Accounts filed on 31-03-2016

Accounts filed on 31-03-2016

TAKA INDUSTRIES LIMITED - Company Information

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TAKA INDUSTRIES LIMITED

Company Registration Number:
08271805 (England and Wales)

Report of the Directors and Unaudited Financial Statements

Period of accounts

Start date: 01 April 2015

End date: 31 March 2016

TAKA INDUSTRIES LIMITED

Contents of the Financial Statements

for the Period Ended 31 March 2016

Company Information
Report of the Directors
Profit and Loss Account
Gains and Losses
Balance sheet
Notes to the Financial Statements

TAKA INDUSTRIES LIMITED

Company Information

for the Period Ended 31 March 2016




Director: MOREBLESSING TAKA
Registered office: Pure Offices
Pastures Avenue
St. Georges
Weston-Super-Mare
Somerset
BS22 7SB
Company Registration Number: 08271805 (England and Wales)

TAKA INDUSTRIES LIMITED

Directors' Report Period Ended 31 March 2016

The directors present their report with the financial statements of the company for the period ended 31 March 2016

Directors
 The directors shown below have held office during the whole of the period from
01 April 2015 to 31 March 2016
MOREBLESSING TAKA

The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on 05 March 2017
And Signed On Behalf Of The Board By:

Name: MOREBLESSING TAKA
Status: Director

TAKA INDUSTRIES LIMITED

Profit and Loss Account

for the Period Ended 31 March 2016


Notes
2016
£
2015
£
Turnover: 46,490 10,164
Cost of sales: ( 35,597 ) ( 2,432 )
Gross profit or (loss): 10,893 7,732
Distribution costs: 0 0
Administrative expenses: ( 6,412 ) ( 13,729 )
Other operating income: 0 0
Operating profit or (loss): 4,481 ( 5,997 )
Interest receivable and similar income: 0 0
Interest payable and similar charges: ( 1,058 ) 0
Profit or (loss) on ordinary activities before taxation: 3,423 ( 5,997 )
Tax on profit or (loss) on ordinary activities: ( 685 ) 0
Profit or (loss) for the financial year: 2,738 ( 5,997 )

The notes form part of these financial statements

TAKA INDUSTRIES LIMITED

Statement of total recognised gains and losses

As at 31 March 2016


2016
£
2015
£
Profit or (loss) for the period: 2,738 ( 5,997 )
Revaluation surplus or (deficit): 415
Total recognised gains and losses for the period: 3,153 ( 5,997 )

Further information

Depreciation is provided, after taking account of any grants receivable, at the following annual rates in order to write off each asset over its estimated useful life. Freehold buildings – 2% on cost or re-valued amounts Plant and machinery – 15% on cost Fixtures and fittings – 10% on cost Motor vehicles – 25% on cost.

TAKA INDUSTRIES LIMITED

Balance sheet

As at 31 March 2016


Notes
2016
£
2015
£
Fixed assets
Intangible assets: 2 110 0
Tangible assets: 3 3,655 2,191
Total fixed assets: 3,765 2,191
Current assets
Stocks: 5,189 110
Debtors: 3,425 0
Cash at bank and in hand: 0 142
Total current assets: 8,614 252
Creditors: amounts falling due within one year: ( 10,452 ) ( 5,137 )
Net current assets (liabilities): ( 1,838 ) ( 4,885 )
Total assets less current liabilities: 1,927 ( 2,694 )
Creditors: amounts falling due after more than one year: 0 0
Provision for liabilities: 0 0
Total net assets (liabilities): 1,927 ( 2,694 )

The notes form part of these financial statements

TAKA INDUSTRIES LIMITED

Balance sheet continued

As at 31 March 2016


Notes
2016
£
2015
£
Capital and reserves
Called up share capital: 4 100 100
Revaluation reserve: 5 415 0
Profit and loss account: 6 1,412 ( 2,794 )
Shareholders funds: 1,927 ( 2,694 )

For the year ending 31 March 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 and in accordance with the Financial Reporting Standard for Smaller Entities 2015.

