Registered Number 02771944

TITAN FISHING PRODUCTS LIMITED

Abbreviated Accounts

31 December 2014

TITAN FISHING PRODUCTS LIMITED Registered Number 02771944

Abbreviated Balance Sheet as at 31 December 2014

Notes 2014 2013
£ £
Current assets
Stocks 4,136 5,098
Cash at bank and in hand 1,676 2,724
5,812 7,822
Creditors: amounts falling due within one year (42,786 ) (23,851 )
Net current assets (liabilities) (36,974 ) (16,029 )
Total assets less current liabilities (36,974 ) (16,029 )
Total net assets (liabilities) (36,974 ) (16,029 )
Capital and reserves
Called up share capital 100 100
Profit and loss account (37,074 ) (16,129 )
Shareholders' funds (36,974 ) (16,029 )

  • For the year ending 31 December 2014 the company was entitled to exemption 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.

Approved by the Board on 4 September 2015

And signed on their behalf by:
Allan Lund, Director

TITAN FISHING PRODUCTS LIMITED Registered Number 02771944

Notes to the Abbreviated Accounts for the period ended 31 December 2014

1 Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover policy
Turnover represents the value, net of value added tax and discounts, of goods provided to customers.

Tangible assets depreciation policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Plant and machinery 15% straight line

Other accounting policies
Stocks
Stock is valued at the lower of cost and net realisable value.

Deferred taxation
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.

Pensions
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.