Trolley Collection Services Limited - Period Ending 2015-01-31

Registration number: 02992765

Trolley Collection Services Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 January 2015
 

Thompson Jenner LLP
Chartered Accountants
28 Alexandra Terrace
Exmouth
Devon
EX8 1BD

Trolley Collection Services Limited
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 5

Trolley Collection Services Limited
(Registration number: 02992765)
Abbreviated Balance Sheet at 31 January 2015

		Note			31 January 2015 £			31 January 2014 £
Fixed assets
Tangible fixed assets					61,549			498,106
Investments					183			183
					61,732			498,289
Current assets
Stocks					33,574			39,537
Debtors					1,642,293			1,792,536
Cash at bank and in hand					142,729			473,584
					1,818,596			2,305,657
Creditors: Amounts falling due within one year					(407,195)			(449,881)
Net current assets					1,411,401			1,855,776
Total assets less current liabilities					1,473,133			2,354,065
Creditors: Amounts falling due after more than one year					(212,500)			(500,000)
Provisions for liabilities					-			(5,826)
Net assets					1,260,633			1,848,239
Capital and reserves
Called up share capital		3			50,000			50,000
Profit and loss account					1,210,633			1,798,239
Shareholders' funds					1,260,633			1,848,239

For the year ending 31 January 2015 the company was entitled to exemption from audit 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 notes on pages 3 to 5 form an integral part of these financial statements.
Page 1

Trolley Collection Services Limited
(Registration number: 02992765)
Abbreviated Balance Sheet at 31 January 2015
......... continued

The directors acknowledge their 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 and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2008).

Approved by the Board on 14 September 2015 and signed on its behalf by:

Mr S Rowe
 Director

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 2

Trolley Collection Services Limited
Notes to the Abbreviated Accounts for the Year Ended 31 January 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).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Freehold property	Over 25 years
Leasehold property	Over 10 years
Plant and machinery	20% on reducing balance
Fixtures and fittings	20% on reducing balance
Motor vehicles	15% on reducing balance
Computer equipment	25% straight line

Research and development

Expenditure on research and development is written off in the year in which it is incurred. The total research cost charged to the profit and loss for the year is £nil (2013 - £nil). To date no research costs have been capitalised.

Fixed asset investments

Fixed asset investments are stated at historical cost less provision for any diminution in value.

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks.

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 3

Trolley Collection Services Limited
Notes to the Abbreviated Accounts for the Year Ended 31 January 2015
......... continued

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

2	Fixed assets

		Tangible assets £			Investments £			Total £
Cost
At 1 February 2014		649,001			183			649,184
Additions		311,190			-			311,190
Disposals		(758,935)			-			(758,935)
At 31 January 2015		201,256			183			201,439
Depreciation
At 1 February 2014		150,895			-			150,895
Charge for the year		13,646			-			13,646
Eliminated on disposals		(24,834)			-			(24,834)
At 31 January 2015		139,707			-			139,707
Net book value
At 31 January 2015		61,549			183			61,732
At 31 January 2014		498,106			183			498,289

Page 4

Trolley Collection Services Limited
Notes to the Abbreviated Accounts for the Year Ended 31 January 2015
......... continued

3	Share capital

Allotted, called up and fully paid shares

	31 January 2015						31 January 2014
		No.			£			No.			£
Ordinary shares of £1 each		50,000			50,000			50,000			50,000

4	Related party transactions

Directors' advances and credits

	Year ended 31 January 2015 Advance/ Credit £	Year ended 31 January 2015 Repaid £	1 May 2013 to 31 January 2014 Advance/ Credit £	1 May 2013 to 31 January 2014 Repaid £
Mr S A Rowe
Director loan	-	-	-	31,944
Mrs J Rowe
Director loan	-	-	-	31,944
Mrs V Rowe
Director loan	-	-	-	30,159

Page 5