Vidoflex U.K. Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 04205280 (England and Wales)

Vidoflex U.K. Limited

Audited Financial Statements for the Year Ended 31 March 2017

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTOR:

R A F Lloyd

REGISTERED OFFICE:

4 King Square

Bridgwater

Somerset

TA6 3YF

REGISTERED NUMBER:

04205280 (England and Wales)

AUDITORS:

Maxwells

Chartered Accountants

and Statutory Auditor

4 King Square

Bridgwater

Somerset

TA6 3YF

BANKERS:

Lloyds Bank plc

25 Cornhill

Bridgwater

Somerset

TA6 3AY

FIXED ASSETS

Tangible assets

4

1

1

CURRENT ASSETS

Stocks

39,363

32,534

Debtors

86,985

78,783

Cash at bank

728

2,661

127,076

113,978

CREDITORS

Amounts falling due within one year

42,620

23,606

NET CURRENT ASSETS

84,456

90,372

TOTAL ASSETS LESS CURRENT LIABILITIES

84,457

90,373

CREDITORS

Amounts falling due after more than one year

5

288,613

288,613

NET LIABILITIES

(204,156

)

(198,240

)

CAPITAL AND RESERVES

Called up share capital

150,000

150,000

Retained earnings

(354,156

)

(348,240

)

SHAREHOLDERS' FUNDS

(204,156

)

(198,240

)

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Statement of Comprehensive Income and an abridged Statement of Financial Position for the year ended 31 March 2017 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 29 November 2017 and were signed by:

R A F Lloyd - Director

1.	STATUTORY INFORMATION

Vidoflex U.K. Limited is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared in accordance with applicable accounting standards and estimation

techniques.

The financial statements have been prepared on a going concern basis which assumes the continued support of

the company's main creditor; a partnership in which some of the shareholders have an interest. There is no

intention to require payment of this debt in the foreseeable future.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

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 etc

-

20% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the statement of financial position date.

Deferred tax

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

statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of

exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the

operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2016

and 31 March 2017

1,914

DEPRECIATION

At 1 April 2016

and 31 March 2017

1,913

NET BOOK VALUE

At 31 March 2017

1

At 31 March 2016

1

5.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

31.3.17

31.3.16

£

£

Repayable otherwise than by instalments

Other loans

288,613

288,613

6.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Nigel Blannin (Senior Statutory Auditor)

for and on behalf of Maxwells

7.	RELATED PARTY DISCLOSURES

The company owes £288,613 (2016: £288,613) to a partnership in which the shareholders have an interest. This

amount is included in long-term other loans.

The company also is owed £58,605 (2016: £42,937) by Air Conditioning Group Limited, a company controlled

by the director.

8.	ULTIMATE CONTROLLING PARTY

The company was controlled throughout the current and previous periods by R A F Lloyd, a director.