VASSILISA LIMITED - Period Ending 2014-12-31

Registration number: 06458435

VASSILISA LIMITED

Unaudited Abbreviated Accounts

for the Year Ended 31 December 2014
 

Alexander Rosse Limited
140 Milton Keynes Business Centre
Foxhunter Drive
Linford Wood
Milton Keynes
Buckinghamshire
MK14 6GD

VASSILISA LIMITED
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2 to 3

Notes to the Abbreviated Accounts 4 to 5

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 5) have been prepared.

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
VASSILISA LIMITED
for the Year Ended 31 December 2014

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of VASSILISA LIMITED for the year ended 31 December 2014 set out on pages 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 Board of Directors of VASSILISA LIMITED, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of VASSILISA LIMITED and state those matters that we have agreed to state to them, as a body, 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 VASSILISA LIMITED and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that VASSILISA LIMITED has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of VASSILISA LIMITED. You consider that VASSILISA LIMITED 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 accounts of VASSILISA LIMITED. 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 accounts.

......................................

Alexander Rosse Limited
140 Milton Keynes Business Centre
Foxhunter Drive
Linford Wood
Milton Keynes
Buckinghamshire
MK14 6GD

19 February 2015

Page 1

VASSILISA LIMITED
(Registration number: 06458435)
Abbreviated Balance Sheet at 31 December 2014

		Note			2014 £			2013 £
Fixed assets
Intangible fixed assets					392			670
Tangible fixed assets					5,630			7,125
					6,022			7,795
Current assets
Stocks					10,000			14,000
Debtors					(4,639)			6,920
Cash at bank and in hand					5,357			3,012
					10,718			23,932
Creditors: Amounts falling due within one year					(45,349)			(32,852)
Net current liabilities					(34,631)			(8,920)
Total assets less current liabilities					(28,609)			(1,125)
Creditors: Amounts falling due after more than one year					(12,756)			(17,248)
Net liabilities					(41,365)			(18,373)
Capital and reserves
Called up share capital		3			1,000			1,000
Share premium account					96,432			96,432
Profit and loss account					(138,797)			(115,805)
Shareholders' deficit					(41,365)			(18,373)

For the year ending 31 December 2014 the company was entitled to exemption 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the director on 19 February 2015

The notes on pages 4 to 5 form an integral part of these financial statements.
Page 2

VASSILISA LIMITED
(Registration number: 06458435)
Abbreviated Balance Sheet at 31 December 2014
......... continued

.........................................
Nadezda SOLOVIEVA
Director

The notes on pages 4 to 5 form an integral part of these financial statements.
Page 3

VASSILISA LIMITED
Notes to the Abbreviated Accounts for the Year Ended 31 December 2014
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Amortisation method and rate
Designs and Branding	25% Straight Line

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Computer equipment etc	20% Straight Line

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Foreign currency

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 4

VASSILISA LIMITED
Notes to the Abbreviated Accounts for the Year Ended 31 December 2014
......... continued

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 January 2014		1,113			15,022			16,135
Additions		-			1,441			1,441
At 31 December 2014		1,113			16,463			17,576
Depreciation
At 1 January 2014		443			7,897			8,340
Charge for the year		278			2,936			3,214
At 31 December 2014		721			10,833			11,554
Net book value
At 31 December 2014		392			5,630			6,022
At 31 December 2013		670			7,125			7,795

3	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
£1 Ordinary Shares of £1 each		1,000			1,000			1,000			1,000

Page 5