VSO Models UK Limited - Period Ending 2016-01-31

Registration number: SC495167

VSO Models UK Limited

Unaudited Abbreviated Accounts

for the Period from 15 January 2015 to 31 January 2016

 

A9 Accountancy Limited
Chartered Accountants
Elm House
Cradlehall Business Park
Inverness
IV2 5GH

VSO Models UK Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

VSO Models UK Limited
(Registration number: SC495167)
Abbreviated Balance Sheet at 31 January 2016

		Note			31 January 2016 £
Fixed assets
Tangible fixed assets					191
Current assets
Debtors					2,383
Creditors: Amounts falling due within one year					(12,102)
Net current liabilities					(9,719)
Net liabilities					(9,528)
Capital and reserves
Called up share capital		3			1
Profit and loss account					(9,529)
Shareholders' deficit					(9,528)

For the year ending 31 January 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 director acknowledges her 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 director on 12 October 2016

.........................................
Ms Christine Ann De Agostini
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

VSO Models UK Limited
Notes to the Abbreviated Accounts for the Period from 15 January 2015 to 31 January 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).

Going concern

The accounts have been prepared on a going concern basis as the director will continue to support the company for a period of no less than 12 months.

Turnover

Turnover represents amounts chargeable in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Office equipment	15% Reducing balance basis

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 2

VSO Models UK Limited
Notes to the Abbreviated Accounts for the Period from 15 January 2015 to 31 January 2016
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
Additions		225			225
At 31 January 2016		225			225
Depreciation
Charge for the period		34			34
At 31 January 2016		34			34
Net book value
At 31 January 2016		191			191

3	Share capital

Allotted, called up and fully paid shares
					2016
					No.	£
Ordinary shares of	£0.00025	each			4,000	1
					4,000	1

Page 3