Vextrix Management Limited - Period Ending 2014-12-31

Vextrix Management Limited
Abbreviated Balance Sheet
31 December 2014

 

Company Registration Number: 06736289

		Note			2014 £			2013 £
Fixed assets		2
Tangible fixed assets					1,737			1,591
Current assets
Debtors					95,499			192,534
Cash at bank and in hand					36,070			43,296
					131,569			235,830
Creditors: Amounts falling due within one year					(109,560)			(137,548)
Net current assets					22,009			98,282
Total assets less current liabilities					23,746			99,873
Provisions for liabilities					(347)			(319)
Net assets					23,399			99,554
Capital and reserves
Called up share capital		3			1,053			1,053
Profit and loss account					22,346			98,501
Shareholders' funds					23,399			99,554

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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These abbreviated accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime under the Companies Act 2006.

Approved by the Board on 3 August 2015
and signed on its behalf by:

PJ Marsden
Director

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Vextrix Management Limited
Notes to the Abbreviated Accounts
Year Ended 31 December 2014

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.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Fixtures and fittings	25% Straight line
Office equipment	25% Straight line

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by FRS19. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

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.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

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Vextrix Management Limited
Notes to the Abbreviated Accounts
Year Ended 31 December 2014

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 January 2014		12,382			12,382
Additions		1,098			1,098
At 31 December 2014		13,480			13,480
Depreciation
At 1 January 2014		10,791			10,791
Charge for the year		952			952
At 31 December 2014		11,743			11,743
Net book value
At 31 December 2014		1,737			1,737
At 31 December 2013		1,591			1,591

3	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary A shares of £0.10 each		5,000			500			5,000			500
Ordinary B shares of £0.10 each		5,000			500			5,000			500
Ordinary C shares of £0.10 each		527			53			527			53
		10,527			1,053			10,527			1,053

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