Trade Metal House (UK) Limited - Limited company - abbreviated - 11.9

REGISTERED NUMBER: SC305110 (Scotland)

Abbreviated Accounts for the Year Ended 31 July 2015

for

Trade Metal House (UK) Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

Ms M Horvath

REGISTERED OFFICE:

Blue Square House

272 Bath Street

Glasgow

Scotland

G2 4JR

REGISTERED NUMBER:

SC305110 (Scotland)

ACCOUNTANTS:

Georghiades & Associates

Chartered Certified Accountants

4 Chalk Lane

Cockfosters

Barnet

Hertfordshire

EN4 9HZ

FIXED ASSETS

Intangible assets

2

500,398

536,141

CURRENT ASSETS

Debtors

1,498,777

1,689,994

Cash at bank

1,967

1,988

1,500,744

1,691,982

CREDITORS

Amounts falling due within one year

1,172,269

1,319,144

NET CURRENT ASSETS

328,475

372,838

TOTAL ASSETS LESS CURRENT LIABILITIES

828,873

908,979

CREDITORS

Amounts falling due after more than one year

4,256

3,923

NET ASSETS

824,617

905,056

CAPITAL AND RESERVES

Called up share capital

3

2

2

Profit and loss account

824,615

905,054

SHAREHOLDERS' FUNDS

824,617

905,056

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2015 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 director on 15 March 2016 and were signed by:

Ms M Horvath - 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).

Intangible fixed assets

Intangible fixed assets consists of major patents and licences acquired during the year. The directors of the

company have decided to amortise these costs over the period of 20 years.

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.

Going concern

The financial statements have been prepared on a going concern basis. The directors and the owners of the

company are provided assurances that they will continue supporting the company by providing assistance. This

will also assist the company to meet its current obligations as they fall due.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 August 2014

and 31 July 2015

714,854

AMORTISATION

At 1 August 2014

178,713

Amortisation for year

35,743

At 31 July 2015

214,456

NET BOOK VALUE

At 31 July 2015

500,398

At 31 July 2014

536,141

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.7.15

31.7.14

value:

£

£

2

Ordinary

£1.00

2

2

4.	FOREIGN CURRENCY TRANSLATION

(1) Functional and presentation currency

Items included in the Company's financial statements are measured using the currency of the primary economic

environment in which the entity operates ('the functional currency'). The financial statements are presented in

United States Dollars (US$), which is the Company's functional and presentation currency.

(2) Transactions and balances

Foreign currency transactions are translated into the functional currency using the exchange rates prevailing at

the dates of the transactions. Foreign exchange gains and losses resulting from the settlement of such transactions

and from the translation at year end exchange rates of monetary assets and liabilities denominated in foreign

currencies are recognised in the statement of comprehensive income.