V F PRINT SERVICES LIMITED - Accounts to registrar - small 16.3d

REGISTERED NUMBER: 06829937 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2016

for

V F PRINT SERVICES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

8

DIRECTOR:

Mrs V Fahy

REGISTERED OFFICE:

Enterprise House

The Courtyard

Old Courthouse Road

Bromborough

Merseyside

CH62 4UE

BUSINESS ADDRESS:

Unit 1

Pinfold Work Shop

Pinfold Lane

Buckley

CH7 3PL

REGISTERED NUMBER:

06829937 (England and Wales)

ACCOUNTANTS:

LBW Chartered Accountants

Enterprise House

The Courtyard

Old Courthouse Road

Bromborough

Merseyside

CH62 4UE

FIXED ASSETS

Intangible assets

4

9,875

10,500

Tangible assets

5

244,297

277,265

254,172

287,765

CURRENT ASSETS

Stocks

8,017

8,017

Debtors

6

328,304

332,176

Cash at bank and in hand

572

408

336,893

340,601

CREDITORS

Amounts falling due within one year

7

300,985

327,467

NET CURRENT ASSETS

35,908

13,134

TOTAL ASSETS LESS CURRENT LIABILITIES

290,080

300,899

CREDITORS

Amounts falling due after more than one year

8

241,783

258,797

NET ASSETS

48,297

42,102

CAPITAL AND RESERVES

Called up share capital

10

1,000

1,000

Retained earnings

11

47,297

41,102

SHAREHOLDERS' FUNDS

48,297

42,102

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 21 November 2016 and were signed by:

Mrs V Fahy - Director

1.	STATUTORY INFORMATION

V F PRINT SERVICES LIMITED is a private company, limited by shares , registered in England and

Wales. The company's registered number and registered office address can be found on the Company

Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

25% on reducing balance, 20% on reducing balance and 5% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

The directors consider it unnecessary to provide for deferred taxation as there is no intention to sell

any assets in the foreseeable future.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet.

Those held under hire purchase contracts are depreciated over their estimated useful lives. Those

held under finance leases are depreciated over their estimated useful lives or the lease term,

whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The

capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the

period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2015

and 31 March 2016

15,000

AMORTISATION

At 1 April 2015

4,500

Charge for year

625

At 31 March 2016

5,125

NET BOOK VALUE

At 31 March 2016

9,875

At 31 March 2015

10,500

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2015

307,820

Additions

258,374

Disposals

(299,666

)

At 31 March 2016

266,528

DEPRECIATION

At 1 April 2015

30,555

Charge for year

15,718

Eliminated on disposal

(24,042

)

At 31 March 2016

22,231

NET BOOK VALUE

At 31 March 2016

244,297

At 31 March 2015

277,265

Fixed assets, included in the above, which are held under hire purchase contracts and finance leases

are as follows:

Plant and

machinery

etc

£

COST

At 1 April 2015

283,000

Additions

244,374

Transfer to ownership

(283,000

)

At 31 March 2016

244,374

DEPRECIATION

At 1 April 2015

17,150

Charge for year

12,218

Transfer to ownership

(12,650

)

At 31 March 2016

16,718

NET BOOK VALUE

At 31 March 2016

227,656

At 31 March 2015

265,850

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.16

31.3.15

£

£

Trade debtors

175,781

192,514

Other debtors

152,523

139,662

328,304

332,176

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.16

31.3.15

£

£

Bank loans and overdrafts

5,345

12,788

Hire purchase contracts and finance leases

51,812

65,980

Trade creditors

156,707

152,850

Taxation and social security

47,762

33,165

Other creditors

39,359

62,684

300,985

327,467

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.16

31.3.15

£

£

Hire purchase contracts and finance leases

112,121

110,433

Other creditors

129,662

148,364

241,783

258,797

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.16

31.3.15

£

£

Hire purchase contracts and finance leases

163,933

176,413

Invoice financing

126,729

141,031

290,662

317,444

Included within other creditors is an amount of £126,729 in respect of sales invoice discounting. This

amount is secured over specific book debts.

The hire purchase creditor are secured on the individual assets to which they relate.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.16

31.3.15

value:

£

£

1,000

Ordinary

£1

1,000

1,000

11.

RESERVES

Retained

earnings

£

At 1 April 2015

41,102

Profit for the year

66,750

Dividends

(60,555

)

At 31 March 2016

47,297

12.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Included in other debtors as at the balance sheet date is an amount of £83,023 (2015 - £60,339) which

is owed by Mr & Mrs Fahy in respect of their directors loan account.

13.	RELATED PARTY DISCLOSURES

During the year dividends amounting £60,555 were paid to Mr & Mrs Fahy.

14.	ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.

The following reproduces the text of the report prepared for the director and members in respect of

the company's annual unaudited financial statements. In accordance with the Companies Act 2006,

the company is only required to file a Balance Sheet. Readers are cautioned that the Income

Statement and certain other primary statements and the Report of the Director are not required to be

filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval

the financial statements of V F PRINT SERVICES LIMITED for the year ended 31 March 2016 which

comprise the Income Statement, Balance Sheet and the related notes 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of V F PRINT SERVICES LIMITED in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of V F PRINT SERVICES LIMITED and state those matters that we have agreed to state to the director of V F PRINT SERVICES LIMITED in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than V F PRINT SERVICES LIMITED director for our work or for this report.

It is your duty to ensure that V F PRINT SERVICES LIMITED has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of V F PRINT SERVICES LIMITED. You consider that V F PRINT SERVICES 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 financial statements of V F PRINT SERVICES 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 financial statements.

LBW Chartered Accountants

Enterprise House

The Courtyard

Old Courthouse Road

Bromborough

Merseyside

CH62 4UE

21 November 2016