Technology Initiatives Limited - Abbreviated accounts

TECHNOLOGY INITIATIVES LTD. - Company Information

Registered number

02890324

Technology Initiatives Limited

Abbreviated Accounts

30 June 2016

Technology Initiatives Limited

Chartered Accountants' report to the board of directors on the preparation of the unaudited abbreviated accounts of Technology Initiatives Limited for the year ended 30 June 2016
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abbreviated accounts of Technology Initiatives Limited for the year ended 30 June 2016 which comprise of the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.
Our work has been undertaken in accordance with AAF 2/10 as detailed at icaew.com/compilation.

Telford Associates Limited
Chartered Accountants
The Mount
Barrow Hill
Sellindge
Kent
TN25 6JQ

17 March 2017

Technology Initiatives Limited
Registered number:		02890324
Abbreviated Balance Sheet
as at 30 June 2016

Notes			2016			2015
£				£
Fixed assets
Tangible assets	2		374			1,574
Investments	3		-			100
			374			1,674

Current assets
Debtors		74,638			77,714
Cash at bank and in hand		276,382			394,324
		351,020			472,038

Creditors: amounts falling due within one year		(5,632)			(45,373)

Net current assets			345,388			426,665

Net assets			345,762			428,339

Capital and reserves
Called up share capital	4		1,020			1,020
Profit and loss account			344,742			427,319

Shareholder's funds			345,762			428,339

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.



A B Wright
Director
Approved by the board on 17 March 2017

Technology Initiatives Limited
Notes to the Abbreviated Accounts
for the year ended 30 June 2016

1	Accounting policies

	Basis of preparation
	The accounts 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 the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.

	Depreciation
	Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

	Plant and machinery			33.33%, 20% and 10% straight line


	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.

	Pensions
	The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.


2	Tangible fixed assets					£

	Cost
	At 1 July 2015					46,196
	Additions					578
	At 30 June 2016					46,774

	Depreciation
	At 1 July 2015					44,622
	Charge for the year					1,778
	At 30 June 2016					46,400

	Net book value
	At 30 June 2016					374
	At 30 June 2015					1,574


3	Investments					£

	Cost
	At 1 July 2015					100
	Disposals					(100)

	At 30 June 2016					-

4	Share capital	Nominal		2016		2016		2015
value			Number		£		£
	Allotted, called up and fully paid:
	Ordinary A shares	£1 each		1,000		1,000		1,000
	Ordinary B shares	£1 each		20		20		20
						1,020		1,020