Abbreviated Company Accounts - TURBO DESIGN TECHNOLOGY LIMITED

TURBO DESIGN TECHNOLOGY LIMITED - Company Information

Registered Number 02868034

TURBO DESIGN TECHNOLOGY LIMITED

Abbreviated Accounts

31 October 2013

TURBO DESIGN TECHNOLOGY LIMITED Registered Number 02868034

Abbreviated Balance Sheet as at 31 October 2013

	Notes	2013	2012
		£	£
Called up share capital not paid		-	-
Fixed assets
Tangible assets	2	4,070	3,051
Investments	3	104,000	104,000
		108,070	107,051
Current assets
Debtors	4	502,939	449,123
Cash at bank and in hand		2,831	29,418
		505,770	478,541
Creditors: amounts falling due within one year		(58,286)	(67,503)
Net current assets (liabilities)		447,484	411,038
Total assets less current liabilities		555,554	518,089
Total net assets (liabilities)		555,554	518,089
Capital and reserves
Called up share capital		1	1
Profit and loss account		555,553	518,088
Shareholders' funds		555,554	518,089

For the year ending 31 October 2013 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 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.

Approved by the Board on 26 August 2014

And signed on their behalf by:
Mehrdad Zangeneh, Director

TURBO DESIGN TECHNOLOGY LIMITED Registered Number 02868034

Notes to the Abbreviated Accounts for the period ended 31 October 2013

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents software royalties receivable by the company.

Tangible assets depreciation policy
Depreciation on fixed assets is provided at rates estimated to write off the cost or re-valued amounts, less estimated residual value, of each asset over its expected useful life as follows;-
Computer hardware and software: 20% straight line p.a.
Fixtures and fittings: 20% straight line p.a.

Other accounting policies
Related Party Transactions:

1. During the year company continued to advance an unsecured and interest free loan to M Z Properties Limited, a U.K. registered company controlled and owned by Dr Zangeneh, the director. The balance due from M Z Properties Limited as at 31st October 2013 amounted to £100,102.

2. The company was controlled throughout the current and previous year by Dr M Zangeneh, the director, by virtue of him holding the single share issued by the company.

2Tangible fixed assets

	£
Cost
At 1 November 2012	7,364
Additions	2,625
Disposals	-
Revaluations	-
Transfers	-
At 31 October 2013	9,989
Depreciation
At 1 November 2012	4,313
Charge for the year	1,606
On disposals	-
At 31 October 2013	5,919
Net book values
At 31 October 2013	4,070
At 31 October 2012	3,051

3Fixed assets Investments
The above represents 9 "C" non-voting shares worth £27,000 and 22 "A" Ordinary shares worth £77,000 in Advanced Design Technology Limited, a U.K. registered company in which Dr. Zangeneh has a significant interests.

During the year the company earned £143,816 (2012: £150,198) worth of software licence royalties from Advanced Design Technology Limited and as at year end the balance due from it was £384,789.

4Debtors

	2013 £	2012 £
Debtors include the following amounts due after more than one year	100,102	100,102

See "related party transaction" note in the accounting policies notes.