Titan Enterprises Limited - Limited company - abbreviated

REGISTERED NUMBER: 01599477 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31 March 2014

for

Titan Enterprises Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mrs J Forster

Mr J T Forster

REGISTERED OFFICE:

Unit 2

5A Coldharbour Business Park

Sherborne

Dorset

DT9 4JW

REGISTERED NUMBER:

01599477 (England and Wales)

ACCOUNTANTS:

AFB Accountants Limited

York House

Coldharbour Business Park

Sherborne

Dorset

DT9 4JW

FIXED ASSETS

Intangible assets

2

-

Tangible assets

3

33,618

60,142

33,618

60,142

CURRENT ASSETS

Stocks

266,271

315,956

Debtors

189,387

201,874

Cash at bank and in hand

215,599

177,011

671,257

694,841

CREDITORS

Amounts falling due within one year

245,237

301,126

NET CURRENT ASSETS

426,020

393,715

TOTAL ASSETS LESS CURRENT
LIABILITIES

459,638

453,857

PROVISIONS FOR LIABILITIES

1,946

6,198

NET ASSETS

457,692

447,659

CAPITAL AND RESERVES

Called up share capital

4

2

Profit and loss account

457,690

447,657

SHAREHOLDERS' FUNDS

457,692

447,659

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 27 August 2014 and were signed on its
behalf by:

Mr J T Forster - Director

1.	ACCOUNTING POLICIES

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).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Patents and trade marks

Amortisation is calculated so as to write off the cost of an asset, net of anticipated disposal proceeds

over the useful economic life of that asset as follows:

Patents 25% reducing balance

Trade marks 33% on cost

Research and development

Development expenditure incurred on clearly defined projects whose outcome can be assessed with

reasonable certainty is carried forward and amortisation is charged from that time over the lesser of

the life of the project or three years. All other research and development expenditure is written off in

the year in which it is incurred.

Tangible fixed assets

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

Short leasehold

-

10% on cost

Plant and machinery

-

10% on cost

Fixtures and fittings

-

33% on cost and 10% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis

over the period of the lease.

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.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2013

and 31 March 2014

26,871

AMORTISATION

At 1 April 2013

and 31 March 2014

26,871

NET BOOK VALUE

At 31 March 2014

-

At 31 March 2013

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2013

326,281

Additions

494

At 31 March 2014

326,775

DEPRECIATION

At 1 April 2013

266,139

Charge for year

27,018

At 31 March 2014

293,157

NET BOOK VALUE

At 31 March 2014

33,618

At 31 March 2013

60,142

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.14

31.3.13

value:

£

2

Ordinary

£1

2

Titan Enterprises Limited - Limited company - abbreviated - 11.0.0

Titan Enterprises Limited - Limited company - abbreviated - 11.0.0