Abbreviated Company Accounts - NEWVALE VENTURES LIMITED

NEWVALE VENTURES LIMITED - Company Information

Registered Number 03911191

NEWVALE VENTURES LIMITED

Abbreviated Accounts

31 March 2016

NEWVALE VENTURES LIMITED Registered Number 03911191

Abbreviated Balance Sheet as at 31 March 2016

	Notes	2016	2015
		£	£
Fixed assets
Tangible assets	2	22,258	5,646
		22,258	5,646
Current assets
Stocks		7,150	8,200
Debtors		93,940	157,620
Cash at bank and in hand		63,794	37,547
		164,884	203,367
Creditors: amounts falling due within one year		(155,235)	(195,605)
Net current assets (liabilities)		9,649	7,762
Total assets less current liabilities		31,907	13,408
Creditors: amounts falling due after more than one year		(13,404)	-
Total net assets (liabilities)		18,503	13,408
Capital and reserves
Called up share capital		2	2
Profit and loss account		18,501	13,406
Shareholders' funds		18,503	13,408

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 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.

Approved by the Board on 29 December 2016

And signed on their behalf by:
G P Prove, Director

NEWVALE VENTURES LIMITED Registered Number 03911191

Notes to the Abbreviated Accounts for the period ended 31 March 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover policy
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.

In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion

Tangible assets depreciation policy
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Plant & Machinery - 20% Straight Line
Fixtures & Fittings - 20% Straight Line
Motor Vehicles - 25% Reducing Balance

Valuation information and policy
Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

2Tangible fixed assets

	£
Cost
At 1 April 2015	37,500
Additions	24,800
Disposals	-
Revaluations	-
Transfers	-
At 31 March 2016	62,300
Depreciation
At 1 April 2015	31,854
Charge for the year	8,188
On disposals	-
At 31 March 2016	40,042
Net book values
At 31 March 2016	22,258
At 31 March 2015	5,646