VUTURE_LTD - Accounts
VUTURE_LTD - Accounts
Company Registration No. 05641029 (England and Wales)
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2016
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 5
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
Investments
2
Current assets
Debtors
Cash at bank and in hand
Creditors: amounts falling due within one year
(864,125 )
(469,732 )
Net current assets
Total assets less current liabilities
Provisions for liabilities
(5,780 )
(8,103 )
4,953,197
2,967,462
Capital and reserves
Called up share capital
3
Other reserves
Profit and loss account
Shareholders' funds
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2016
- 2 -
Directors' responsibilities:
-
-
Approved by the Board for issue on 22 December 2016
Director
Company Registration No. 05641029
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016
- 3 -
1
Accounting policies
1.1
Basis of accounting
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
41.39% of the company's turnover (2015 - 30.54%) is attributable to geographical markets outside the United Kingdom.
1.4
Tangible fixed assets and depreciation
Equipment
Fixtures and fittings
1.5
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.
1.6
Investments
Fixed asset investments are stated at cost less provision for diminution in value.
1.7
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax.
Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
1.8
Foreign currency translation
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2016
1
Accounting policies
(Continued)
- 4 -
1.9
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
2
Fixed assets
Tangible assets
Investments
Total
£
£
£
Cost
At 1 April 2015
62
91,898
Additions
-
5,338
At 31 March 2016
62
97,236
Depreciation
At 1 April 2015
-
51,320
Charge for the year
-
16,954
At 31 March 2016
-
68,274
Net book value
At 31 March 2016
28,962
At 31 March 2015
40,578
The company owns 100% of the issued share capital of the company listed below,
2016 2015
£ £
Aggregate capital and reserves
Vuture US Inc 119,150 23,911
Profit and (loss) for the year
Vuture US Inc 97,139 61,009
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2016
- 5 -
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid