Terra Firma Flooring Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: SC309773 (Scotland)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 OCTOBER 2016

FOR

TERRA FIRMA FLOORING LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

A P Berry

SECRETARY:

Miss P E Stuart

REGISTERED OFFICE:

The Old Schoolhouse

4 Main Street

Craigie

Ayrshire

KA1 5LY

REGISTERED NUMBER:

SC309773 (Scotland)

ACCOUNTANTS:

Henry Brown & Co

Chartered Accountants

26 Portland Road

Kilmarnock

KA1 2EB

FIXED ASSETS

Tangible assets

2

11,906

16,365

CURRENT ASSETS

Debtors

207,481

308,809

Cash at bank

216,879

137,718

424,360

446,527

CREDITORS

Amounts falling due within one year

107,022

106,135

NET CURRENT ASSETS

317,338

340,392

TOTAL ASSETS LESS CURRENT
LIABILITIES

329,244

356,757

CREDITORS

Amounts falling due after more than one
year

-

(7,354

)

PROVISIONS FOR LIABILITIES

(2,381

)

(3,273

)

NET ASSETS

326,863

346,130

CAPITAL AND RESERVES

Called up share capital

3

600

Profit and loss account

326,263

345,530

SHAREHOLDERS' FUNDS

326,863

346,130

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2016 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 18 May 2017 and were signed by:

A P Berry - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective January 2015).

Exemption from preparing a cash flow statement

Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a

small company.

Turnover

Turnover represents the net invoiced amount of sales from the supply and installation of floor and wall

coverings, stated net of value added tax.

Tangible fixed assets

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

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on cost

Deferred tax

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

sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to the profit and loss account in the period to which they relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 November 2015

and 31 October 2016

24,378

DEPRECIATION

At 1 November 2015

8,013

Charge for year

4,459

At 31 October 2016

12,472

NET BOOK VALUE

At 31 October 2016

11,906

At 31 October 2015

16,365

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

300

Ordinary Shares

£1.00

300

Ordinary "A" Shares

£1.00

300

600

4.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 October 2016 and

31 October 2015:

2016

2015

£

A P Berry

Balance outstanding at start of year

26,338

31,943

Amounts advanced

873

1,013

Amounts repaid

(2,200

)

(6,618

)

Balance outstanding at end of year

25,011

26,338