Targetcount Limited - Period Ending 2016-08-31

Registration number: 02962677

Targetcount Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 August 2016
 

Moffatt & Co
Chartered Accountants
Progress House
396 Wilmslow Road
Withington
Manchester
M20 3BN

Targetcount Limited
(Registration number: 02962677)
Abbreviated Balance Sheet at 31 August 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					1,540,441			1,534,184
Current assets
Debtors					4,907			4,819
Creditors: Amounts falling due within one year					(67,671)			(53,347)
Net current liabilities					(62,764)			(48,528)
Total assets less current liabilities					1,477,677			1,485,656
Creditors: Amounts falling due after more than one year					(962,025)			(972,025)
Net assets					515,652			513,631
Capital and reserves
Called up share capital		3			2			2
Revaluation reserve					431,139			431,139
Profit and loss account					84,511			82,490
Shareholders' funds					515,652			513,631

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 director acknowledges her 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 director on 20 June 2017

.........................................
J Dillon
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Targetcount Limited
Notes to the Abbreviated Accounts for the Year Ended 31 August 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

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Fixtures & fittings	25% reducing balance method

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

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 September 2015		1,539,388			1,539,388
Additions		8,677			8,677
At 31 August 2016		1,548,065			1,548,065
Depreciation
At 1 September 2015		5,204			5,204
Charge for the year		2,420			2,420
At 31 August 2016		7,624			7,624
Net book value
At 31 August 2016		1,540,441			1,540,441
At 31 August 2015		1,534,184			1,534,184

Page 2

Targetcount Limited
Notes to the Abbreviated Accounts for the Year Ended 31 August 2016
......... continued

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of £1 each		2			2			2			2

Page 3