Trumor International Steel Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 02203887 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2015

FOR

TRUMOR INTERNATIONAL STEEL LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

P L Bennett

Mrs B Bennett

SECRETARY:

Mrs B Bennett

REGISTERED OFFICE:

Glien House

Cillefwr Industrial Estate

Johnstown

Carmarthen

West Wales

SA31 3RB

REGISTERED NUMBER:

02203887 (England and Wales)

ACCOUNTANTS:

DAVID WRIGHT ACCOUNTANTS LIMITED

1st Floor

Nathaniel House

David Street

Bridgend

South Wales

CF31 3SA

FIXED ASSETS

Tangible assets

2

14,558

-

Investments

3

1

14,559

1

CURRENT ASSETS

Stocks

2,359

22,929

Debtors

439,818

424,214

Investments

12,093

-

Cash at bank

230,122

355,777

684,392

802,920

CREDITORS

Amounts falling due within one year

134,901

183,217

NET CURRENT ASSETS

549,491

619,703

TOTAL ASSETS LESS CURRENT
LIABILITIES

564,050

619,704

CREDITORS

Amounts falling due after more than one
year

4,655

-

NET ASSETS

559,395

619,704

CAPITAL AND RESERVES

Called up share capital

4

143

Profit and loss account

559,252

619,561

SHAREHOLDERS' FUNDS

559,395

619,704

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

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

The directors acknowledge their 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 Board of Directors on 3 June 2016 and were signed on its
behalf by:

P L Bennett - Director

Mrs B Bennett - 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 January 2015).

Turnover

Turnover represents commission receivable in respect of services provided during the year, exclusive

of Value Added Tax. Commission receivable represents the total amount earned by the Company

when acting as agent in the sale of goods by third parties. Commission is normally due 90 days after

the transaction has been completed, depending upon the terms agreed between the principal and the

third parties involved. Accordingly only commission earned on transactions up to and including the

30 September has been accrued for in the financial statements.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet.

Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held

under finance leases are depreciated over their estimated useful lives or the lease term, whichever is

the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant

period. The capital element of the future payments is treated as a liability.

Investments

Fixed asset investments are shown at cost. The carrying values of investments are reviewed for

impairment if events or changes in circumstances indicate the carrying values may not be recoverable.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

Additions

19,965

At 31 December 2015

19,965

DEPRECIATION

Charge for year

5,407

At 31 December 2015

5,407

NET BOOK VALUE

At 31 December 2015

14,558

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 January 2015

and 31 December 2015

14,000

PROVISIONS

At 1 January 2015

and 31 December 2015

13,999

NET BOOK VALUE

At 31 December 2015

1

At 31 December 2014

1

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/12/15

31/12/14

value:

£

143

Ordinary

£1

143

5.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2015

and 31 December 2014:

31/12/15

31/12/14

£

P L Bennett and Mrs B Bennett

Balance outstanding at start of year

100,500

-

Amounts advanced

16,952

158,500

Amounts repaid

(102,257

)

(58,000

)

Balance outstanding at end of year

15,195

100,500

The loan was repaid in full after the year-end.