Vorago Security Limited Accounts

VORAGO SECURITY LIMITED - Company Information






Vorago Security Limited
	Company No. 10969227
		Information for Filing with The Registrar
		30 September 2018

at	30 September 2018
Company No.		10969227	Notes	2018
				£
Fixed assets

	Tangible assets		3	3,586


				3,586
Current assets

	Debtors		4	1,442

	Cash at bank and in hand			25,440
				26,882
Creditors: Amount falling due within one year			5	(26,206)
Net current assets				676
Total assets less current liabilities				4,262




Net assets				4,262

Capital and reserves
	Called up share capital			103



	Profit and loss account		6	4,159

Total equity				4,262


These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the period ended 30 September 2018 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 Companies Act 2006 with respect to accounting records and the preparation of accounts.

As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.

Approved by the board on 03 June 2019
And signed on its behalf by:
D.R. Riley
Director

for the period ended 30 September 2018

Accounting policies

Basis of preparation

The accounts have been prepared in accordance with FRS 102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Companies Act 2006 . There were no material departures from that standard.

The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets and in accordance with the accounting policies set out below.

Turnover

Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• the Company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.

Tangible fixed assets and depreciation

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.

Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:

Furniture, fittings and equipment

33.33% straight line

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.

Trade and other creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Provisions

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the balance sheet.

2	Employees
			2018
			Number
		The average number of persons employed during the period :	2

3	Tangible fixed assets
			Fixtures, fittings and equipment	Total
			£	£
		Cost or revaluation

		Additions	4,014	4,014



		At 30 September 2018	4,014	4,014
		Depreciation

		Charge for the year	428	428



		At 30 September 2018	428	428
		Net book values
		At 30 September 2018	3,586	3,586

4	Debtors
			2018
			£
		Trade debtors	1,053






		Prepayments	389
			1,442

5	Creditors:
		amounts falling due within one year
			2018
			£




		Trade creditors	388

		Corporation tax	6,214
		Other taxes and social security	8,024
		Loans from directors	10,470

		Accruals	1,110
			26,206

Reserves

Profit and loss account - includes all current and prior period retained profits and losses.

7	Dividends
			2018
			£
		Dividends for the period:
		Dividends paid in the period	22,741

			22,741

		Dividends by type:

		Equity dividends	22,741
			22,741

Related party disclosures

2018

Transactions with related parties

Name of related party

D.R. Riley

Description of relationship between the parties

Director

Description of transaction and general amounts involved

Loan from director

Amount due from/(to) the related party

(10,470)

Provision for doubtful debts due from the related party

Amounts written off in the period in respect of debts from/(to) the related party

Controlling parties

Immediate controlling parties

D Riley controls the company by virtue of being the majority shareholder and director.

Ultimate controlling party

D Riley controls the company by virtue of being the majority shareholder and director.

Additional information

Its registered number is:

10969227

Its registered office is:

1 Water Vole Way

Doncaster

DN4 5JP