Abbreviated Company Accounts - VUTURE LTD

05641029 VUTURE LTD 2014-03-31 false 2013-04-01 2014-03-31 true 05641029 2013-04-01 2014-03-31 05641029 2014-03-31 05641029 2013-03-31 05641029 uk-gaap-cd-bus:Director1 2013-04-01 2014-03-31 05641029 uk-gaap-cd-bus:Director2 2013-04-01 2014-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-04-01 2014-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-03-31 iso4217:GBP shares

Registered Number 05641029

VUTURE LTD

Abbreviated Accounts

31 March 2014

VUTURE LTD Registered Number 05641029

Abbreviated Balance Sheet as at 31 March 2014

	Notes	2014	2013
		£	£
Fixed assets
Tangible assets	2	22,276	10,360
Investments	3	62	62
		22,338	10,422
Current assets
Debtors	4	1,327,791	877,742
Cash at bank and in hand		986,282	750,886
		2,314,073	1,628,628
Creditors: amounts falling due within one year		(112,334)	(104,524)
Net current assets (liabilities)		2,201,739	1,524,104
Total assets less current liabilities		2,224,077	1,534,526
Creditors: amounts falling due after more than one year		-	(49,381)
Provisions for liabilities		(5,123)	(2,072)
Total net assets (liabilities)		2,218,954	1,483,073
Capital and reserves
Called up share capital	5	2,000	2,000
Other reserves		79	79
Profit and loss account		2,216,875	1,480,994
Shareholders' funds		2,218,954	1,483,073

For the year ending 31 March 2014 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.

Approved by the Board on 18 December 2014

And signed on their behalf by:
MR T. S. UNAL, Director

VUTURE LTD Registered Number 05641029

Notes to the Abbreviated Accounts for the period ended 31 March 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of VAT.

56.17% of the company's turnover (2013 - 12.24%) is attributable to geographical markets outside the United Kingdom.

Tangible assets depreciation policy
All fixed assets are initially recorded at cost.

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Fixtures and Fittings - 25% straight line
Equipment - 25% straight line

Other accounting policies
Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occured at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax.

Deferred tax is measured on an undiscounted basis at the tax rates that are expect to apply in the periods in which timing differences reversed, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

2Tangible fixed assets

	£
Cost
At 1 April 2013	40,365
Additions	18,447
Disposals	-
Revaluations	-
Transfers	-
At 31 March 2014	58,812
Depreciation
At 1 April 2013	30,005
Charge for the year	6,531
On disposals	-
At 31 March 2014	36,536
Net book values
At 31 March 2014	22,276
At 31 March 2013	10,360

3Fixed assets Investments
At the balance sheet date the company owned 100% of the issued share capital in the company listed below. The value of the investment is £62 (2013 - £62).

Vuture US Inc.

Aggregate capital/reserves 2014 - (£33,073) 2013 - (£217,897)
Profit or (loss) for the year 2014 - £166,067 2013 - (£98,981)

4Debtors

	2014 £	2013 £
Debtors include the following amounts due after more than one year	27,000	27,000

5Called Up Share Capital
Allotted, called up and fully paid:

	2014 £	2013 £
2,000 Ordinary shares of £1 each	2,000	2,000