Tenby Imports & Exports Ltd - Abbreviated accounts 16.3

REGISTERED NUMBER: 04782742 (England and Wales)

Abbreviated Accounts

for the Year Ended 31 May 2016

for

Tenby Imports & Exports Ltd

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mr H K Jeshani

Mrs A Jeshani

SECRETARY:

Mr H K Jeshani

REGISTERED OFFICE:

Unit 1, Crown House

Otterspool Way (Otterspool Service Road)

Watford

Hertfordshire

WD25 8HL

REGISTERED NUMBER:

04782742 (England and Wales)

ACCOUNTANTS:

KBMD Limited

Chartered Certified Accountants

& Registered Auditors

Maple House

382 Kenton Road

Harrow

Middlesex

HA3 9DP

FIXED ASSETS

Tangible assets

2

51,013

39,355

CURRENT ASSETS

Stocks

1,935,382

2,461,436

Debtors

608,593

464,553

Cash at bank and in hand

1,031,388

292,655

3,575,363

3,218,644

CREDITORS

Amounts falling due within one year

(493,308

)

(233,938

)

NET CURRENT ASSETS

3,082,055

2,984,706

TOTAL ASSETS LESS CURRENT
LIABILITIES

3,133,068

3,024,061

CREDITORS

Amounts falling due after more than one
year

(2,359,973

)

(2,320,148

)

NET ASSETS

773,095

703,913

CAPITAL AND RESERVES

Called up share capital

3

150

Profit and loss account

772,945

703,763

SHAREHOLDERS' FUNDS

773,095

703,913

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

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

The directors acknowledge their 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 13 January 2017 and were signed on its behalf by:

Mrs A Jeshani - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements 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 net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

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

moving items.

Deferred tax

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

sheet date.

Foreign currencies

Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction . Monetary assets

and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet

date. All differences are taken to the profit and loss account.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 June 2015

104,133

Additions

24,959

At 31 May 2016

129,092

DEPRECIATION

At 1 June 2015

64,778

Charge for year

13,301

At 31 May 2016

78,079

NET BOOK VALUE

At 31 May 2016

51,013

At 31 May 2015

39,355

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

150

Ordinary Shares

£1.00

150

4.	SHAREHOLDERS' LOAN

Shareholders's loans were received in USD and are to be repaid in the same currency as they were received. Due

to market exchange rate flucutations, during the year an exchange loss of £274,521 arose as a result of

revaluation of these shareholders' loans.