TOUCH_SOLAR_LTD - Accounts

TOUCH SOLAR LTD - Company Information

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Company Registration No. 07209184 (England and Wales)

TOUCH SOLAR LTD

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2016

TOUCH SOLAR LTD

CONTENTS

Page

Accountants' report

Abbreviated balance sheet

Notes to the abbreviated accounts

3 - 4

TOUCH SOLAR LTD

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF TOUCH SOLAR LTD FOR THE YEAR ENDED 31 AUGUST 2016

- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Touch Solar Ltd for the year ended 31 August 2016 set out on pages 2 to 4 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/regulations.

This report is made solely to the Board of Directors of Touch Solar 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 financial statements of Touch Solar Ltd and state those matters that we have agreed to state to the Board of Directors of Touch Solar Ltd, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Touch Solar Ltd and it's Board of Directors as a body, for our work or for this report.

It is your duty to ensure that Touch Solar Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Touch Solar Ltd. You consider that Touch Solar 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 financial statements of Touch Solar 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 financial statements.

Moore and Smalley LLP

Chartered Accountants

Fylde House

Skyways Commercial Campus

Amy Johnson Way

Blackpool

FY4 3RS

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

TOUCH SOLAR LTD

ABBREVIATED BALANCE SHEET

AS AT

31 AUGUST 2016

- 2 -

2016

2015

Notes

Fixed assets

Tangible assets

705,392

764,235

Investments

100

705,492

764,335

Current assets

Debtors

343,372

391,688

Cash at bank and in hand

14,488

9,811

357,860

401,499

Creditors: amounts falling due within one year

(1,156,845)

(1,277,832)

Net current liabilities

(798,985)

(876,333)

Total assets less current liabilities

(93,493)

(111,998)

(93,493)

(111,998)

Capital and reserves

Called up share capital

100

Share premium account

9,702

Profit and loss account

(103,295)

(121,800)

Shareholders' funds

(93,493)

(111,998)

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on .........................

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

Mr M Bhailok

Director

Company Registration No. 07209184

TOUCH SOLAR LTD

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2016

- 3 -

Accounting policies

1.1

Accounting convention

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

The financial statements have been prepared on a going concern basis. At the balance sheet date the company has negative reserves of £289,290 (2013 £500,286). A total of £1,824,269 is owed to the shareholders and the directors of the company who have given assurance that these funds will not be collected until cashflow allows in future years and the accounts have therefore been prepared on a going concern basis.

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Plant and machinery

25% Reducing balance

Fixtures, fittings & equipment

8 years straight line

Motor vehicles

25% Reducing balance

1.5

Investments

Fixed asset investments are stated at cost less provision for diminution in value.

1.6

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

TOUCH SOLAR LTD

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2016

- 4 -

Fixed assets

Tangible assets

Investments

Total

Cost

At 1 September 2015

1,680,672

100

1,680,772

Additions

177,118

At 31 August 2016

1,857,790

100

1,857,890

Depreciation

At 1 September 2015

916,436

Charge for the year

235,962

At 31 August 2016

1,152,398

Net book value

At 31 August 2016

705,392

100

705,492

At 31 August 2015

764,235

100

764,335

Holdings of more than 20%

The company holds more than 20% of the share capital of the following companies:

Company

Country of registration or

Shares held

incorporation

Class

Subsidiary undertakings

Touch Solar NW Limited

United Kingdom

Ordinary

100.00

The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:

Capital and reserves

Profit/(loss) for the year

2016

Principal activity

Touch Solar NW Limited

To hold the licences for the solar panels provided

100

Share capital

2016

2015

Allotted, called up and fully paid

100 Ordinary of £1 each

100