Talon Direct Limited - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: 04680966 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 30 April 2014

for

Talon Direct Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

Mrs S T Hoy

SECRETARY:

Mrs S T Hoy

REGISTERED OFFICE:

Units 1 - 3

16A Morris Avenue

Manor Park

London

E12 6EW

REGISTERED NUMBER:

04680966 (England and Wales)

ACCOUNTANTS:

Douglas Colmer & Co

Orwell Lodge

13 Lesney Park Road

Erith

Kent

DA8 3DQ

FIXED ASSETS

Intangible assets

2

-

-

Tangible assets

3

10,848

19,100

10,848

19,100

CURRENT ASSETS

Stocks

77,134

53,254

Debtors

53,722

67,908

130,856

121,162

CREDITORS

Amounts falling due within one year

4

154,934

161,297

NET CURRENT LIABILITIES

(24,078

)

(40,135

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(13,230

)

(21,035

)

PROVISIONS FOR LIABILITIES

1,291

-

NET LIABILITIES

(14,521

)

(21,035

)

CAPITAL AND RESERVES

Called up share capital

5

1

1

Profit and loss account

(14,522

)

(21,036

)

SHAREHOLDERS' FUNDS

(14,521

)

(21,035

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2014 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 12 January 2015 and were signed by:

Mrs S T Hoy - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention and on a going concern basis

as the company continues to be supported by the director and controlling shareholder who has provided

indemnities and assurances to the company bankers.

Accounting convention

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 represents net invoiced sales of goods, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

25% on reducing balance

Stocks

Stocks are valued 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 balance

sheet date.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those

held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance

leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 May 2013

and 30 April 2014

100,000

AMORTISATION

At 1 May 2013

and 30 April 2014

100,000

NET BOOK VALUE

At 30 April 2014

-

At 30 April 2013

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 May 2013

80,968

Disposals

(17,883

)

At 30 April 2014

63,085

DEPRECIATION

At 1 May 2013

61,868

Charge for year

3,617

Eliminated on disposal

(13,248

)

At 30 April 2014

52,237

NET BOOK VALUE

At 30 April 2014

10,848

At 30 April 2013

19,100

4.

CREDITORS

Creditors include an amount of £ 26,271 (30.4.13 - £ 55,366 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.4.14

30.4.13

value:

£

£

1

Ordinary

1

1

1

6.	RELATED PARTY DISCLOSURES