VICTORIMAX LIMITED
VICTORIMAX LIMITED
Registered number: 08163723
Unaudited Financial Statements
For The Year Ended 31 August 2017
WNR Associates Limited
Chartered Certified Accountants
35 Tempsford Avenue
Borehamwood
Hertfordshire
WD6 2PD
VICTORIMAX LIMITED
Unaudited Financial Statements
For The Year Ended 31 August 2017
Unaudited Financial Statements
| Contents | |
| Page | |
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| Balance Sheet | 1 |
| Notes to the Financial Statements | 2—3 |
VICTORIMAX LIMITED
Balance Sheet
As at
31 August 2017
Balance Sheet
Registered number:
08163723
For the year ending 31 August 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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| Notes | £ | £ | £ | £ | |
| CURRENT ASSETS | |||||
| Debtors | 4 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 5 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 6 |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | (9,582) | 9,240 | |||
Directors' responsibilities:
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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 and delivered in accordance with the provisions applicable to companies subject to the small companies' regime. - The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
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The notes on pages 2 to 3 form part of these financial statements.
Page 1
VICTORIMAX LIMITED
Notes to the Financial Statements
For The Year Ended 31 August 2017
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
1.2.
Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
1.3.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
1.4.
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
4.
Debtors
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| £ | £ | ||
| Due within one year | |||
| Trade debtors |
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5.
Creditors: Amounts Falling Due Within One Year
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| £ | £ | ||
| Corporation tax |
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| Other taxes and social security | - |
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| Accruals and deferred income |
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| Directors' loan accounts |
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Page 2
VICTORIMAX LIMITED
Notes to the Financial Statements (continued)
For The Year Ended 31 August 2017
7.
General Information
VICTORIMAX LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 08163723 . The registered office is First Floor, 89 London Road, Leicester, LE2 0PF.
Page 3