VA Consultants Global Limited 28/02/2019 iXBRL

VA Consultants Global Limited 28/02/2019 iXBRL

VA CONSULTANTS GLOBAL LIMITED - Company Information

Print Friendly Version

28/02/2019 2019-02-28 false false false false false false false false false false true false false true false false false true false false false false No description of principal activities is disclosed 2018-03-01 Sage Accounts Production 18.30 - FRS xbrli:pure xbrli:shares iso4217:GBP 09901412 2018-03-01 2019-02-28 09901412 2019-02-28 09901412 2018-02-28 09901412 2017-03-01 2018-02-28 09901412 2018-02-28 09901412 2017-02-28 09901412 core:LandBuildings core:ShortLeaseholdAssets 2018-03-01 2019-02-28 09901412 core:FurnitureFittingsToolsEquipment 2018-03-01 2019-02-28 09901412 core:MotorVehicles 2018-03-01 2019-02-28 09901412 bus:Director1 2018-03-01 2019-02-28 09901412 core:FurnitureFittingsToolsEquipment 2018-02-28 09901412 core:MotorVehicles 2018-02-28 09901412 core:LandBuildings core:ShortLeaseholdAssets 2019-02-28 09901412 core:FurnitureFittingsToolsEquipment 2019-02-28 09901412 core:MotorVehicles 2019-02-28 09901412 core:RetainedEarningsAccumulatedLosses 2017-03-01 2018-02-28 09901412 core:RetainedEarningsAccumulatedLosses 2018-03-01 2019-02-28 09901412 core:WithinOneYear 2019-02-28 09901412 core:WithinOneYear 2018-02-28 09901412 core:AfterOneYear 2018-02-28 09901412 core:ShareCapital 2019-02-28 09901412 core:ShareCapital 2018-02-28 09901412 core:RetainedEarningsAccumulatedLosses 2019-02-28 09901412 core:RetainedEarningsAccumulatedLosses 2018-02-28 09901412 core:ShareCapital 2017-02-28 09901412 core:RetainedEarningsAccumulatedLosses 2017-02-28 09901412 core:FurnitureFittingsToolsEquipment 2018-02-28 09901412 core:MotorVehicles 2018-02-28 09901412 bus:SmallEntities 2018-03-01 2019-02-28 09901412 bus:AuditExempt-NoAccountantsReport 2018-03-01 2019-02-28 09901412 bus:FullAccounts 2018-03-01 2019-02-28 09901412 bus:SmallCompaniesRegimeForAccounts 2018-03-01 2019-02-28 09901412 bus:PrivateLimitedCompanyLtd 2018-03-01 2019-02-28
Company registration number: 09901412
VA Consultants Global Limited
Unaudited filleted financial statements
28 February 2019
VA Consultants Global Limited
Statement of financial position
28 February 2019
2019 2018
Note £ £ £ £
Fixed assets
Tangible assets 5 35,206 43,790
_______ _______
35,206 43,790
Current assets
Debtors 6 189,657 227,805
Cash at bank and in hand 174,936 164,824
_______ _______
364,593 392,629
Creditors: amounts falling due
within one year 7 ( 222,991) ( 204,291)
_______ _______
Net current assets 141,602 188,338
_______ _______
Total assets less current liabilities 176,808 232,128
Creditors: amounts falling due
after more than one year 8 - ( 11,857)
Provisions for liabilities ( 2,643) ( 4,362)
_______ _______
Net assets 174,165 215,909
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 174,065 215,809
_______ _______
Shareholders funds 174,165 215,909
_______ _______
For the year ending 28 February 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 08 April 2019 , and are signed on behalf of the board by:
Mr R J Kelly
Director
Company registration number: 09901412
VA Consultants Global Limited
Statement of changes in equity
Year ended 28 February 2019
Called up share capital Profit and loss account Total
£ £ £
At 1 March 2017 100 270,630 270,730
Profit for the year 222,379 222,379
_______ _______ _______
Total comprehensive income for the year - 222,379 222,379
Dividends paid and payable ( 277,200) ( 277,200)
_______ _______ _______
Total investments by and distributions to owners - ( 277,200) ( 277,200)
_______ _______ _______
At 28 February 2018 and 1 March 2018 100 215,811 215,911
Profit for the year 237,300 237,300
_______ _______ _______
Total comprehensive income for the year - 237,300 237,300
Dividends paid and payable ( 279,046) ( 279,046)
_______ _______ _______
Total investments by and distributions to owners - ( 279,046) ( 279,046)
_______ _______ _______
At 28 February 2019 100 174,065 174,165
_______ _______ _______
VA Consultants Global Limited
Notes to the financial statements
Year ended 28 February 2019
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Hawthorn Hill, Stainton, Kendal, Cumbria, LA8 0LQ.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Leasehold improvements - 25 % straight line
Fittings fixtures and equipment - 25 % reducing balance
Motor vehicles - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 7 (2018: 6 ).
5. Tangible assets
Leasehold improvements Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £
Cost
At 1 March 2018 - 46,136 24,609 70,745
Additions 2,136 303 - 2,439
_______ _______ _______ _______
At 28 February 2019 2,136 46,439 24,609 73,184
_______ _______ _______ _______
Depreciation
At 1 March 2018 - 17,342 9,613 26,955
Charge for the year - 7,274 3,749 11,023
_______ _______ _______ _______
At 28 February 2019 - 24,616 13,362 37,978
_______ _______ _______ _______
Carrying amount
At 28 February 2019 2,136 21,823 11,247 35,206
_______ _______ _______ _______
At 28 February 2018 - 28,794 14,996 43,790
_______ _______ _______ _______
6. Debtors
2019 2018
£ £
Trade debtors 170,594 212,255
Other debtors 19,063 15,550
_______ _______
189,657 227,805
_______ _______
7. Creditors: amounts falling due within one year
2019 2018
£ £
Trade creditors 59,994 66,981
Corporation tax 57,420 52,089
Social security and other taxes 49,787 31,340
Other creditors 55,790 53,881
_______ _______
222,991 204,291
_______ _______
8. Creditors: amounts falling due after more than one year
2019 2018
£ £
Other creditors - 11,857
_______ _______
9. Pension commitments
The company operates a defined contribution pension scheme with B & CE The People's Pension for its employees to meet its obligations under pension auto enrolment.The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date, unpaid contributions of £1,260 (2018 : £842) were due to the fund. They are included in other creditors.