ACCOUNTS - Final Accounts preparation

VI SOFTWARE LIMITED - Company Information

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Registered number: 02937400

VI SOFTWARE LIMITED

UNAUDITED

ABBREVIATED ACCOUNTS

FOR THE PERIOD ENDED 29 JUNE 2015

PM+M Solutions for Business LLP

Chartered Accountants

Greenbank Technology Park

Challenge Way

Blackburn

Lancashire

BB1 5QB

PAGE 1

VI SOFTWARE LIMITED

The following reproduces the text of the Chartered accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 5) have been prepared.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF VI SOFTWARE LIMITED
FOR THE PERIOD ENDED 29 JUNE 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of VI Software Limited for the period ended 29 June 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 to us.

As a 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/regulations.

This report is made solely to the Board of directors of VI Software Limited, as a body, in accordance with the terms of our engagement letter dated 10 September 2015. Our work has been undertaken solely to prepare for your approval the financial statements of VI Software Limited and state those matters that we have agreed to state to the Board of directors of VI Software Limited, as a body, 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 VI Software Limited and its Board of directors, as a body, for our work or for this report.

It is your duty to ensure that VI Software Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the company's assets, liabilities, financial position and profit. You consider that VI Software Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or review of the financial statements of VI Software 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.

PM+M Solutions for Business LLP

Chartered Accountants

Greenbank Technology Park

Challenge Way

Blackburn

Lancashire

BB1 5QB

29 March 2016

PAGE 2

VI SOFTWARE LIMITED

REGISTERED NUMBER: 02937400

ABBREVIATED BALANCE SHEET

AS AT 29 JUNE 2015

	29 June	30 June
	2015	2014

	Note	£	£	£	£
FIXED ASSETS
Tangible assets	2		3,028		3,561

CURRENT ASSETS
Debtors	63,082		81,697
Cash at bank and in hand	67,912		67,598

	130,994		149,295
CREDITORS: amounts falling due within one year	(129,046)		(140,911)
NET CURRENT ASSETS		1,948		8,384

TOTAL ASSETS LESS CURRENT LIABILITIES

4,976

11,945

PROVISIONS FOR LIABILITIES
Deferred tax	(564)	(438)
NET ASSETS	4,412	11,507

CAPITAL AND RESERVES
Called up share capital	3	99	99
Profit and loss account		4,313	11,408

SHAREHOLDERS' FUNDS

4,412

11,507

PAGE 3

VI SOFTWARE LIMITED

ABBREVIATED BALANCE SHEET (continued)

AS AT 29 JUNE 2015

The directors consider that the company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and members have not required the company to obtain an audit for the period in question in accordance with section 476 of the Act.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and for preparing financial statements which give a true and fair view of the state of affairs of the company as at 29 June 2015 and of its profit for the period in accordance with the requirements of sections 394 and 395 of the Act 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, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006, were approved and authorised for issue by the board and were signed on its behalf on 29 March 2016.

S D Marshall

Director

The notes on pages 4 to 5 form part of these financial statements.

PAGE 4

VI SOFTWARE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE PERIOD ENDED 29 JUNE 2015

1.ACCOUNTING POLICIES

	1.1	Basis of preparation of financial statements
		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).

	1.2	Cash flow
		The financial statements do not include a Cash flow statement because the company, as a small reporting entity, is exempt from the requirement to prepare such a statement under the Financial Reporting Standard for Smaller Entities (effective April 2008).

	1.3	Turnover
		The turnover shown in the profit and loss account represents amounts receivable during the year, exclusive of Value Added Tax.

	1.4	Tangible fixed assets and depreciation
		Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

				Plant and machinery	-	40% reducing balance
				Fixtures and fittings	-	15% reducing balance

	1.5	Operating leases
		Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

	1.6	Deferred taxation
		Full provision is made for deferred tax assets and liabilities arising from all timing differences between the recognition of gains and losses in the financial statements and recognition in the tax computation.
		A net deferred tax asset is recognised only if it can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred tax assets and liabilities are calculated at the tax rates expected to be effective at the time the timing differences are expected to reverse. Deferred tax assets and liabilities are not discounted.

	1.7	Research and development
		Research and evelopment expenditure is written off in the year in which it is incurred.

PAGE 5

VI SOFTWARE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE PERIOD ENDED 29 JUNE 2015

1.ACCOUNTING POLICIES (continued)

	1.8	Pensions
		The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the period. The assets of the scheme are held seperately from those of the company in an independently administered fund.

2.TANGIBLE FIXED ASSETS

		£
	Cost
	At 1 July 2014	56,683
	Additions	374
	At 29 June 2015	57,057

	Depreciation
	At 1 July 2014	53,122
	Charge for the period	907
	At 29 June 2015	54,029

	Net book value
	At 29 June 2015	3,028
	At 30 June 2014	3,561

3.SHARE CAPITAL

	29 June	30 June
	2015	2014
	£	£
Allotted, called up and fully paid

Ordinary shares of £1 each	99	99