TSI Snowsports Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 07651245 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 May 2017

for

TSI Snowsports Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M Duffy

S Lee-Duffy

REGISTERED OFFICE:

17 Firs Close

Hazlemere

High Wycombe

Buckinghamshire

HP15 7TF

REGISTERED NUMBER:

07651245 (England and Wales)

ACCOUNTANTS:

Eggleston Wiley LLP

20 Anchor Terrace

3-13 Southwark Bridge Road

London

SE1 9HQ

FIXED ASSETS

Tangible assets

4

1,633

-

Investments

5

50

50

1,683

50

CURRENT ASSETS

Debtors

6

15

950

Cash in hand

20,653

17,588

20,668

18,538

CREDITORS

Amounts falling due within one year

7

21,461

18,535

NET CURRENT (LIABILITIES)/ASSETS

(793

)

3

TOTAL ASSETS LESS CURRENT LIABILITIES

890

53

PROVISIONS FOR LIABILITIES

324

-

NET ASSETS

566

53

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

564

51

SHAREHOLDERS' FUNDS

566

53

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2017 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 26 January 2018 and were signed on its behalf by:

S Lee-Duffy - Director

1.	STATUTORY INFORMATION

TSI Snowsports Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents net invoiced sales of services, excluding 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 etc

-

Straight line over 3 years

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL.

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 June 2016

4,131

Additions

4,149

Disposals

(3,049

)

At 31 May 2017

5,231

DEPRECIATION

At 1 June 2016

4,131

Charge for year

817

Eliminated on disposal

(1,350

)

At 31 May 2017

3,598

NET BOOK VALUE

At 31 May 2017

1,633

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 June 2016

and 31 May 2017

50

NET BOOK VALUE

At 31 May 2017

50

At 31 May 2016

50

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.17

31.5.16

£

£

Amounts owed by group undertakings

15

950

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.17

31.5.16

£

£

Taxation and social security

8,288

7,953

Other creditors

13,173

10,582

21,461

18,535

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year end M Duffy and S Duffy had credit balances of £6,586 (2016 : £5,697) and £5,588 (2016 : £3,886)

on their director loan accounts. The loans are interest free and repayable on demand.

During the year a total of £26,076 (2016: £22,198) was paid to M Duffy and S Duffy who both work as

independent ski instructors on behalf of the company.

9.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr and Mrs M Duffy.