TFL Service Centre Limited - Period Ending 2015-11-30

Registration number: 04523232

TFL Service Centre Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 November 2015
 

Kajaine Limited
Kajaine House
57-67 High Street
Edgware
HA8 7DD

TFL Service Centre Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

TFL Service Centre Limited
(Registration number: 04523232)
Abbreviated Balance Sheet at 30 November 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					219,671			250,619
Current assets
Stocks					318,325			363,578
Debtors					71,565			76,272
Cash at bank and in hand					1,719			5,717
					391,609			445,567
Creditors: Amounts falling due within one year					(364,819)			(443,771)
Net current assets					26,790			1,796
Total assets less current liabilities					246,461			252,415
Creditors: Amounts falling due after more than one year					-			(8,628)
Net assets					246,461			243,787
Capital and reserves
Called up share capital		3			50,000			50,000
Profit and loss account					196,461			193,787
Shareholders' funds					246,461			243,787

For the year ending 30 November 2015 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 special provisions for small companies under Part 15 of the Companies Act 2006 and with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Approved by the Board on 24 August 2016 and signed on its behalf by:

......................................... Mr A K Jha Director

......................................... Mr P V Manji Director

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

TFL Service Centre Limited
Notes to the Abbreviated Accounts for the Year Ended 30 November 2015
......... 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 April 2008).

Turnover

The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax. In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.

Fixed assets and depreciation

Fixed assets are initially recorded at cost. 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
Plant and machinery	15% reducing balance
Fixtures and fittings	15% reducing balance
Motor vehicles	15% reducing balance

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

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.

Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest is charged to the profit and loss account on a straight line basis.

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.

Pensions

The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.

Page 2

TFL Service Centre Limited
Notes to the Abbreviated Accounts for the Year Ended 30 November 2015
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 December 2014		572,561			572,561
Additions		2,192			2,192
At 30 November 2015		574,753			574,753
Depreciation
At 1 December 2014		321,942			321,942
Charge for the year		33,140			33,140
At 30 November 2015		355,082			355,082
Net book value
At 30 November 2015		219,671			219,671
At 30 November 2014		250,619			250,619

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Odinary shares of £1 each		50,000			50,000			50,000			50,000

4	Related party transactions

The company was under the control of the directors throughout the current and previous year.

At the balance sheet date the amount owed to the directors was £10.349 (2014: £Nil).

No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 8.

 

Page 3