Vaour Limited Filleted accounts for Companies House (small and micro)

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COMPANY REGISTRATION NUMBER: 05069070

Vaour Limited

Filleted Unaudited Financial Statements

31 March 2019

Vaour Limited

Financial Statements

Year ended 31 March 2019

Contents	Page

Officers and professional advisers	1

Statement of financial position	2

Notes to the financial statements	4

Vaour Limited

Officers and Professional Advisers

The board of directors	P Lowe
	R Taylor

Company secretary	P.Lowe

Registered office	Causeway Sett Farm
	Huddersfield Road
	Delph
	Oldham
	OL3 5UU

Accountants	Morris Gregory
	Chartered Accountants
	County End Business Centre
	Jackson Street
	Springhead
	Oldham
	Lancashire
	OL4 4TZ

Vaour Limited

Statement of Financial Position

31 March 2019

	2019	2018
Note	£	£

Fixed assets

Tangible assets	4	550,000	550,000

Current assets

Debtors	5	855	842
Cash at bank and in hand		1,796	3,515
		-------	-------
		2,651	4,357

Creditors: amounts falling due within one year	6	257,519	281,814
		---------	---------
Net current liabilities		254,868	277,457
		---------	---------
Total assets less current liabilities		295,132	272,543

Creditors: amounts falling due after more than one year	7	129,989	129,990
		---------	---------
Net assets		165,143	142,553
		---------	---------

Capital and reserves

Called up share capital	2	2
Revaluation reserve	66,519	66,519
Profit and loss account	98,622	76,032
	---------	---------
Shareholders funds	165,143	142,553
	---------	---------

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 income and retained earnings has not been delivered.

For the year ending 31 March 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 .

Vaour Limited

Statement of Financial Position (continued)

31 March 2019

These financial statements were approved by the board of directors and authorised for issue on 26 September 2019 , and are signed on behalf of the board by:

P Lowe
Director

Company registration number: 05069070

Vaour Limited

Notes to the Financial Statements

Year ended 31 March 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 Causeway Sett Farm, Huddersfield Road, Delph, Oldham, OL3 5UU.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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.

Revenue recognition

The turnover shown in the profit and loss account represents amounts received from rental and sale of properties during the year.

Taxation

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.

Tangible assets

Tangible assets are initially recorded at cost, and 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 equity, 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 equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Investment property

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss. If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis.

Impairment of fixed assets

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. For the purposes of impairment testing, 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 largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

4. Tangible assets

	Freehold property	Long leasehold property	Total
	£	£	£
Cost
At 1 April 2018 and 31 March 2019	430,000	120,000	550,000
	---------	---------	---------
Depreciation
At 1 April 2018 and 31 March 2019	–	–	–
	---------	---------	---------
Carrying amount
At 31 March 2019	430,000	120,000	550,000
	---------	---------	---------
At 31 March 2018	430,000	120,000	550,000
	---------	---------	---------

Investment properties are shown at their open market value. The surplus or deficit arising from the annual revaluation is recognised in the profit and loss account for the year.

5. Debtors

	2019	2018
	£	£
Other debtors	855	842
	----	----

6. Creditors: amounts falling due within one year

	2019	2018
	£	£
Corporation tax	5,302	4,930
Other creditors	252,217	276,884
	---------	---------
	257,519	281,814
	---------	---------

7. Creditors: amounts falling due after more than one year

	2019	2018
	£	£
Other creditors	129,989	129,990
	---------	---------

8. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:

	2019
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
P Lowe	( 139,693)	12,263	( 127,430)
R Taylor	( 136,082)	12,403	( 123,679)
	---------	--------	---------
	( 275,775)	24,666	( 251,109)
	---------	--------	---------

	2018
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
P Lowe	( 149,322)	9,629	( 139,693)
R Taylor	( 145,841)	9,759	( 136,082)
	---------	--------	---------
	( 295,163)	19,388	( 275,775)
	---------	--------	---------

9. Related party transactions

No transactions with related parties were undertaken such as are required to be disclosed under FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.