Venus Computer Services Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 03054022 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2017

for

Venus Computer Services Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs A J Head

P Head

SECRETARY:

P Head

REGISTERED OFFICE:

93-94 West Street

Farnham

Surrey

GU9 7EB

REGISTERED NUMBER:

03054022 (England and Wales)

ACCOUNTANTS:

Blackwood Futcher & Co.

Chartered Accountants

9 St George's Yard

Farnham

Surrey

GU9 7LW

FIXED ASSETS

Tangible assets

4

5,702

8,649

CURRENT ASSETS

Debtors

5

19,709

12,715

Cash at bank

-

86

19,709

12,801

CREDITORS

Amounts falling due within one year

6

24,314

27,920

NET CURRENT LIABILITIES

(4,605

)

(15,119

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,097

(6,470

)

CREDITORS

Amounts falling due after more than one year

7

(2,991

)

(5,964

)

PROVISIONS FOR LIABILITIES

(1,084

)

(1,546

)

NET LIABILITIES

(2,978

)

(13,980

)

CAPITAL AND RESERVES

Called up share capital

4

4

Retained earnings

(2,982

)

(13,984

)

SHAREHOLDERS' FUNDS

(2,978

)

(13,980

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 in accordance with Section 476 of the Companies Act 2006.

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

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

The financial statements were approved by the Board of Directors on 22 December 2017 and were signed on its behalf by:

P Head - Director

1.	STATUTORY INFORMATION

Venus Computer Services 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.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

At the balance sheet date the company had net liabilities of £2,978. The ability of the company to continue to

trade is dependant upon the continuing support of the bank and the directors.

The directors are of the opinion that the company will continue to receive this support and on this basis

considers it appropriate to prepare the accounts on a going concern basis.

The financial statements do not include any adjustments that would result from the withdrawal of support by

the bank or its directors.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on cost

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 balance sheet date.

Deferred tax

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

balance sheet 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance

leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital

element of the future payments is treated as a liability.

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

lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2016 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 April 2016

and 31 March 2017

23,021

3,654

10,758

37,433

DEPRECIATION

At 1 April 2016

22,311

3,335

3,138

28,784

Charge for year

177

80

2,690

2,947

At 31 March 2017

22,488

3,415

5,828

31,731

NET BOOK VALUE

At 31 March 2017

533

239

4,930

5,702

At 31 March 2016

710

319

7,620

8,649

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 April 2016

and 31 March 2017

10,758

DEPRECIATION

At 1 April 2016

3,138

Charge for year

2,690

At 31 March 2017

5,828

NET BOOK VALUE

At 31 March 2017

4,930

At 31 March 2016

7,620

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Trade debtors

18,882

5,309

Other debtors

-

2,613

Taxation recoverable

-

3,053

Prepayments and accrued income

827

1,740

19,709

12,715

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Bank loans and overdrafts

1,307

2,617

Hire purchase contracts

2,973

2,973

Trade creditors

1,346

339

Taxation

1,744

11,217

Social security and other taxes

2,932

2,143

Other creditors

2,163

1,389

Directors' current accounts

10,749

6,242

Accrued expenses

1,100

1,000

24,314

27,920

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.17

31.3.16

£

£

Hire purchase contracts

2,991

5,964