A_TIME_TO_REMEMBER_LTD - Accounts

A_TIME_TO_REMEMBER_LTD - Accounts

A TIME TO REMEMBER LIMITED - Company Information

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Company Registration No. 09131682 (England and Wales)
A TIME TO REMEMBER LTD
DIRECTORS' REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2015
A TIME TO REMEMBER LTD
COMPANY INFORMATION
Directors
L Tyrrell
(Appointed 15 July 2014)
L White
(Appointed 15 July 2014)
Company number
09131682
Registered office
Silverwood Nursery
Sutton Crosses
Long Sutton
Spalding
PE12 9AU
Accountants
Stephenson Smart & Co
36 Tyndall Court
Commerce Road
Lynchwood
Peterborough
Cambridgeshire
PE2 6LR
Business address
Silverwood Nursery
Sutton Crosses
Long Sutton
Spalding
PE12 9AU
A TIME TO REMEMBER LTD
CONTENTS
Page
Directors' report
1
Accountants' report
2
Profit and loss account
3
Balance sheet
4
Notes to the financial statements
5 - 7
A TIME TO REMEMBER LTD
DIRECTORS' REPORT
FOR THE PERIOD ENDED 31 JULY 2015
- 1 -
The directors present their report and financial statements for the period ended 31 July 2015.
Principal activities

The company was incorporated on 15 July 2014 and since that date the principal activity of the company has been that of a vintage tea room. company was incorporated on 15 July 2014 and since that date the principal activity of the company has been that of a vintage tea room.

Directors
The following directors have held office since 15 July 2014:
L Tyrrell
(Appointed 15 July 2014)
L White
(Appointed 15 July 2014)
D Dicks
(Appointed 15 July 2014 and resigned 1 October 2014)
Statement of directors' responsibilities
The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.
On behalf of the board
L Tyrrell
Director
3 November 2015
A TIME TO REMEMBER LTD
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF A TIME TO REMEMBER LTD FOR THE PERIOD ENDED 31 JULY 2015
- 2 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of A Time to Remember Ltd for the period ended 31 July 2015 set out on pages 3 to 7 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.
This report is made solely to the Board of Directors of A Time to Remember Ltd, as a body, in accordance with the terms of our engagement letter dated 8 August 2015. Our work has been undertaken solely to prepare for your approval the financial statements of A Time to Remember Ltd and state those matters that we have agreed to state to the Board of Directors of A Time to Remember Ltd, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than A Time to Remember Ltd and it's Board of Directors as a body, for our work or for this report.
It is your duty to ensure that A Time to Remember Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of A Time to Remember Ltd. You consider that A Time to Remember Ltd is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the financial statements of A Time to Remember Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Stephenson Smart & Co
4 November 2015
Chartered Accountants
36 Tyndall Court
Commerce Road
Lynchwood
Peterborough
Cambridgeshire
PE2 6LR
A TIME TO REMEMBER LTD
PROFIT AND LOSS ACCOUNT
FOR THE PERIOD ENDED 31 JULY 2015
- 3 -
Period
ended
31 July
2015
Notes
£
Turnover
69,342
Cost of sales
(27,631)
Gross profit
41,711
Administrative expenses
(40,656)
Operating profit
2
1,055
Interest payable and similar charges
(4)
Profit on ordinary activities before taxation
1,051
Tax on profit on ordinary activities
3
-
Profit for the period
8
1,051
A TIME TO REMEMBER LTD
BALANCE SHEET
AS AT
31 JULY 2015
31 July 2015
- 4 -
2015
Notes
£
£
Fixed assets
Tangible assets
4
7,108
Current assets
Stocks
1,255
Cash at bank and in hand
775
2,030
Creditors: amounts falling due within one year
5
(2,073)
Net current liabilities
(43)
Total assets less current liabilities
7,065
Creditors: amounts falling due after more than one year
6
(5,914)
1,151
Capital and reserves
Called up share capital
7
100
Profit and loss account
8
1,051
Shareholders' funds
1,151
For the financial period ended 31 July 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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and the Financial Reporting Standard for Smaller Entities (effective April 2008).
Approved by the Board for issue on 3 November 2015
L Tyrrell
Director
Company Registration No. 09131682
A TIME TO REMEMBER LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2015
- 5 -
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.

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:
Plant and machinery
20% reducing balance
Fixtures, fittings & equipment
15% reducing balance
2
Operating profit
2015
£
Operating profit is stated after charging:
Depreciation of tangible assets
1,362
3
Taxation
The company has estimated losses of £ 6,056 available for carry forward against future trading profits.

On the basis of these accounts there is no tax charge for the period.

A TIME TO REMEMBER LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 JULY 2015
- 6 -
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 15 July 2014
-
Additions
8,470
At 31 July 2015
8,470
Depreciation
At 15 July 2014
-
Charge for the period
1,362
At 31 July 2015
1,362
Net book value
At 31 July 2015
7,108
5
Creditors: amounts falling due within one year
2015
£
Taxation and social security
873
Other creditors
1,200
2,073
6
Creditors: amounts falling due after more than one year
2015
£
Other creditors
5,914
7
Share capital
2015
£
Allotted, called up and fully paid
100 Ordinary of £1 each
100

On formation 100 ordinary shares of £1 each were allotted and fully paid at par for cash consideration.

 

A TIME TO REMEMBER LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 JULY 2015
- 7 -
8
Statement of movements on profit and loss account
Profit
and loss
account
£
Profit for the period
1,051
9
Control

The ultimate controlling party is company director Mrs L Tyrrell, by virtue of her 70% shareholding.

10
Related party relationships and transactions

At the period end the company owed its director Mrs L Tyrrell £5,914. Interest is not charged on this loan.

A TIME TO REMEMBER LTD
MANAGEMENT INFORMATION
FOR THE PERIOD ENDED 31 JULY 2015
A TIME TO REMEMBER LTD
SCHEDULE OF ADMINISTRATIVE EXPENSES
FOR THE PERIOD ENDED 31 JULY 2015
Period
ended
31 July
2015
£
Administrative expenses
Wages and salaries (excl. N.I.)
29,841
Employer's N.I. contributions
200
Rent re licences and other
4,600
Rates
70
Insurance
157
Light and heat
1,888
Repairs and maintenance
410
Printing, postage and stationery
719
Advertising
209
Accountancy
1,200
Depreciation on plant and machinery
206
Depreciation on fixtures, fittings and equipment
1,156
40,656
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