VSN Developments Limited - Filleted accounts

VSN Developments Limited - Filleted accounts

VSN DEVELOPMENTS LIMITED - Company Information

Print Friendly Version

Registered number
08844270
VSN Developments Limited
Filleted Accounts
31 January 2017
VSN Developments Limited
Registered number: 08844270
Balance Sheet
as at 31 January 2017
Notes 2017 2016
£ £
Fixed assets
Tangible assets 3 2,813 3,750
Current assets
Debtors 4 - 1,998
Cash at bank and in hand 1,700 392
1,700 2,390
Creditors: amounts falling due within one year 5 (7,544) (7,794)
Net current liabilities (5,844) (5,404)
Net liabilities (3,031) (1,654)
Capital and reserves
Called up share capital 100 100
Profit and loss account (3,131) (1,754)
Shareholder's funds (3,031) (1,654)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr V Nagi
Director
Approved by the board on 28 October 2017
VSN Developments Limited
Notes to the Accounts
for the year ended 31 January 2017
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor vehicles 25% Reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods.
2 Employees 2017 2016
Number Number
Average number of persons employed by the company 1 -
3 Tangible fixed assets
Motor vehicles
£
Cost
At 1 February 2016 5,000
At 31 January 2017 5,000
Depreciation
At 1 February 2016 1,250
Charge for the year 937
At 31 January 2017 2,187
Net book value
At 31 January 2017 2,813
At 31 January 2016 3,750
4 Debtors 2017 2016
£ £
Trade debtors - 1,630
Other debtors - 368
- 1,998
5 Creditors: amounts falling due within one year 2017 2016
£ £
Trade creditors 111 -
Other taxes and social security costs 62 -
Other creditors 7,371 7,794
7,544 7,794
6 Other information
VSN Developments Limited is a private company limited by shares and incorporated in England. Its registered office is:
20 Hollin Hill Avenue
Leeds
LS8 2PP
VSN Developments Limited 08844270 false 2016-02-01 2017-01-31 2017-01-31 VT Final Accounts May 2017 release 3 Mr V Nagi No description of principal activity 08844270 2015-02-01 2016-01-31 08844270 core:WithinOneYear 2016-01-31 08844270 core:ShareCapital 2016-01-31 08844270 core:RetainedEarningsAccumulatedLosses 2016-01-31 08844270 2016-02-01 2017-01-31 08844270 bus:PrivateLimitedCompanyLtd 2016-02-01 2017-01-31 08844270 bus:AuditExemptWithAccountantsReport 2016-02-01 2017-01-31 08844270 bus:Director40 2016-02-01 2017-01-31 08844270 1 2016-02-01 2017-01-31 08844270 2 2016-02-01 2017-01-31 08844270 core:Vehicles 2016-02-01 2017-01-31 08844270 countries:England 2016-02-01 2017-01-31 08844270 bus:FRS102 2016-02-01 2017-01-31 08844270 bus:FullAccounts 2016-02-01 2017-01-31 08844270 2017-01-31 08844270 core:WithinOneYear 2017-01-31 08844270 core:ShareCapital 2017-01-31 08844270 core:RetainedEarningsAccumulatedLosses 2017-01-31 08844270 core:Vehicles 2017-01-31 08844270 2016-01-31 08844270 core:Vehicles 2016-01-31 iso4217:GBP xbrli:pure