Teconoverseas Limited - Period Ending 2016-12-31

Registration number: 8724606

Teconoverseas Limited

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 December 2016

Teconoverseas Limited

Contents

Company Information	1
Abridged Balance Sheet	2
Notes to the Abridged Financial Statements	3 to 4

Teconoverseas Limited

Company Information

Director

W.R. Hawes

Registered office

5th Floor 86 Jermyn Street London SW1Y 6AW

Accountants

Verfides 5th Floor 86 Jermyn Street London SW1Y 6AW

Page 1

Teconoverseas Limited

(Registration number: 8724606)
Abridged Balance Sheet as at 31 December 2016

	Note	2016 €	2015 €
Current assets
Debtors		-	567
Creditors: Amounts falling due within one year		(18,445)	(1,406)
Total assets less current liabilities		(18,445)	(839)
Accruals and deferred income		(5,136)	(5,597)
Net liabilities		(23,581)	(6,436)
Capital and reserves
Called up share capital		118	118
Profit and loss account		(23,699)	(6,554)
Total equity		(23,581)	(6,436)

For the financial year ending 31 December 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the director on 28 February 2017
 

.........................................

W.R. Hawes

Director

The notes on pages 3 to 4 form an integral part of these abridged financial statements.

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Teconoverseas Limited

Notes to the Abridged Financial Statements for the Year Ended 31 December 2016

1	General information

The company is a private company limited by share capital incorporated in United Kingdom.

The address of its registered office is:
5th Floor
86 Jermyn Street
London
SW1Y 6AW
United Kingdom

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements were prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the
date of the transaction. Monetary assets and liabilities denominated in foreign currencies are
retranslated into the respective functional currency of the entity at the rates prevailing on the reporting
period date. Non-monetary items carried at fair value that are denominated in foreign currencies are
retranslated at the rates prevailing on the initial transaction dates.
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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Teconoverseas Limited

Notes to the Abridged Financial Statements for the Year Ended 31 December 2016

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2015 - 1).

4	Transition to FRS 102

These financial statements are the first financial statements that comply with FRS 102 Section 1A small entities. No adjustments were required and there have been no restatements in the prior year comparatives due to the transition to FRS102.

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