Vanleles Diamonds Ltd Filleted accounts for Companies House (small and micro)

VANLELES DIAMONDS LTD - Company Information

false false false false false false false false false true false false false false false false false No description of principal activity 2017-04-01 Sage Accounts Production Advanced 2018 - FRS xbrli:pure xbrli:shares iso4217:GBP 07607372 2017-04-01 2018-03-31 07607372 2018-03-31 07607372 2017-03-31 07607372 2016-04-01 2017-03-31 07607372 2017-03-31 07607372 core:FurnitureFittings 2017-04-01 2018-03-31 07607372 bus:OrdinaryShareClass1 2017-04-01 2018-03-31 07607372 bus:Director1 2017-04-01 2018-03-31 07607372 core:WithinOneYear 2018-03-31 07607372 core:WithinOneYear 2017-03-31 07607372 core:ShareCapital 2018-03-31 07607372 core:ShareCapital 2017-03-31 07607372 core:SharePremium 2018-03-31 07607372 core:SharePremium 2017-03-31 07607372 core:RetainedEarningsAccumulatedLosses 2018-03-31 07607372 core:RetainedEarningsAccumulatedLosses 2017-03-31 07607372 bus:SmallEntities 2017-04-01 2018-03-31 07607372 bus:AuditExemptWithAccountantsReport 2017-04-01 2018-03-31 07607372 bus:AbridgedAccounts 2017-04-01 2018-03-31 07607372 bus:SmallCompaniesRegimeForAccounts 2017-04-01 2018-03-31 07607372 bus:PrivateLimitedCompanyLtd 2017-04-01 2018-03-31 07607372 bus:OrdinaryShareClass1 2018-03-31 07607372 bus:OrdinaryShareClass1 2017-03-31 07607372 core:OfficeEquipment 2017-04-01 2018-03-31

COMPANY REGISTRATION NUMBER: 07607372

Vanleles Diamonds Ltd

Filleted Unaudited Abridged Financial Statements

31 March 2018

Vanleles Diamonds Ltd

Abridged Financial Statements

Year ended 31 March 2018

Contents	Page

Abridged statement of financial position	1

Notes to the abridged financial statements	3

Vanleles Diamonds Ltd

Abridged Statement of Financial Position

31 March 2018

	2018		2017
Note	£	£	£

Fixed assets

Tangible assets	5		35,400	33,255

Current assets

Stocks	6	956,237	211,675
Debtors		28,543	31,341
Cash at bank and in hand		110,340	194,904
		------------	---------
		1,095,120	437,920

Creditors: amounts falling due within one year	85,074		50,391
	------------		---------
Net current assets		1,010,046	387,529
		------------	---------
Total assets less current liabilities		1,045,446	420,784
		------------	---------
Net assets		1,045,446	420,784
		------------	---------

Capital and reserves

Called up share capital	7	142	142
Share premium account		1,399,958	1,399,958
Profit and loss account		( 354,654)	( 979,316)
		------------	------------
Shareholders funds		1,045,446	420,784
		------------	------------

These abridged 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 abridged statement of comprehensive income has not been delivered.

For the year ending 31 March 2018 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 abridged financial statements for the year in question in accordance with section 476 ;

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

All of the members have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the year ending 31 March 2018 in accordance with Section 444(2A) of the Companies Act 2006.

Vanleles Diamonds Ltd

Abridged Statement of Financial Position (continued)

31 March 2018

These abridged financial statements were approved by the board of directors and authorised for issue on 20 December 2018 , and are signed on behalf of the board by:

Ms V Leles
Director

Company registration number: 07607372

Vanleles Diamonds Ltd

Notes to the Abridged Financial Statements

Year ended 31 March 2018

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 76 Brook Street, London, W1K 5EE, England.

2. Statement of compliance

These abridged 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 abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The abridged financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Tangible assets

All fixed assets are initially recorded at cost.

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:

Fixtures and fittings	-	25% straight line
Equipment	-	33% straight line

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2017: 2 ).

5. Tangible assets

	£
Cost
At 1 April 2017	91,226
Additions	12,615
	---------
At 31 March 2018	103,841
	---------
Depreciation
At 1 April 2017	57,971
Charge for the year	10,470
	---------
At 31 March 2018	68,441
	---------
Carrying amount
At 31 March 2018	35,400
	---------
At 31 March 2017	33,255
	---------

6. Stocks

	2018	2017
	£	£
Raw materials and consumables	956,237	211,675
	---------	---------

7. Called up share capital

Issued, called up and fully paid

	2018		2017
	No.	£	No.	£
Ordinary shares of £ 1 each	142	142	142	142
	----	----	----	----

8. Share premium account

There was no movement on the share premium account during the financial year.

9. Related party transactions

The company was under the control of Ms. Vania Leles throughout the current and previous year. Ms Vania Leles is the managing director and majority shareholder. Other debtors include £11,188 (2016: £13,209) owing from the director, Ms. Vania Leles. No other transactions with related parties were undertaken such as are required to be disclosed under FRS 102.