Accounts filed on 31-12-2015

Accounts filed on 31-12-2015

VERVE PICTURES LIMITED - Company Information

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VERVE PICTURES LIMITED

Company Registration Number:
04696505 (England and Wales)

Abbreviated (Unaudited) Accounts

Period of accounts

Start date: 01 January 2015

End date: 31 December 2015

VERVE PICTURES LIMITED

Abbreviated Balance sheet

As at 31 December 2015


Notes
2015
£
2014
£
Fixed assets
Intangible assets: 0 0
Tangible assets: 2 433 676
Total fixed assets: 433 676
Current assets
Stocks: 46,548 40,711
Debtors: 3 133,904 143,534
Cash at bank and in hand: 1,649 1,360
Total current assets: 182,101 185,605
Creditors: amounts falling due within one year: 4 ( 450,274 ) ( 478,040 )
Net current assets (liabilities): ( 268,173 ) ( 292,435 )
Total assets less current liabilities: ( 267,740 ) ( 291,759 )
Creditors: amounts falling due after more than one year: 0 0
Provision for liabilities: 0 0
Total net assets (liabilities): ( 267,740 ) ( 291,759 )

The notes form part of these financial statements

VERVE PICTURES LIMITED

Balance sheet continued

As at 31 December 2015


Notes
2015
£
2014
£
Capital and reserves
Called up share capital: 5 90 90
Revaluation reserve: 0 0
Profit and loss account: ( 267,830 ) ( 291,849 )
Shareholders funds: ( 267,740 ) ( 291,759 )

For the year ending 31 December 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 and in accordance with the Financial Reporting Standard for Smaller Entities 2015.

The financial statements were approved by the Board of Directors on 30 September 2016

SIGNED ON BEHALF OF THE BOARD BY:

Name: Colin Burch
Status: Director

The notes form part of these financial statements

VERVE PICTURES LIMITED

Notes to the Abbreviated Accounts

for the Period Ended 31 December 2015

  • 1. Accounting policies

    Basis of measurement and preparation of accounts

    The accounts have been prepared under the historical cost convention and in accordance with the
    Financial Reporting Standard for Smaller Entities (effective April 2008).

    Turnover policy

    Turnover compromises of revenue recognised by the company in respect of goods and services
    supplied during the year, exclusive of Value Added Tax and trade discounts.

    Tangible fixed assets depreciation policy

    All assets are initially recorded at cost. Depreciation is calculated as to write off the cost of an asset,
    less its estimated residual value, over the useful economic life of that asset. Depreciation is charged
    at 20% reducing balance.

    Intangible fixed assets amortisation policy

    The company does not hold any intangible assets.

    Valuation information and policy

    Stocks are valued at the lower of cost and net realisable value after making due allowance for
    obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of
    fixed and variable overheads.

VERVE PICTURES LIMITED

Notes to the Abbreviated Accounts

for the Period Ended 31 December 2015

  • 2. Tangible assets

    Total
    Cost £
    01 January 2015: 1,625
    Additions: 0
    Disposals: 0
    Revaluations: 0
    Transfers: 0
    31 December 2015: 1,625
    Depreciation
    01 January 2015: 949
    Charge for year: 243
    On disposals: 0
    Other adjustments: 0
    31 December 2015: 1,192
    Net book value
    31 December 2015: 433
    31 December 2014: 676

VERVE PICTURES LIMITED

Notes to the Abbreviated Accounts

for the Period Ended 31 December 2015

  • 3. Debtors


    2015
    £
    2014
    £
    Trade debtors: 49,845 65,715
    Prepayments and accrued income: 18,735 18,921
    Other debtors: 65,324 58,898
    Total: 133,904 143,534

VERVE PICTURES LIMITED

Notes to the Abbreviated Accounts

for the Period Ended 31 December 2015

  • 4. Creditors: amounts falling due within one year


    2015
    £
    2014
    £
    Bank loans and overdrafts: 23,237 61,636
    Amounts due under finance leases and hire purchase contracts: 0 0
    Trade creditors: 112,799 126,736
    Taxation and social security: 496 723
    Accruals and deferred income: 54,904 27,306
    Other creditors: 258,838 261,639
    Total: 450,274 478,040

VERVE PICTURES LIMITED

Notes to the Abbreviated Accounts

for the Period Ended 31 December 2015

  • 5. Called up share capital

    Allotted, called up and paid

    Previous period
    2014
    Class Number of shares Nominal value per share (£) Total (£)
    Ordinary shares: 90 1.00 90
    Preference shares: 0 0.00 0
    Total share capital (£): 90
    Current period
    2015
    Class Number of shares Nominal value per share (£) Total (£)
    Ordinary shares: 90 1.00 90
    Preference shares: 0 0.00 0
    Total share capital (£): 90

VERVE PICTURES LIMITED

Notes to the Abbreviated Accounts

for the Period Ended 31 December 2015

  • 6. Related party disclosures

    Name of the ultimate controlling party during the period: Colin Burch
    Name of related party: Drakes Avenue Pictures Ltd
    Relationship: Director of Drakes Avenue Picture Ltd
    Description of the transaction Loan to Drakes Avenue Pictures Ltd, a company of which C Burch is also a director.
    Balance at 01 January 2015 5,585
    Balance at 31 December 2015 7,631
    Name of related party: Colin Burch
    Relationship: Director of Rabbit Publicity Ltd
    Description of the transaction Loan to Rabbit Publicity Ltd, a company of which C Burch is also a director.
    Balance at 01 January 2015 51,849
    Balance at 31 December 2015 53,329