Company Registration No. 03091623 (England and Wales)
TEC TRANSNATIONAL LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2014
TEC TRANSNATIONAL LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
TEC TRANSNATIONAL LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 DECEMBER 2014
31 December 2014
- 1 -
2014
2013
Notes
£
£
£
£
Fixed assets
Tangible assets
2
3,213
5,299
Current assets
Debtors
72,621
64,654
Cash at bank and in hand
105,606
47,208
178,227
111,862
Creditors: amounts falling due within one year
(142,492)
(97,559)
Net current assets
35,735
14,303
Total assets less current liabilities
38,948
19,602
Provisions for liabilities
(349)
(702)
38,599
18,900
Capital and reserves
Called up share capital
3
4
4
Profit and loss account
38,595
18,896
Shareholders' funds
38,599
18,900
For the financial year ended 31 December 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 25 February 2015
Dr D Scrimshire
Mrs S Scrimshire
Director
Director
Company Registration No. 03091623
TEC TRANSNATIONAL LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2014
- 2 -
1
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).
The company has taken advantage of the exemption in Financial Reporting Standard No 1 from the requirement to produce a cash flow statement on the grounds that it is a small company.
1.2
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.3
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:
Fixtures, fittings & equipment
25% straight line
1.4
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.
2
Fixed assets
Tangible assets
£
Cost
At 1 January 2014
14,372
Additions
522
Disposals
(2,699)
At 31 December 2014
12,195
Depreciation
At 1 January 2014
9,074
On disposals
(2,699)
Charge for the year
2,607
At 31 December 2014
8,982
Net book value
At 31 December 2014
3,213
At 31 December 2013
5,299
TEC TRANSNATIONAL LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2014
- 3 -
3
Share capital
2014
2013
£
£
Allotted, called up and fully paid
4 Ordinary shares of £1 each
4
4
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