Year Ended
Typocolor Designs Limited
Balance Sheet
31 December 2016
Registration Number:
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2016 |
2015 |
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Current assets |
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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 assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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For the financial year ending 31 December 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
.........................................
J R Hare
Director
Typocolor Designs Limited
Notes to the Financial Statements
Year Ended 31 December 2016
General information |
The company is a private company limited by share capital incorporated in England.
The address of its registered office is:
England
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention.
Summary of disclosure exemptions
The financial statements do not include a Statement of Comprehensive Income, a Statement of Changes in Equity or a Statement of Cash Flows because the company, as a small reporting entity, is exempt from the requirements to prepare such statements..
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits.
Typocolor Designs Limited
Notes to the Financial Statements
Year Ended 31 December 2016
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Share capital
Ordinary shares are classified as equity.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Debtors |
2016 |
2015 |
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Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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Total current trade and other debtors |
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Creditors |
2016 |
2015 |
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Due within one year |
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Trade creditors |
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Corporation tax |
22,504 |
6,772 |
Taxation and social security |
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Other creditors |
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Parent and ultimate parent undertaking |
The company's immediate parent is
The ultimate controlling party is
Typocolor Designs Limited
Notes to the Financial Statements
Year Ended 31 December 2016
Transition to FRS 102 |
As stated in note 2, these are the Company's first financial statements prepared in accordance with FRS 102.
The accounting policies set out in the notes have been applied in preparing the financial statements for the year ended 31 December 2016 and the comparative information presented in these financial statements for the year ended 31 December 2015.
In preparing its FRS 102 financial statements, there has been no impact on equity or profit and loss.