The financial statements were approved by the Board of Directors on 05 March 2017

SIGNED ON BEHALF OF THE BOARD BY:

Name: MOREBLESSING TAKA
Status: Director

The notes form part of these financial statements

TAKA INDUSTRIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2016

  • 1. Accounting policies

    Basis of measurement and preparation of accounts

    The financial statements have been prepared under the historical cost convention and in. accordance with the Financial Reporting Standard for Smaller Entities (Effective Jan 2015) .

    Turnover policy

    The turnover shown in the profit and loss account represents revenue earned during the trading period of 1 April 2015 - 31 March 2016, exclusive of VAT.

    Tangible fixed assets depreciation policy

    Depreciation is provided, after taking account of any grants receivable, at the following annual rates in order to write off each asset over its estimated useful life. Our fixed assets have a short life of 4 years, therefore used a depreciation of 25%.

    Intangible fixed assets amortisation policy

    Intangible fixed assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight basis over their estimated useful economic lives, not to exceed twenty years. Impairment of intangible assets is only reviewed where circumstance indicate that the carrying value of an asset may not be fully recoverable.

    Valuation information and policy

    Stocks and work -in-progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

    Other accounting policies

    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 the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability. Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease. Research and Development Expenditure on research and development is written off in the year in which it is incurred. Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. Deferred taxation is calculated at the rates of tax that are expected to apply in the periods when the timing differences will reverse and has not been discounted.

TAKA INDUSTRIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2016

  • 2. Intangible assets

    Goodwill Other Total
    Cost £ £ £
    01 April 2015: - 0 0
    Additions: - 110 110
    Disposals: - 0 0
    Revaluations: - 0 0
    Transfers: - 0 0
    31 March 2016: - 110 110
    Amortisation
    01 April 2015: - 0 0
    Provided during the period: - 0 0
    On disposals: - 0 0
    Other Adjustments: - 0 0
    31 March 2016: - 0 0
    Net book value
    31 March 2016: - 110 110
    31 March 2015: - 0 0

    Our intangiable assets consist of domains registered to us. We have not put them up for sale and have no intention of selling them just yet.

TAKA INDUSTRIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2016

  • 3. Tangible assets

    Land and buildings Plant and Machinery Fixtures and fittings Office Equipment Motor vehicles Total
    Cost £ £ £ £ £ £
    01 April 2015: - 1,251 43 10 887 2,191
    Additions: - 1,442 437 0 0 1,879
    Disposals: - 0 0 0 0 0
    Revaluations: - 0 0 0 0 0
    Transfers: - 0 0 0 0 0
    31 March 2016: - 2,693 480 10 887 4,070
    Depreciation
    01 April 2015: - 0 0 0 0 0
    Charge for year: - 188 4 1 222 415
    On disposals: - 0 0 0 0 0
    Other adjustments: - 0 0 0 0 0
    31 March 2016: - 188 4 1 222 415
    Net book value
    31 March 2016: - 2,505 476 9 665 3,655
    31 March 2015: - 1,251 43 10 887 2,191

TAKA INDUSTRIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2016

  • 4. Called up share capital

    Allotted, called up and paid

    Previous period
    2015
    Class Number of shares Nominal value per share (£) Total (£)
    Ordinary shares: 100 1.00 100
    Preference shares: 0 0.00 0
    Total share capital (£): 100
    Current period
    2016
    Class Number of shares Nominal value per share (£) Total (£)
    Ordinary shares: 100 1.00 100
    Preference shares: 0 0.00 0
    Total share capital (£): 100

    Ordinary Voting share of a value of £1 each.

TAKA INDUSTRIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2016

  • 5. Revaluation reserve

    £
    At 01 April 2015: 0
    Surplus or deficit arising from revaluation: 415
    At 31 March 2016: 415

TAKA INDUSTRIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2016

  • 6. Profit and loss account


    2016
    £
    2015
    £
    Opening balance: ( 1,326 ) 3,203
    Profit or (loss) for the period: 2,738 ( 5,997 )
    Equity dividends paid: 0 0
    Retained profit: 1,412 ( 2,794 )