Abbreviated Company Accounts - TIME LINE INTERNATIONAL LIMITED

TIME LINE INTERNATIONAL LIMITED - Company Information

03990966 TIME LINE INTERNATIONAL LIMITED 2016-05-31 false 2015-06-01 2016-05-31 true 03990966 2015-06-01 2016-05-31 03990966 2016-05-31 03990966 2015-05-31 03990966 uk-gaap-cd-bus:Director1 2015-06-01 2016-05-31 03990966 uk-gaap-cd-bus:Director2 2015-06-01 2016-05-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-06-01 2016-05-31 uk-gaap-cd-bus:OrdinaryShareClass1 2016-05-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-05-31 uk-gaap-cd-bus:OrdinaryShareClass2 2015-06-01 2016-05-31 uk-gaap-cd-bus:OrdinaryShareClass2 2016-05-31 uk-gaap-cd-bus:OrdinaryShareClass2 2015-05-31 iso4217:GBP shares

Registered Number 03990966

TIME LINE INTERNATIONAL LIMITED

Abbreviated Accounts

31 May 2016

TIME LINE INTERNATIONAL LIMITED Registered Number 03990966

Abbreviated Balance Sheet as at 31 May 2016

	Notes	2016	2015
		£	£
Fixed assets
Tangible assets	2	181,352	148,199
Investments	3	64	-
		181,416	148,199
Current assets
Debtors		251,295	355,145
Cash at bank and in hand		426,342	205,199
		677,637	560,344
Creditors: amounts falling due within one year		(567,704)	(426,471)
Net current assets (liabilities)		109,933	133,873
Total assets less current liabilities		291,349	282,072
Provisions for liabilities		(8,675)	-
Total net assets (liabilities)		282,674	282,072
Capital and reserves
Called up share capital	4	4,100	4,100
Profit and loss account		278,574	277,972
Shareholders' funds		282,674	282,072

For the year ending 31 May 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 directors acknowledge their 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 Board on 27 February 2017

And signed on their behalf by:
Mr P Bessey, Director
Mrs J Morley, Director

TIME LINE INTERNATIONAL LIMITED Registered Number 03990966

Notes to the Abbreviated Accounts for the period ended 31 May 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

Turnover policy
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
Profit is recognised on long-term contracts, if the final outcome can be assessed with reasonable certainty, by including in the profit and loss account turnover and related costs as contract activity progresses. Turnover is calculated as that proportion of total contract value which costs to date bear to total expected costs for that contract.

Tangible assets depreciation policy
Tangible fixed assets other than freehold land are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Land and buildings Freehold 2% Straight Line
Plant and machinery 25% Reducing Balance
Motor vehicles 25% Reducing Balance

Other accounting policies
Leasing
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

Investments
Fixed asset investments are stated at cost less provision for diminution in value.

Foreign currency translation
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either 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.

2Tangible fixed assets

	£
Cost
At 1 June 2015	186,630
Additions	52,781
Disposals	(14,075)
Revaluations	-
Transfers	-
At 31 May 2016	225,336
Depreciation
At 1 June 2015	38,431
Charge for the year	17,525
On disposals	(11,972)
At 31 May 2016	43,984
Net book values
At 31 May 2016	181,352
At 31 May 2015	148,199

3Fixed assets Investments
Holdings of more than 20%
The company holds more than 20% of the share capital of the following companies:

Company Country of registration or Shares held
incorporation Class %
Subsidiary undertakings
Time Line International NC SARL New Caledonia Ordinary 100.00

The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:

Capital and reserves Profit/(loss) for the year
2016 2016
Principal activity £ £
Time Line International The provision of management 100 -
NC SARL consultancy services

4Called Up Share Capital
Allotted, called up and fully paid:

	2016 £	2015 £
100 Ordinary shares of £1 each	100	100
400,000 Ordinary E shares of £0.01 each	4,000	4,000