Tvs Retail Ltd - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 09059271 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2017

FOR

TVS RETAIL LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mrs T Suthaharan

REGISTERED OFFICE:

114 Ardgovan Road

Catford

London

SE6 1UU

REGISTERED NUMBER:

09059271 (England and Wales)

ACCOUNTANTS:

Accountancy Group

Accountants & Business Consultants

SVS House

Oliver Grove

London

SE25 6EJ

FIXED ASSETS

Intangible assets

3

53,063

53,063

Tangible assets

4

29,342

32,602

82,405

85,665

CURRENT ASSETS

Stocks

48,513

43,152

Debtors

5

92

-

Cash at bank and in hand

4,326

12,914

52,931

56,066

CREDITORS

Amounts falling due within one year

6

(76,261

)

(121,748

)

NET CURRENT LIABILITIES

(23,330

)

(65,682

)

TOTAL ASSETS LESS CURRENT LIABILITIES

59,075

19,983

RESERVES

Retained earnings

59,075

19,983

59,075

19,983

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 director acknowledges her 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 director on 28 February 2018 and were signed by:

Mrs T Suthaharan - Director

1.	STATUTORY INFORMATION

Tvs Retail Ltd 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of the business in 2014, is not amortised in

the financial statements.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Furniture and fittings

10%

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.

3.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 June 2016

and 31 May 2017

53,063

NET BOOK VALUE

At 31 May 2017

53,063

At 31 May 2016

53,063

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 June 2016

and 31 May 2017

40,250

DEPRECIATION

At 1 June 2016

7,648

Charge for year

3,260

At 31 May 2017

10,908

NET BOOK VALUE

At 31 May 2017

29,342

At 31 May 2016

32,602

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Other debtors

92

-

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

(1

)

5,461

Taxation and social security

10,438

10,743

Other creditors

65,824

105,544

76,261

121,748