TPS Coaching Limited - Period Ending 2016-12-31

Registration number: 05313839

TPS Coaching Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2016

TPS Coaching Limited

Contents

Balance Sheet	1
Statement of Changes in Equity	2
Notes to the Financial Statements	3 to 7

TPS Coaching Limited

(Registration number: 05313839)
Balance Sheet as at 31 December 2016

	Note	2016 £	2015 £
Fixed assets
Tangible assets	4	4,433	-
Current assets
Debtors	5	80,996	-
Cash at bank and in hand		192,685	100
		273,681	100
Creditors: Amounts falling due within one year	6	(129,084)	-
Net current assets		144,597	100
Net assets		149,030	100
Capital and reserves
Called up share capital		100	100
Profit and loss account		148,930	-
Total equity		149,030	100

For the financial year ending 31 December 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 26 July 2017 and signed on its behalf by:
 

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

Mr Barry Nigel Charles Waring

Director

The notes on pages 3 to 7 form an integral part of these financial statements.

Page 1

TPS Coaching Limited

Statement of Changes in Equity for the Year Ended 31 December 2016

	Share capital £	Profit and loss account £	Total £
At 1 January 2016	100	-	100
Profit for the year	-	226,930	226,930
Total comprehensive income	-	226,930	226,930
Dividends	-	(78,000)	(78,000)
At 31 December 2016	100	148,930	149,030

	Share capital £	Total £
At 1 January 2015	100	100
At 31 December 2015	100	100

The notes on pages 3 to 7 form an integral part of these financial statements.

Page 2

TPS Coaching Limited

Notes to the Financial Statements for the Year Ended 31 December 2016

1	General information

The company is a private company limited by share capital incorporated in the United Kingdom.

The address of its registered office is:
30 St Giles'
Oxford
OX1 3LE

These financial statements were authorised for issue by the Board on 26 July 2017.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Office equipment	33% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Page 3

TPS Coaching Limited

Notes to the Financial Statements for the Year Ended 31 December 2016

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2015 - 0).

Page 4

TPS Coaching Limited

Notes to the Financial Statements for the Year Ended 31 December 2016

4	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
Additions	6,650	6,650
At 31 December 2016	6,650	6,650
Depreciation
Charge for the year	2,217	2,217
At 31 December 2016	2,217	2,217
Carrying amount
At 31 December 2016	4,433	4,433

5

Debtors

	2016 £	2015 £
Trade debtors	54,226	-
Other debtors	26,770	-
Total current trade and other debtors	80,996	-

6

Creditors

	Note	2016 £	2015 £
Due within one year
Trade creditors		55,549	-
Amounts owed to group undertakings and undertakings in which the company has a participating interest	8	15,211	-
Other creditors		58,324	-
		129,084	-

7

Dividends

Interim dividends paid

Page 5

TPS Coaching Limited

Notes to the Financial Statements for the Year Ended 31 December 2016

	2016 £	2015 £
Interim dividend of £780 (2015 - £0) per each ordinary £1 share	78,000	-

Page 6

TPS Coaching Limited

Notes to the Financial Statements for the Year Ended 31 December 2016

8	Related party transactions

Summary of transactions with other related parties

Mr B N C Waring
 (director)
 During the year, Mr B N C Waring withdrew £74,505 from the company, and made payments of £79,117 to the company. At the balance sheet date the amount due to Mr B N C Waring was £4,611.
 

9	Transition to FRS 102

The company has adopted FRS 102 for the first time in the year ended 31st December 2016.

There were no adjustments resulting from the transition to FRS 102 that impact upon the net profit for the year ended 31st December 2015. Total capital and reserves reported in these accounts as at 1st January 2015 and 31st December 2015 are as reported previously.

Page 7