Abbreviated Company Accounts - VRM TECHNOLOGY LIMITED

VRM TECHNOLOGY LIMITED - Company Information

08048546 VRM TECHNOLOGY LIMITED 2014-12-31 false 2014-01-01 2014-12-31 true 08048546 2014-01-01 2014-12-31 08048546 2014-12-31 08048546 2013-12-31 08048546 uk-gaap-cd-bus:Director1 2014-01-01 2014-12-31 08048546 uk-gaap-cd-bus:Director2 2014-01-01 2014-12-31 uk-gaap-cd-bus:Director3 2014-01-01 2014-12-31 uk-gaap-cd-bus:Director3 2014-12-31 uk-gaap-cd-bus:Director3 2013-12-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-01-01 2014-12-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-12-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-12-31 iso4217:GBP shares

Registered Number 08048546

VRM TECHNOLOGY LIMITED

Abbreviated Accounts

31 December 2014

VRM TECHNOLOGY LIMITED Registered Number 08048546

Abbreviated Balance Sheet as at 31 December 2014

	Notes	2014	2013
		£	£
Fixed assets
Investments	2	83	83
		83	83
Current assets
Debtors		324,996	120,009
Cash at bank and in hand		31,324	328
		356,320	120,337
Creditors: amounts falling due within one year		(234,432)	(75,887)
Net current assets (liabilities)		121,888	44,450
Total assets less current liabilities		121,971	44,533
Total net assets (liabilities)		121,971	44,533
Capital and reserves
Called up share capital	3	19,936	10,738
Share premium account		600,680	265,053
Profit and loss account		(498,645)	(231,258)
Shareholders' funds		121,971	44,533

For the year ending 31 December 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
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 in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 20 September 2015

And signed on their behalf by:
Neill Ryan, Director

VRM TECHNOLOGY LIMITED Registered Number 08048546

Notes to the Abbreviated Accounts for the period ended 31 December 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention

Turnover policy
Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers

Other accounting policies
Exemption from preparing a cash flow statement
The accounts do not include a cash flow statement because the company, as a small reporting entity, is exempt from the requirements to prepare such a statement.

Exemption from preparing group accounts
The company is part of a small group. The company has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and has not prepared group accounts.

Going concern
The financial statements have been prepared on a going concern basis.

Government grants
Grants towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.

Fixed asset investments
Fixed asset investments are stated at historical cost less provision for any diminution in value.

Foreign currency
Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

Hire purchase and leasing
Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account

2Fixed assets Investments
Undertaking: VRM Technology Ltd (Company incorporated in Republic of Ireland)
Holding: Ordinary Shares
Proportion of voting rights and shares held: 100%
Principal activity: Software development

3Called Up Share Capital
Allotted, called up and fully paid:

	2014 £	2013 £
19,936 Ordinary shares of £1 each (10,738 shares for 2013)	19,936	10,738

4Transactions with directors

Name of director receiving advance or credit:	Neill Ryan
Description of the transaction:	Directors current account
Balance at 1 January 2014:	£ 22,251
Advances or credits made:	-
Advances or credits repaid:	£ 10,048
Balance at 31 December 2014:	£ 12,203