TRACE ELEMENT ASSOCIATES LIMITED - Accounts to registrar - small 17.1.1

REGISTERED NUMBER: 04202735 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 April 2017

for

TRACE ELEMENT ASSOCIATES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

I P Reid

SECRETARY:

M F N Reid

REGISTERED OFFICE:

17 Princess Drive

Alton

Hampshire

GU34 1QS

REGISTERED NUMBER:

04202735 (England and Wales)

ACCOUNTANTS:

B20 Limited

Chartered Certified Accountants

Registered Auditor

Charwell House

Wilsom Road

Alton

Hampshire

GU34 2PP

FIXED ASSETS

Tangible assets

4

1,311

1,748

CURRENT ASSETS

Cash at bank

1,777

2,447

CREDITORS

Amounts falling due within one year

5

(785

)

(1,076

)

NET CURRENT ASSETS

992

1,371

TOTAL ASSETS LESS CURRENT LIABILITIES

2,303

3,119

CAPITAL AND RESERVES

Called up share capital

27

27

Retained earnings

2,276

3,092

SHAREHOLDERS' FUNDS

2,303

3,119

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 8 July 2017 and were signed by:

I P Reid - Director

1.	STATUTORY INFORMATION

TRACE ELEMENT ASSOCIATES LIMITED is a private company, limited by shares , registered in England

and Wales. The company's registered number and registered office address can be found on the Company

Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

33% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 May 2016

and 30 April 2017

6,794

DEPRECIATION

At 1 May 2016

5,046

Charge for year

437

At 30 April 2017

5,483

NET BOOK VALUE

At 30 April 2017

1,311

At 30 April 2016

1,748

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.17

30.4.16

£

£

Trade creditors

(1

)

-

Taxation and social security

-

230

Other creditors

786

846

785

1,076

6.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is I P Reid.