TEFL_PROFESSIONAL_NETWORK - Accounts

TEFL PROFESSIONAL NETWORK LTD - Company Information

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Company Registration No. 03354749 (England and Wales)

TEFL PROFESSIONAL NETWORK LTD

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 APRIL 2014

TEFL PROFESSIONAL NETWORK LTD

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

TEFL PROFESSIONAL NETWORK LTD

ABBREVIATED BALANCE SHEET

AS AT

30 APRIL 2014

- 1 -

2014

2013

Notes

Fixed assets

Tangible assets

8,077

8,872

Current assets

Debtors

99,700

24,838

Cash at bank and in hand

457,289

353,711

556,989

378,549

Creditors: amounts falling due within one year

(68,612)

(43,158)

Net current assets

488,377

335,391

Total assets less current liabilities

496,454

344,263

Capital and reserves

Called up share capital

Profit and loss account

496,452

344,261

Shareholders' funds

496,454

344,263

For the financial year ended 30 April 2014 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 abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 30 January 2015

V Fairley

D McDowall

Director

Company Registration No. 03354749

TEFL PROFESSIONAL NETWORK LTD

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 APRIL 2014

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Plant and machinery

25% reducing balance

Fixtures, fittings & equipment

25% reducing balance

1.5

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

Fixed assets

Tangible assets

Cost

At 1 May 2013

44,283

Additions

1,897

At 30 April 2014

46,180

Depreciation

At 1 May 2013

35,411

Charge for the year

2,692

At 30 April 2014

38,103

Net book value

At 30 April 2014

8,077

At 30 April 2013

8,872

TEFL PROFESSIONAL NETWORK LTD

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 APRIL 2014

- 3 -

Share capital

2014

2013

Allotted, called up and fully paid

2 ordinary shares of £1 each

Transactions with directors

The following directors had interest free loans during the year. The movement on these loans are as follows:

Amount outstanding

Maximum

2014

2013

in year

V Fairley

49,850

12,419

49,850

D McDowall

49,850

12,419

49,850