Rural Vision Limited - Period Ending 2016-03-31

 
 
 
 
 
 
 
  Rural Vision Limited
 
  Unaudited Abbreviated Accounts
  Year Ended 31 March 2016
 
  Company Registration Number: 04660574

Rural Vision Limited
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 4

Rural Vision Limited
Abbreviated Balance Sheet
31 March 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets		2			36,856			35,107
Current assets
Debtors					258,611			348,062
Cash at bank and in hand					89,101			176,111
					347,712			524,173
Creditors: Amounts falling due within one year					(241,590)			(196,252)
Net current assets					106,122			327,921
Net assets					142,978			363,028
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					142,878			362,928
Shareholders' funds					142,978			363,028

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 1

Rural Vision Limited
Abbreviated Balance Sheet
31 March 2016 ......... continued

For the year ending 31 March 2016 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 15 September 2016 and signed on its behalf by:

AW Fortescue
Director

SN Fowler
Director

Company Registration Number: 04660574

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Rural Vision Limited
Notes to the Abbreviated Accounts
Year Ended 31 March 2016 ......... continued

1	Accounting policies

Basis of preparation

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 January 2015).

Turnover

Turnover represents the fair value of consideration receivable, excluding Value Added Tax, in the ordinary course of business for goods and services provided. In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Asset class	Amortisation method and rate
Goodwill	Straight line over 5 years

Depreciation

All fixed assets are initially recorded at cost.

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Asset class	Depreciation method and rate
Leasehold Property	5% per annum straight line
Plant & Machinery	15% per annum reducing balance

Hire purchase and leasing

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.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

Page 3

Rural Vision Limited
Notes to the Abbreviated Accounts
Year Ended 31 March 2016 ......... continued

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 April 2015		650,000			58,855			708,855
Additions		-			7,683			7,683
At 31 March 2016		650,000			66,538			716,538
Depreciation
At 1 April 2015		650,000			23,748			673,748
Charge for the year		-			5,934			5,934
At 31 March 2016		650,000			29,682			679,682
Net book value
At 31 March 2016		-			36,856			36,856
At 31 March 2015		-			35,107			35,107

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of £0.01 (2015 - £1) each		10,000			100			100			100

During the year the £100 shares in issue was subdivided into 10,000 shares of £0.01 each.

4	Related party transactions

Directors' advances and credits

	2016 Advance/ Credit £	2016 Repaid £	2015 Advance/ Credit £	2015 Repaid £
AW Fortescue
Interest free loan, repayable on demand	75,820	135,499	66,838	7,159
SN Fowler
Interest free loan, repayable on demand	85,210	157,771	268,824	211,110

Page 4