Tassi Sales and Lettings Ltd - Period Ending 2016-08-31

Registration number: 06914633

Tassi Sales and Lettings Ltd

Unaudited Abbreviated Accounts

for the Year Ended 31 August 2016
 

Farrars Limited
  Chartered Accountants
  9 John Tiltman Drive
  Loughborough
  Leicestershire
  LE11 2PU

Tassi Sales and Lettings Ltd
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Tassi Sales and Lettings Ltd (Registration number: 06914633 )
  Abbreviated Balance Sheet at 31 August 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					7,918			11,692
Current assets
Debtors					5,388			12,699
Cash at bank and in hand					190,270			260,346
					195,658			273,045
Creditors: Amounts falling due within one year					(137,266)			(168,787)
Net current assets					58,392			104,258
Total assets less current liabilities					66,310			115,950
Provisions for liabilities					(1,583)			(2,338)
Net assets					64,727			113,612
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					64,627			113,512
Shareholders' funds					64,727			113,612

For the year ending 31 August 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 5 October 2016 and signed on its behalf by:

.........................................
J M Tassi
Director

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

Tassi Sales and Lettings Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 August 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).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers. Turnover is recognised upon delivery of service or delivery of goods.

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	25% straight line
Fixtures and fittings	25% straight line
Motor vehicles	25% straight line
Computer equipment	33.3% 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.

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.

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Tassi Sales and Lettings Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 August 2016 ......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 September 2015		35,005			35,005
Additions		3,224			3,224
Disposals		(6,944)			(6,944)
At 31 August 2016		31,285			31,285
Depreciation
At 1 September 2015		23,313			23,313
Charge for the year		6,998			6,998
Eliminated on disposals		(6,944)			(6,944)
At 31 August 2016		23,367			23,367
Net book value
At 31 August 2016		7,918			7,918
At 31 August 2015		11,692			11,692

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100

4	Related party transactions

Directors' advances and credits

	2016 Advance/ Credit £	2016 Repaid £	2015 Advance/ Credit £	2015 Repaid £
J M Tassi
Director loan advance which is non interest bearing. This amount was repaid on 29 September 2016	603	-	-	-

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