VC&T Limited - Period Ending 2021-02-28
VC&T Limited - Period Ending 2021-02-28
Registration number:
VC&T Limited
for the Year Ended 28 February 2021
VC&T Limited
Contents
Abridged Balance Sheet |
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Notes to the Abridged Financial Statements |
VC&T Limited
(Registration number: 11816523)
Abridged Balance Sheet as at 28 February 2021
Note |
2021 |
2020 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current (liabilities)/assets |
( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
- |
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Provisions for liabilities |
( |
- |
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Net (liabilities)/assets |
( |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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VC&T Limited
(Registration number: 11816523)
Abridged Balance Sheet as at 28 February 2021
For the financial year ending 28 February 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.
Approved and authorised by the
Mr C Eiermann
Director
VC&T Limited
Notes to the Abridged Financial Statements for the Year Ended 28 February 2021
General information |
The company is a private company limited by share capital incorporated in England and Wales.
The address of its registered office is:
Accounting policies |
Statement of compliance
These abridged financial statements were prepared in accordance with Financial Reporting Standard 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
The financial statements have been prepared on a going concern basis.The company meets its day to day working capital requirements through the Director's loan account. The director has confirmed that they will not seek repayment of this amount until the company has sufficient funds to do so therefore the company will have sufficient funding to enable it to continue trading for at least one year from the date of approval.
Revenue recognition
Turnover represents the amounts, excluding value added tax, derived from the provision of goods and services to customers during the year.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
VC&T Limited
Notes to the Abridged Financial Statements for the Year Ended 28 February 2021
Asset class |
Depreciation method and rate |
Fixtures and fittings |
15% reducing balance |
Motor vehicles |
15% reducing balance |
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Tangible assets |
Total |
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Cost or valuation |
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At 1 March 2020 |
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Additions |
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At 28 February 2021 |
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Depreciation |
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At 1 March 2020 |
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Charge for the period |
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At 28 February 2021 |
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Carrying amount |
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At 28 February 2021 |
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At 29 February 2020 |
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Related party transactions |
Transactions with directors |
2021 |
Advances to directors |
Repayments by director |
At 28 February 2021 |
Mr C Eiermann |
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Loan advances in period - repayable on demand and interest charged at commercial rate. |
( |
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- |
2020 |
Advances to directors |
Repayments by director |
At 29 February 2020 |
Mr C Eiermann |
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Loan advances in period - repayable on demand and interest charged at commercial rate. |
( |
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- |