Cameron Ventures Group Limited Filleted accounts for Companies House (small and micro)

CAMERON VENTURES GROUP LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 03661175

Cameron Ventures Group Limited

Filleted Unaudited Financial Statements

31 August 2017

Cameron Ventures Group Limited

Statement of Financial Position

31 August 2017

	31 Aug 17	31 Mar 17
Note	£	£

Fixed assets

Intangible assets	5	–	8,500
Tangible assets	6	109,057	286,687
Investments	7	1,060	1,060
		----------	----------
		110,117	296,247

Current assets

Debtors	8	447,347	412,566

Creditors: amounts falling due within one year	9	210,560	127,913
		----------	----------
Net current assets		236,787	284,653
		----------	----------
Total assets less current liabilities		346,904	580,900

Provisions

Taxation including deferred tax	18,031	46,558
	----------	----------
Net assets	328,873	534,342
	----------	----------

Capital and reserves

Called up share capital	10	50,000	50,000
Profit and loss account		278,873	484,342
		----------	----------
Shareholders funds		328,873	534,342
		----------	----------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

For the period ending 31st August 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Cameron Ventures Group Limited

Statement of Financial Position (continued)

31 August 2017

These financial statements were approved by the board of directors and authorised for issue on 10 May 2018 , and are signed on behalf of the board by:

Mr B Keane
Director

Company registration number: 03661175

Cameron Ventures Group Limited

Notes to the Financial Statements

Period from 1st April 2017 to 31st August 2017

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Pendragon House, 65 London Road, St Albans, Hertfordshire, AL1 1LJ.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis and are prepared in sterling which is the functional currency of the entity.

Consolidation

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

Revenue recognition

Turnover represents the amounts receivable by the company for head office services and marquee hire, excluding VAT. In the prior year turnover also included residential property sales.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Amortisation

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

	Amortisation	-	Over ten years

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

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

Marquee equipment	-	10% reducing balance
Motor vehicles	-	20% straight line
Machinery and office equipment	-	10%-20% straight line

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.

4. Employee numbers

The average number of persons employed by the company during the period amounted to 8 (2017: 8 ).

5. Intangible assets

	Goodwill
	£
Cost
At 1st April 2017	85,000
Additions	–
Disposals of previously acquired businesses	( 85,000)
	--------
At 31st August 2017	–
	--------
Amortisation
At 1st April 2017	76,500
Charge for the period	–
Disposals of previously acquired businesses	( 76,500)
	--------
At 31st August 2017	–
	--------
Carrying amount
At 31st August 2017	–
	--------
At 31st March 2017	8,500
	--------

6. Tangible assets

	Plant and machinery	Motor vehicles	Equipment	Total
	£	£	£	£
Cost
At 1st April 2017	550,657	3,100	25,818	579,575
Additions	–	1,850	1,654	3,504
Disposals	( 397,382)	–	( 7,695)	( 405,077)
	----------	-------	--------	----------
At 31st August 2017	153,275	4,950	19,777	178,002
	----------	-------	--------	----------
Depreciation
At 1st April 2017	273,714	1,226	17,948	292,888
Charge for the period	7,577	–	320	7,897
Disposals	( 227,179)	310	( 4,971)	( 231,840)
	----------	-------	--------	----------
At 31st August 2017	54,112	1,536	13,297	68,945
	----------	-------	--------	----------
Carrying amount
At 31st August 2017	99,163	3,414	6,480	109,057
	----------	-------	--------	----------
At 31st March 2017	276,943	1,874	7,870	286,687
	----------	-------	--------	----------

7. Investments

	Shares in group undertakings
	£
Cost
At 1st April 2017 and 31st August 2017	1,060
	-------
Impairment
At 1st April 2017 and 31st August 2017	–
	-------

Carrying amount
At 31st August 2017	1,060
	-------
At 31st March 2017	1,060
	-------

8. Debtors

	31 Aug 17	31 Mar 17
	£	£
Trade debtors	28,426	42,540
Other debtors	418,921	370,026
	----------	----------
	447,347	412,566
	----------	----------

9. Creditors: amounts falling due within one year

	31 Aug 17	31 Mar 17
	£	£
Bank loans and overdrafts	7,178	8,330
Trade creditors	42,078	39,018
Social security and other taxes	52,021	63,176
Other creditors	109,283	17,389
	----------	----------
	210,560	127,913
	----------	----------

10. Called up share capital

Issued, called up and fully paid

	31 Aug 17		31 Mar 17
	No.	£	No.	£
Ordinary shares of £ 1 each	50,000	50,000	50,000	50,000
	--------	--------	--------	--------