REGISTERED NUMBER:
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Abbreviated Unaudited Accounts |
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for the Year Ended 31 March 2015 |
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for |
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I.T.A.S. Limited |
REGISTERED NUMBER:
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Abbreviated Unaudited Accounts |
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for the Year Ended 31 March 2015 |
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for |
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I.T.A.S. Limited |
I.T.A.S. Limited (Registered number: 02235472) |
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Contents of the Abbreviated Accounts |
for the year ended 31 March 2015 |
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Page |
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Company Information | 1 |
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Abbreviated Balance Sheet | 2 |
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Notes to the Abbreviated Accounts | 3 |
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Chartered Accountants' Report | 5 |
I.T.A.S. Limited |
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Company Information |
for the year ended 31 March 2015 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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I.T.A.S. Limited (Registered number: 02235472) |
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Abbreviated Balance Sheet |
31 March 2015 |
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2015 | 2014 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 2 |
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CURRENT ASSETS |
Stocks |
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Debtors |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT (LIABILITIES)/ASSETS | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
( |
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CAPITAL AND RESERVES |
Called up share capital | 3 |
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Profit and loss account | ( |
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SHAREHOLDERS' FUNDS | ( |
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The directors acknowledge their 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. |
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The financial statements were approved by the Board of Directors on
by: |
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I.T.A.S. Limited (Registered number: 02235472) |
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Notes to the Abbreviated Accounts |
for the year ended 31 March 2015 |
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1. | ACCOUNTING POLICIES |
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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). |
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Turnover |
Turnover represents profit received from the forestry investments, which is the difference between the cost of the |
forestry investment and the sale price received for the forestry investment, and income derived from management |
consultancy advice. |
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Tangible fixed assets |
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Computer equipment | - 33% on cost |
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Land held under long leasehold is not depreciated. |
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Stocks |
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance |
for obsolete and slow moving items. |
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Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at |
the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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Going concern |
As At the year end date the shareholders have confirmed that they will continue to support the Company. This |
should enable to Company to continue operational existence for the foreseeable future. |
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On this basis, it is considered appropriate to prepare the financial statements on a going concern basis. |
I.T.A.S. Limited (Registered number: 02235472) |
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Notes to the Abbreviated Accounts - continued |
for the year ended 31 March 2015 |
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2. | TANGIBLE FIXED ASSETS |
Total |
£ |
COST |
At 1 April 2014 |
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Disposals | ( |
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At 31 March 2015 |
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DEPRECIATION |
At 1 April 2014 |
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Charge for year |
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Eliminated on disposal | ( |
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At 31 March 2015 |
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NET BOOK VALUE |
At 31 March 2015 |
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At 31 March 2014 |
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3. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2015 | 2014 |
value: | £ | £ |
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Ordinary | £1 |
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Chartered Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
I.T.A.S. Limited |
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The following reproduces the text of the report prepared for the directors in respect of the company's annual |
unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to four) |
have been prepared. |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
financial statements of I.T.A.S. Limited for the year ended 31 March 2015 which comprise the Profit and Loss Account, |
the Balance Sheet, the Cash Flow Statement, the Statement of Total Recognised Gains and Losses and the related notes |
from the company's accounting records and from information and explanations you have given us. |
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As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook. |
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This report is made solely to the Board of Directors of I.T.A.S. Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of I.T.A.S. Limited and state those matters that we have agreed to state to the Board of Directors of I.T.A.S. Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report. |
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It is your duty to ensure that I.T.A.S. 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 loss of I.T.A.S. Limited. You consider that I.T.A.S. Limited is exempt from the statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the financial statements of I.T.A.S. 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. |
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24 December 2015 |