TS Electronics Limited

T S ELECTRONICS LIMITED - Company Information

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Registered number: 02533680

Abbreviated accounts

For The Year Ended 31 August 2015

TS Electronics Limited

Company No. 02533680

Abbreviated Balance Sheet 31 August 2015

Abbreviated Balance Sheet

		2015		2014
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets			-		700
Tangible Assets	2		185,736		163,126

			185,736		163,826
CURRENT ASSETS
Stocks		64,750		44,000
Debtors		263,582		252,517
Cash at bank and in hand		6,059		9,000

		334,391		305,517
Creditors: Amounts Falling Due Within One Year		(425,167)		(418,007)

NET CURRENT ASSETS (LIABILITIES)			(90,776)		(112,490)

TOTAL ASSETS LESS CURRENT LIABILITIES			94,960		51,336

Creditors: Amounts Falling Due After More Than One Year	3		(84,859)		(31,452)

PROVISIONS FOR LIABILITIES
Deferred Taxation			(9,961)		-

NET ASSETS			140		19,884

CAPITAL AND RESERVES
Called up share capital	4		103		103
Profit and Loss Account			37		19,781

SHAREHOLDERS' FUNDS			140		19,884

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TS Electronics Limited

Company No. 02533680

Abbreviated Balance Sheet (continued) 31 August 2015

For the year ending 31 August 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 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 abbreviated accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

On behalf of the board

Mr Ian Ward

22nd January 2016

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TS Electronics Limited

Notes to the Abbreviated Accounts

For The Year Ended 31 August 2015

Notes to the Abbreviated Accounts

Accounting Policies

Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of certain fixed assets, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Statement of Cash Flow

The company has taken advantage of the exemption in Financial Reporting Standard No.1 from the requirement to produce a cash flow statement on the grounds that it is a small company.

Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

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 of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Motor Vehicles	25% reducing balance basis
Fixtures & Fittings	20% reducing balance basis

Leasing and Hire Purchase Contracts

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.

Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

Deferred Taxation

The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.

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TS Electronics Limited

Notes to the Abbreviated Accounts (continued)

For The Year Ended 31 August 2015

Tangible Assets


	Total
Cost	£
As at 1 September 2014	336,752
Additions	98,685
Disposals	(78,921)

As at 31 August 2015	356,516

Depreciation
As at 1 September 2014	173,626
Provided during the period	42,332
Disposals	(45,178)

As at 31 August 2015	170,780

Net Book Value
As at 31 August 2015	185,736

As at 1 September 2014	163,126

Creditors: Amounts Falling Due After More Than One Year

	2015	2014
	£	£
Net obligations under finance lease and hire purchase contracts	84,859	31,452

Share Capital

	Value	Number	2015	2014
Allotted, called up and fully paid	£		£	£
Ordinary shares	1.000	98	98	98


Preference shares	1.000	5	5	5



		103	103	103

Controlling Party

The company does not have an ultimate controlling party.

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