Accounts filed on 30-06-2014

trueV&P Global Limited068584282014-06-30-226559-297972-226459-297872100100-226459-297872-226459-297872-234854-32389137676045922814190613533787372127503545347834839526019839526019Basis of accounting 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 The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax. In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion. Fixed Assets All fixed assets are initially recorded at cost. Financial Instruments Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity. Going concern The accounts have been prepared on a going concern basis on the assumption that the company will continue to trade in the foreseeable future. The basis may not be appropriate because as at 30 June 2014 the company's liabilities exceeded its assets by £226,459 (2013: £292,872). The directors are of the opinion that the company will trade profitably in the future and the company receives continued financial support from its directors. If this basis were found not to be appropriate assets and liabilities would have to be restated on a break up basis which would not be materially different. Plant & MachineryMethod for Plant & equipment0.000087563875637916861544176248756387563791686154417624Ordinary A shares7000.107070Ordinary B shares3000.103030Ordinary A shares0.107070700Ordinary B shares0.1030303002015-03-26Mr F J Varelatruetruetruetruexbrli:sharesiso4217:GBPxbrli:pureV&P Global Limited2013-07-012014-06-30V&P Global Limited2012-07-012013-06-30V&P Global Limited2012-06-30V&P Global Limited2013-06-30V&P Global Limited2013-06-30V&P Global Limited2014-06-30 2015-03-30