Vision Valeting Specialists Ltd - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 05534256 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2014

FOR

VISION VALETING SPECIALISTS LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

Chartered Accountants' Report

5

DIRECTOR:

P J Barker

SECRETARY:

Mrs E R Barker

REGISTERED OFFICE:

78 Main Street

Carlton

Nuneaton

Warwickshire

CV13 0EZ

REGISTERED NUMBER:

05534256 (England and Wales)

ACCOUNTANTS:

Crowfoot Accountants Limited

Lonsdale

High Street

Lutterworth

Leicestershire

LE17 4AD

FIXED ASSETS

Intangible assets

2

2,667

5,334

Tangible assets

3

6,550

5,060

9,217

10,394

CURRENT ASSETS

Debtors

-

3,184

CREDITORS

Amounts falling due within one year

21,565

17,019

NET CURRENT LIABILITIES

(21,565

)

(13,835

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(12,348

)

(3,441

)

PROVISIONS FOR LIABILITIES

1,310

-

NET LIABILITIES

(13,658

)

(3,441

)

CAPITAL AND RESERVES

Called up share capital

4

2

2

Profit and loss account

(13,660

)

(3,443

)

SHAREHOLDERS' FUNDS

(13,658

)

(3,441

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2014 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 11 March 2015 and were signed by:

P J Barker - Director

1.	ACCOUNTING POLICIES

Accounting convention

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

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

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets

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

Plant and machinery

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Deferred tax

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

at the balance sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line

basis over the period of the lease.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 September 2013

and 31 August 2014

8,000

AMORTISATION

At 1 September 2013

2,666

Amortisation for year

2,667

At 31 August 2014

5,333

NET BOOK VALUE

At 31 August 2014

2,667

At 31 August 2013

5,334

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 September 2013

12,673

Additions

3,240

At 31 August 2014

15,913

DEPRECIATION

At 1 September 2013

7,613

Charge for year

1,750

At 31 August 2014

9,363

NET BOOK VALUE

At 31 August 2014

6,550

At 31 August 2013

5,060

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

1

A ordinary

£1

1

1

1

B Ordinary

£1

1

1

2

2

The following reproduces the text of the report prepared for the director in respect of the

company's annual unaudited financial statements, from which the unaudited abbreviated

accounts (set out on pages two to four) have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your

approval the financial statements of Vision Valeting Specialists Ltd for the year ended 31 August 2014

which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the company's

accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we

are subject to its ethical and other professional requirements which are detailed at

icaew.com/membershandbook.

This report is made solely to the director of Vision Valeting Specialists Ltd in accordance with our terms of

engagement. Our work has been undertaken solely to prepare for your approval the financial statements

of Vision Valeting Specialists Ltd and state those matters that we have agreed to state to the director of

Vision Valeting Specialists Ltd in this report in accordance with AAF 2/10 as detailed at

icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility

to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Vision Valeting Specialists Ltd has kept adequate accounting records and to

prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial

position and profit of Vision Valeting Specialists Ltd. You consider that Vision Valeting Specialists Ltd is

exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Vision

Valeting Specialists Ltd. For this reason, we have not verified the accuracy or completeness of the

accounting records or information and explanations you have given to us and we do not, therefore,

express any opinion on the statutory financial statements.

Crowfoot Accountants Limited

Lonsdale

High Street

Lutterworth

Leicestershire

LE17 4AD

11 March 2015