Company Registration No. 06038472 (England and Wales)
OUR TRAINING DEPARTMENT LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2016
OUR TRAINING DEPARTMENT LIMITED
CONTENTS
PAGE
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
OUR TRAINING DEPARTMENT LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2016
31 March 2016
- 1 -
2016
2015
Notes
£
£
£
£
FIXED ASSETS
Tangible assets
2
5,042
2,418
CURRENT ASSETS
Debtors
493,259
642,735
Cash at bank and in hand
351,810
249,913
845,069
892,648
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
(187,176)
(278,933)
NET CURRENT ASSETS
657,893
613,715
TOTAL ASSETS LESS CURRENT LIABILITIES
662,935
616,133
PROVISIONS FOR LIABILITIES
(1,000)
(500)
661,935
615,633
CAPITAL AND RESERVES
Called up share capital
3
500
500
Other reserves
500
500
Profit and loss account
660,935
614,633
SHAREHOLDERS' FUNDS
661,935
615,633
OUR TRAINING DEPARTMENT LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2016
31 March 2016
- 2 -
For the financial year ended 31 March 2016 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 16 December 2016
A Crotty
C Cummins
DIRECTOR
DIRECTOR
COMPANY REGISTRATION NO. 06038472
OUR TRAINING DEPARTMENT LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016
- 3 -
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 January 2015).
1.2
TURNOVER
Turnover represents net invoiced sale of goods, excluding value added tax, except in respect of service contracts where turnover is recognised when the company obtains the right to consideration. The turnover and profit before taxation are attributable to the one principal activity of the company. 49% of the company's turnover for the period related to exports (2015: 35%).
The turnover and profit before taxation are attributable to the one principal activity of the company.
49% of the company's turnover for the period related to exports (2015: 35%).
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:
Computer equipment
- 33.33% on cost
Fixtures, fittings & equipment
- 25% on cost
1.4
LEASING
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
1.5
PENSIONS
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.
1.6
DEFERRED TAXATION
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
1.7
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.
OUR TRAINING DEPARTMENT LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2016
- 4 -
2
FIXED ASSETS
Tangible assets
£
COST
At 1 April 2015
15,327
Additions
5,378
Disposals
(9,114)
At 31 March 2016
11,591
DEPRECIATION
At 1 April 2015
12,909
On disposals
(9,105)
Charge for the year
2,745
At 31 March 2016
6,549
NET BOOK VALUE
At 31 March 2016
5,042
At 31 March 2015
2,418
3
SHARE CAPITAL
2016
2015
£
£
ALLOTTED, CALLED UP AND FULLY PAID
500 Ordinary of £1 each
500
500