Young Velocity Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: SC481979 (Scotland)

Abbreviated Unaudited Accounts

for the Year Ended 31 July 2016

for

Young Velocity Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

Mr G Young

REGISTERED OFFICE:

7 Berryhill Place

Skene

Westhill

AB32 6BG

REGISTERED NUMBER:

SC481979 (Scotland)

ACCOUNTANTS:

SJD Accountancy Scotland

3rd Floor

116 Dundas Street

Edinburgh

EH3 5DQ

CURRENT ASSETS

Debtors

8,522

150

Cash at bank

39,645

41,648

48,167

41,798

CREDITORS

Amounts falling due within one year

25,892

27,969

NET CURRENT ASSETS

22,275

13,829

TOTAL ASSETS LESS CURRENT LIABILITIES

22,275

13,829

CAPITAL AND RESERVES

Called up share capital

2

10

10

Profit and loss account

22,265

13,819

SHAREHOLDERS' FUNDS

22,275

13,829

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2016 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 27 April 2017 and were signed by:

Mr G Young - 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 invoiced sales of services, excluding value added tax.

DEFERRED TAX

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

balance sheet date.

2.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.7.16

31.7.15

value:

£

£

10

Ordinary

£1

10

10

3.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES