Virtuoso Developments Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 09904112 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 7 DECEMBER 2015 TO 30 NOVEMBER 2016

FOR

VIRTUOSO DEVELOPMENTS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

D Rose

Mrs A J M Rose

REGISTERED OFFICE:

Indigo House

Mulberry Business Park

Fishponds Road

Wokingham

Berkshire

RG41 2GY

REGISTERED NUMBER:

09904112 (England and Wales)

ACCOUNTANTS:

Haines Watts

Advantage

87 Castle Street

Reading

Berkshire

RG1 7SN

FIXED ASSETS

Tangible assets

2

8,767

CURRENT ASSETS

Stocks

232,683

Debtors

3

63,888

Cash at bank

4,973

301,544

CREDITORS

Amounts falling due within one year

4

327,497

NET CURRENT LIABILITIES

(25,953

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(17,186

)

CAPITAL AND RESERVES

Called up share capital

6

100

Profit and loss account

7

(17,286

)

SHAREHOLDERS' FUNDS

(17,186

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 November 2016.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 November 2016 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.

The financial statements were approved and authorised for issue by the Board of Directors on 12 January 2018 and were signed on its behalf by:

D J Rose - 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 goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Plant and machinery etc

-

33% on cost and 20% on cost

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Deferred tax

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

the balance sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis

over the period of the lease.

Going concern

The balance sheet shows a deficiency of assets at the balance sheet date. The directors have

indicated that they will continue to support the company to meet its obligations as they fall due for a

period of at least twelve months.

2.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

Additions

10,750

At 30 November 2016

10,750

DEPRECIATION

Charge for period

1,983

At 30 November 2016

1,983

NET BOOK VALUE

At 30 November 2016

8,767

3.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade debtors

36,597

Other debtors

27,291

63,888

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade creditors

43,691

Other creditors

283,806

327,497

5.

LOANS

An analysis of the maturity of loans is given below:

£

Amounts falling due within one year or on demand:

Other loans

83,413

6.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

value:

£

100

Share capital 1

1

100

100 Ordinary shares of 1 each were allotted at par during the period.

Shares were issued on incorporation.

7.

RESERVES

Profit

and loss

account

£

Deficit for the period

(17,286

)

At 30 November 2016

(17,286

)

8.	RELATED PARTY DISCLOSURES

D Rose

Director

During the year D J Rose provided a loan to the company.

£

Amount due to related party at the balance sheet date

161,396

Counterpoint Management Limited

A company under common control.

During the year the company received a loan from Counterpoint Management Limited.

£

Amount due to related party at the balance sheet date

83,413

9.	ULTIMATE CONTROLLING PARTY

The controlling party is D J Rose.