Viamaster Training Ltd - Accounts to registrar (filleted) - small 18.2

Viamaster Training Ltd - Accounts to registrar (filleted) - small 18.2

VIAMASTER TRAINING LTD - Company Information

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REGISTERED NUMBER: 06838218 (England and Wales)
















VIAMASTER TRAINING LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2020






VIAMASTER TRAINING LTD (REGISTERED NUMBER: 06838218)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


VIAMASTER TRAINING LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2020







DIRECTORS: V Barrett
A Wood





SECRETARY: V Barrett





REGISTERED OFFICE: Europort Distribution Centre
Altofts Lane
Castleford
West Yorkshire
WF10 5PZ





REGISTERED NUMBER: 06838218 (England and Wales)





ACCOUNTANTS: BPR Heaton
Chartered Accountants
27a Lidget Hill
Pudsey
Leeds
LS28 7LG
Page 1
VIAMASTER TRAINING LTD (REGISTERED NUMBER: 06838218)

BALANCE SHEET
31 MARCH 2020

2020 2019
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 65,769 58,138

CURRENT ASSETS
Debtors 5 80,888 97,190
Cash at bank 41,609 35,347
122,497 132,537
CREDITORS
Amounts falling due within one year 6 110,871 95,227
NET CURRENT ASSETS 11,626 37,310
TOTAL ASSETS LESS CURRENT
LIABILITIES
77,395
95,448

CREDITORS
Amounts falling due after more than one
year
7
(13,938
)
(12,140
)

PROVISIONS FOR LIABILITIES (11,180 ) (9,883 )
NET ASSETS 52,277 73,425

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 52,177 73,325
SHAREHOLDERS' FUNDS 52,277 73,425

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 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 notes form part of these financial statements

Page 2 continued...
VIAMASTER TRAINING LTD (REGISTERED NUMBER: 06838218)

BALANCE SHEET - continued
31 MARCH 2020


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

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 and authorised for issue on 22 December 2020 and were signed on its behalf by:





V Barrett - Director


The notes form part of these financial statements

Page 3
VIAMASTER TRAINING LTD (REGISTERED NUMBER: 06838218)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020

1. STATUTORY INFORMATION

Viamaster Training Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Turnover represents the value of services net of VAT provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

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 balance sheet date.

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

Page 4 continued...
VIAMASTER TRAINING LTD (REGISTERED NUMBER: 06838218)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2020

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 11 (2019 - 10 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2019 164,222
Additions 34,704
Disposals (25,599 )
At 31 March 2020 173,327
DEPRECIATION
At 1 April 2019 106,084
Charge for year 21,378
Eliminated on disposal (19,904 )
At 31 March 2020 107,558
NET BOOK VALUE
At 31 March 2020 65,769
At 31 March 2019 58,138

Fixed assets, included in the above, which are held under hire purchase contracts total £29,753 (2019: £33,929).

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£    £   
Trade debtors 60,766 66,582
Other debtors 20,122 30,608
80,888 97,190

Page 5 continued...
VIAMASTER TRAINING LTD (REGISTERED NUMBER: 06838218)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2020

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£    £   
Hire purchase contracts 14,391 7,726
Trade creditors 51,582 43,836
Taxation and social security 42,321 41,510
Other creditors 2,577 2,155
110,871 95,227

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2020 2019
£    £   
Hire purchase contracts 13,938 12,140

8. SECURED DEBTS

The following secured debts are included within creditors:

2020 2019
£    £   
Hire purchase contracts 28,329 19,866

9. COVID-19

The accounts for the year have not been impacted by Covid-19.
Following the government's announcement of UK lockdown on the evening of March 23 2020 the company carried on trading but to protect our cashflow we made use of the Coronavirus Job Retention Scheme, Coronavirus business grants and we secured a Bounce Back Loan.

Due to strong financial controls the company has bank reserves and stands well placed to compete in the market as lockdown is eased and normal trading conditions return to the UK.

Page 6