Abbreviated Company Accounts - VT SPORTING LIMITED
Abbreviated Company Accounts - VT SPORTING LIMITED
Registered Number 08667023
VT SPORTING LIMITED
Abbreviated Accounts
31 August 2015
VT SPORTING LIMITED Registered Number 08667023
Abbreviated Balance Sheet as at 31 August 2015
Notes | 2015 | 2014 | |
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£ | £ | ||
Fixed assets | |||
Tangible assets | 2 |
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Current assets | |||
Debtors |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
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Net current assets (liabilities) |
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Total assets less current liabilities |
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Total net assets (liabilities) |
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Capital and reserves | |||
Called up share capital |
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Profit and loss account |
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Shareholders' funds |
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For the year ending 31 August 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
And signed on their behalf by:
VT SPORTING LIMITED Registered Number 08667023
Notes to the Abbreviated Accounts for the period ended 31 August 2015
1Accounting Policies
Basis of measurement and preparation of accounts
Turnover policy
Tangible assets depreciation policy
Depreciation
Depreciation is calculated so as to write off the cost of an asset over the useful economic life of that asset as follows:
Plant & Machinery - 15% Reducing balance
Fixtures & Fittings - 15% Reducing balance
Equipment - 15% Reducing balance
Other accounting policies
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.
Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
£ | |
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Cost | |
At 1 September 2014 |
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Additions |
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Disposals |
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Revaluations |
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Transfers |
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At 31 August 2015 |
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Depreciation | |
At 1 September 2014 |
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Charge for the year |
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On disposals |
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At 31 August 2015 |
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Net book values | |
At 31 August 2015 | 5,721 |
At 31 August 2014 | 4,612 |
3Transactions with directors
Name of director receiving advance or credit: | ||
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Description of the transaction: | ||
Balance at 1 September 2014: | £ |
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Advances or credits made: | £ |
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Advances or credits repaid: | ||
Balance at 31 August 2015: | £ |
Name of director receiving advance or credit: | ||
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Description of the transaction: | ||
Balance at 1 September 2014: | ||
Advances or credits made: | £ |
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Advances or credits repaid: | ||
Balance at 31 August 2015: | £ |