
Stocks					-			35,000
Cash at bank and in hand					-			1,948
					-			36,948
Creditors: Amounts falling due within one year					(227,599)			(217,467)
Net current liabilities					(227,599)			(180,519)
Total assets less current liabilities					(227,599)			(179,486)
Creditors: Amounts falling due after more than one year					(150,000)			(150,000)
Provisions for liabilities					-			(205)
Net liabilities					(377,599)			(329,691)
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					(377,699)			(329,791)
Shareholders' deficit					(377,599)			(329,691)

For the year ending 31 March 2015 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 director acknowledges her 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 director on 30 July 2015

.........................................
C M Hanson
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Topfloor Carpets Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015
......... 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).

Going concern

The financial statements have been prepared on a going concern basis which assumes that the company will continue to trade. The validity of this assumption is dependent on the continued support of the director and other creditors not requiring the withdrawal of their monies owed to them until sufficient funds are available.

If the company were unable to trade, adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that may arise, and to reclassify fixed assets and long term liabilities as current assets and liabilities.

Turnover

Turnover represents the total invoice value, excluding value added tax, of sales made during the year. Income is recognised based on the date goods are despatched and the level of completion of services.

Depreciation

Tangible fixed assets are initially recorded at cost. Depreciation is provided on tangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Office equipment	33% reducing balance basis

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.

Page 2

Topfloor Carpets Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 April 2014		1,726			1,726
Disposals		(1,726)			(1,726)
At 31 March 2015		-			-
Depreciation
At 1 April 2014		693			693
Charge for the year		341			341
Eliminated on disposals		(1,034)			(1,034)
At 31 March 2015		-			-
Net book value
At 31 March 2015		-			-
At 31 March 2014		1,033			1,033

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100

4	Related party transactions

Director's advances and credits

	2015 £		2014 £
C M Hanson
Balance owed to the director at the year end	201,104		168,680

5

Control

The company is controlled by C M Hanson. The ultimate controlling party is P.M.C.H Investments Limited.

Page 3