TIMEC_1195_LIMITED - Accounts

TIMEC 1195 LIMITED - Company Information

Print Friendly Version

Company Registration No. 06714336 (England and Wales)

TIMEC 1195 LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE 10 MONTH PERIOD ENDED 6 JUNE 2016

TIMEC 1195 LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

TIMEC 1195 LIMITED

ABBREVIATED BALANCE SHEET

AS AT

6 JUNE 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

161,752

Current assets

Debtors

738

Cash at bank and in hand

50,000

32,642

50,738

32,642

Creditors: amounts falling due within one year

(810)

(157,808)

Net current assets/(liabilities)

49,928

(125,166)

Total assets less current liabilities

49,928

36,586

Capital and reserves

Called up share capital

Profit and loss account

49,926

36,584

Shareholders' funds

49,928

36,586

For the financial 10 month period ended 6 June 2016 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 10 month period 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 and authorised for issue on 13 June 2016

Mr G Shaw

Director

Company Registration No. 06714336

TIMEC 1195 LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE 10 MONTH PERIOD ENDED 6 JUNE 2016

- 2 -

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 January 2015).

The financial statements are not prepared on a going concern basis as the company has ceased trading and the directors intend to apply to the Registrar of Companies for the company to be voluntarily struck off.

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 income receivable from letting of commercial property.

1.4

Tangible fixed assets and depreciation

Investment properties are included in the balance sheet at their open market value. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years.

Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.

Fixed assets

Cost

At 1 September 2015 & at 6 June 2016

At 31 August 2015

161,752

Share capital

2016

2015

Allotted, called up and fully paid

2 Ordinary of £1 each