Abbreviated Company Accounts - TERRAFIRMA MINE SEARCHES LTD

TERRAFIRMA IDC LTD - Company Information

Registered Number 09726669

TERRAFIRMA MINE SEARCHES LTD

Abbreviated Accounts

31 August 2016

TERRAFIRMA MINE SEARCHES LTD Registered Number 09726669

Abbreviated Balance Sheet as at 31 August 2016

	Notes	2016
		£
Called up share capital not paid		-
Fixed assets
Intangible assets	2	3,148
Tangible assets	3	3,965
		7,113
Current assets
Stocks		-
Debtors		14,953
Investments		-
Cash at bank and in hand		8,684
		23,637
Prepayments and accrued income		370
Creditors: amounts falling due within one year		(7,668)
Net current assets (liabilities)		16,339
Total assets less current liabilities		23,452
Creditors: amounts falling due after more than one year		(61,144)
Total net assets (liabilities)		(37,692)
Capital and reserves
Called up share capital		100
Share premium account		13,455
Revaluation reserve		0
Other reserves		0
Profit and loss account		(51,247)
Shareholders' funds		(37,692)

For the year ending 31 August 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.

Approved by the Board on 19 April 2017

And signed on their behalf by:
Tom Backhouse, Director
Antony Turck, Director

TERRAFIRMA MINE SEARCHES LTD Registered Number 09726669

Notes to the Abbreviated Accounts for the period ended 31 August 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Revenue is recognised when invoiced.

Tangible assets depreciation policy
Tangible assets are depreciated on a straight line basis using an estimation of their useful life. We estimate our furniture and fittings to have a useful life of 4 years, and computer equipment to have a useful life of 3 years.

Intangible assets amortisation policy
Intangible assets are depreciated on a straight line basis using an estimation of their useful life. We estimate our intangible assets to have a useful life of 3 years.

2Intangible fixed assets

	£
Cost
Additions	4,053
Disposals	0
Revaluations	0
Transfers	0
At 31 August 2016	4,053
Amortisation
Charge for the year	905
On disposals	0
At 31 August 2016	905
Net book values
At 31 August 2016	3,148

3Tangible fixed assets

	£
Cost
Additions	5,327
Disposals	0
Revaluations	0
Transfers	0
At 31 August 2016	5,327
Depreciation
Charge for the year	1,362
On disposals	0
At 31 August 2016	1,362
Net book values
At 31 August 2016	3,965