Company Registration No. 07524071 (England and Wales)
TLC REAL ESTATE SERVICES LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2015
TLC REAL ESTATE SERVICES LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
TLC REAL ESTATE SERVICES LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2015
31 March 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Intangible assets
2
172,500
150,000
Tangible assets
2
30,276
31,324
202,776
181,324
Current assets
Debtors
329,578
390,177
Cash at bank and in hand
347,530
202,332
677,108
592,509
Creditors: amounts falling due within one year
(246,949)
(231,741)
Net current assets
430,159
360,768
Total assets less current liabilities
632,935
542,092
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
632,835
541,992
Shareholders' funds
632,935
542,092
For the financial year ended 31 March 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 year 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 abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 16 December 2015
C J Coronna
T C Brown
Director
Director
Company Registration No. 07524071
TLC REAL ESTATE SERVICES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2015
- 2 -
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 services net of VAT. Fees receivable on property sales are recognised on completion. Letting and management fees are recognised as income as the respective rent is received. In the event of a break clause the fee is payable on commencement to this date and the remaining fee is payable one day thereafter.
1.4
Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.
1.5
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
3 - 5 years straight line
Fixtures, fittings and equipment
3 - 5 years straight line
1.6
Leasing
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
TLC REAL ESTATE SERVICES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2015
- 3 -
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 April 2014
240,000
49,933
289,933
Additions
60,000
9,693
69,693
At 31 March 2015
300,000
59,626
359,626
Depreciation
At 1 April 2014
90,000
18,609
108,609
Charge for the year
37,500
10,741
48,241
At 31 March 2015
127,500
29,350
156,850
Net book value
At 31 March 2015
172,500
30,276
202,776
At 31 March 2014
150,000
31,324
181,324
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
50 Ordinary 'A' shares of £1 each
50
50
50 Ordinary 'B' shares of £1 each
50
50
100
100
4
Related party relationships and transactions
Loans to directors
The following directors had interest free loans during the year. The movement on these loans are as follows:
Description
% Rate
Opening Balance
Amounts Advanced
Interest Charged
Amounts Repaid
Closing Balance
£
£
£
£
£
C J Coronna - loan
3.25
127,813
-
518
128,331
-
127,813
-
518
128,331
-
The maximum amount outstanding in the year was £127,813.
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