Vacant Space Management Ltd - Period Ending 2016-10-31

Registration number: 07538847

Vacant Space Management Ltd

Unaudited Abbreviated Accounts

for the Year Ended 31 October 2016
 

KRW Accountants Limited
Chartered Accountants & Tax Advisers
The Mill
Pury Hill Business Park
Alderton Road
Towcester
NN12 7LS

Vacant Space Management Ltd
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 5

Vacant Space Management Ltd
(Registration number: 07538847)
Abbreviated Balance Sheet at 31 October 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					101,505			15,699
Current assets
Debtors					583,384			396,140
Cash at bank and in hand					125,253			335,858
					708,637			731,998
Creditors: Amounts falling due within one year					(583,142)			(447,512)
Net current assets					125,495			284,486
Net assets					227,000			300,185
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					226,900			300,085
Shareholders' funds					227,000			300,185

For the year ending 31 October 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 .

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 1

Vacant Space Management Ltd
(Registration number: 07538847)
Abbreviated Balance Sheet at 31 October 2016
......... continued

Approved by the Board on 23 August 2017 and signed on its behalf by:

.........................................
Mr Richard Nicholas Artus
Director

.........................................
Mr Anthony Rosenberg
Director

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 2

Vacant Space Management Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 October 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.

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
Office equipment	25% reducing balance
Fixtures & fittings	25% reducing balance

Hire purchase and leasing

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 3

Vacant Space Management Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 October 2016
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 November 2015		26,042			26,042
Additions		119,642			119,642
At 31 October 2016		145,684			145,684
Depreciation
At 1 November 2015		10,343			10,343
Charge for the year		33,836			33,836
At 31 October 2016		44,179			44,179
Net book value
At 31 October 2016		101,505			101,505
At 31 October 2015		15,699			15,699

3	Share capital

Allotted, called up and fully paid shares

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

Page 4

Vacant Space Management Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 October 2016
......... continued

4	Related party transactions

Directors' advances and credits

	2016 Advance/ Credit £	2016 Repaid £	2015 Advance/ Credit £	2015 Repaid £
Mr Richard Nicholas Artus
Amounts withdrawn during the period	100,280	81,279	79,433	37,676
Interest on overdrawn director's loan	2,786	-	1,846	-
	103,066	81,279	81,279	37,676
Mr Anthony Rosenberg
Amounts withdrawn during the period	70,994	77,134	75,355	37,464
Interest on overdrawn director's loan	2,267	-	1,779	-
	73,261	77,134	77,134	37,464

Page 5