TSA Consultants Limited 30/11/2017 iXBRL

TSA Consultants Limited 30/11/2017 iXBRL

T.S.A. CONSULTANTS LIMITED - Company Information

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Company registration number: 02993084
TSA Consultants Limited
Unaudited filleted financial statements
30 November 2017
TSA Consultants Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
TSA Consultants Limited
Directors and other information
Directors Dr Rainer Karstaedt
Mr Andrew Alcock
Secretary R Karstaedt
Company number 02993084
Registered office Roxburghe House
273 - 287 Regent Street
London W1B 2HA
Business address Wulsfdorfer Weg 89
D-22359 Hamburg
Germany
Accountants King and King Chartered Accountants
Roxburghe House
273 - 287 Regent Street
London
W1B 2HA
Bankers HSBC
69 Pall Mall
London SW1Y 5EY
TSA Consultants Limited
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of TSA Consultants Limited
Year ended 30 November 2017
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of TSA Consultants Limited for the year ended 30 November 2017 which comprise the statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/ regulations-standards-and-guidance/.
This report is made solely to the board of directors of TSA Consultants Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of TSA Consultants Limited and state those matters that we have agreed to state to the board of directors of TSA Consultants Limited as a body, in this report in accordance with the ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than TSA Consultants Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that TSA Consultants Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of TSA Consultants Limited. You consider that TSA Consultants Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of TSA Consultants Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
King and King Chartered Accountants
First Floor
Roxburghe House
273 - 287 Regent Street
London
W1B 2HA
16 August 2018
TSA Consultants Limited
Statement of financial position
30 November 2017
2017 2016
Note £ £ £ £
Current assets
Debtors 4 3,760 1,971
Cash at bank and in hand 114,736 102,019
_______ _______
118,496 103,990
Creditors: amounts falling due
within one year 5 ( 6,140) ( 3,336)
_______ _______
Net current assets 112,356 100,654
_______ _______
Total assets less current liabilities 112,356 100,654
_______ _______
Net assets 112,356 100,654
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 112,256 100,554
_______ _______
Shareholders funds 112,356 100,654
_______ _______
For the year ending 30 November 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.
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.
These financial statements were approved by the board of directors and authorised for issue on 16 August 2018 , and are signed on behalf of the board by:
Dr Rainer Karstaedt
Director
Company registration number: 02993084
TSA Consultants Limited
Statement of changes in equity
Year ended 30 November 2017
Called up share capital Profit and loss account Total
£ £ £
At 1 December 2015 100 108,437 108,537
Profit/(loss) for the year ( 7,883) ( 7,883)
_______ _______ _______
Total comprehensive income for the year - ( 7,883) ( 7,883)
_______ _______ _______
At 30 November 2016 and 1 December 2016 100 100,554 100,654
Profit/(loss) for the year 11,702 11,702
_______ _______ _______
Total comprehensive income for the year - 11,702 11,702
_______ _______ _______
At 30 November 2017 100 112,256 112,356
_______ _______ _______
TSA Consultants Limited
Notes to the financial statements
Year ended 30 November 2017
1. General information
The company is a private company limited by shares, registered in United Kingdom. The address of the registered office is Roxburghe House, 273 - 287 Regent Street, London W1B 2HA.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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 December 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 8.
Turnover
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.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Debtors
2017 2016
£ £
Trade debtors 3,760 -
Other debtors - 1,971
_______ _______
3,760 1,971
_______ _______
5. Creditors: amounts falling due within one year
2017 2016
£ £
Corporation tax 2,804 -
Other creditors 3,336 3,336
_______ _______
6,140 3,336
_______ _______
6. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2017
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Dr Rainer Karstaedt ( 2,756) 20 ( 2,736)
_______ _______ _______
2016
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Dr Rainer Karstaedt ( 3,944) 1,188 ( 2,756)
_______ _______ _______
7. Controlling party
The company was under the control of Dr R Karstaedt throughout the year. Dr R Karstaedt is the managing director and majority shareholder.
8. Transition to FRS 102
These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 December 2015.
Reconciliation of equity
No transitional adjustments were required.
Reconciliation of profit or loss for the year
No transitional adjustments were required.