Company Registration No. 04369177 (England and Wales)
IRON TORQ LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2015
IRON TORQ LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2
IRON TORQ LIMITED
ABBREVIATED BALANCE SHEET
- 1 -
2015
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
-
887
Current assets
Debtors
97
24
Cash at bank and in hand
29,392
77,030
29,489
77,054
Creditors: amounts falling due within one year
(29,389)
(35,941)
Net current assets
100
41,113
Total assets less current liabilities
100
42,000
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
-
41,900
Shareholders' funds
100
42,000
For the financial period ended 30 June 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 period 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 7 August 2015
Mr N P V Oswell-Jones
Director
Company Registration No. 04369177
IRON TORQ LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE PERIOD ENDED 30 JUNE 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 January 2015).
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 2015
2,113
Disposals
(2,113)
At 30 June 2015
-
Depreciation
At 1 March 2015
1,226
On disposals
(1,226)
At 30 June 2015
-
Net book value
At 30 June 2015
-
At 28 February 2015
887
3
Share capital
2015
2015
£
£
Allotted, called up and fully paid
100 Ordinary shares of £1 each
100
100
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