TERRA PLANA INTERNATIONAL LIMITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 JUNE 2014
Company Registration No. 03474829 (England and Wales)
SHELLEY STOCK HUTTER LLP
Chartered Accountants
1st Floor
7 - 10 Chandos Street
London
W1G 9DQ
TERRA PLANA INTERNATIONAL LIMITED
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 5
TERRA PLANA INTERNATIONAL LIMITED
ABBREVIATED BALANCE SHEET
AS AT
30 JUNE 2014
30 June 2014
- 1 -
2014
2013
as restated
Notes
£
£
£
£
Fixed assets
Tangible assets
2
38,072
40,276
Investments
2
101
102
38,173
40,378
Current assets
Stocks
966,588
315,924
Debtors
832,529
780,951
Cash at bank and in hand
147,062
144,236
1,946,179
1,241,111
Creditors: amounts falling due within one year
(1,706,645)
(2,323,066)
Net current assets/(liabilities)
239,534
(1,081,955)
Total assets less current liabilities
277,707
(1,041,577)
Creditors: amounts falling due after more than one year
(5,522,653)
(4,154,934)
Provisions for liabilities
(65,000)
(112,500)
(5,309,946)
(5,309,011)
Capital and reserves
Called up share capital
3
2,121,423
1,876,173
Share premium account
4,988,937
3,793,827
Other reserves
1,440,360
Profit and loss account
(12,420,306)
(12,419,371)
Shareholders' funds
(5,309,946)
(5,309,011)
TERRA PLANA INTERNATIONAL LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
30 JUNE 2014
30 June 2014
- 2 -
For the financial year ended 30 June 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 31 July 2015
.....................................
Mr G J D Clark
Director
Company Registration No. 03474829
TERRA PLANA INTERNATIONAL LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 JUNE 2014
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).
At the balance sheet date, the company's liabilities exceeded assets £5,339,641 (2013: £5,256,740) and the company is therefore reliant on its shareholders for continued support. The directors are confident that the shareholders have adequate resources to continue to support this company for the foreseeable future and is satisfied that the accounts have been properly prepared on a going concern basis.
1.2
Turnover
Turnover represents amounts receivable for goods net of VAT.
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
3 years straight line
Motor vehicles
5 years straight line
1.4
Investments
Fixed asset investments are stated at cost less provision for diminution in value.
1.5
Stock
Stock is valued at the lower of cost and net realisable value.
1.6
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.
TERRA PLANA INTERNATIONAL LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2014
- 4 -
2
Fixed assets
Tangible assets
Investments
Total
£
£
£
Cost
At 1 July 2013
367,377
443,993
811,370
Additions
41,549
-
41,549
Disposals
-
(443,892)
(443,892)
At 30 June 2014
408,926
101
409,027
Depreciation
At 1 July 2013
327,101
443,891
770,992
On disposals
-
(443,891)
(443,891)
Charge for the year
43,753
-
43,753
At 30 June 2014
370,854
-
370,854
Net book value
At 30 June 2014
38,072
101
38,173
At 30 June 2013
40,276
102
40,378
Holdings of more than 20%
The company holds more than 20% of the share capital of the following companies:
Company
Country of registration or
Shares held
incorporation
Class
%
Subsidiary undertakings
Vivobarefoot Limited
England & Wales
Ordinary
100.00
The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:
Capital and reserves
Profit/(loss) for the year
2014
2014
Principal activity
£
£
Vivobarefoot Limited
Footwear retailers
(1,393,234)
2
TERRA PLANA INTERNATIONAL LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2014
- 5 -
3
Share capital
2014
2013
£
£
Allotted, called up and fully paid
2,121,423 Ordinary shares of £1 each
2,121,423
1,876,173
During the year the company issued 29,250 Ordinary £1 shares for total consideration of £49,140, creating share premium of £19,890. During the year the company issued 75,000 Ordinary £1 shares for total consideration of £300,000, creating share premium of £225,000. During the year the company issued 111,000 Ordinary £1 shares for total consideration of £858,030, creating share premium of £747,030. During the year the company issued 30,000 Ordinary £1 shares for total consideration of £233,190, creating share premium of £203,190. All share capital issued during the year was fully subscribed and paid for in full.
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