V J Tech Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02617072 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2019

FOR

V J TECH LIMITED

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mr J Vimalan

Mrs K K Vimalan

SECRETARY:

Mr J Vimalan

REGISTERED OFFICE:

3 Darwin Close

Reading

RG2 0TB

REGISTERED NUMBER:

02617072 (England and Wales)

ACCOUNTANTS:

Param & Company Ltd

1st Floor

44 - 50 The Broadway

Southall

Middlesex

UB1 1QB

FIXED ASSETS

Tangible assets

4

629,002

644,010

Investment property

5

300,000

300,000

929,002

944,010

CURRENT ASSETS

Stocks

1,139,455

882,275

Debtors

249,946

372,359

Cash at bank and in hand

1,104,010

929,212

2,493,411

2,183,846

CREDITORS

Amounts falling due within one year

666,870

563,946

NET CURRENT ASSETS

1,826,541

1,619,900

TOTAL ASSETS LESS CURRENT LIABILITIES

2,755,543

2,563,910

PROVISIONS FOR LIABILITIES

1,972

4,420

NET ASSETS

2,753,571

2,559,490

CAPITAL AND RESERVES

Called up share capital

5,000

5,000

Retained earnings

2,748,571

2,554,490

SHAREHOLDERS' FUNDS

2,753,571

2,559,490

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 30 June 2019 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 21 February 2020 and were signed on its behalf by:

Mr J Vimalan - Director

1.	STATUTORY INFORMATION

V J Tech Limited is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

2% on cost

Plant and machinery

-

20% on cost

Fixtures and fittings

-

15% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

fair value is recognised in profit or loss.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2018 - 25 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 July 2018

and 30 June 2019

724,213

DEPRECIATION

At 1 July 2018

80,203

Charge for year

15,008

At 30 June 2019

95,211

NET BOOK VALUE

At 30 June 2019

629,002

At 30 June 2018

644,010

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 July 2018

and 30 June 2019

300,000

NET BOOK VALUE

At 30 June 2019

300,000

At 30 June 2018

300,000

Fair value at 30 June 2019 is represented by:

£

Valuation in 2017

90,000

Cost

210,000

300,000

6.	ADVANCES TO DIRECTORS

The following advances to directors subsisted during the years ended 30 June 2019 and 30 June 2018:

2019

2018

£

£

Mr J Vimalan

Balance outstanding at start of year

(358

)

75,182

Amounts advanced

358

-

Amounts repaid

-

(75,540

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

(358

)

Mrs K K Vimalan

Balance outstanding at start of year

(359

)

75,181

Amounts advanced

359

-

Amounts repaid

-

(75,540

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

(359

)

7.	RELATED PARTY DISCLOSURES

During the year, total dividends of £235,000 (2018 - £133,000) were paid to the directors .