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TOUGH DEBT SOLUTIONS LIMITED




Company Registration Number:
SC225762 (Scotland)



Abbreviated (Unaudited) Accounts



Period of accounts


Start date: 01st July 2009

End date: 30th June 2010

SUBMITTED

TOUGH DEBT SOLUTIONS LIMITED

Company Information
for the Period Ended
30th June 2010




Director: Graham Cameron Tough
Sandra Catherine Tough
Company secretary: Sandra Catherine Tough
Registered office: 35 Norwood Drive
Giffnock
Glasgow
G46 7LS
GB-SCT
Company Registration Number: SC225762 (Scotland)

TOUGH DEBT SOLUTIONS LIMITED

Abbreviated Balance sheet
As at 30th June 2010

Notes 2010
£
2009
£
Fixed assets
Tangible assets: 6 55,422 -
Total fixed assets: 55,422 -
Current assets
Stocks: 482,119 606,086
Debtors: 8 66,701 69,778
Cash at bank and in hand: 667,278 686,554
Total current assets: 1,216,098 1,362,418
Creditors
Creditors: amounts falling due within one year 9 314,693 433,884
Net current assets (liabilities): 901,405 928,534
Total assets less current liabilities: 956,827 928,534
Total net assets (liabilities): 956,827 928,534

The notes form part of these financial statements

TOUGH DEBT SOLUTIONS LIMITED

Abbreviated Balance sheet
As at 30th June 2010
continued

Notes 2010
£
2009
£
Capital and reserves
Called up share capital: 10 10,000 10,000
Profit and Loss account: 946,827 918,534
Total shareholders funds: 956,827 928,534

For the year ending 30 June 2010 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 and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2008).

The financial statements were approved by the Board of Directors on 16 November 2010

SIGNED ON BEHALF OF THE BOARD BY:

Name: Graham Cameron Tough
Status: Director

The notes form part of these financial statements

TOUGH DEBT SOLUTIONS LIMITED

Notes to the Abbreviated Accounts
for the Period Ended
30th June 2010

  • 1. Accounting policies

    Basis of measurement and preparation of accounts

    The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008)

    Turnover policy

    Turnover represents net invoiced sales of services, excluding value added tax.

    Tangible fixed assets depreciation policy

    Depreciation has been charged using the straight line method as follows : Fixtures and Fittings - 10% Office Equipment - 25% Computer Equipment - 33% Motor Vehicles - 25%

    Valuation information and policy

    Work in progress is valued in excess of direct salary costs and includes an allocation for overheads and recoverable time spent.

    Other accounting policies

    It is the policy of the company to make personal pension contributions on behalf of all staff. The assets of the scheme are held separately from the company in independently administered funds.

  • 6. Tangible assets

    Total
    Cost £
    Additions: 74,793
    At 30th June 2010: 74,793
    Depreciation
    Charge for year: 19,371
    At 30th June 2010: 19,371
    Net book value
    At 30th June 2010: 55,422

  • 8. Debtors

    2010
    £
    2009
    £
    Trade debtors: 56,861 67,482
    Other debtors: 875 -
    Prepayments and accrued income: 8,965 2,296
    Total: 66,701 69,778

  • 9. Creditors: amounts falling due within one year

    Other creditors include amounts owed to the Directors.

  • 10. Called up share capital

    Allotted, called up and paid

    Previous period 2009
    Class Number of shares Nominal value per share Total
    Ordinary shares: 10,000 1 10,000
    Total share capital: 10,000
    Current period 2010
    Class Number of shares Nominal value per share Total
    Ordinary shares: 10,000 1 10,000
    Total share capital: 10,000
  • 12. Related party disclosures

    Name of the ultimate controlling party during the period: Graham Tough
    Name of related party: Graham Tough
    Relationship: Managing Director
    Description of the transaction: Directors Loan Movement
    Balance at 01st July 2009 225,308
    Balance at 30th June 2010 245,265