Vale Internet Solutions Limited - Period Ending 2016-03-31

Registration number: 05051013

Vale Internet Solutions Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2016
 

Alwyn Thomas Limited
Glenaub House
Old School Rd
Porthcawl
Bridgend
CF36 3AW

Vale Internet Solutions Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Vale Internet Solutions Limited
for the Year Ended 31 March 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Vale Internet Solutions Limited for the year ended 31 March 2016 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance/.

This report is made solely to the Board of Directors of Vale Internet Solutions Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Vale Internet Solutions Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Vale Internet Solutions Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Vale Internet Solutions Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Vale Internet Solutions Limited. You consider that Vale Internet Solutions Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Vale Internet Solutions Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Alwyn Thomas Limited
Glenaub House
Old School Rd
Porthcawl
Bridgend
CF36 3AW

12 December 2016

Page 1

Vale Internet Solutions Limited
(Registration number: 05051013)
Abbreviated Balance Sheet at 31 March 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					2,718			1,531
Current assets
Debtors					21,098			20,748
Cash at bank and in hand					6,445			5,092
					27,543			25,840
Creditors: Amounts falling due within one year					(17,087)			(17,958)
Net current assets					10,456			7,882
Total assets less current liabilities					13,174			9,413
Creditors: Amounts falling due after more than one year					(7,500)			-
Net assets					5,674			9,413
Capital and reserves
Called up share capital		3			1			1
Profit and loss account					5,673			9,412
Shareholders' funds					5,674			9,413

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 director acknowledges his 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 December 2016

.........................................
R M Dymond
Director

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

Vale Internet Solutions Limited
Notes to the Abbreviated Accounts for the 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 amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

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 provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful life as follows:

Asset class	Amortisation method and rate
Goodwill	10% straight line

Depreciation

Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Asset class	Depreciation method and rate
Fixtures and fittings	20% straight line

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.

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

Vale Internet Solutions Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 April 2015		25,000			5,848			30,848
Additions		-			1,778			1,778
At 31 March 2016		25,000			7,626			32,626
Depreciation
At 1 April 2015		25,000			4,317			29,317
Charge for the year		-			591			591
At 31 March 2016		25,000			4,908			29,908
Net book value
At 31 March 2016		-			2,718			2,718
At 31 March 2015		-			1,531			1,531

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of £1 each		1			1			1			1

Page 4