Translease Services Limited - Period Ending 2015-09-30

Registration number: 05565589

Translease Services Limited
 
  Unaudited Abbreviated Accounts
 
  for the Year Ended 30 September 2015
 

Translease Services Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 4

Translease Services Limited
(Registration number: 05565589 )
  Abbreviated Balance Sheet at 30 September 2015

		Note			2015 £			2014 £
FIXED ASSETS
Tangible fixed assets					4,287,571			3,605,462
CURRENT ASSETS
Debtors					39,409			216,312
Cash at bank and in hand					361,067			366,102
					400,476			582,414
Creditors: Amounts falling due within one year					(1,350,619)			(1,247,021)
Net Current liabilities					(950,143)			(664,607)
Total assets less current liabilities					3,337,428			2,940,855
Creditors: Amounts falling due after more than one year					(2,820,541)			(2,522,636)
Provisions for liabilities					(25,486)			(17,225)
Net assets					491,401			400,994
CAPITAL AND RESERVES
Called up share capital		4			10,000			10,000
Profit and loss account					481,401			390,994
Shareholders' funds					491,401			400,994

For the year ending 30 September 2015 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 director acknowledges his 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 director on 24 November 2015

.........................................
Mr Timothy John Scott
Director

The notes on pages 2 to 4 form an integral part of these financial statements.
  Page 1

Translease Services Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 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
Motor vehicles	20% reducing balance
Fixtures and fittings	20% reducing balance
Office equipment	Equally over 3 years

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.

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.

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

Page 2

Translease Services Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2015
......... continued

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.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 October 2014		5,650,210			5,650,210
Additions		1,877,191			1,877,191
Disposals		(764,131)			(764,131)
At 30 September 2015		6,763,270			6,763,270
Depreciation
At 1 October 2014		2,044,748			2,044,748
Charge for the year		876,665			876,665
Eliminated on disposals		(445,714)			(445,714)
At 30 September 2015		2,475,699			2,475,699
Net book value
At 30 September 2015		4,287,571			4,287,571
At 30 September 2014		3,605,462			3,605,462

3

Creditors

Included in the creditors are the following amounts due after more than five years:

		2015 £			2014 £
After more than five years by instalments		-			16,563

Page 3

Translease Services Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2015
......... continued

4	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary of £1 each		10,000			10,000			10,000			10,000

5

Control

The company is controlled by the shareholders by way of their 100% shareholding in the company..

Page 4