VTD Plumbing & Heating Services Ltd - Period Ending 2015-03-31

Registration number: 06993753

VTD Plumbing & Heating Services Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2015
 

VTD Plumbing & Heating Services Ltd
Contents

Company Information 1

Director's Report 2

Accountants' Report 3

Profit and Loss Account 4

Balance Sheet 5

Notes to the Financial Statements 6 to 9

VTD Plumbing & Heating Services Ltd
Company Information

Director

Mr Volodymyr Davies

Company secretary

Britannia Accountancy & Tax Services Ltd

Registered office

Lees Lane Gosport Hants Lees Lane Gosport PO12 3UL

Accountants

Britannia Accountancy & Tax Services Ltd Unit A66 The Sanderson Centre Lees Lane Gosport Hampshire PO12 3UL

Page 1

VTD Plumbing & Heating Services Ltd
Director's Report for the Year Ended 31 March 2015

The director presents his report and the unaudited financial statements for the year ended 31 March 2015.

Director of the company

The director who held office during the year was as follows:

Mr Volodymyr Davies

Small company provisions

This report has been prepared in accordance with the small companies regime under the Companies Act 2006.

Approved by the Board on 22 December 2015 and signed on its behalf by:

.........................................
Mr Volodymyr Davies
Director

Page 2

Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
VTD Plumbing & Heating Services Ltd
for the Year Ended 31 March 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of VTD Plumbing & Heating Services Ltd for the year ended 31 March 2015 set out on pages 4 to 9 from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of VTD Plumbing & Heating Services Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of VTD Plumbing & Heating Services Ltd and state those matters that we have agreed to state to them, as a body, in this report. . To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than VTD Plumbing & Heating Services Ltd and its Board of Directors as a body for our work or for this report. To the best of our knowledge at the time of preparation; all information contained in this report is accurate, based upon the information and representations made to us by VTD Plumbing & Heating Services Ltd.

It is your duty to ensure that VTD Plumbing & Heating Services Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of VTD Plumbing & Heating Services Ltd. You consider that VTD Plumbing & Heating Services Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of VTD Plumbing & Heating Services Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Britannia Accountancy & Tax Services Ltd
Unit A66
The Sanderson Centre
Lees Lane
Gosport
Hampshire
PO12 3UL

22 December 2015

Page 3

VTD Plumbing & Heating Services Ltd
Profit and Loss Account for the Year Ended 31 March 2015

		Note			2015 £			2014 £
Turnover					107,206			118,603
Cost of sales					(61,580)			(67,791)
Gross profit					45,626			50,812
Administrative expenses					(64,512)			(51,592)
Operating loss		2			(18,886)			(780)
Interest payable and similar charges					-			(2,700)
Loss on ordinary activities before taxation					(18,886)			(3,480)
Loss for the financial year		9			(18,886)			(3,480)

The notes on pages 6 to 9 form an integral part of these financial statements.
Page 4

VTD Plumbing & Heating Services Ltd
(Registration number: 06993753)
Balance Sheet at 31 March 2015

		Note			2015 £			2014 £
Fixed assets
Intangible fixed assets		4			6,042			7,249
Tangible fixed assets		5			2,586			2,584
					8,628			9,833
Current assets
Debtors		6			3,087			-
Cash at bank and in hand					11,062			14,406
					14,149			14,406
Creditors: Amounts falling due within one year		7			(55,358)			(37,934)
Net current liabilities					(41,209)			(23,528)
Net liabilities					(32,581)			(13,695)
Capital and reserves
Called up share capital		8			2			2
Profit and loss account		9			(32,583)			(13,697)
Shareholders' deficit					(32,581)			(13,695)

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2008).

For the year ending 31 March 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

Approved and authorised for issue by the director on 22 December 2015

.........................................
Mr Volodymyr Davies
Director

The notes on pages 6 to 9 form an integral part of these financial statements.
Page 5

VTD Plumbing & Heating Services Ltd
Notes to the Financial Statements for the Year Ended 31 March 2015
......... continued

1	Accounting policies

Basis of preparation

The financial statements 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 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	10% on cost.

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
Plant and machinery	18% of net book value.
Tools & Equipment	18% of net book value.

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	Operating loss

Operating loss is stated after charging:

		2015 £			2014 £
Depreciation of tangible fixed assets		567			565
Amortisation		1,207			1,207

Page 6

VTD Plumbing & Heating Services Ltd
Notes to the Financial Statements for the Year Ended 31 March 2015
......... continued

3	Director's remuneration

The director's remuneration for the year was as follows:

		2015 £			2014 £
Remuneration		7,920			7,680

4	Intangible fixed assets

		Goodwill £			Total £
Cost
At 1 April 2014		12,077			12,077
At 31 March 2015		12,077			12,077
Amortisation
At 1 April 2014		4,828			4,828
Charge for the year		1,207			1,207
At 31 March 2015		6,035			6,035
Net book value
At 31 March 2015		6,042			6,042
At 31 March 2014		7,249			7,249

Page 7

VTD Plumbing & Heating Services Ltd
Notes to the Financial Statements for the Year Ended 31 March 2015
......... continued

5	Tangible fixed assets

		Plant and machinery £			Fixtures and fittings £			Office equipment £			Total £
Cost or valuation
At 1 April 2014		5,800			200			-			6,000
Additions		-			-			569			569
At 31 March 2015		5,800			200			569			6,569
Depreciation
At 1 April 2014		3,303			113			-			3,416
Charge for the year		449			15			103			567
At 31 March 2015		3,752			128			103			3,983
Net book value
At 31 March 2015		2,048			72			466			2,586
At 31 March 2014		2,497			87			-			2,584

6

Debtors

		2015 £			2014 £
Trade debtors		2,290			-
Other debtors		797			-
		3,087			-

7	Creditors: Amounts falling due within one year

		2015 £			2014 £
Other taxes and social security		1,787			1,236
Other creditors		53,571			36,698
		55,358			37,934

Page 8

VTD Plumbing & Heating Services Ltd
Notes to the Financial Statements for the Year Ended 31 March 2015
......... continued

8	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary shares of £1 each		2			2			2			2

9

Reserves

		Profit and loss account £			Total £
At 1 April 2014		(13,697)			(13,697)
Loss for the year		(18,886)			(18,886)
At 31 March 2015		(32,583)			(32,583)

10

Control

The company is controlled by the director who owns 100% of the called up share capital.

Page 9