Company Registration No. 09132625 (England and Wales)
Tyjara Commodities Limited
Annual report and unaudited accounts
for the year ended 31 December 2016
Tyjara Commodities Limited
Annual report and unaudited accounts
Contents
Tyjara Commodities Limited
Company Information
for the year ended 31 December 2016
Directors
Andrew Onitiri
Murtala Shehu Yar'Adua
Company Number
09132625 (England and Wales)
Registered Office
LOWER PARK
COLDRIDGE
CREDITON
DEVON
EX17 6AS
ENGLAND
Accountants
Niall O'Driscoll FCMA CGMA
OD Accountants Ltd
Suite 501, The Pillbox, 115 Coventry Rd
Bethnal Green
London
E26GG
Tyjara Commodities Limited
Accountants' report
Accountants' report to the board of directors of Tyjara Commodities Limited on the preparation of the unaudited statutory accounts for the year ended 31 December 2016
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Tyjara Commodities Limited for the year ended
31 December 2016 as set out on pages
5 -
7 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Tyjara Commodities Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Tyjara Commodities Limited and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Tyjara Commodities Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Tyjara Commodities Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Tyjara Commodities Limited. You consider that Tyjara Commodities Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Tyjara Commodities Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Niall O'Driscoll FCMA CGMA
OD Accountants Ltd
Suite 501, The Pillbox, 115 Coventry Rd
Bethnal Green
London
E26GG
27 March 2017
Tyjara Commodities Limited
Statement of financial position
as at
31 December 2016
Cash at bank and in hand
29,748
898,813
Creditors: amounts falling due within one year
(940,865)
(1,571,592)
Net current liabilities
(119,092)
(892)
Net liabilities
(119,092)
(892)
Called up share capital
1,000
1,000
Profit and loss account
(120,092)
(1,892)
Shareholders' funds
(119,092)
(892)
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared 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.
Approved by the Board on 29 March 2017.
Andrew Onitiri
Director
Company Registration No. 09132625
Tyjara Commodities Limited
Notes to the Accounts
for the year ended 31 December 2016
Tyjara Commodities Limited is a private company, limited by shares, registered in England and Wales, registration number 09132625. The registered office and principal place of business is LOWER PARK, COLDRIDGE, CREDITON, DEVON, EX17 6AS, ENGLAND.
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 December 2016 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 January 2016.
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.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Despite being owed US$977,104 (2015 US$944,012) by its major client and owes US$1,070,017 (US$2,177,352) to a supplier the accounts have been prepared the on an on-going concern basis.
Trade debtors
791,690
671,222
Amounts due after more than one year
791,690
671,222
Tyjara Commodities Limited
Notes to the Accounts
for the year ended 31 December 2016
5
Creditors: amounts falling due within one year
2016
2015
Other creditors
866,973
1,516,580
The company has three loans outstanding with the same company. Interest is being charged at 10% pa on these loans.
6
Share capital
2016
2015
Allotted, called up and fully paid:
1,000 Ordinary shares of £1 each
1,000
1,000
The company is owed US$977,104 (2015 US$944,012) by its major client. Tyjara Commodities Ltd have a charge over a property in the Republic of Ireland for US$360,000 that is being pursued in the Irish courts. Tyjara Commodities Limited are also party to legal proceedings in Nigeria to recover the balance of the money owed.
8
Average number of employees
During the year the average number of employees was 0 (2015: 0).