The Voigt Partnership Limited - Period Ending 2016-07-31

Registration number: SC380679

The Voigt Partnership Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 July 2016
 

The Voigt Partnership Limited
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 4

The Voigt Partnership Limited
(Registration number: SC380679)
Abbreviated Balance Sheet at 31 July 2016

		Note			2016 £			2015 £
Fixed assets
Intangible fixed assets					840,000			900,000
Tangible fixed assets					289,148			314,361
Investments					264,000			-
					1,393,148			1,214,361
Current assets
Stocks					70,075			138,969
Debtors					38,686			126,751
Cash at bank and in hand					39			105
					108,800			265,825
Creditors: Amounts falling due within one year					(344,242)			(273,580)
Net current liabilities					(235,442)			(7,755)
Total assets less current liabilities					1,157,706			1,206,606
Provisions for liabilities					(1,160)			(2,469)
Net assets					1,156,546			1,204,137
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					1,156,446			1,204,037
Shareholders' funds					1,156,546			1,204,137

For the year ending 31 July 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 16 January 2017 and signed on its behalf by:

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 1

The Voigt Partnership Limited
(Registration number: SC380679)
Abbreviated Balance Sheet at 31 July 2016
......... continued

.........................................
H W Voigt
Director

.........................................
J Cullen
Director

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

The Voigt Partnership Limited
Notes to the Abbreviated Accounts for the Year Ended 31 July 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 economic life as follows:

Asset class	Amortisation method and rate
Goodwill	5% on cost

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Fixtures, fittings and equipment	20% on cost
Improvements to property	5% on cost

Fixed asset investments

Fixed asset investments are stated at historical cost less provision for any diminution in value.

Work in progress

Work in progress is valued at the lower of cost and net realisable value.

Deferred tax

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

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.

Page 3

The Voigt Partnership Limited
Notes to the Abbreviated Accounts for the Year Ended 31 July 2016
......... continued

2	Fixed assets

		Intangible assets £			Tangible assets £			Investments £			Total £
Cost
At 1 August 2015		1,200,000			410,721			-			1,610,721
Additions		-			607			264,000			264,607
At 31 July 2016		1,200,000			411,328			264,000			1,875,328
Depreciation
At 1 August 2015		300,000			96,360			-			396,360
Charge for the year		60,000			25,820			-			85,820
At 31 July 2016		360,000			122,180			-			482,180
Net book value
At 31 July 2016		840,000			289,148			264,000			1,393,148
At 31 July 2015		900,000			314,361			-			1,214,361

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100

Page 4