TC_THREADS_LIMITED - Accounts

TC_THREADS_LIMITED - Accounts

T.C. THREADS LIMITED - Company Information

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Company Registration No. 01679362 (England and Wales)
TC THREADS LIMITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 SEPTEMBER 2015
SOMERBYS LIMITED
CHARTERED ACCOUNTANTS
30 NELSON STREET
LEICESTER
LE1 7BA
TC THREADS LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
TC THREADS LIMITED
ABBREVIATED BALANCE SHEET
AS AT
30 SEPTEMBER 2015
30 September 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
26,639
17,369
Current assets
Stocks
37,572
42,976
Debtors
182,564
181,479
Cash at bank and in hand
28,521
6,823
248,657
231,278
Creditors: amounts falling due within one year
(128,744)
(111,159)
Net current assets
119,913
120,119
Total assets less current liabilities
146,552
137,488
Provisions for liabilities
(3,382)
(1,101)
143,170
136,387
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
143,070
136,287
Shareholders'  funds
143,170
136,387
For the financial year ended 30 September 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 of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 24 June 2016
S T West
Director
Company Registration No. 01679362
TC THREADS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 SEPTEMBER 2015
- 2 -
1
Accounting policies
1.1
Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
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 less estimated residual value of each asset over its expected useful life, as follows:
Plant and machinery
20% straight line on cost
Fixtures, fittings & equipment
33% straight line on cost
Motor vehicles
20% straight line on cost
1.5
Stock
Stock is valued at the lower of cost and net realisable value.

Consignment stocks are held on behalf of suppliers without contractual commitment.  The value of these and the corresponding liability are excluded from the financial statements.
1.6
Pensions
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.
1.7
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes.  The deferred tax balance has not been discounted.
1.8
Foreign currency translation
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.
TC THREADS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2015
- 3 -
2
Fixed assets
Tangible assets
£
Cost
At 1 October 2014
105,917
Additions
20,752
At 30 September 2015
126,669
Depreciation
At 1 October 2014
88,548
Charge for the year
11,482
At 30 September 2015
100,030
Net book value
At 30 September 2015
26,639
At 30 September 2014
17,369
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
80 Ordinary A shares of £1 each
80
80
10 Ordinary B shares of £1 each
10
10
10 Ordinary C shares of £1 each
10
10
100
100

 

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