Vale Burner Services Ltd - Period Ending 2015-06-30

Registration number: 08101789

Vale Burner Services Ltd

Unaudited Abbreviated Accounts

for the Year Ended 30 June 2015
 

Templesmith Hart
Chartered Accountants
89 High Street
Thame
Oxfordshire
OX9 3EH

Vale Burner Services Ltd
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 5

Vale Burner Services Ltd
(Registration number: 08101789)
Abbreviated Balance Sheet at 30 June 2015

		Note			2015 £			2014 £
Fixed assets
Intangible fixed assets					28,000			42,000
Tangible fixed assets					5,661			7,602
					33,661			49,602
Current assets
Stocks					9,000			9,500
Debtors					8,597			11,983
Cash at bank and in hand					7,996			4,738
					25,593			26,221
Creditors: Amounts falling due within one year					(50,038)			(64,571)
Net current liabilities					(24,445)			(38,350)
Total assets less current liabilities					9,216			11,252
Provisions for liabilities					(1,132)			(1,520)
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					7,984			9,632
Shareholders' funds					8,084			9,732

For the year ending 30 June 2015 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 notes on pages 3 to 5 form an integral part of these financial statements.
Page 1

Vale Burner Services Ltd
(Registration number: 08101789)
Abbreviated Balance Sheet at 30 June 2015
......... continued

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 28 September 2015 and signed on its behalf by:

.........................................
Mr Paul Young
Director

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 2

Vale Burner Services Ltd
Notes to the Abbreviated Accounts for the Year Ended 30 June 2015
......... 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).

Exemption from preparing group accounts

The company is part of a small group. The company has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and has not prepared group accounts.

Turnover

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

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

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

Asset class	Amortisation method and rate
Goodwill	20% on straight line

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
Motor vehicles	25% on reducing balance

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.

Page 3

Vale Burner Services Ltd
Notes to the Abbreviated Accounts for the Year Ended 30 June 2015
......... continued

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 the FRSSE. 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.

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.

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 July 2014		70,000			13,304			83,304
At 30 June 2015		70,000			13,304			83,304
Depreciation
At 1 July 2014		28,000			5,702			33,702
Charge for the year		14,000			1,941			15,941
At 30 June 2015		42,000			7,643			49,643
Net book value
At 30 June 2015		28,000			5,661			33,661
At 30 June 2014		42,000			7,602			49,602

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Page 4

Vale Burner Services Ltd
Notes to the Abbreviated Accounts for the Year Ended 30 June 2015
......... continued

Undertaking	Country of incorporation	Holding	Proportion of voting rights and shares held	Principal activity
Subsidiary undertakings
VB Services Ltd	United Kingdom	Ordinary shares	100%	No trade, Dissolved 30/09/2014

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100

4	Related party transactions

Directors' advances and credits

	2015 Advance/ Credit £	2015 Repaid £	2014 Advance/ Credit £	2014 Repaid £
Mr Paul Young
Advance	1,100	-	1,003	-

5

Control

The company is controlled by Mr Paul Young a director of the company who owns 90% of the share capital.

Page 5