The Limit Ted Company Limited
Statement of financial position
as at
31 August 2017
Tangible assets
404,845
405,748
Cash at bank and in hand
947
-
Creditors: amounts falling due within one year
(113,355)
(110,922)
Net current liabilities
(112,408)
(110,922)
Total assets less current liabilities
292,437
294,826
Creditors: amounts falling due after more than one year
(338,025)
(342,607)
Provisions for liabilities
Deferred tax
(2,968)
(3,149)
Net liabilities
(48,556)
(50,930)
Called up share capital
100
100
Profit and loss account
(48,656)
(51,030)
Shareholders' funds
(48,556)
(50,930)
For the year ending 31 August 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 16 May 2018.
L Gough
Director
Company Registration No. 06683143
The Limit Ted Company Limited
Notes to the Accounts
for the year ended 31 August 2017
The Limit Ted Company Limited is a private company, limited by shares, registered in England and Wales, registration number 06683143. The registered office is THE CORNER HOUSE, 23 MARKET STREET, CRAVEN ARMS, SHROPSHIRE, SY7 9NW.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended 31 August 2017 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 September 2015.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
5% per annum reducing balance on improvements
Motor vehicles
25% per annum reducing balance
Fixtures & fittings
25% per annum reducing balance
4
Tangible fixed assets
Land & buildings
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 September 2016
409,517
1,000
4,269
414,786
At 31 August 2017
409,517
1,000
4,269
414,786
At 1 September 2016
4,348
822
3,868
9,038
Charge for the year
758
45
100
903
At 31 August 2017
5,106
867
3,968
9,941
At 31 August 2017
404,411
133
301
404,845
At 31 August 2016
405,169
178
401
405,748
The Limit Ted Company Limited
Notes to the Accounts
for the year ended 31 August 2017
5
Creditors: amounts falling due within one year
2017
2016
Bank loans and overdrafts
5,006
5,821
Other creditors
107,515
104,380
6
Creditors: amounts falling due after more than one year
2017
2016
Bank loans
338,025
342,607
7
Average number of employees
During the year the average number of employees was 0 (2016: 0).