Vanliners Limited - Period Ending 2014-12-31

Registration number: 05161539

Vanliners Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 December 2014
 

Thompson Jones Business Solutions Limited
Registered Auditors & Chartered Accountants
2 Heap Bridge
Bury
Lancashire
BL9 7HR

Vanliners Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Vanliners Limited
(Registration number: 05161539)
Abbreviated Balance Sheet at 31 December 2014

		Note			31 December 2014 £			31 December 2013 £
Fixed assets
Tangible fixed assets					138,458			143,930
Current assets
Stocks					26,664			122,925
Debtors					518,458			529,458
Cash at bank and in hand					38,613			23,016
					583,735			675,399
Creditors: Amounts falling due within one year					(665,184)			(797,876)
Net current liabilities					(81,449)			(122,477)
Total assets less current liabilities					57,009			21,453
Creditors: Amounts falling due after more than one year					(35,046)			(39,897)
Net assets/(liabilities)					21,963			(18,444)
Capital and reserves
Called up share capital		4			100			100
Profit and loss account					21,863			(18,544)
Shareholders' funds/(deficit)					21,963			(18,444)

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 its behalf by:

.........................................
David Rees
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Vanliners Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2014
......... continued

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 and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Turnover

Turnover represents amounts receivable, net of value added tax, in respect of the manufacture and fitting of commercial vehicle accessories.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Property improvements	20% SL
Plant and machinery	20%-100% SL
Fixtures, fittings and computers	33.3% and 100% SL
Motor vehicles	20% SL

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

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.

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

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.

Page 2

Vanliners Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2014
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 January 2014		282,897			282,897
Additions		50,267			50,267
Disposals		(25,300)			(25,300)
At 31 December 2014		307,864			307,864
Depreciation
At 1 January 2014		138,967			138,967
Charge for the year		48,687			48,687
Eliminated on disposals		(18,248)			(18,248)
At 31 December 2014		169,406			169,406
Net book value
At 31 December 2014		138,458			138,458
At 31 December 2013		143,930			143,930

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		31 December 2014 £			31 December 2013 £
Amounts falling due within one year		215,392			296,739

4	Share capital

Allotted, called up and fully paid shares

	31 December 2014						31 December 2013
		No.			£			No.			£
Ordinary of £1 each		100			100			100			100

Page 3