ACCOUNTS - Final Accounts

Caseware UK (AP4) 2016.0.181 2016.0.181 2017-03-312017-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.falsefalseNo description of principal activityfalse2016-04-01 3402272 2016-04-01 2017-03-31 3402272 2015-04-01 2016-03-31 3402272 2017-03-31 3402272 2016-03-31 3402272 2015-04-01 3402272 c:Director2 2016-04-01 2017-03-31 3402272 d:CurrentFinancialInstruments 2017-03-31 3402272 d:CurrentFinancialInstruments 2016-03-31 3402272 d:CurrentFinancialInstruments d:WithinOneYear 2017-03-31 3402272 d:CurrentFinancialInstruments d:WithinOneYear 2016-03-31 3402272 d:ShareCapital 2017-03-31 3402272 d:ShareCapital 2016-03-31 3402272 d:ShareCapital 2015-04-01 3402272 d:SharePremium 2017-03-31 3402272 d:SharePremium 2016-03-31 3402272 d:SharePremium 2015-04-01 3402272 d:RetainedEarningsAccumulatedLosses 2016-04-01 2017-03-31 3402272 d:RetainedEarningsAccumulatedLosses 2017-03-31 3402272 d:RetainedEarningsAccumulatedLosses 2015-04-01 2016-03-31 3402272 d:RetainedEarningsAccumulatedLosses 2016-03-31 3402272 d:RetainedEarningsAccumulatedLosses 2015-04-01 3402272 c:FRS102 2016-04-01 2017-03-31 3402272 c:AuditExempt-NoAccountantsReport 2016-04-01 2017-03-31 3402272 c:FullAccounts 2016-04-01 2017-03-31 3402272 c:PrivateLimitedCompanyLtd 2016-04-01 2017-03-31 iso4217:GBP xbrli:pure

3402272

TURNSTART LIMITED

UNAUDITED

DIRECTORS' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017


TURNSTART LIMITED REGISTERED NUMBER:3402272

BALANCE SHEET

AS AT 31 MARCH 2017

		2017		2016
Note		£		£


Current assets
Debtors: amounts falling due within one year	4	205,455		297,002
Cash at bank		10,937		29,688
		216,392		326,690
Creditors: amounts falling due within one year	5	(138,048)		(238,554)
Net current assets			78,344		88,136
Total assets less current liabilities			78,344		88,136

Capital and reserves
Called up share capital	11,986	11,986
Share premium account	60,801	60,801
Profit and loss account	5,557	15,349
	78,344	88,136

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 22 December 2017.

G J Rankin

Director

The notes on pages 3 to 4 form part of these financial statements.

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TURNSTART LIMITED

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 MARCH 2017

	Called up share capital	Share premium account	Profit and loss account	Total equity
	£	£	£	£
At 1 April 2015	11,986	60,801	1,423	74,210
Comprehensive income for the year
Profit for the year	-	-	13,926	13,926

At 1 April 2016	11,986	60,801	15,349	88,136
Comprehensive income for the year
Loss for the year	-	-	(9,792)	(9,792)
At 31 March 2017	11,986	60,801	5,557	78,344

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TURNSTART LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

1.	General information

Turnstart Limited is incorporated and domiciled in England and Wales. The registered office is Suite 51, The Business Centre, Ingate Place, London, SW8 3NS.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue comprises income recognised by the company in respect of publishing and advertising services supplied during the year, exclusive of Value Added Tax and trade discounts. Subscriptions income is matched to the magazine issue it relates to, with any income received in advance being carried forward on the balance sheet as deferred income to match with future issues.

2.3

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to and from related parties.

2.4

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Statement of Comprehensive Income except when deferred in other comprehensive income as qualifying cash flow hedges.

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TURNSTART LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

2.Accounting policies (continued)

2.5

Taxation

Tax is recognised in the Statement of Comprehensive Income, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Employees

The average monthly number of employees, including directors, during the year was 2 (2016 - 2).

Debtors

					2017	2016
					£	£


Trade debtors	98,915	55,740
Other debtors	106,540	241,262
	205,455	297,002

5.	Creditors: Amounts falling due within one year
		2017	2016
		£	£

Trade creditors	15,790	11,998
Corporation tax	-	1,910
Other creditors	119,908	180,761
Accruals and deferred income	2,350	43,885
	138,048	238,554

6.	First time adoption of FRS 102 The policies applied under the entity's previous accounting framework are not materially different to FRS 102 and have not impacted on equity or profit or loss.

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