Tulip Capital Limited Filleted accounts for Companies House (small and micro)

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COMPANY REGISTRATION NUMBER: 08178370

TULIP CAPITAL LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30 September 2017

TULIP CAPITAL LIMITED

FINANCIAL STATEMENTS

YEAR ENDED 30 SEPTEMBER 2017

Contents	Page

Officers and professional advisers	1

Statement of financial position	2

Notes to the financial statements	4

TULIP CAPITAL LIMITED

OFFICERS AND PROFESSIONAL ADVISERS

The board of directors	Z Zivlin
	Mr D Brown

Registered office	7-12 Tavistock Square
	London
	United Kingdom
	WC1H 9BQ

TULIP CAPITAL LIMITED

STATEMENT OF FINANCIAL POSITION

30 September 2017

	2017		2016
Note	£	£	£	£

Current assets

Debtors	5	810	–
Cash at bank and in hand		571,039	998,280
		---------	---------
		571,849	998,280

Creditors: amounts falling due within one year	6	19,534		366,231
		---------		---------
Net current assets			552,315		632,049
			---------		---------
Total assets less current liabilities			552,315		632,049

Creditors: amounts falling due after more than one year	7	511,665	624,564
		---------	---------
Net assets		40,650	7,485
		---------	---------

Capital and reserves

Called up share capital	100	100
Profit and loss account	40,550	7,385
	--------	-------
Shareholders funds	40,650	7,485
	--------	-------

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 comprehensive income has not been delivered.

For the year ending 30 September 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 .

TULIP CAPITAL LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

30 September 2017

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

Z Zivlin

Director

Company registration number: 08178370

TULIP CAPITAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 30 SEPTEMBER 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 7-12 Tavistock Square, London, WC1H 9BQ, United Kingdom.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, '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.

Transition to FRS 102

The entity transitioned from previous UK GAAP to FRS 102 as at 1 October 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 9.

Disclosure exemptions

The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. (a) Disclosures in respect of each class of share capital have not been presented. (b) No cash flow statement has been presented for the company. (c) Disclosures in respect of financial instruments have not been presented. (d) Disclosures in respect of share-based payments have not been presented. (e) No disclosure has been given for the aggregate remuneration of key management personnel.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

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.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 1 (2016: Nil).

5. Debtors

	2017	2016
	£	£
Other debtors	810	–
	----	----

6. Creditors: amounts falling due within one year

	2017	2016
	£	£
Trade creditors	4,620	4,619
Corporation tax	10,663	83,571
Social security and other taxes	778	–
Other creditors	3,473	278,041
	--------	---------
	19,534	366,231
	--------	---------

7. Creditors: amounts falling due after more than one year

	2017	2016
	£	£
Other creditors	511,665	624,564
	---------	---------

8. Directors' advances, credits and guarantees

As at the balance sheet date an amount of £810 was owing by the director to the company.

9. Transition to FRS 102

These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 October 2015.

No transitional adjustments were required in equity or profit or loss for the year.