Total Saddle Solutions Limited Company Accounts

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COMPANY REGISTRATION NUMBER: 5726626

Total Saddle Solutions Limited

Filleted Unaudited Financial Statements

30 April 2017

Total Saddle Solutions Limited

Financial Statements

Year Ended 30 April 2017

Contents	Page

Statement of Financial Position	1

Notes to the Financial Statements	3

Total Saddle Solutions Limited

Statement of Financial Position

30 April 2017

	2017		2016
Note	£	£	£

Fixed Assets

Tangible assets	5		14,079	16,949

Current Assets

Stocks		71,678	68,718
Debtors	6	33,099	20,635
Cash at bank and in hand		29,892	16,142
		-----------	-----------
		134,669	105,495

Creditors: amounts falling due within one year	7	328,159		334,412
		-----------		-----------
Net Current Liabilities			193,490	228,917
			-----------	-----------
Total Assets Less Current Liabilities			( 179,411)	( 211,968)
			-----------	-----------
Net Liabilities			( 179,411)	( 211,968)
			-----------	-----------

Capital and Reserves

Called up share capital	130	130
Profit and loss account	( 179,541)	( 212,098)
	-----------	-----------
Members Deficit	( 179,411)	( 211,968)
	-----------	-----------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 30 April 2017 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 financial statements for the year in question in accordance with section 476 ;

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

Total Saddle Solutions Limited

Statement of Financial Position (continued)

30 April 2017

These financial statements were approved by the board of directors and authorised for issue on 26 January 2018 , and are signed on behalf of the board by:

Mr D K Bondi
Director

Company registration number: 5726626

Total Saddle Solutions Limited

Notes to the Financial Statements

Year Ended 30 April 2017

1. General Information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Firbeck House, Steetley, Worksop, Nottinghamshire, S80 3DZ.

2. Statement of Compliance

These financial statements have been prepared in compliance with the provisions of FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting Policies

Basis of Preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going Concern

The company is showing net liabilities of £179,411(2016:£211,968.The directors have provided ongoing support by making interest free unsecured loans with £237,277(2016:£243,680)outstanding and on this basis consider it appropriate to prepare financial statements on a going concern basis.

Revenue Recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income Tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible Assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Improvements to property	-	25% reducing balance
Plant and machinery	-	25% reducing balance
Fixtures and fittings	-	15% reducing balance

	Equipment	-	25% reducing balance

Impairment of Fixed Assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

4. Employee Numbers

The average number of persons employed by the company during the year amounted to 9 (2016: 8 ).

5. Tangible Assets

	Land and buildings	Plant and machinery	Fixtures and fittings	Equipment	Total
	£	£	£	£	£
Cost
At 1 May 2016	26,295	21,855	4,473	15,754	68,377
Additions	–	–	–	616	616
	---------	---------	--------	---------	---------
At 30 April 2017	26,295	21,855	4,473	16,370	68,993
	---------	---------	--------	---------	---------
Depreciation
At 1 May 2016	20,708	16,742	3,525	10,453	51,428
Charge for the year	1,200	930	142	1,214	3,486
	---------	---------	--------	---------	---------
At 30 April 2017	21,908	17,672	3,667	11,667	54,914
	---------	---------	--------	---------	---------
Carrying amount
At 30 April 2017	4,387	4,183	806	4,703	14,079
	---------	---------	--------	---------	---------
At 30 April 2016	5,587	5,113	948	5,301	16,949
	---------	---------	--------	---------	---------

6. Debtors

	2017	2016
	£	£
Trade debtors	32,497	20,052
Other debtors	602	583
	---------	---------
	33,099	20,635
	---------	---------

7. Creditors: amounts falling due within one year

	2017	2016
	£	£
Trade creditors	14,267	14,124
Corporation tax	–	40
Social security and other taxes	2,770	5,767
Other creditors	311,122	314,481
	-----------	-----------
	328,159	334,412
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