TEEC Limited - Period Ending 2013-12-31

Registration number: 05524457

TEEC Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 December 2013
 

TEEC Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

TEEC Limited
(Registration number: 05524457)
Abbreviated Balance Sheet at 31 December 2013

		Note			2013 £			2012 £
Fixed assets
Tangible fixed assets		2			1,454			-
Current assets
Debtors					46,177			34,462
Cash at bank and in hand					6,648			11,153
					52,825			45,615
Creditors: Amounts falling due within one year					(40,291)			(40,292)
Net current assets					12,534			5,323
Total assets less current liabilities					13,988			5,323
Capital and reserves
Called up share capital		3			92			72
Profit and loss account					13,896			5,251
Shareholders' funds					13,988			5,323

For the year ending 31 December 2013 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 20 June 2014

.........................................
Mr A N Abbs
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

TEEC Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2013
......... 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 IT services provided 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
Office equipment	33.3% per annum of cost
Fixtures and fittings	25% per annum of cost

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
Additions		2,143			2,143
At 31 December 2013		2,143			2,143
Depreciation
Charge for the year		689			689
At 31 December 2013		689			689
Net book value
At 31 December 2013		1,454			1,454

Page 2

TEEC Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2013
......... continued

3	Share capital

Allotted, called up and fully paid shares

	2013						2012
		No.			£			No.			£
Ordinary of £1 each		92			92			72			72

New shares allotted

During the year 20 ordinary shares having an aggregate nominal value of £20 were allotted for an aggregate consideration of £20.

4

Control

The company is controlled by Mr A N Abbs.

Page 3