TTNYR_LIMITED - Accounts

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of TTNYR Limited for the Period ended 30 June 2016 set out on pages 3 to 6 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.

This report is made solely to the Board of Directors of TTNYR Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of TTNYR Limited and state those matters that we have agreed to state to the Board of Directors of TTNYR Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www2.accaglobal.com/pubs/members/publications/technical_factsheets/downloads/163.doc. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than TTNYR Limited and its Board of Directors as a body, for our work or for this report.

We have not been instructed to carry out an audit or a review of the financial statements of TTNYR Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

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

Foreign currencies

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.

During the period, transactions were made in Euros (EUR), these transactions have been translated into the presentation currency using an average rate over the period of €1.338055 per £1. Assets and liabilities held at the balance sheet date have been converted using the exchange rate at that date, being €1.2961 per £1. All exchange rates used have been sourced directly from HM Revenue and Customs and can be found at https://www.gov.uk/government/collections/exchange-rates-for-customs-and-vat.

The company invested €61,500 in Invista European Real Estate Trust SICAF, an entity registered in Luxembourg. It is the opinion of the directors that the value of this investment was not materially different to cost at the period end date.

All share capital has been translated into the presentation currency using authorised exchange rates at the balance sheet date.