VORTICITY_LIMITED - Accounts

VORTICITY LIMITED - Company Information

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Company Registration No. 04309092 (England and Wales)

VORTICITY LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2016

VORTICITY LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

VORTICITY LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 OCTOBER 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

16,046

27,476

Current assets

Debtors

379,685

345,504

Cash at bank and in hand

448,685

448,689

828,370

794,193

Creditors: amounts falling due within one year

(620,320)

(496,934)

Net current assets

208,050

297,259

Total assets less current liabilities

224,096

324,735

Capital and reserves

Called up share capital

52,000

Profit and loss account

172,096

272,735

Shareholders' funds

224,096

324,735

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 31 January 2017

J S Lingard

Director

Company Registration No. 04309092

VORTICITY LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 OCTOBER 2016

- 2 -

Accounting policies

1.1

Accounting convention

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

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

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Plant and machinery

25% staight line basis

Fixtures, fittings & equipment

25% straight line basis

Computer equipment

25% straight line basis

1.5

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.

Fixed assets

Tangible assets

Cost

At 1 November 2015 & at 31 October 2016

109,668

Depreciation

At 1 November 2015

78,994

Charge for the year

14,628

At 31 October 2016

93,622

Net book value

At 31 October 2016

16,046

At 31 October 2015

27,476

VORTICITY LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 OCTOBER 2016

- 3 -

Share capital

2016

2015

Allotted, called up and fully paid

52,000 Ordinary of £1 each

52,000

Related party relationships and transactions

Transactions in relation to loans with directors during the year are outlined in the table below:

Description

% Rate

Opening Balance

Amounts Advanced

Interest Charged

Amounts Repaid

Closing Balance

J S Lingard -

6,019

17,283

8,360

14,942

Anglian Enterprises Limited -

21,550

27,569

17,283

8,360

36,492