Abbreviated Company Accounts - VOLANT COMMERCIALS LIMITED

VOLANT COMMERCIALS LIMITED - Company Information

Registered Number 08373639

VOLANT COMMERCIALS LIMITED

Abbreviated Accounts

31 December 2014

VOLANT COMMERCIALS LIMITED Registered Number 08373639

Abbreviated Balance Sheet as at 31 December 2014

	Notes	2014	2013
		£	£
Fixed assets
Tangible assets	2	6,302	8,845
Investments	3	1	-
		6,303	8,845
Current assets
Stocks		10,870	20,874
Debtors		688,857	191,312
Cash at bank and in hand		22,535	19,129
		722,262	231,315
Creditors: amounts falling due within one year		(699,760)	(212,941)
Net current assets (liabilities)		22,502	18,374
Total assets less current liabilities		28,805	27,219
Creditors: amounts falling due after more than one year		(1,383)	(3,753)
Total net assets (liabilities)		27,422	23,466
Capital and reserves
Called up share capital		100	100
Profit and loss account		27,322	23,366
Shareholders' funds		27,422	23,466

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 accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 22 September 2015

And signed on their behalf by:
RICHARD VANN, Director
MARK VANN, Director

VOLANT COMMERCIALS LIMITED Registered Number 08373639

Notes to the Abbreviated Accounts for the period ended 31 December 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents the total invoice value, excluding value added tax, of sales made during the year and derives from the provision of goods falling due within the company's ordinary activities.

Tangible assets depreciation policy
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:-

Fixtures, fittings and equipment - 25% straight line
Motor Vehicles - 25% straight line

Other accounting policies
Leasing and hire purchase commitments
assets obtained under hire purchase contracts and leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce constant periodic rates of charge on the net obligations outstanding in each period.

Investments
Fixed asset investments are stated at cost less provision for permanent diminution in value.

Stock and work in progress
Stock and work in progress are valued at the lower of cost and net realisable value.

Group accounts
The company is entitled to exemption under Section 398 of the Companies Act 2006 from the obligation to prepare group accounts.

2Tangible fixed assets

	£
Cost
At 1 January 2014	10,173
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 December 2014	10,173
Depreciation
At 1 January 2014	1,328
Charge for the year	2,543
On disposals	-
At 31 December 2014	3,871
Net book values
At 31 December 2014	6,302
At 31 December 2013	8,845

3Fixed assets Investments
Subsidiary undertaking additions in year and cost at 31 December 2014 £1 (2013 : Nil)