Varyspace Limited - Limited company - abbreviated

REGISTERED NUMBER: 07396162 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2013

FOR

VARYSPACE LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

Mr G B Willey

Mr B Willey

REGISTERED OFFICE:

17 The Avenue

GAINSBOROUGH

Lincolnshire

DN21 1EP

REGISTERED NUMBER:

07396162 (England and Wales)

ACCOUNTANTS:

Rigel Wolf Ltd

Chartered Accountants

Orion House

28A Spital Terrace

GAINSBOROUGH

Lincolnshire

DN21 2HQ

FIXED ASSETS

Tangible assets

2

8,833

-

CURRENT ASSETS

Debtors

4,203

1

Cash at bank

8

-

4,211

1

CREDITORS

Amounts falling due within one year

16,136

-

NET CURRENT (LIABILITIES)/ASSETS

(11,925

)

1

TOTAL ASSETS LESS CURRENT
LIABILITIES

(3,092

)

1

CAPITAL AND RESERVES

Called up share capital

3

1

Profit and loss account

(3,093

)

-

SHAREHOLDERS' FUNDS

(3,092

)

1

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2013.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2013 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 24 December 2014 and were signed on its
behalf by:

Mr G B Willey - 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 April 2008).

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

Tangible fixed assets

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

Plant and machinery

-

20% on reducing balance

Computer equipment

-

25% on reducing balance

Deferred tax

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

balance sheet date.

Going concern

At 31 December 2013 the company had an excess of liabilities over assets of £3,092 and was technically

insolvent.

Included within creditors is an amount of £15,250 owed to a director, Mr G B Willey. The company is

dependent upon the continued financial support of its directors, which has been confirmed as ongoing.

The financial statements have therefore been prepared on the going concern basis.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

Additions

11,120

At 31 December 2013

11,120

DEPRECIATION

Charge for year

2,287

At 31 December 2013

2,287

NET BOOK VALUE

At 31 December 2013

8,833

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.13

31.12.12

value:

£

1

Ordinary

£1

1

4.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year, Mr G B Willey - joint director of the company with his father, Mr B Willey, but sole

shareholder - charged the company £139 (2012 - £Nil) for use of home as office.

Varyspace Limited - Limited company - abbreviated - 11.6

Varyspace Limited - Limited company - abbreviated - 11.6