Vulcatech Belting Ltd,Ltd - Accounts

VULCATECH BELTING LTD - Company Information

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Vulcatech Belting Ltd

For the year ended 31 July 2016

Unaudited Abbreviated Report and Financial Statements

England and Wales

Registered Number: 04811326

Contents Page

Vulcatech Belting Ltd

For the year ended 31 July 2016

Accountants' Report

Balance Sheet

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Notes to the Abbreviated Financial Statements

Vulcatech Belting Ltd

Accountants' Report

For the year ended 31 July 2016

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

Vulcatech Belting Ltd for the year ended 31 July 2016 which comprise the Profit and Loss Account, the Balance Sheet and

the related notes from the company's accounting records and from information and explanations you have given us.

As a practising firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other

professional requirements which are detailed at http://rulebook.accaglobal.com.

This report is made solely to the Board of Directors of Vulcatech Belting Ltd. Our work has been undertaken solely to

prepare for your approval the accounts of Vulcatech Belting Ltd and state those matters that we have agreed to state to the

Board of Directors of Vulcatech Belting Ltd, as a body, in this report in accordance with the requirements of the Association

of Chartered Certified Accountants and as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent

permitted by law, we do not accept or assume responsibility to anyone other than Vulcatech Belting Ltd and its Board of

Directors as a body for our work or for this report.

It is your duty to ensure that Vulcatech Belting Ltd 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 Vulcatech Belting Ltd. You consider that

Vulcatech Belting Ltd is exempt from the statutory audit requirement for the year.

Steve Pye & Co.

Chartered Certified Accountants

The Pink House

Estuary Road

King's Lynn

PE30 2HJ

12 December 2016

Dated:

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Abbreviated Balance Sheet

Vulcatech Belting Ltd

As at 31 July 2016

04811326

Registered Number :

2016

Notes

2015

Fixed assets

Tangible assets

234,096

227,813

234,096

227,813

Current assets

Stocks

118,369

374,689

Debtors

562,142

362,746

Cash at bank and in hand

216,305

67,504

953,740

748,015

Creditors: amounts falling due within one year

(403,631)

(420,291)

344,384

533,449

Net current assets

Total assets less current liabilities

767,545

572,197

Creditors: amounts falling due after more than one year

(19,294)

(30,475)

(45,816)

(40,210)

Provisions for liabilities

691,254

Net assets

512,693

Capital and reserves

Called up share capital

1,000

Profit and loss account

690,254

511,693

691,254

512,693

Shareholders funds

For the year ended 31 July 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors responsibilities: 1) The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476;

2) 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.

Date approved by the board: 12 December 2016

Mr Steven Andrew Pledger Director

Signed on behalf of the board of directors

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Notes to the Abbreviated Financial Statements

Vulcatech Belting Ltd

For the year ended 31 July 2016

1 Accounting Policies

Basis of accounting

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Operating lease rentals

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

Finance lease and hire purchase charges

The finance element of the rental payment is charged to the profit and loss account on a straight line basis.

Pension Costs

The company operates a defined contribution pension scheme for the benefit of its directors/and employees. Contributions

payable are charged to the profit and loss account in the period in which they are payable.

Deferred taxation

Deferred taxation arises when items are charged or credited in accounts in different periods to those in which they are included in the company's tax computations.Deferred tax is provided in full on timing differences that result in an obligation to pay more (or less) tax at a future date. Deferred tax is calculated at the average rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. The resulting deferred tax asset or liability is not discounted.

Dividends

Proposed dividends are only included as liabilities in the financial statements when their payment has been approved by the

shareholders prior to the balance sheet date.

Tangible fixed assets

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Improvements to property

15% Straight line

Plant and Machinery

15% Reducing balance

Computer Equipment

25% Reducing balance

Motor Vehicles

25% Reducing balance

Fixtures and Fittings

15% Reducing balance

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Notes to the Abbreviated Financial Statements

Vulcatech Belting Ltd

For the year ended 31 July 2016

Assets on finance lease and hire purchase

Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of

ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over

the shorter of the lease term and their estimated expected useful lives.

Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.

Stocks

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

2 Tangible fixed assets

Tangible fixed

assets

Cost or valuation

448,567

At 01 August 2015

84,547

Additions

(42,999)

Disposals

At 31 July 2016

490,115

Depreciation

220,754

At 01 August 2015

(23,196)

Disposals

58,461

Charge for year

256,019

At 31 July 2016

Net book values

At 31 July 2016

234,096

227,813

At 31 July 2015

Debtors include an amount of £5000 (2015: £5000) falling due after more than one year

3 Debtors:

4 Share capital

Allotted called up and fully paid

2016

2015

1,000 Ordinary shares of £1.00 each

1,000

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