VIL FUELS LTD

VIL FUELS LTD

VIL FUELS LTD - Company Information

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Company Registration No. 06904677 (England and Wales)
VIL FUELS LTD Unaudited accounts for the year ended 31 May 2020
VIL FUELS LTD Unaudited accounts Contents
Page
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VIL FUELS LTD Company Information for the year ended 31 May 2020
Director
Marian VILCIU
Company Number
06904677 (England and Wales)
Registered Office
165 YORK ROAD MAIDSTONE KENT ME15 7QX
Accountants
Anit Shah MAAT Laxmi Accountancy Ltd 27 Belvedere Way Harrow Middlesex HA3 9XQ
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VIL FUELS LTD Accountants' report
Accountants' report to the director of VIL FUELS LTD (the company)
These financial statements have been prepared in accordance with our terms of engagement and in order to assist you to fulfil your duties under the Companies Acts that relate to preparing the financial statements of the company for the year ended 31 May 2020.
We have prepared these financial statements based on the accounting records, information and explanations provided by you. We do not express any opinion on the financial statements.
On the balance sheet you have acknowledged your duties under the prevailing Companies Acts to ensure that the company keeps adequate accounting records and prepares financial statements that give "a true and fair view".
You have determined that the company is exempt from the statutory requirement for an audit for the year ended 31 May 2020. Therefore, the financial statements are unaudited.
The financial statements are provided exclusively to the director for the limited purpose mentioned above, and may not be used or relied upon for any other purpose or by any other person, and we shall not be liable for any other usage or reliance.
Anit Shah MAAT Laxmi Accountancy Ltd 27 Belvedere Way Harrow Middlesex HA3 9XQ 31 May 2021
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VIL FUELS LTD Statement of financial position as at 31 May 2020
2020 
2019 
Notes
£ 
£ 
Fixed assets
Tangible assets
4
86,410 
69,214 
Current assets
Debtors
5
- 
45,263 
Cash at bank and in hand
52,472 
14,163 
52,472 
59,426 
Creditors: amounts falling due within one year
6
(78,024)
(64,144)
Net current liabilities
(25,552)
(4,718)
Total assets less current liabilities
60,858 
64,496 
Creditors: amounts falling due after more than one year
7
(50,000)
(55,300)
Net assets
10,858 
9,196 
Capital and reserves
Share premium
100 
100 
Profit and loss account
10,758 
9,096 
Shareholders' funds
10,858 
9,196 
For the year ending 31 May 2020 the company was entitled to exemption from audit 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 and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 31 May 2021 and were signed on its behalf by
Marian VILCIU Director Company Registration No. 06904677
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VIL FUELS LTD Notes to the Accounts for the year ended 31 May 2020
1
Statutory information
VIL FUELS LTD is a private company, limited by shares, registered in England and Wales, registration number 06904677. The registered office is 165 YORK ROAD, MAIDSTONE, KENT, ME15 7QX.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25%
Motor vehicles
25%
Computer equipment
25%
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 June 2019
1,760 
108,800 
539 
111,099 
Additions
- 
46,000 
- 
46,000 
At 31 May 2020
1,760 
154,800 
539 
157,099 
Depreciation
At 1 June 2019
1,618 
39,856 
411 
41,885 
Charge for the year
36 
28,736 
32 
28,804 
At 31 May 2020
1,654 
68,592 
443 
70,689 
Net book value
At 31 May 2020
106 
86,208 
96 
86,410 
At 31 May 2019
142 
68,944 
128 
69,214 
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VIL FUELS LTD Notes to the Accounts for the year ended 31 May 2020
5
Debtors: amounts falling due within one year
2020 
2019 
£ 
£ 
VAT
- 
884 
Trade debtors
- 
44,379 
- 
45,263 
6
Creditors: amounts falling due within one year
2020 
2019 
£ 
£ 
VAT
- 
9,021 
Obligations under finance leases and hire purchase contracts
54,023 
7,259 
Trade creditors
5,598 
6,626 
Taxes and social security
- 
3,314 
Other creditors
500 
8,354 
Loans from directors
17,903 
28,965 
Accruals
- 
605 
78,024 
64,144 
7
Creditors: amounts falling due after more than one year
2020 
2019 
£ 
£ 
Bank loans
50,000 
- 
Obligations under finance leases and hire purchase contracts
- 
55,300 
50,000 
55,300 
8
Average number of employees
During the year the average number of employees was 0 (2019: 0).
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