VPAR Limited - Limited company - abbreviated - 11.6
VPAR Limited - Limited company - abbreviated - 11.6
REGISTERED NUMBER: |
VPAR LIMITED |
ABBREVIATED UNAUDITED ACCOUNTS |
FOR THE YEAR ENDED 31 MARCH 2014 |
VPAR LIMITED (REGISTERED NUMBER: 06581897) |
CONTENTS OF THE ABBREVIATED ACCOUNTS |
FOR THE YEAR ENDED 31 MARCH 2014 |
Page |
Company Information | 1 |
Abbreviated Balance Sheet | 2 |
Notes to the Abbreviated Accounts | 3 |
VPAR LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2014 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
VPAR LIMITED (REGISTERED NUMBER: 06581897) |
ABBREVIATED BALANCE SHEET |
31 MARCH 2014 |
2014 | 2013 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 2 |
Investments | 3 |
CURRENT ASSETS |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
CAPITAL AND RESERVES |
Called up share capital | 4 |
Share premium |
Profit and loss account | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) |
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 were approved by the Board of Directors on its behalf by: |
VPAR LIMITED (REGISTERED NUMBER: 06581897) |
NOTES TO THE ABBREVIATED ACCOUNTS |
FOR THE YEAR ENDED 31 MARCH 2014 |
1. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The company made a loss of £337,633 for the year ended 31 March 2014. The company has net |
current liabilities and net liabilities of £96,316 and £44,854 respectively. The net current liabilities and |
net liabilities position includes balances owed to directors.The directors have expressed their intention |
not to seek repayment of the amounts owed until the company has the resources to do so. The |
directors are confident that the investment in designing and marketing the product will generate profit |
for the company. On this basis the directors considers it appropriate for these financial statements to |
be prepared on the going concern basis. |
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 goods/services, excluding value added tax. 50% of revenue |
is recognised on sale and 50% on completion. 50% of sales invoiced but not delivered are recognised |
as prepaid income. |
Tangible fixed assets |
Plant and machinery etc | - |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
the balance sheet date. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis |
over the period of the lease. |
2. | TANGIBLE FIXED ASSETS |
Total |
£ |
COST |
At 1 April 2013 |
Additions |
At 31 March 2014 |
DEPRECIATION |
At 1 April 2013 |
Charge for year |
At 31 March 2014 |
NET BOOK VALUE |
At 31 March 2014 |
At 31 March 2013 |
VPAR LIMITED (REGISTERED NUMBER: 06581897) |
NOTES TO THE ABBREVIATED ACCOUNTS - continued |
FOR THE YEAR ENDED 31 MARCH 2014 |
3. | FIXED ASSET INVESTMENTS |
Investments |
other |
than |
loans |
£ |
COST |
Additions | 600 |
At 31 March 2014 | 600 |
NET BOOK VALUE |
At 31 March 2014 |
The company's investments at the balance sheet date in the share capital of companies include the |
following: |
Country of incorporation: USA |
Nature of business: |
% |
Class of shares: | holding |
Common stock | 100.00 |
£ | £ |
Aggregate capital and reserves | (2,278 | ) | (42,374 | ) |
Profit/(loss) for the year | 25,396 | (42,374 | ) |
4. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2014 | 2013 |
value: | £ | £ |
Ordinary | 0.1p |
5. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
During the year an amount owed to a director, Julian Sykes, of £258,293 was outstanding (2013: |
£243,673). Interest of £14,620 (2013: £Nil) has accrued. |