Together Financial Solutions Ltd - Period Ending 2015-03-31

Registration number: 06472931

Together Financial Solutions Ltd

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2015
 

Together Financial Solutions Ltd
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2 to 3

Notes to the Abbreviated Accounts 4 to 5

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 5) have been prepared.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Together Financial Solutions Ltd
for the Year Ended 31 March 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Together Financial Solutions Ltd for the year ended 31 March 2015 set out on pages 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 (ICAEW), 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 Together Financial Solutions Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Together Financial Solutions Ltd and state those matters that we have agreed to state to them, 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 Together Financial Solutions Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Together Financial Solutions Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Together Financial Solutions Ltd. You consider that Together Financial Solutions Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Together Financial Solutions 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 accounts.

Glover Stanbury & Co
Chartered Accountants
30 Bear Street
BARNSTAPLE
Devon
EX32 7DD

17 December 2015

Page 1

Together Financial Solutions Ltd
(Registration number: 06472931)
Abbreviated Balance Sheet at 31 March 2015

		Note			2015 £			2014 £
Fixed assets
Intangible fixed assets					16,620			22,145
Tangible fixed assets					14,128			16,181
					30,748			38,326
Current assets
Stocks					576			576
Debtors					30,293			32,147
Cash at bank and in hand					21,650			12,073
					52,519			44,796
Creditors: Amounts falling due within one year					(44,754)			(48,609)
Net current assets/(liabilities)					7,765			(3,813)
Total assets less current liabilities					38,513			34,513
Provisions for liabilities					(2,825)			(3,236)
Net assets					35,688			31,277
Capital and reserves
Called up share capital		3			200			200
Profit and loss account					35,488			31,077
Shareholders' funds					35,688			31,277

The notes on pages 4 to 5 form an integral part of these financial statements.
Page 2

Together Financial Solutions Ltd
(Registration number: 06472931)
Abbreviated Balance Sheet at 31 March 2015
......... continued

For the year ending 31 March 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 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 and authorised for issue by the Board on 16 December 2015 and signed on its behalf by:

Mr P J Whiteley Director

Mrs A M Whiteley Director

The notes on pages 4 to 5 form an integral part of these financial statements.
Page 3

Together Financial Solutions Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015

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 in respect of the sale of goods and services to customers.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Amortisation method and rate
Goodwill	Straight line over 10 years

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
Plant and machinery	20% reducing balance
Fixtures and fittings	15% reducing balance
Office equipment	15% reducing balance
Computer equipment	33% straight line

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

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.

Page 4

Together Financial Solutions Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015

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.

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

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 April 2014		52,625			47,784			100,409
Additions		-			1,776			1,776
Disposals		-			(995)			(995)
At 31 March 2015		52,625			48,565			101,190
Depreciation
At 1 April 2014		30,480			31,603			62,083
Charge for the year		5,525			3,829			9,354
Eliminated on disposals		-			(995)			(995)
At 31 March 2015		36,005			34,437			70,442
Net book value
At 31 March 2015		16,620			14,128			30,748
At 31 March 2014		22,145			16,181			38,326

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary of £1 each		200			200			200			200

Page 5