Thakrar Associates Ltd - Period Ending 2014-07-31

Registration number: 06652731

Thakrar Associates Ltd

trading as Thakrar & Co

Unaudited Abbreviated Accounts

for the Year Ended 31 July 2014
 

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 2014

		Note			2014 £			2013 £
Fixed assets
Tangible fixed assets					2,086			1,781
Current assets
Stocks					5,400			12,650
Debtors					39,011			41,067
Cash at bank and in hand					23,204			10,073
					67,615			63,790
Creditors: Amounts falling due within one year					(64,505)			(63,532)
Net current assets					3,110			258
Net assets					5,196			2,039
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					5,096			1,939
Shareholders' funds					5,196			2,039

For the year ending 31 July 2014 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 15 October 2014

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 2014
......... 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 2014
......... 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

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 2014
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 August 2013		5,800			5,800
Additions		1,000			1,000
At 31 July 2014		6,800			6,800
Depreciation
At 1 August 2013		4,019			4,019
Charge for the year		695			695
At 31 July 2014		4,714			4,714
Net book value
At 31 July 2014		2,086			2,086
At 31 July 2013		1,781			1,781

3	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary Shares of £1 each		100			100			100			100

Page 4