Tech.Box Management Ltd
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Notes to the Accounts |
for the year ended 30 September 2016
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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 FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
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Turnover |
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Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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Going Concern |
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The financial statements have been prepared on the going concern basis. The company is reliant on the continuing support of its creditors. If their support were to be withdrawn, the company would be unable to continue in operational existence. Adjustments would have to be made to reduce the balance sheet values of the assets to their recoverable amounts and to provide for further liabilities which may arise. The director is unable to to quantify the effects of such adjustments on the financial statements, however, he believes this basis is appropriate.
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2 |
Debtors |
2016 |
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2015 |
£ |
£ |
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Trade debtors |
- |
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5,027 |
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Other debtors |
- |
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4,000 |
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- |
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9,027 |
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3 |
Creditors: amounts falling due within one year |
2016 |
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2015 |
£ |
£ |
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Trade creditors |
- |
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37 |
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Corporation tax |
7,135 |
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4,982 |
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Other taxes and social security costs |
1,658 |
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2,108 |
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Other creditors |
3,571 |
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13,169 |
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12,364 |
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20,296 |
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4 |
Other information |
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Tech.Box Management Ltd is a private company limited by shares and incorporated in England. |