Company Registration No. 07914626 (England and Wales)
TOUREAN LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
PAGES FOR FILING WITH REGISTRAR
TOUREAN LIMITED
COMPANY INFORMATION
Director
Jacob Cruz
Company number
07914626
Registered office
4th Floor, East Wing, Chancery House
53-64 Chancery Lane
London
WC2A 1QS
Accountants
CC Young & Co Limited
4th Floor, East Wing, Chancery House
53-64 Chancery Lane
London
WC2A 1QS
TOUREAN LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
TOUREAN LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2017
31 December 2017
- 1 -
2017
2016
Notes
£
£
£
£
Current assets
Cash at bank and in hand
23
623
Creditors: amounts falling due within one year
2
(342,146)
(342,746)
Net current liabilities
(342,123)
(342,123)
Capital and reserves
Called up share capital
3
1
1
Profit and loss reserves
(342,124)
(342,124)
Total equity
(342,123)
(342,123)
The director of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 December 2017 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.
T
he director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and signed by the director and authorised for issue on 20 April 2018
Jacob Cruz
Director
Company Registration No. 07914626
TOUREAN LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
- 2 -
1
Accounting policies
Company information
Tourean Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
4th Floor, East Wing, Chancery House, 53-64 Chancery Lane, London, WC2A 1QS.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Profit and loss account
The company has not traded during the year or the preceding financial
period
. During
this time
the company received no income and incurred no expenditure and therefore no Profit and loss account is presented
in these financial statements.
1.3
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset
, with
the net amounts presented in the financial statements
,
when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include cash and bank balances, are measured at transaction price including transaction costs
less impairment.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, are recognised at
transaction cost.
Trade creditors
are obligations to pay for goods or services that have been acquired
in the ordinary course of business from suppliers. A
m
ounts payable are classified as
current liabilities
as
payment is due within one year or less.
TOUREAN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2017
1
Accounting policies
(Continued)
- 3 -
1.4
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
2
Creditors: amounts falling due within one year
2017
2016
£
£
Trade creditors
-
240
Other creditors
342,146
342,506
342,146
342,746
3
Called up share capital
2017
2016
£
£
Ordinary share capital
Issued and fully paid
1 Ordinary share of £1 each
1
1
1
1
4
Related party transactions
At 31 December 2017 the company owed the director £228,490 (2016: £228,850).
The director of Tourean Limited is also sole director and shareholder of Tourean Live Limited. At 31 December 2017 Tourean Limited owed Tourean Live Limited £112,906 (2016: £112,906).
No interest has been charged on the above loans.
5
Control
The company is controlled by the director.