Tru Serve Laser Ltd - Period Ending 2015-08-31

Registration number: 04762907

Tru Serve Laser Ltd

Unaudited Abbreviated Accounts

for the Year Ended 31 August 2015
 

GW Kelly & Co
Chartered Accountants
3 Stadium Court
Plantation Road
Bromborough
Wirral
CH62 3QG

Tru Serve Laser Ltd
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2 to 3

Notes to the Abbreviated Accounts 4 to 6

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 6) have been prepared.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Tru Serve Laser Ltd
for the Year Ended 31 August 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Tru Serve Laser Ltd for the year ended 31 August 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 of Scotland (ICAS), we are subject to its ethical and other professional requirements which are detailed at icas.org.uk/Ethics.

This report is made solely to the Board of Directors of Tru Serve Laser 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 Tru Serve Laser 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 icas.org.uk/Ethics. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Tru Serve Laser Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Tru Serve Laser 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 Tru Serve Laser Ltd. You consider that Tru Serve Laser 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 Tru Serve Laser 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.

......................................

GW Kelly & Co
Chartered Accountants
3 Stadium Court
Plantation Road
Bromborough
Wirral
CH62 3QG

25 May 2016

Page 1

Tru Serve Laser Ltd
(Registration number: 04762907)
Abbreviated Balance Sheet at 31 August 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					17,863			13,160
Current assets
Stocks					5,510			6,455
Debtors					60,636			32,027
Cash at bank and in hand					38			37
					66,184			38,519
Creditors: Amounts falling due within one year					(65,865)			(43,917)
Net current assets/(liabilities)					319			(5,398)
Total assets less current liabilities					18,182			7,762
Creditors: Amounts falling due after more than one year					(14,475)			(5,418)
Provisions for liabilities					(3,573)			(2,217)
Net assets					134			127
Capital and reserves
Called up share capital		3			50			50
Capital redemption reserve					50			50
Profit and loss account					34			27
Shareholders' funds					134			127

For the year ending 31 August 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 by the Board on 25 May 2016 and signed on its behalf by:

The notes on pages 4 to 6 form an integral part of these financial statements.
Page 2

Tru Serve Laser Ltd
(Registration number: 04762907)
Abbreviated Balance Sheet at 31 August 2015
......... continued

.........................................
Mr C P Edwards
Director

The notes on pages 4 to 6 form an integral part of these financial statements.
Page 3

Tru Serve Laser Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 August 2015
......... 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 of the sale of goods and services 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
Plant & Machinery	15% per annum on cost
Fixtures & fittings	15% per annum on cost
Equipment	25% per annum on cost
Motor Vehicles	25% per annum reducing balance

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.

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.

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

Page 4

Tru Serve Laser Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 August 2015
......... continued

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
At 1 September 2014		37,116			37,116
Additions		22,262			22,262
Disposals		(20,062)			(20,062)
At 31 August 2015		39,316			39,316
Depreciation
At 1 September 2014		23,956			23,956
Charge for the year		6,274			6,274
Eliminated on disposals		(8,777)			(8,777)
At 31 August 2015		21,453			21,453
Net book value
At 31 August 2015		17,863			17,863
At 31 August 2014		13,160			13,160

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary of £1 each		50			50			50			50

Page 5

Tru Serve Laser Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 August 2015
......... continued

4	Related party transactions

Directors' advances and credits

	2015 Advance/ Credit £	2015 Repaid £	2014 Advance/ Credit £	2014 Repaid £
Mr C P Edwards
Interest free loan	4,841	-	-	-
Mrs C L Edwards
Interest free loan	4,841	-	-	-

Page 6