TIBS Energy Limited - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: 04518406 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31ST JANUARY 2014

FOR

TIBS ENERGY LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

J M Ruddy

N C Jeavons

SECRETARY:

Mrs M G Jeavons

REGISTERED OFFICE:

Broad Lanes

Bilston

West Midlands

WV14 0RQ

REGISTERED NUMBER:

04518406 (England and Wales)

ACCOUNTANTS:

Howards Limited

Chartered Certified Accountants

Newport House

Newport Road

Stafford

Staffordshire

ST16 1DA

FIXED ASSETS

Tangible assets

2

26,873

35,831

CURRENT ASSETS

Debtors

607,597

1,245,246

Cash at bank

702,434

725,663

1,310,031

1,970,909

CREDITORS

Amounts falling due within one year

675,963

1,609,891

NET CURRENT ASSETS

634,068

361,018

TOTAL ASSETS LESS CURRENT LIABILITIES

660,941

396,849

PROVISIONS FOR LIABILITIES

2,042

3,332

NET ASSETS

658,899

393,517

CAPITAL AND RESERVES

Called up share capital

3

1,000

1,000

Profit and loss account

657,899

392,517

SHAREHOLDERS' FUNDS

658,899

393,517

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st January 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st January 2014 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 4th September 2014 and were signed on its behalf by:

N C Jeavons - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared in accordance with the special provisions of part 15 of the

Companies Act 2006 relating to small companies and with the Financial Reporting Standard for Smaller Entities

(Effective April 2008).

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

The objective of Financial Reporting Standard 18 is to ensure that accounting policies and estimation techniques

adopted are the most appropriate for the purpose of giving a true and fair view; and that those policies are

reviewed regularly by the Board of Directors. The director's have reviewed the accounting policies adopted by

the company and consider these are the most appropriate policies and are adequately disclosed.

Turnover

Turnover represents the value of goods and services provided under contracts to the extent that there is a right

to consideration and is recorded at the value of the consideration due.

Where a contract has only been partly completed at the balance sheet date turnover represents the value of the

service provided to date based on a proportion of the total expected consideration at completion. Where

payments are received in advance of services provided, the amounts are recorded as deferred income and

included as part of creditors due within one year.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Motor vehicles

-

25% on reducing balance

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling

at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to the profit and loss account in the period to which they relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st February 2013

and 31st January 2014

47,774

DEPRECIATION

At 1st February 2013

11,943

Charge for year

8,958

At 31st January 2014

20,901

NET BOOK VALUE

At 31st January 2014

26,873

At 31st January 2013

35,831

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

1,000

Ordinary

£1

1,000

1,000