Variety Windows Limited - Limited company - abbreviated - 11.0.0

Variety Windows Limited - Limited company - abbreviated - 11.0.0

VARIETY WINDOWS LIMITED - Company Information

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REGISTERED NUMBER: 03443954 (England and Wales)















Abbreviated Accounts for the Year Ended 31 December 2013

for

Variety Windows Limited

Variety Windows Limited (Registered number: 03443954)






Contents of the Abbreviated Accounts
for the Year Ended 31 December 2013




Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 4

Variety Windows Limited

Company Information
for the Year Ended 31 December 2013







DIRECTORS: Mr M Mills
Mr B Mills
Mr C R Marson





SECRETARY: Mrs D Benbow





REGISTERED OFFICE: Heath Mill Road
Wombourne
Wolverhampton
West Midlands
WV5 8AP





REGISTERED NUMBER: 03443954 (England and Wales)





ACCOUNTANTS: Haines Watts
Keepers Lane
The Wergs
Wolverhampton
West Midlands
WV6 8UA
Page 1
Variety Windows Limited (Registered number: 03443954)

Abbreviated Balance Sheet
31 December 2013

2013 2012
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 2 37,415 44,687

CURRENT ASSETS
Stocks 53,491 45,345
Debtors 115,755 155,384
Cash at bank and in hand 33,467 19,149
202,713 219,878
CREDITORS
Amounts falling due within one year 195,270 170,811
NET CURRENT ASSETS 7,443 49,067
TOTAL ASSETS LESS CURRENT
LIABILITIES
44,858
93,754

PROVISIONS FOR LIABILITIES 6,310 7,935
NET ASSETS 38,548 85,819

CAPITAL AND RESERVES
Called up share capital 3 2 2
Profit and loss account 38,546 85,817
SHAREHOLDERS' FUNDS 38,548 85,819

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 notes form part of these abbreviated accounts

Page 2
Variety Windows Limited (Registered number: 03443954)

Abbreviated Balance Sheet - continued
31 December 2013


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 12 August 2014 and were signed on its
behalf by:




Mr M Mills - Director



Mr C R Marson - Director


The notes form part of these abbreviated accounts

Page 3
Variety Windows Limited (Registered number: 03443954)

Notes to the Abbreviated Accounts
for the Year Ended 31 December 2013

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
The turnover shown in the profit and loss account is the amount receivable for the provision of goods
and services falling within the Company's activities, net of Value Added Tax, rebates and trade
discounts.

Turnover from the provision of goods and services is recognised in the accounting period in which the
Company obtains the right to consideration in exchange for its performance and when the amounts to
be recognised are fixed or determinable and collectability is reasonably assured.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Leasehold Property - 10% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for
obsolete and slow moving items.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at
the balance sheet date where transactions or events have occurred at that date that will result in an
obligation to pay more, or a right to pay less or to receive more tax, with the following exception:

Deferred tax assets are recognised only to the extent that the directors consider that it is more likely
than not there will be suitable taxable profits from which the future reversal of the underlying timing
differences can be deducted.

Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the
periods in which timing differences reverse, based on tax rates and laws enacted or substantively
enacted at the balance sheet date.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
Assets held under finance leases, which are leases where substantially all the risks and rewards of
ownership of the asset have passed to the company, and hire purchase contracts, are capitalised in
the balance sheet and are depreciated over their useful lives. The capital elements of future
obligations under the leases and hire purchase contracts are included as liabilities in the balance
sheet.

The interest elements of the rental obligations are charged in the profit and loss account over the
periods of the leases and hire purchase contracts and represent a constant proportion of the balance
of capital repayments outstanding.

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

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the
company's pension scheme are charged to the profit and loss account in the period to which they
relate.

Page 4
Variety Windows Limited (Registered number: 03443954)

Notes to the Abbreviated Accounts - continued
for the Year Ended 31 December 2013

1. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual
arrangement, as the financial assets, financial liabilities or equity instruments. An equity instrument is
any contract that evidences a residual interest in the asset of the company after deducting all of its

2. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 January 2013
and 31 December 2013 94,903
DEPRECIATION
At 1 January 2013 50,216
Charge for year 7,272
At 31 December 2013 57,488
NET BOOK VALUE
At 31 December 2013 37,415
At 31 December 2012 44,687

3. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2013 2012
value: £    £   
2 Ordinary shares 1 2 2

4. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2013
and 31 December 2012:

2013 2012
£    £   
Mr M Mills
Balance outstanding at start of year 37,824 38,649
Amounts advanced 40,095 39,175
Amounts repaid (40,000 ) (40,000 )
Balance outstanding at end of year 37,919 37,824

Page 5