Abbreviated Company Accounts - TRINITEQ SERVICE & SUPPLIES LIMITED
Abbreviated Company Accounts - TRINITEQ SERVICE & SUPPLIES LIMITED
Registered Number 02121282
TRINITEQ SERVICE & SUPPLIES LIMITED
Abbreviated Accounts
30 June 2014
TRINITEQ SERVICE & SUPPLIES LIMITED Registered Number 02121282
Abbreviated Balance Sheet as at 30 June 2014
Notes | 2014 | 2013 | |
---|---|---|---|
£ | £ | ||
Fixed assets | |||
Tangible assets | 2 |
|
|
|
|||
Current assets | |||
Stocks |
|
|
|
Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: amounts falling due within one year |
( |
( |
|
Net current assets (liabilities) |
|
( |
|
Total assets less current liabilities |
|
|
|
Creditors: amounts falling due after more than one year |
( |
( |
|
Total net assets (liabilities) |
|
( |
|
Capital and reserves | |||
Called up share capital | 3 |
|
|
Profit and loss account |
|
( |
|
Shareholders' funds |
|
( |
For the year ending 30 June 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
Approved by the Board on
And signed on their behalf by:
TRINITEQ SERVICE & SUPPLIES LIMITED Registered Number 02121282
Notes to the Abbreviated Accounts for the period ended 30 June 2014
1Accounting Policies
Other accounting policies
The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
Turnover
Turnover in the accounts is derived from the sale of computer linked cash registers on an invoice basis; and the maintenance of the computer linked cash registers which is accounted for on an accruals basis. All sales are shown exclusive of Value Added Tax.
Fixed assets
All fixed assets are initially recorded at cost.
Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Plant and machinery - 15% Straight line
Fixtures, fittings and equipment - 15% Straight line
Motor vehicles - 25% Straight line
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Hire purchase agreements
Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest is charged to the profit and loss account on a straight line basis.
Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.
Pension costs
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.
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 the transaction. Exchange differences are taken into account in arriving at the operating profit.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.
Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
£ | |
---|---|
Cost | |
At 1 July 2013 |
|
Additions |
|
Disposals |
( |
Revaluations |
|
Transfers |
|
At 30 June 2014 |
|
Depreciation | |
At 1 July 2013 |
|
Charge for the year |
|
On disposals |
( |
At 30 June 2014 |
|
Net book values | |
At 30 June 2014 | 41,022 |
At 30 June 2013 | 23,007 |
4Transactions with directors
Name of director receiving advance or credit: | ||
---|---|---|
Description of the transaction: | ||
Balance at 1 July 2013: | £ |
|
Advances or credits made: | £ |
|
Advances or credits repaid: | £ |
|
Balance at 30 June 2014: | £ |