Tangible Memories Ltd,Ltd - AccountsLtd - Accounts

Tangible Memories Ltd,Ltd - AccountsLtd - Accounts

TANGIBLE MEMORIES LTD - Company Information

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2017-01-01 07855161 2017-12-31 07855161 2017-01-01 2017-12-31 07855161 2016-12-31 07855161 2016-01-01 2016-12-31 07855161 uk-core:WithinOneYear 2016-12-31 07855161 uk-core:WithinOneYear 2017-12-31 07855161 uk-core:AfterOneYear 2016-12-31 07855161 uk-core:AfterOneYear 2017-12-31 07855161 uk-core:ShareCapital 2017-12-31 07855161 uk-core:ShareCapital 2016-12-31 07855161 uk-core:RetainedEarningsAccumulatedLosses 2017-12-31 07855161 uk-core:RetainedEarningsAccumulatedLosses 2016-12-31 07855161 uk-bus:Director1 2017-01-01 2017-12-31 07855161 uk-core:ComputerEquipment 2017-01-01 2017-12-31 07855161 uk-core:FurnitureFittings 2017-01-01 2017-12-31 07855161 uk-core:ComputerEquipment 2016-12-31 07855161 uk-core:FurnitureFittings 2016-12-31 07855161 uk-core:FurnitureFittings 2017-12-31 07855161 uk-core:ComputerEquipment 2017-12-31 iso4217:GBP 07855161 uk-bus:AuditExemptWithAccountantsReport 2017-01-01 2017-12-31 07855161 uk-bus:FRS102 2017-01-01 2017-12-31 07855161 uk-bus:FullAccounts 2017-01-01 2017-12-31 07855161 uk-bus:PrivateLimitedCompanyLtd 2017-01-01 2017-12-31
Tangible Memories Ltd
Registered Number:07855161
For the year ended 31 December 2017
England and Wales
Unaudited Financial Statements
2
For the year ended 31 December 2017
Tangible Memories Ltd
Contents Page
1
Statement of Financial Position
2 to 4
Notes to the Financial Statements
3
As at 31 December 2017
Tangible Memories Ltd
Statement of Financial Position
Registered Number :
07855161
£
£
2016
2017
Notes
Current assets
Inventories
9,694
9,694
3
Trade and other receivables
97
1,700
4
210
Cash and cash equivalents
69
11,463
10,001
Trade and other payables: amounts falling due within one
year
(4,354)
(5,223)
5
5,647
6,240
Net current assets
Total assets less current liabilities
6,240
5,647
Trade and other payables: amounts falling due after more
than one year
(33,079)
(33,079)
6
(26,839)
Net liabilities
(27,432)
Capital and reserves
Called up share capital
100
100
Retained earnings
(26,939)
(27,532)
(26,839)
(27,432)
Shareholders' funds
For the year ended 31 December 2017 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2017 in accordance with Section 476 of the Companies Act 2006
The director acknowledges her responsibilities for:a) ensuring that the company keeps proper 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 Section
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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Miss Katheryn Hodgkinson Director
These financial statements were approved and authorised for issue by the Board on 28 September 2018 and were signed by:
The notes form part of these financial statements
1 of 4
4
For the year ended 31 December 2017
Tangible Memories Ltd
Notes to the Financial Statements
Statutory Information
Tangible Memories Ltd is a private limited company, limited by shares, domiciled in England and Wales, registration
number 07855161.
Registered address:
Shutters
Leigh Place
Cobham
Surrey
KT11 2HL
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A 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 costs convention as
modified by the revaluation of certain assets.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax or other similar sales taxes.
Property, plant and equipment
Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
33% Reducing balance
Computer Equipment
20% Straight line
Furniture and Fittings
Inventories
Inventories are value at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.
Going concern
Although the balance sheet is negative, the directors have indicated their intention to support the company for the
foreseeable future, a period not expected to be less than one year.
2 of 4
5
For the year ended 31 December 2017
Tangible Memories Ltd
Notes to the Financial Statements Continued
2. Property, plant and equipment
Total
Computer
Equipment
Furniture and
Fittings
£
£
£
Cost or
valuation
At 01 January 2017
6,141
5,551
590
At 31 December 2017
590
5,551
6,141
Provision for depreciation and impairment
At 01 January 2017
6,141
5,551
590
At 31 December 2017
6,141
5,551
590
At 31 December 2017
Net book value
-
-
-
At 31 December 2016
-
-
-
3. Inventories
2016
2017
£
£
Stocks
9,694
9,694
4. Trade and other receivables
2016
2017
£
£
Trade debtors
1,700
-
Prepayments and accrued income
-
97
97
1,700
5. Trade and other payables: amounts falling due within one year
2016
2017
£
£
Trade creditors
826
942
Accruals and deferred income
300
300
Directors' loan accounts
4,097
3,112
5,223
4,354
3 of 4
6
For the year ended 31 December 2017
Tangible Memories Ltd
Notes to the Financial Statements Continued
6. Trade and other payables: amounts falling due after more than one year
2016
2017
£
£
Other creditors
33,079
33,079
7. Related party transactions
At the balance sheet date, the company owed to director K Hodgkinson is £985 (2016 : £3,112).
At the balance sheet date, the loan owed to D Hodgkinson (the director's father) was £26,078.63 and a loan owed to
Hirslanden Corniche Ltd ( a company owned by the director's father) of £7,000.
4 of 4