Touchstone Partners Limited - Period Ending 2016-05-31

Registration number: 04441237

Touchstone Partners Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 May 2016
 

Touchstone Partners Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Touchstone Partners Limited
(Registration number: 04441237)
Abbreviated Balance Sheet at 31 May 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					831			2,530
Current assets
Debtors					119,836			177,430
Cash at bank and in hand					147,968			77,631
					267,804			255,061
Creditors: Amounts falling due within one year					(136,628)			(116,390)
Net current assets					131,176			138,671
Net assets					132,007			141,201
Capital and reserves
Called up share capital		3			6,668			6,668
Capital redemption reserve					3,334			3,334
Profit and loss account					122,005			131,199
Shareholders' funds					132,007			141,201

For the year ending 31 May 2016 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 8 July 2016 and signed on its behalf by:

.........................................
J Darby
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Touchstone Partners Limited
Notes to the Abbreviated Accounts for the Year Ended 31 May 2016
......... 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 January 2015).

The accounts do not include a cash flow statement because the company, as a small reporting entity, is exempt from the requirements to prepare such a statement.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of 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
Office equipment	50% straight line

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.

Foreign currency

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

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.

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.

Page 2

Touchstone Partners Limited
Notes to the Abbreviated Accounts for the Year Ended 31 May 2016
......... continued

Pensions

The pension costs charged in the financial statements represent the contribution payable by the company during the year. The regular cost of providing retirement pensions and related benefits is charged to the profit and loss account over the employees' service lives on the basis of a constant percentage of earnings.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 June 2015		52,055			52,055
Additions		1,246			1,246
At 31 May 2016		53,301			53,301
Depreciation
At 1 June 2015		49,525			49,525
Charge for the year		2,945			2,945
At 31 May 2016		52,470			52,470
Net book value
At 31 May 2016		831			831
At 31 May 2015		2,530			2,530

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of £1 each		6,668			6,668			6,668			6,668

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