Trophy_Swindon__North_Wiltshire_Ltd_30_Nov_2016_abbreviated_set_of_accounts.html

Trophy_Swindon__North_Wiltshire_Ltd_30_Nov_2016_abbreviated_set_of_accounts.html

TROPHY SWINDON & NORTH WILTSHIRE LTD - Company Information

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Private Limited CompanyCompany accountstrue1 December 2015FYtruetruefalsetruetruefalsexbrli:purexbrli:sharesiso4217:GBP083095332015-11-302016-11-30083095332016-11-3008309533uk-bus:Director12015-11-302016-11-3008309533uk-bus:Director22015-11-302016-11-3008309533uk-gaap:NetGoodwill2015-11-302016-11-3008309533uk-gaap:OtherIntangibleFixedAssets2015-11-302016-11-3008309533uk-gaap:PlantMachinery2015-11-302016-11-3008309533uk-bus:OrdinaryShareClass12015-11-302016-11-3008309533uk-bus:OrdinaryShareClass12014-11-302015-11-3008309533uk-bus:OrdinaryShareClass12016-11-3008309533uk-bus:OrdinaryShareClass12015-11-30
Company registration number:
08309533
Trophy Swindon & North Wiltshire Ltd.
Abbreviated Financial Statements
for the year ended
30 November 2016
Trophy Swindon & North Wiltshire Ltd.
Abbreviated Balance Sheet
30 November 2016
20162015
Note££
Fixed assets    
Intangible assets 2
14,045
  -  
Tangible assets 3
1,199
  -  
15,244
  -  
Current assets    
Stocks
1,802
  -  
Debtors
742
  -  
Cash at bank and in hand
3,217
  -  
5,761
  -  
Creditors: amounts falling due within one year 4
(31,464
 ) -  
Net current liabilities
(25,703
 ) -  
Total assets less current liabilities
(10,459
 ) -  
Creditors: amounts falling due after more than one year 5
6,414
  -  
Net liabilities
(4,045
 ) -  
Capital and reserves    
Called up share capital 6
2,000
  -  
Profit and loss account
(6,045
 ) -  
Shareholders deficit
(4,045
 ) -  
For the year ending
30 November 2016
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
  • The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
These abbreviated financial statements were approved by the board of directors and authorised for issue on
27 February 2017
, and are signed on behalf of the board by:
Mr Matthew Snell
Mrs J Snell
DirectorDirector
Company registration number:
08309533
Trophy Swindon & North Wiltshire Ltd.
Notes to the Abbreviated Accounts
Year ended
30 November 2016

1 Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Going concern

Turnover

Turnover represents amounts invoiced during the year, exclusive of Value Added Tax and trade discounts. Turnover is recognised when the seller obtains the right to consideration in exchange for its performance, usually on dispatch of the goods.

Goodwill

Purchased goodwill arises on business acquisitions and represents the difference between the cost of acquisition and the fair values of the identifiable assets and liabilities acquired. Goodwill is initially recorded at cost, and is subsequently stated at cost less any accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over the useful economic life of the asset. Where a reliable estimate of the useful life of goodwill cannot be made, the life is presumed not to exceed five years. The carrying values of goodwill is reviewed for impairment in a period if events or changes in circumstances indicate the carrying value may not be recoverable.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and accumulated impairment losses. Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of the asset. Where a reliable estimate of the useful life of intangible assets cannot be made, the life is presumed not to exceed five years. The carrying values of intangible assets are reviewed for impairment in a period if events or changes in circumstances indicate the carrying value may not be recoverable.

Tangible assets

Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Plant and machinery
25% straight line

Stocks

Stocks are stated at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Operating leases

Leases are classified as operating leases where substantially all the benefits of ownerships remain with the lessor. Rentals payable under operating leases are charged to the profit and loss account on a straight-line basis over the lease term.

2 Intangible assets

£
Cost  
At
1 December 2015
 -  
Additions
14,045
 
At
30 November 2016
14,045
 
Amortisation  
At
1 December 2015
 -  
At
30 November 2016
 -  
Net book value  
At
30 November 2016
14,045
 
At 30 November 2015 -  

3 Tangible assets

£
Cost  
At
1 December 2015
 -  
Additions
1,642
 
At
30 November 2016
1,642
 
Depreciation  
At
1 December 2015
 -  
Charge
443
 
At
30 November 2016
443
 
Net book value  
At
30 November 2016
1,199
 
At 30 November 2015 -  

4 Creditors: amounts falling due within one year

5 Creditors: amounts falling due after more than one year

6 Called up share capital

Authorised share capital

20162015
No.£No.£
Ordinary Shares
shares of £​
1.00
each
2
 
2
 
2
 
2
 

Allotted, called up and fully paid

20162015
No.£No.£
Ordinary Shares
shares of £​
1.00
each
2
 
2
 
2
 
2