Thakrar Associates Ltd - Period Ending 2016-07-31

Registration number: 06652731

Thakrar Associates Ltd

trading as Thakrar & Co

Unaudited Abbreviated Accounts

for the Year Ended 31 July 2016
 

Thakrar & Co
Accountants & Tax Consultants
Thakrar House
113 Woolwich High Street
Woolwich
London
SE18 6DN

Thakrar Associates Ltd
trading as Thakrar & Co
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 4

Thakrar Associates Ltd
trading as Thakrar & Co
(Registration number: 06652731)
Abbreviated Balance Sheet at 31 July 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					3,537			3,065
Current assets
Stocks					9,500			4,600
Debtors					47,745			41,353
Cash at bank and in hand					8,481			24,391
					65,726			70,344
Creditors: Amounts falling due within one year					(67,723)			(68,251)
Net current (liabilities)/assets					(1,997)			2,093
Net assets					1,540			5,158
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					1,440			5,058
Shareholders' funds					1,540			5,158

For the year ending 31 July 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 director acknowledges his 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 director on 6 September 2016

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 1

Thakrar Associates Ltd
trading as Thakrar & Co
(Registration number: 06652731)
Abbreviated Balance Sheet at 31 July 2016
......... continued

.........................................
Mukesh K Thakrar
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Thakrar Associates Ltd
trading as Thakrar & Co
Notes to the Abbreviated Accounts for the Year Ended 31 July 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.

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
Fixtures, fittings and equipment	25% Reducing balance basis

Work in progress

Work in progress 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. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

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 3

Thakrar Associates Ltd
trading as Thakrar & Co
Notes to the Abbreviated Accounts for the Year Ended 31 July 2016
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 August 2015		8,800			8,800
Additions		1,650			1,650
At 31 July 2016		10,450			10,450
Depreciation
At 1 August 2015		5,735			5,735
Charge for the year		1,178			1,178
At 31 July 2016		6,913			6,913
Net book value
At 31 July 2016		3,537			3,537
At 31 July 2015		3,065			3,065

3	Share capital

Allotted, called up and fully paid shares

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

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