Company Registration No. 09658762 (England and Wales)
TREES R US LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2018
PAGES FOR FILING WITH REGISTRAR
TREES R US LIMITED
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 4
TREES R US LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
30 JUNE 2018
30 June 2018
- 1 -
2018
2017
Notes
£
£
£
£
Fixed assets
Tangible assets
3
15,229
16,484
Current assets
Debtors
4
4,653
2,115
Cash at bank and in hand
3,404
3,022
8,057
5,137
Creditors: amounts falling due within one year
5
(18,915)
(29,276)
Net current liabilities
(10,858)
(24,139)
Total assets less current liabilities
4,371
(7,655)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
4,271
(7,755)
Total equity
4,371
(7,655)
The directors of the company have elected not to include a copy of the income statement within the financial statements.
true
For the financial year ended 30 June 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 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 by the board of directors and authorised for issue on 20 March 2019 and are signed on its behalf by:
T Giblin Esq.
Director
Company Registration No. 09658762
TREES R US LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2018
- 2 -
1
Accounting policies
Company information
Trees R Us Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
103 Meehan Road, Greatstone, New Romney, Kent, TN28 8NZ.
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, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business
, and
is shown net of VAT and other sales related taxes
.
The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
1.3
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
25% reducing balance basis
Motor vehicles
25% reducing balance basis
1.4
Cash at bank and in hand
Cash at bank and in hand
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
TREES R US LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2018
- 3 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 2 (2017 - 2).
3
Tangible fixed assets
Plant and equipment
Motor vehicles
Total
£
£
£
Cost
At 1 July 2017
17,740
11,566
29,306
Additions
3,115
-
3,115
At 30 June 2018
20,855
11,566
32,421
Depreciation and impairment
At 1 July 2017
7,761
5,060
12,821
Depreciation charged in the year
2,745
1,626
4,371
At 30 June 2018
10,506
6,686
17,192
Carrying amount
At 30 June 2018
10,349
4,880
15,229
At 30 June 2017
9,979
6,505
16,484
4
Debtors
2018
2017
Amounts falling due within one year:
£
£
Trade debtors
3,815
921
Other debtors
838
1,194
4,653
2,115
5
Creditors: amounts falling due within one year
2018
2017
£
£
Trade creditors
-
184
Corporation tax
3,115
1,247
Other taxation and social security
2,572
1,000
Other creditors
13,228
26,845
18,915
29,276
TREES R US LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2018
- 4 -
6
Directors' transactions
Description
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
K Giblin Esq.
(12,222)
13,920
(7,112)
(5,414)
T Giblin Esq.
(12,222)
13,920
(7,112)
(5,414)
(24,444)
27,840
(14,224)
(10,828)