Vipuls Limited - Limited company - abbreviated - 11.9

REGISTERED NUMBER: 06404889 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31 October 2015

for

Vipuls Limited

Trading as

Jay's News & Booze

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

K K Vyas

Mrs R H Pandya

Mrs D P Pandya

SECRETARY:

H Pandya

REGISTERED OFFICE:

157 Redland Road

Bristol

BS6 6YE

REGISTERED NUMBER:

06404889 (England and Wales)

ACCOUNTANTS:

Wormald & Partners

Redland House

157 Redland Road

Redland

Bristol

BS6 6YE

FIXED ASSETS

Intangible assets

2

20,657

30,985

Tangible assets

3

8,827

9,520

29,484

40,505

CURRENT ASSETS

Stocks

20,813

20,450

Debtors

5,682

4,372

Cash at bank and in hand

14,268

10,707

40,763

35,529

CREDITORS

Amounts falling due within one year

70,226

97,201

NET CURRENT LIABILITIES

(29,463

)

(61,672

)

TOTAL ASSETS LESS CURRENT LIABILITIES

21

(21,167

)

PROVISIONS FOR LIABILITIES

920

1,015

NET LIABILITIES

(899

)

(22,182

)

CAPITAL AND RESERVES

Called up share capital

4

100

100

Profit and loss account

(999

)

(22,282

)

SHAREHOLDERS' FUNDS

(899

)

(22,182

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2015 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 18 February 2016 and were signed on its behalf by:

Mrs R H Pandya - Director

1.	ACCOUNTING POLICIES

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 net invoiced sales of goods, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Fixtures and fittings

-

15% on reducing balance basis

Computer equipment

-

33.33% on reducing balance basis

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 November 2014

and 31 October 2015

103,288

AMORTISATION

At 1 November 2014

72,303

Amortisation for year

10,328

At 31 October 2015

82,631

NET BOOK VALUE

At 31 October 2015

20,657

At 31 October 2014

30,985

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 November 2014

21,649

Additions

349

At 31 October 2015

21,998

DEPRECIATION

At 1 November 2014

12,129

Charge for year

1,042

At 31 October 2015

13,171

NET BOOK VALUE

At 31 October 2015

8,827

At 31 October 2014

9,520

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

100

Ordinary Shares

£1

100

100

5.	OVERDRAWN DIRECTORS' LOAN ACCOUNTS

The overdrawn directors' loan account of £ 1,986 will be repaid to the company by 31 July 2016.