V.G.Refrigeration & Aircon Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08938154 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2020

FOR

V.G.REFRIGERATION & AIRCON LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr W Vignakumar

SECRETARY:

Mr W Vignakumar

REGISTERED OFFICE:

25 Brinkworth Road

Ilford

Essex

IG5 0JS

REGISTERED NUMBER:

08938154 (England and Wales)

ACCOUNTANTS:

Dana & co

Certified Accountants

46 Torquay Gardens

Ilford

Essex

IG4 5PT

FIXED ASSETS

Tangible assets

4

4,093

5,458

CURRENT ASSETS

Debtors

5

108

108

Cash at bank and in hand

1,228

2,401

1,336

2,509

CREDITORS

Amounts falling due within one year

6

4,941

4,021

NET CURRENT LIABILITIES

(3,605

)

(1,512

)

TOTAL ASSETS LESS CURRENT LIABILITIES

488

3,946

CREDITORS

Amounts falling due after more than one year

7

-

1,556

NET ASSETS

488

2,390

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

9

388

2,290

SHAREHOLDERS' FUNDS

488

2,390

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2020 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 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 director and authorised for issue on 3 March 2021 and were signed by:

Mr W Vignakumar - Director

1.	STATUTORY INFORMATION

V.G.Refrigeration & Aircon 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.

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 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.

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2019 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 May 2019

and 30 April 2020

9,200

1,000

10,200

DEPRECIATION

At 1 May 2019

4,025

717

4,742

Charge for year

1,294

71

1,365

At 30 April 2020

5,319

788

6,107

NET BOOK VALUE

At 30 April 2020

3,881

212

4,093

At 30 April 2019

5,175

283

5,458

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.20

30.4.19

£

£

Prepayments

108

108

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.20

30.4.19

£

£

Bank loans and overdrafts

1,556

2,667

Trade creditors

2

2

Corporation tax

2,022

506

Social security and other taxes

159

-

Directors' current accounts

402

46

Accrued expenses

800

800

4,941

4,021

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.4.20

30.4.19

£

£

Bank loans - 1-2 years

-

1,556

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.4.20

30.4.19

value:

£

£

100

Ordinary

£1

100

100

9.

RESERVES

Retained

earnings

£

At 1 May 2019

2,290

Profit for the year

598

Dividends

(2,500

)

At 30 April 2020

388

10.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr W Vignakumar.