Visual Advantage International Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 04519750 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 August 2017

for

Visual Advantage International Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

A J Hamilton

C M A Davis

SECRETARY:

A J Hamilton

REGISTERED OFFICE:

Woodlands Grange

Woodlands Lane

Bradley Stoke

Bristol

BS32 4JY

REGISTERED NUMBER:

04519750 (England and Wales)

ACCOUNTANTS:

Dunkley's

Chartered Accountants

Woodlands Grange

Woodlands Lane

Bradley Stoke

Bristol

BS32 4JY

CURRENT ASSETS

Debtors

6

21,423

9,906

Cash at bank

26,409

110,469

47,832

120,375

CREDITORS

Amounts falling due within one year

7

30,352

64,765

NET CURRENT ASSETS

17,480

55,610

TOTAL ASSETS LESS CURRENT LIABILITIES

17,480

55,610

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

9

17,380

55,510

SHAREHOLDERS' FUNDS

17,480

55,610

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 17 May 2018 and were signed on its behalf by:

A J Hamilton - Director

1.	STATUTORY INFORMATION

Visual Advantage International 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.

Turnover

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

value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Intangible fixed assets

Depreciation is provided at the following annual rate.

Patent & Licences - 10% on cost

Tangible fixed assets

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

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

33.33% 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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

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 transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 September 2016

and 31 August 2017

640

AMORTISATION

At 1 September 2016

and 31 August 2017

640

NET BOOK VALUE

At 31 August 2017

-

At 31 August 2016

-

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 September 2016

and 31 August 2017

252

39,106

39,358

DEPRECIATION

At 1 September 2016

and 31 August 2017

252

39,106

39,358

NET BOOK VALUE

At 31 August 2017

-

-

-

At 31 August 2016

-

-

-

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.17

31.8.16

£

£

Trade debtors

19,400

8,460

VAT

480

231

Prepayments

1,543

1,215

21,423

9,906

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.17

31.8.16

£

£

Trade creditors

6,648

4,630

Tax

19,934

28,816

Social security and other taxes

-

56

Directors' current accounts

2,665

973

Accruals and deferred income

-

27,720

Accrued expenses

1,105

2,570

30,352

64,765

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.8.17

31.8.16

value:

£

£

50

Ordinary 'A'

£1

50

50

50

Ordinary 'B'

£1

50

50

100

100

9.

RESERVES

Retained

earnings

£

At 1 September 2016

55,510

Profit for the year

81,870

Dividends

(120,000

)

At 31 August 2017

17,380

10.	RELATED PARTY DISCLOSURES

During the year the directors received £101,200 in dividends.

11.	ULTIMATE CONTROLLING PARTY

The company is controlled by the directors, by virtue of them owning 100% of the issued ordinary shares.