Abbreviated Company Accounts - TRANSNORDIC LIMITED

Abbreviated Company Accounts - TRANSNORDIC LIMITED

TRANSNORDIC LIMITED - Company Information

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Registered Number 00995431

TRANSNORDIC LIMITED

Abbreviated Accounts

31 December 2015

TRANSNORDIC LIMITED Registered Number 00995431

Abbreviated Balance Sheet as at 31 December 2015

Notes 2015 2014
£ £
Fixed assets
Tangible assets 2 26,897 40,837
Investments 3 - 1,331
26,897 42,168
Current assets
Stocks 3,950 59,845
Debtors 81,089 231,413
Cash at bank and in hand 7,952 11,587
92,991 302,845
Creditors: amounts falling due within one year (120,083) (220,976)
Net current assets (liabilities) (27,092) 81,869
Total assets less current liabilities (195) 124,037
Creditors: amounts falling due after more than one year (20,532) (39,618)
Total net assets (liabilities) (20,727) 84,419
Capital and reserves
Called up share capital 200 200
Share premium account 13,900 13,900
Profit and loss account (34,827) 70,319
Shareholders' funds (20,727) 84,419
  • For the year ending 31 December 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 provisions applicable to companies subject to the small companies regime.

Approved by the Board on 29 September 2016

And signed on their behalf by:
D M MacBain, Director

TRANSNORDIC LIMITED Registered Number 00995431

Notes to the Abbreviated Accounts for the period ended 31 December 2015

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover
Turnover represents the amount derived from the provision of goods and services falling within the company's activities after deduction of trade discount and value added tax.

Tangible assets depreciation policy
Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Plant & Machinery - 20% straight line
Fixtures & Fittings - 33% straight line

Valuation information and policy
Fixed assets
All fixed assets are initially recorded at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Other accounting policies
Hire purchase agreements
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.

Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

2Tangible fixed assets
£
Cost
At 1 January 2015 228,683
Additions -
Disposals -
Revaluations -
Transfers -
At 31 December 2015 228,683
Depreciation
At 1 January 2015 187,846
Charge for the year 13,940
On disposals -
At 31 December 2015 201,786
Net book values
At 31 December 2015 26,897
At 31 December 2014 40,837

3Fixed assets Investments
Investments in unquoted shares