Registered Number 04523600
TARGET LONDON LIMITED
Abbreviated Accounts
30 September 2014
Notes | 2014 | 2013 | |
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Fixed assets | |||
Tangible assets | 2 |
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Current assets | |||
Cash at bank and in hand |
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Creditors: amounts falling due within one year | 3 |
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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 | 4 |
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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
Basis of preparation and change in accounting policy
The financial statements are prepared under the historical cost convention.
Going Concern
After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For these reasons, the directors continue to adopt the going concern basis in preparing these financial statements.
Turnover
Turnover represents net invoiced sales of goods, excluding value added tax
Tangible fixed assets and depreciation
Tangible assets are depreciated by equal annual instalments over their estimated useful lives. The rates used are as follows:
Freehold, Long leasehold land & buildings - 25%
Plant and machinery - 25%
Fixtures, fittings and office equipment - 25%
Motor vehicles - 25%
The carrying values of tangible fixed assets are reviewed for impairment in periods where events or changes in circumstances indicate the carrying values may not be recoverable.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more, tax, with the following exceptions:
• provision is made for tax on gains arising from the revaluation (and similar fair value adjustments) of fixed assets, and gains on disposal of fixed assets that have been rolled over into replacement assets, only to the extent that, at the balance sheet date, there is a binding agreement to dispose of the assets concerned. However, no provision is made where, on the basis of all available evidence at the balance sheet date, it is more likely than not that the taxable gain will be rolled over into replacement assets and charged to tax only where the replacement assets are sold;
• deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
Turnover policy
Tangible assets depreciation policy
Fixtures and fittings Total
Cost : £ £
At 30 September 2013 2,918 2,918
Additions - -
Disposals - -
—————— ——————
At 30 September 2014 2,918 2,918
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Depreciation:
At 30 September 2013 2,783 2,783
Charge for the year 135 135
Eliminated on disposal - -
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At 30 September 2014 2,918 2,783
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Net Book Value:
At 30 September 2014 - -
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At 30 September 2013 135 135
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Other accounting policies
During the year the company entered into the following transactions:
(a) Purchase of goods by Mr S Hodson, on behalf of the company, of £367 (2013: £367).
Mr S Hodson is a major shareholder.
The company owed Mr S Hodson as at 30 September 2014 £3,337 (2013: £2,972).
ULTIMATE CONTROLLING PARTY
The company is controlled by its shareholders. No individual shareholder owns more than 50% of the issued share capital.
£ | |
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Cost | |
At 1 October 2013 |
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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 30 September 2014 |
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Depreciation | |
At 1 October 2013 |
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Charge for the year |
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On disposals |
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At 30 September 2014 |
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Net book values | |
At 30 September 2014 | 0 |
At 30 September 2013 | 135 |
Freehold, Long leasehold land & buildings - 25%
Plant and machinery - 25%
Fixtures, fittings and office equipment - 25%
Motor vehicles - 25%
The carrying values of tangible fixed assets are reviewed for impairment in periods where events or changes in circumstances indicate the carrying values may not be recoverable.
2014
£ |
2013
£ |
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Secured Debts |
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