VGates Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 03573673 (England and Wales)

VGATES LIMITED

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 30 DECEMBER 2015

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

G Gothold

REGISTERED OFFICE:

923 Finchley Road

Golders Green

London

NW11 7PE

REGISTERED NUMBER:

03573673 (England and Wales)

ACCOUNTANTS:

Joseph Kahan Associates LLP

Chartered Accountants

923 Finchley Road

London

NW11 7PE

FIXED ASSETS

Tangible assets

2

2,544

3,530

CURRENT ASSETS

Debtors

85,967

61,419

Cash at bank

1,210

21,313

87,177

82,732

CREDITORS

Amounts falling due within one year

85,970

86,151

NET CURRENT ASSETS/(LIABILITIES)

1,207

(3,419

)

TOTAL ASSETS LESS CURRENT LIABILITIES

3,751

111

CAPITAL AND RESERVES

Called up share capital

3

100

100

Profit and loss account

3,651

11

SHAREHOLDERS' FUNDS

3,751

111

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 December 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 December 2015 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 23 January 2017 and were signed by:

G Gothold - Director

1.	ACCOUNTING POLICIES

Accounting convention

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

Turnover represents net interest receivable on loans advanced.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

50% on cost

Fixtures and fittings

-

25% on reducing balance

Computers

-

33.33% on cost

Deferred tax

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

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 31 December 2014

35,593

Additions

850

At 30 December 2015

36,443

DEPRECIATION

At 31 December 2014

32,063

Charge for year

1,836

At 30 December 2015

33,899

NET BOOK VALUE

At 30 December 2015

2,544

At 30 December 2014

3,530

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

100

Ordinary

£1

100

100

4.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES