Velton Limited 31/03/2020 iXBRL
Velton Limited 31/03/2020 iXBRL
Company registration number:
NI602713
Contents
Statement of financial position
Notes to the financial statements
Statement of financial position
31st March 2020
2020 | 2019 | ||||||||
Note | £ | £ | £ | £ | |||||
Fixed assets | |||||||||
Tangible assets | 5 |
|
|
||||||
Investments | 6 |
|
- | ||||||
_______ | _______ | ||||||||
|
|
||||||||
Current assets | |||||||||
Stocks |
|
|
|||||||
Debtors | 7 |
|
|
||||||
Cash at bank and in hand |
|
|
|||||||
_______ | _______ | ||||||||
|
|
||||||||
Creditors: amounts falling due | |||||||||
within one year | 8 |
(
|
(
|
||||||
_______ | _______ | ||||||||
Net current assets |
|
|
|||||||
_______ | _______ | ||||||||
Total assets less current liabilities |
|
|
|||||||
Creditors: amounts falling due | |||||||||
after more than one year | 9 | - |
(
|
||||||
Provisions for liabilities |
(
|
(
|
|||||||
_______ | _______ | ||||||||
Net assets |
|
|
|||||||
_______ | _______ | ||||||||
Capital and reserves | |||||||||
Called up share capital | 10 |
|
|
||||||
Profit and loss account |
|
|
|||||||
_______ | _______ | ||||||||
Shareholders funds |
|
|
|||||||
_______ | _______ | ||||||||
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.
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
31 October 2020
, and are signed on behalf of the board by:
Director
Director
Company registration number:
NI602713
Notes to the financial statements
Year ended 31st March 2020
1.
General information
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is Unit A & C, Aghanloo Industrial Estate, Limavady, BT49 0HE.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
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
Tangible assets
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:
Plant and machinery | - |
|
|
|
Fittings fixtures and equipment | - |
|
|
|
Motor vehicles | - |
|
|
|
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
Stocks
Provisions
Financial instruments
Defined contribution plans
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
5
(2019:
6
).
5.
Tangible assets
Plant and machinery | Fixtures, fittings and equipment | Motor vehicles | Total | ||
£ | £ | £ | £ | ||
Cost | |||||
At 1st April 2019 |
|
|
|
|
|
Additions |
|
|
- |
|
|
Disposals |
(
|
- | - |
(
|
|
_______ | _______ | _______ | _______ | ||
At 31st March 2020 |
|
|
|
|
|
_______ | _______ | _______ | _______ | ||
Depreciation | |||||
At 1st April 2019 |
|
|
|
|
|
Charge for the year |
|
|
|
|
|
Disposals |
(
|
- | - |
(
|
|
_______ | _______ | _______ | _______ | ||
At 31st March 2020 |
|
|
|
|
|
_______ | _______ | _______ | _______ | ||
Carrying amount | |||||
At 31st March 2020 |
|
|
|
|
|
_______ | _______ | _______ | _______ | ||
At 31st March 2019 |
|
|
|
|
|
_______ | _______ | _______ | _______ | ||
6.
Investments
Other investments other than loans | Total | ||
£ | £ | ||
Cost | |||
At 1st April 2019 | - | - | |
Additions |
|
|
|
_______ | _______ | ||
At 31st March 2020 |
|
|
|
_______ | _______ | ||
Impairment | |||
At 1st April 2019 and 31st March 2020 | - | - | |
_______ | _______ | ||
Carrying amount | |||
At 31st March 2020 |
|
|
|
_______ | _______ | ||
At 31st March 2019 | - | - | |
_______ | _______ | ||
7.
Debtors
2020 | 2019 | |||
£ | £ | |||
Trade debtors |
|
|
||
Other debtors |
|
|
||
_______ | _______ | |||
|
|
|||
_______ | _______ | |||
8.
Creditors: amounts falling due within one year
2020 | 2019 | |||
£ | £ | |||
Trade creditors |
|
|
||
Corporation tax |
|
|
||
Social security and other taxes |
|
|
||
Other creditors |
|
|
||
_______ | _______ | |||
|
|
|||
_______ | _______ | |||
9.
Creditors: amounts falling due after more than one year
2020 | 2019 | |||
£ | £ | |||
Other creditors | - |
|
||
_______ | _______ | |||
10.
Called up share capital
Issued, called up and fully paid
2020 | 2019 | ||||||||
No | £ | No | £ | ||||||
|
1 | 1 | 1 | 1 | |||||
_______ | _______ | _______ | _______ | ||||||
11.
Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company: | |||||
2020 | |||||
Balance brought forward | Advances /(credits) to the directors | Amounts repaid | Balance o/standing | ||
£ | £ | £ | £ | ||
|
(
|
|
(
|
(
|
|
_______ | _______ | _______ | _______ | ||
2019 | |||||
Balance brought forward | Advances /(credits) to the directors | Amounts repaid | Balance o/standing | ||
£ | £ | £ | £ | ||
|
(
|
|
(
|
(
|
|
_______ | _______ | _______ | _______ | ||