ACCOUNTS - Final Accounts preparation

THEATRECOM SYSTEMS LIMITED - Company Information

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Registered number: 07464589

THEATRECOM SYSTEMS LIMITED

UNAUDITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

THEATRECOM SYSTEMS LIMITED

REGISTERED NUMBER: 07464589

ABBREVIATED BALANCE SHEET

AS AT 31 MARCH 2016

2016

2015

	Note	£	£	£	£
FIXED ASSETS
Tangible assets	2		-		630

CURRENT ASSETS
Debtors	610		1,460
CREDITORS: amounts falling due within one year	(598)		(7,874)
NET CURRENT ASSETS/(LIABILITIES)		12		(6,414)

TOTAL ASSETS LESS CURRENT LIABILITIES

(5,784)

CAPITAL AND RESERVES
Called up share capital	3	10	10
Profit and loss account		2	(5,794)

SHAREHOLDERS' FUNDS/(DEFICIT)

(5,784)

The directors consider that the company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Act.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and for preparing financial statements which give a true and fair view of the state of affairs of the company as at 31 March 2016 and of its profit for the year in accordance with the requirements of sections 394 and 395 of the Act and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The abbreviated accounts, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006, were approved and authorised for issue by the board and were signed on its behalf by:

Mr G J Weston

Director

Date: 13 December 2016

The notes on pages 2 to 3 form part of these financial statements.

Page 1

THEATRECOM SYSTEMS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

1.ACCOUNTING POLICIES

	1.1	Basis of preparation of financial statements
		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).

	1.2	Turnover
		Turnover comprises revenue recognised by the company in respect of audio and lighting goods supplied during the year, exclusive of Value Added Tax and trade discounts. Turnover is recognised when the goods have been physically delivered.

	1.3	Tangible fixed assets and depreciation
		Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Fixtures and fittings

25% reducing balance

	1.4	Deferred taxation
		Full provision is made for deferred tax assets and liabilities arising from all timing differences between the recognition of gains and losses in the financial statements and recognition in the tax computation.
		A net deferred tax asset is recognised only if it can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred tax assets and liabilities are calculated at the tax rates expected to be effective at the time the timing differences are expected to reverse. Deferred tax assets and liabilities are not discounted.

Page 2

THEATRECOM SYSTEMS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

2.TANGIBLE FIXED ASSETS

		£
	Cost
	At 1 April 2015	1,995
	Disposals	(1,995)
	At 31 March 2016	-

	Depreciation
	At 1 April 2015	1,365
	On disposals	(1,365)
	At 31 March 2016	-

	Net book value
	At 31 March 2016	-
	At 31 March 2015	630

3.SHARE CAPITAL

	2016	2015
	£	£
Allotted, called up and unpaid

10 Ordinary shares of £1 each	10	10

Page 3