T & J Lettings Ltd - Period Ending 2016-07-31

Registration number: 08129521

T & J Lettings Ltd

Unaudited Abbreviated Accounts

for the Year Ended 31 July 2016
 

ClearTax & Accounting Ltd
The Granary
Yews Farm
Linton Road
Hadstock
CB21 4NU

T & J Lettings Ltd
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
T & J Lettings Ltd
for the Year Ended 31 July 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of T & J Lettings Ltd for the year ended 31 July 2016 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Chartered Institute of Taxation, we are subject to its ethical and other professional requirements which are detailed at www.tax.org.uk.

This report is made solely to the Board of Directors of T & J Lettings Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of T & J Lettings Ltd and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than T & J Lettings Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that T & J Lettings Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of T & J Lettings Ltd. You consider that T & J Lettings Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of T & J Lettings Ltd. 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 accounts.

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

ClearTax & Accounting Ltd
The Granary
Yews Farm
Linton Road
Hadstock
CB21 4NU

14 April 2017

Page 1

T & J Lettings Ltd
(Registration number: 08129521)
Abbreviated Balance Sheet at 31 July 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					103,150			103,150
Current assets
Cash at bank and in hand					6,284			11,295
Creditors: Amounts falling due within one year					(106,422)			(110,940)
Net current liabilities					(100,138)			(99,645)
Net assets					3,012			3,505
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					2,912			3,405
Shareholders' funds					3,012			3,505

For the year ending 31 July 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 14 April 2017 and signed on its behalf by:

.........................................
Mr Trevor Tweed
Director

.........................................
Mrs Jacqueline Tweed
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

T & J Lettings Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 July 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 amounts chargeable in respect of the sale of goods and services to customers.

Depreciation

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives.

Asset class	Depreciation method and rate
Land and Buildings	0%

Investment properties

No depreciation is provided on the company's freehold property since in the opinion of the directors the expected useful lives are sufficiently long and the estimated residual values are sufficiently high that any such depreciation would be immaterial. The directors undertake an annual impairment review of this property.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 August 2015		103,150			103,150
At 31 July 2016		103,150			103,150
Depreciation
At 31 July 2016		-			-
Net book value
At 31 July 2016		103,150			103,150
At 31 July 2015		103,150			103,150

Page 3

T & J Lettings Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 July 2016
......... continued

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary Shares of £1 each		100			100			100			100

4	Related party transactions

Directors' advances and credits

	2016 Advance/ Credit £	2016 Repaid £	2015 Advance/ Credit £	2015 Repaid £
Mr Trevor Tweed
Interest free loan with no fixed payment terms included in other creditors.	52,911	(59)	52,970	-
Mrs Jacqueline Tweed
Interest free loan with no fixed payment terms included in other creditors.	52,911	(59)	52,970	-

Page 4