Abbreviated Company Accounts - VS1 PAYMENT SERVICES LTD

VS1 BUSINESS SERVICES (EUROPE) LTD. - Company Information

06749540 VS1 PAYMENT SERVICES LTD 2015-11-30 false 2014-12-01 2015-11-30 true 06749540 2014-12-01 2015-11-30 06749540 2015-11-30 06749540 2014-11-30 06749540 uk-gaap-cd-bus:Director1 2014-12-01 2015-11-30 06749540 uk-gaap-cd-bus:Director2 2014-12-01 2015-11-30 uk-gaap-cd-bus:OrdinaryShareClass1 2014-12-01 2015-11-30 uk-gaap-cd-bus:OrdinaryShareClass1 2015-11-30 uk-gaap-cd-bus:OrdinaryShareClass1 2014-11-30 iso4217:GBP shares

Registered Number 06749540

VS1 PAYMENT SERVICES LTD

Abbreviated Accounts

30 November 2015

VS1 PAYMENT SERVICES LTD Registered Number 06749540

Abbreviated Balance Sheet as at 30 November 2015

	Notes	2015	2014
		£	£
Fixed assets
Intangible assets	2	2,400	7,200
Tangible assets	3	7,464	9,566
		9,864	16,766
Current assets
Debtors		-	234
Cash at bank and in hand		52,107	48,280
		52,107	48,514
Creditors: amounts falling due within one year		(5,809)	(2,800)
Net current assets (liabilities)		46,298	45,714
Total assets less current liabilities		56,162	62,480
Total net assets (liabilities)		56,162	62,480
Capital and reserves
Called up share capital	4	52,963	52,963
Profit and loss account		3,199	9,517
Shareholders' funds		56,162	62,480

For the year ending 30 November 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 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 5 January 2016

And signed on their behalf by:
Mr Dominic James Edward Thorncroft, Director

VS1 PAYMENT SERVICES LTD Registered Number 06749540

Notes to the Abbreviated Accounts for the period ended 30 November 2015

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 volume of transaction including fees and commission from customers.

Tangible assets depreciation policy
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc - at variable rates on reducing balance

Intangible assets amortisation policy
Amortisation is provided at the following annual rates in order to write off each asset over its
estimated useful life.

Computer software - 20% on cost

2Intangible fixed assets

	£
Cost
At 1 December 2014	24,000
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 30 November 2015	24,000
Amortisation
At 1 December 2014	16,800
Charge for the year	4,800
On disposals	-
At 30 November 2015	21,600
Net book values
At 30 November 2015	2,400
At 30 November 2014	7,200

3Tangible fixed assets

	£
Cost
At 1 December 2014	24,647
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 30 November 2015	24,647
Depreciation
At 1 December 2014	15,081
Charge for the year	2,102
On disposals	-
At 30 November 2015	17,183
Net book values
At 30 November 2015	7,464
At 30 November 2014	9,566

4Called Up Share Capital
Allotted, called up and fully paid:

	2015 £	2014 £
52,963 Ordinary shares of £1 each	52,963	52,963