Teal Patents Limited - Accounts to registrar (filleted) - small 17.3
Teal Patents Limited - Accounts to registrar (filleted) - small 17.3
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH JUNE 2017 |
| FOR |
| TEAL PATENTS LIMITED |
| TEAL PATENTS LIMITED (REGISTERED NUMBER: 03212208) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the Year Ended 30th June 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| TEAL PATENTS LIMITED |
| COMPANY INFORMATION |
| for the Year Ended 30th June 2017 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 4 Clews Road |
| Redditch |
| Worcestershire |
| B98 7ST |
| TEAL PATENTS LIMITED (REGISTERED NUMBER: 03212208) |
| BALANCE SHEET |
| 30th June 2017 |
| 2017 | 2016 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES | 7 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 8 |
| Retained earnings | 9 |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their 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. |
| TEAL PATENTS LIMITED (REGISTERED NUMBER: 03212208) |
| BALANCE SHEET - continued |
| 30th June 2017 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors on by: |
| TEAL PATENTS LIMITED (REGISTERED NUMBER: 03212208) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the Year Ended 30th June 2017 |
| 1. | STATUTORY INFORMATION |
| Teal Patents Limited is a |
| registered number and registered office address can be found on the Company Information page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, |
| rebates, value added tax and other sales taxes. |
| Tangible fixed assets |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Computer equipment | - |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and |
| slow moving items. |
| 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 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. |
| TEAL PATENTS LIMITED (REGISTERED NUMBER: 03212208) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 30th June 2017 |
| 2. | ACCOUNTING POLICIES - continued |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
| balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange |
| ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating |
| result. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Plant and | and | Computer |
| machinery | fittings | equipment | Totals |
| £ | £ | £ | £ |
| COST |
| At 1st July 2016 |
| Additions |
| At 30th June 2017 |
| DEPRECIATION |
| At 1st July 2016 |
| Charge for year |
| At 30th June 2017 |
| NET BOOK VALUE |
| At 30th June 2017 |
| At 30th June 2016 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| TEAL PATENTS LIMITED (REGISTERED NUMBER: 03212208) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 30th June 2017 |
| 7. | PROVISIONS FOR LIABILITIES |
| 2017 | 2016 |
| £ | £ |
| Other provisions |
| Guarantee and service reserve | 9,015 | 5,728 |
| 8. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2017 | 2016 |
| value: | £ | £ |
| Ordinary | £1 | 5,500 | 5,500 |
| Ordinary B | £1 | 3,000 | 3,000 |
| Ordinary C | £1 | 1,000 | 1,000 |
| Ordinary D | £1 | 1,500 | 1,500 |
| 11,000 | 11,000 |
| 9. | RESERVES |
| Retained |
| earnings |
| £ |
| At 1st July 2016 |
| Profit for the year |
| Dividends | ( |
) |
| At 30th June 2017 |
| 10. | RELATED PARTY DISCLOSURES |
| The company conducted trade on normal commercial terms with Elmar Commercial Services Limited, a company in which two of the directors, Mr A D May and Mr C H May, had a material interest . The company paid Elmar Commercial Services Limited an amount of £5400 during the year for consultancy charges. |
| Mr M Stanley, a director, was paid dividends of £124161 in the year. |
| Mr C S Whieldon, a director, was paid dividends of £94161 in the year. |
| Elmar Commercial Services Limited, a company in which two of the directors, Mr A D May and Mr C H May, |
| had a material interest, was paid dividends of £24703 in the year. |
| Mr M Stanley, a director, was owed £50061 by the company at the year end. |
| Mr C S Whieldon, a director, was owed £23659 by the company at the year end. |
| 11. | ULTIMATE CONTROLLING PARTY |
| The company is controlled by Mr M L Stanley, a director, by virtue of his ownership of 54.5% of the issued |
| ordinary share capital of the company. |