Registered Number 08641814
TURNKEY I.T. SOLUTIONS LTD
Abbreviated Accounts
31 August 2016
Notes | 2016 | 2015 | |
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£ | £ | ||
Fixed assets | |||
Tangible assets | 2 |
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Current assets | |||
Debtors |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
( |
( |
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Net current assets (liabilities) |
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Total assets less current liabilities |
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Total net assets (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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Approved by the Board on
And signed on their behalf by:
1 Accounting Policies
Basis of measurement and preparation of accounts
have been prepared under the historical cost convention and in accordance with the
Financial Reporting Standard for Smaller Entities (Effective January 2015).
Turnover policy
goods and services to customers.
Tangible assets depreciation policy
any estimated residual value, over their expected useful economic life as follows:
Asset class Depreciation method and rate
Office Equipment 25% Reducing Balance
Other accounting policies
Rentals payable under operating leases are charged in the profit and loss account on a
straight line basis over the lease term.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the
contractual arrangement, as financial assets, financial liabilities or equity instruments. An
equity instrument is any contract that evidences a residual interest in the assets of the
company after deducting all of its liabilities. Where shares are issued, any component that
creates a financial liability of the company is presented as a liability in the balance sheet.
The corresponding dividends relating to the liability component are charged as interest
expense in the profit and loss account.
£ | |
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Cost | |
At 1 September 2015 |
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Additions |
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Disposals |
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Revaluations |
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Transfers |
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At 31 August 2016 |
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Depreciation | |
At 1 September 2015 |
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Charge for the year |
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On disposals |
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At 31 August 2016 |
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Net book values | |
At 31 August 2016 | 3,862 |
At 31 August 2015 | 4,746 |