Vision Unique Equipment Limited - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: 03934325 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2013

FOR

VISION UNIQUE EQUIPMENT LIMITED

Page

Abbreviated Balance Sheet

1

Notes to the Abbreviated Accounts

3

FIXED ASSETS

Tangible assets

2

27,113

31,495

CURRENT ASSETS

Stocks

250,666

111,423

Debtors

742,248

745,232

Investments

86,185

86,185

Cash at bank

497,789

430,046

1,576,888

1,372,886

CREDITORS

Amounts falling due within one year

497,819

393,648

NET CURRENT ASSETS

1,079,069

979,238

TOTAL ASSETS LESS CURRENT LIABILITIES

1,106,182

1,010,733

CREDITORS

Amounts falling due after more than one year

(17,389

)

(17,389

)

PROVISIONS FOR LIABILITIES

(4,321

)

(4,923

)

NET ASSETS

1,084,472

988,421

CAPITAL AND RESERVES

Called up share capital

3

2

2

Profit and loss account

1,084,470

988,419

SHAREHOLDERS' FUNDS

1,084,472

988,421

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2013.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2013 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 25 September 2014 and were signed on its behalf by:

Mrs K E Neild - Director

G Mullins - 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

The turnover shown in the profit and loss account represents the value of all goods sold during the period, less

returns received, at selling price exclusive of Value Added Tax. Sales are recognised at the point at which the

company has fulfilled its contractual obligations and the risks and rewards attaching to the product, such as

obsolescence, have been transferred to the customer.

Tangible fixed assets

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

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Cost is calculated using the first-in first-out method and includes the normal cost of transporting stock to its

present location and condition. Cost includes material and direct labour costs together with an appropriate

proportion of production overheads.

Deferred tax

The charge for deferred tax takes into account taxation deferred as a result of timing differences between the

treatment of certain items for taxation and accounting purposes. Deferred tax is recognised in respect of all

timing differences that have originated but not reversed at the balance sheet date. Deferred taxation is measured

on a non-discounted basis at the rates that are expected to apply in the periods in which the timing differences

reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

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 transaction. Exchange differences are taken into account in arriving at the operating result.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2013

122,751

Additions

5,239

At 31 December 2013

127,990

DEPRECIATION

At 1 January 2013

91,256

Charge for year

9,621

At 31 December 2013

100,877

NET BOOK VALUE

At 31 December 2013

27,113

At 31 December 2012

31,495

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2013

2012

value:

£

£

200

Ordinary

0.01

2

2

4.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2013 and

31 December 2012:

2013

2012

£

£

Mrs K E Neild and G Mullins

Balance outstanding at start of year

131,630

252,605

Amounts advanced

264,704

132,419

Amounts repaid

(302,000

)

(253,394

)

Balance outstanding at end of year

94,334

131,630