Typefavour Trading Limited - Accounts to registrar - small 16.3

REGISTERED NUMBER: 02846574 (England and Wales)

Typefavour Trading Limited

Abridged Financial Statements

for the Year Ended 31 March 2016

Page

Company Information

1

Chartered Accountants' Report

2

Statement of Financial Position

3

Notes to the Financial Statements

5

DIRECTOR:

Mr E M Fahri

SECRETARY:

Mrs U Fahri

REGISTERED OFFICE:

11-12 Belmont Parade

Green Lane

Chislehurst

Kent

BR7 6AN

REGISTERED NUMBER:

02846574 (England and Wales)

ACCOUNTANTS:

Alton & Co

Chartered Accountants

237 Kennington Lane

London

SE11 5QU

The following reproduces the text of the report prepared for the director and members in respect of

the company's annual unaudited financial statements. In accordance with the Companies Act 2006,

the company is only required to file a Statement of Financial Position. Readers are cautioned that the

Abridged Income Statement and certain other primary statements and the Report of the Director are

not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your

approval the financial statements of Typefavour Trading Limited for the year ended 31 March 2016 which

comprise the Abridged Income Statement, Other Comprehensive Income, Statement of Financial Position,

and the related notes from the company's accounting records and from information and explanations you

have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Typefavour Trading Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Typefavour Trading Limited and state those matters that we have agreed to state to the director of Typefavour Trading Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Typefavour Trading Limited director for our work or for this report.

It is your duty to ensure that Typefavour Trading Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Typefavour Trading Limited. You consider that Typefavour Trading Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Typefavour Trading Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Alton & Co

Chartered Accountants

237 Kennington Lane

London

SE11 5QU

8 December 2016

FIXED ASSETS

Intangible assets

4

88,800

118,400

Property, plant and equipment

5

161,204

195,862

250,004

314,262

CURRENT ASSETS

Inventories

6

42,859

43,271

Debtors

7

24,391

19,652

Cash at bank

94,712

-

161,962

62,923

CREDITORS

Amounts falling due within one year

8

294,496

258,416

NET CURRENT LIABILITIES

(132,534

)

(195,493

)

TOTAL ASSETS LESS CURRENT LIABILITIES

117,470

118,769

CREDITORS

Amounts falling due after more than one year

9

(67,539

)

(39,741

)

PROVISIONS FOR LIABILITIES

10

(16,451

)

(18,769

)

NET ASSETS

33,480

60,259

CAPITAL AND RESERVES

Called up share capital

11

1,000

1,000

Retained earnings

12

32,480

59,259

SHAREHOLDERS' FUNDS

33,480

60,259

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Income Statement for the year ended 31 March 2016 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 8 December 2016 and were signed by:

Mr E M Fahri - Director

1.	STATUTORY INFORMATION

Typefavour Trading Limited is a private company, limited by shares , registered in England and

Wales. The company's registered number and registered office address can be found on the Company

Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

Turnover is recognised when the service is completed and the company obtains the right to

consideration and is derived from the ordinary activities of the business.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Short leasehold

-

straight line over the life of the lease

Improvements to property

-

15% on reducing balance

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on reducing balance

Stocks

Inventories are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Cost is based on a first in first out method of stock valuation. Net realisable value is based on the sales

value of the stock less any cost to sell.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the statement of financial position date.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet.

Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held

under finance leases are depreciated over their estimated useful lives or the lease term, whichever is

the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The

capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period

of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 32 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2015

and 31 March 2016

148,000

AMORTISATION

At 1 April 2015

29,600

Charge for year

29,600

At 31 March 2016

59,200

NET BOOK VALUE

At 31 March 2016

88,800

At 31 March 2015

118,400

5.	PROPERTY, PLANT AND EQUIPMENT

Improvements

Short

to

Plant and

leasehold

property

machinery

£

£

£

COST

At 1 April 2015

138,746

11,364

213,324

Additions

-

-

8,613

At 31 March 2016

138,746

11,364

221,937

DEPRECIATION

At 1 April 2015

62,569

4,443

178,228

Charge for year

9,250

1,039

10,927

Eliminated on disposal

-

-

-

At 31 March 2016

71,819

5,482

189,155

NET BOOK VALUE

At 31 March 2016

66,927

5,882

32,782

At 31 March 2015

76,177

6,921

35,096

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 April 2015

158,384

51,025

2,357

575,200

Additions

1,770

-

215

10,598

Disposals

-

(17,515

)

-

(17,515

)

At 31 March 2016

160,154

33,510

2,572

568,283

DEPRECIATION

At 1 April 2015

108,836

23,760

1,502

379,338

Charge for year

12,829

2,438

357

36,840

Eliminated on disposal

-

(9,099

)

-

(9,099

)

At 31 March 2016

121,665

17,099

1,859

407,079

NET BOOK VALUE

At 31 March 2016

38,489

16,411

713

161,204

At 31 March 2015

49,548

27,265

855

195,862

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 April 2015

51,025

Disposals

(17,515

)

At 31 March 2016

33,510

DEPRECIATION

At 1 April 2015

23,760

Charge for year

2,438

At 31 March 2016

26,198

NET BOOK VALUE

At 31 March 2016

7,312

At 31 March 2015

27,265

6.	INVENTORIES

2016

2015

£

£

Finished goods

42,859

43,271

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade debtors

4,689

15,536

Prepayments

19,702

4,116

24,391

19,652

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Bank loans and overdrafts

68,567

20,418

Hire purchase contracts

7,002

11,237

Trade creditors

27,605

6,149

Corporation tax payable

37,846

17,950

Social security and other taxes

13,069

10,226

VAT

59,747

67,265

Net pay control

-

6,832

Loan Account - James H Enver

72,900

106,700

Pensions control account

229

-

Directors' current accounts

105

39

Accrued expenses

7,426

11,600

294,496

258,416

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2016

2015

£

£

Bank loans - 1-2 years

18,351

7,705

Bank loans - 2-5 years

36,059

10,141

Hire purchase contracts

13,129

21,895

67,539

39,741

10.	PROVISIONS FOR LIABILITIES

2016

2015

£

£

Deferred tax

16,451

18,769

Deferred

tax

£

Balance at 1 April 2015

18,769

Credit to Abridged Income Statement during year

(2,318

)

Timing difference

Balance at 31 March 2016

16,451

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

1,000

Ordinary

1

1,000

1,000

12.

RESERVES

Retained

earnings

£

At 1 April 2015

59,259

Profit for the year

53,221

Dividends

(80,000

)

At 31 March 2016

32,480

13.	RELATED PARTY DISCLOSURES

Mr E M & Mrs U Fahri

Director & shareholders of the company

During the year, the company paid rent of £42,500 (2015: £42,500) to Mr & Mrs Fahri.

Dividends of £80,000 were paid to Mr & Mrs Fahri during the year.

Amount due to director, Mr E M Fahri, at the balance sheet date was £105 (2015: £39).

14.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr E M Fahri.