VHL Technical Solutions Limited - Limited company accounts 11.4

REGISTERED NUMBER: 07327937 (England and Wales)

REPORT OF THE DIRECTOR AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2013

FOR

VHL TECHNICAL SOLUTIONS LIMITED

Page

Company Information

1

Report of the Director

2

Profit and Loss Account

3

Balance Sheet

4

Notes to the Financial Statements

6

DIRECTOR:

V Vaitsis

SECRETARY:

REGISTERED OFFICE:

7 Bourne Court

Southend Road

Woodford Green

Essex

IG8 8HD

REGISTERED NUMBER:

07327937 (England and Wales)

ACCOUNTANTS:

NWN Blue Squared Ltd

Chartered Certified Accountants

7 Bourne Court

Southend Road

Woodford Green

Essex

IG8 8HD

The director presents his report with the financial statements of the company for the year ended 31 December 2013.

DIRECTORS

V Vaitsis has held office during the whole of the period from 1 January 2013 to the date of this report.

Other changes in directors holding office are as follows:

M D Miller - appointed 5 June 2013 - resigned 14 October 2013

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating

to small companies.

ON BEHALF OF THE BOARD:

V Vaitsis - Director

29 September 2014

TURNOVER

1,632,923

961,803

Cost of sales

1,490,940

710,151

GROSS PROFIT

141,983

251,652

Administrative expenses

140,559

250,671

OPERATING PROFIT and

PROFIT ON ORDINARY ACTIVITIES BEFORE
TAXATION

2

1,424

981

Tax on profit on ordinary activities

3

-

PROFIT FOR THE FINANCIAL YEAR

1,424

981

Deficit brought forward

(1,316

)

(2,297

)

RETAINED PROFIT/(DEFICIT) CARRIED
FORWARD

108

(1,316

)

FIXED ASSETS

Tangible assets

4

999

-

CURRENT ASSETS

Stocks

46,250

63,750

Debtors

5

119,065

76,217

Cash at bank and in hand

19,747

8,653

185,062

148,620

CREDITORS

Amounts falling due within one year

6

13,194

143,135

NET CURRENT ASSETS

171,868

5,485

TOTAL ASSETS LESS CURRENT LIABILITIES

172,867

5,485

CREDITORS

Amounts falling due after more than one
year

7

172,758

6,800

NET ASSETS/(LIABILITIES)

109

(1,315

)

CAPITAL AND RESERVES

Called up share capital

8

1

Profit and loss account

108

(1,316

)

SHAREHOLDERS' FUNDS

109

(1,315

)

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 director acknowledges his 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 financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and with the Financial Reporting Standard for Smaller Entities (effective April 2008).

The financial statements were approved by the director on 29 September 2014 and were signed by:

V Vaitsis - 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.

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 etc

-

25% on cost

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

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.	OPERATING PROFIT

The operating profit is stated after charging:

2013

2012

£

Depreciation - owned assets

333

-

Directors' remuneration and other benefits etc

33,917

120,000

3.

TAXATION

Analysis of the tax charge

No liability to UK corporation tax arose on ordinary activities for the year ended 31 December 2013 nor for the

year ended 31 December 2012.

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

Additions

1,332

At 31 December 2013

1,332

DEPRECIATION

Charge for year

333

At 31 December 2013

333

NET BOOK VALUE

At 31 December 2013

999

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2013

2012

£

Trade debtors

73,946

56,217

Other debtors

45,119

20,000

119,065

76,217

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2013

2012

£

Trade creditors

3,752

11,332

Taxation and social security

5,957

128,468

Other creditors

3,485

3,335

13,194

143,135

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2013

2012

£

Other creditors

172,758

6,800

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2013

2012

value:

£

1

Ordinary

£1.00

1

9.	ULTIMATE PARENT COMPANY

Validata Holdings Ltd (incorporated in Cyprus ) is regarded by the director as being the company's ultimate

parent company.