Totservices UK Limited
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Notes to the Accounts |
for the year ended 31 December 2014
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1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
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Turnover |
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Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
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Going concern |
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The accounts are prepared on a going concern basis. The company relies on the continued support of its shareholders to meet its day to day financial requirements. |
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Foreign currencies |
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Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account. |
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2 |
Interest receivable and similar income |
2014 |
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2013 |
€ |
€ |
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Gain on foreign exchange |
993 |
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289 |
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3 |
Taxation |
2014 |
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2013 |
€ |
€ |
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UK corporation tax |
(1,916) |
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8,948 |
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4 |
Debtors |
2014 |
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2013 |
€ |
€ |
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Trade debtors |
25,000 |
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- |
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Other debtors |
3,727 |
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3,727 |
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28,727 |
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3,727 |
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5 |
Creditors: amounts falling due within one year |
2014 |
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2013 |
€ |
€ |
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Trade creditors |
8,193 |
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4,218 |
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Corporation tax |
7,032 |
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8,948 |
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15,225 |
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13,166 |
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6 |
Share capital |
Nominal |
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2014 |
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2014 |
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2013 |
value |
Number |
€ |
€ |
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Allotted, called up and fully paid: |
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Ordinary shares
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£1 each |
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100 |
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100 |
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100 |
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7 |
Profit and loss account |
2014 |
€ |
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At 1 January 2014 |
31,000 |
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Loss for the year |
(6,362) |
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At 31 December 2014 |
24,638 |
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8 |
Ultimate controlling party |
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The Director is aware of the identity of the ultimate controlling party. However he is under a duty of confidentiality that prevents him from disclosing certain information required by Financial Reporting Standard 8. Therefore he has taken the exemption offered by the Standard in respect of confidentiality.
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