Village Times Limited - Limited company - abbreviated - 11.9
Village Times Limited - Limited company - abbreviated - 11.9
| REGISTERED NUMBER: |
| ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2015 |
| FOR |
| VILLAGE TIMES LIMITED |
| VILLAGE TIMES LIMITED (REGISTERED NUMBER: 01876312) |
| CONTENTS OF THE ABBREVIATED ACCOUNTS |
| FOR THE YEAR ENDED 31 MARCH 2015 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 3 |
| Chartered Accountants' Report | 6 |
| VILLAGE TIMES LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 MARCH 2015 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| VILLAGE TIMES LIMITED (REGISTERED NUMBER: 01876312) |
| ABBREVIATED BALANCE SHEET |
| 31 MARCH 2015 |
| 2015 | 2014 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 2 |
| Tangible assets | 3 |
| CURRENT ASSETS |
| Stocks |
| Debtors |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 4 |
| Share premium |
| Profit and loss account | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| The director acknowledges his responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| The financial statements were approved by the director on |
| VILLAGE TIMES LIMITED (REGISTERED NUMBER: 01876312) |
| NOTES TO THE ABBREVIATED ACCOUNTS |
| FOR THE YEAR ENDED 31 MARCH 2015 |
| 1. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The accounts have been prepared under the going concern concept because the shareholders have |
| agreed to provide adequate funds for the company to meet its liabilities as they fall due. |
| Accounting convention |
| 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 derived from operating activities and is stated net of value added tax. |
| Intangible assets |
| Intangible assets comprise of patent costs and are initially recognised at cost and are subsequently |
| carried at cost less accumulated amortisation. These costs are amortised to profit and loss using the |
| straight line method over 10 years. |
| Tangible fixed assets |
| Fixtures and fittings | - |
| Computer equipment | - |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for |
| obsolete and slow moving items. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
| the balance sheet date. |
| 2. | INTANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| Additions |
| At 31 March 2015 |
| AMORTISATION |
| Amortisation for year |
| At 31 March 2015 |
| NET BOOK VALUE |
| At 31 March 2015 |
| VILLAGE TIMES LIMITED (REGISTERED NUMBER: 01876312) |
| NOTES TO THE ABBREVIATED ACCOUNTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2015 |
| 3. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 April 2014 |
| Additions |
| At 31 March 2015 |
| DEPRECIATION |
| At 1 April 2014 |
| Charge for year |
| At 31 March 2015 |
| NET BOOK VALUE |
| At 31 March 2015 |
| At 31 March 2014 |
| 4. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2015 | 2014 |
| value: | £ | £ |
| Ordinary | £1 |
| 5. | RELATED PARTY DISCLOSURES |
| The director |
| Loans to the value of £13,405 were received during the year. Repayments of £12,358 were made |
| during the year. |
| 2015 | 2014 |
| £ | £ |
| Amount due to related party at the balance sheet date |
| Mrs J E Chipperfield |
| The wife of the director |
| Loans to the value of £40 were received during the year. Repayments of £2,454 were made during the |
| year. |
| 2015 | 2014 |
| £ | £ |
| Amount due to related party at the balance sheet date |
| VILLAGE TIMES LIMITED (REGISTERED NUMBER: 01876312) |
| NOTES TO THE ABBREVIATED ACCOUNTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2015 |
| 5. | RELATED PARTY DISCLOSURES - continued |
| Mr R Chipperfield |
| The son of the director |
| Loans to the value of £6,256 were received during the year. Repayments of £3,788 were made during |
| the year |
| 2015 | 2014 |
| £ | £ |
| Amount due to related party at the balance sheet date |
| 6. | ULTIMATE CONTROLLING PARTY |
| Throughout the whole year the company was under the control of Mr J S Chipperfield, managing |
| director and major shareholder of the company. |
| CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR |
| ON THE UNAUDITED FINANCIAL STATEMENTS OF |
| VILLAGE TIMES LIMITED |
| The following reproduces the text of the report prepared for the director in respect of the company's |
| annual unaudited financial statements, from which the unaudited abbreviated accounts (set out on |
| pages two to five) have been prepared. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval |
| the financial statements of Village Times Limited for the year ended 31 March 2015 which comprise the Profit |
| and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from |
| information and explanations you have given us. |
| As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook. |
| This report is made solely to the director of Village Times Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Village Times Limited and state those matters that we have agreed to state to the director of Village Times Limited in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report. |
| It is your duty to ensure that Village Times Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Village Times Limited. You consider that Village Times Limited 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 financial statements of Village Times |
| Limited. 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 financial statements. |
| Chartered Accountants |
| 31 December 2015 |