Todmorden News Centre Ltd

TODMORDEN NEWS CENTRE LIMITED - Company Information

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Registered number: 7292504

Abbreviated accounts

For The Year Ended 31 October 2015

Patel & Co. Accountants

362 Derby Street

Bolton

BL3 6LS

Todmorden News Centre Ltd

Company No. 7292504

Abbreviated Balance Sheet 31 October 2015

Abbreviated Balance Sheet

		2015		2014
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	2		135,000		135,000
Tangible Assets	3		60,757		25,535

			195,757		160,535
CURRENT ASSETS
Stocks		16,719		22,810
Debtors	4	31,674		28,620
Cash at bank and in hand		6,385		6,270

		54,778		57,700
Creditors: Amounts Falling Due Within One Year		(93,175)		(107,093)

NET CURRENT ASSETS (LIABILITIES)			(38,397)		(49,393)

TOTAL ASSETS LESS CURRENT LIABILITIES			157,360		111,142

Creditors: Amounts Falling Due After More Than One Year	5		(108,066)		(66,677)

NET ASSETS			49,294		44,465

CAPITAL AND RESERVES
Called up share capital	6		1		1
Profit and Loss Account			49,293		44,464

SHAREHOLDERS' FUNDS			49,294		44,465

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Todmorden News Centre Ltd

Company No. 7292504

Abbreviated Balance Sheet (continued) 31 October 2015

For the year ending 31 October 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities

The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These abbreviated accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2008).

On behalf of the board

Muntazir Dipoti

9th November 2015

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Todmorden News Centre Ltd

Notes to the Abbreviated Accounts

For The Year Ended 31 October 2015

Notes to the Abbreviated Accounts

Accounting Policies

Basis of Preparation of Financial Statements

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

Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.

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 of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Motor Vehicles	20% on written down value
Fixtures & Fittings	20% on written down value

Leasing and Hire Purchase Contracts

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.

Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

Intangible Assets


	Total
Cost	£
As at 1 November 2014	135,000

As at 31 October 2015	135,000

Net Book Value
As at 31 October 2015	135,000

As at 1 November 2014	135,000

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Todmorden News Centre Ltd

Notes to the Abbreviated Accounts (continued)

For The Year Ended 31 October 2015

Tangible Assets


	Total
Cost	£
As at 1 November 2014	56,515
Additions	54,502
Disposals	(9,663)

As at 31 October 2015	101,354

Depreciation
As at 1 November 2014	30,980
Provided during the period	14,332
Disposals	(4,715)

As at 31 October 2015	40,597

Net Book Value
As at 31 October 2015	60,757

As at 1 November 2014	25,535

Debtors

Debtors include an amount of £ 21,270 (2014 - £ 21,270 ) falling due after more than one year.

Creditors: Amounts Falling Due After More Than One Year

	2015	2014
	£	£
Net obligations under finance lease and hire purchase contracts	63,333	1,232
Bank loans	44,733	65,445

	108,066	66,677

Share Capital

	Value	Number	2015	2014
Allotted, called up and fully paid	£		£	£
Ordinary shares	1.000	1	1	1

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