V.W.S. Limited - Abbreviated accounts 16.1

V.W.S. Limited - Abbreviated accounts 16.1

V.W.S. LIMITED - Company Information

Print Friendly Version

SC101126 1.10.14 30.9.15 30.9.15 Company accounts Private Limited Company FY true false true false false true false Ordinary 'A' 1.00000 Ordinary 'B' 1.00000 Ordinary 'C' 1.00000 Ordinary 'A' 1.00000 Ordinary 'B' 1.00000 Ordinary 'C' 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureSC1011262014-09-30SC1011262015-09-30SC1011262014-10-012015-09-30SC1011262013-09-30SC1011262013-10-012014-09-30SC1011262014-09-30SC101126ns12:Scotland2014-10-012015-09-30SC101126ns14:PoundSterling2014-10-012015-09-30SC101126ns7:Director12014-10-012015-09-30SC101126ns7:OrdinaryShareClass22014-10-012015-09-30SC101126ns7:OrdinaryShareClass32014-10-012015-09-30SC101126ns7:OrdinaryShareClass42014-10-012015-09-30SC101126ns7:Director22014-10-012015-09-30SC101126ns7:Director32014-10-012015-09-30SC101126ns7:CompanySecretary2014-10-012015-09-30SC101126ns7:RegisteredOffice2014-10-012015-09-30SC101126ns7:EntityAccountantsOrAuditors2014-10-012015-09-30SC101126ns7:EntityBankers2014-10-012015-09-30SC101126ns7:OrdinaryShareClass22015-09-30SC101126ns7:OrdinaryShareClass22014-09-30SC101126ns7:OrdinaryShareClass32015-09-30SC101126ns7:OrdinaryShareClass32014-09-30SC101126ns7:OrdinaryShareClass42015-09-30SC101126ns7:OrdinaryShareClass42014-09-30
REGISTERED NUMBER: SC101126 (Scotland)









V.W.S. LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 30TH SEPTEMBER 2015





Russell & Russell
Chartered Accountants
4 Royal Crescent
Glasgow
G3 7SL








V.W.S. LIMITED (REGISTERED NUMBER: SC101126)






CONTENTS OF THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2015




Page

Company Information 1

Chartered Accountants' Report 2

Abbreviated Balance Sheet 3

Notes to the Abbreviated Accounts 5

V.W.S. LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH SEPTEMBER 2015







DIRECTORS: G Wilson
B Hamilton
G McMonigle



SECRETARY: G Wilson



REGISTERED OFFICE: 13 Napier Court
Wardpark
Cumbernauld
G68 0LG



REGISTERED NUMBER: SC101126 (Scotland)



ACCOUNTANTS: Russell & Russell
Chartered Accountants
4 Royal Crescent
Glasgow
G3 7SL



BANKERS: Bank of Scotland
Page 1
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
V.W.S. LIMITED

The following reproduces the text of the report prepared for the directors in respect of the
company's annual unaudited financial statements, from which the unaudited abbreviated accounts
(set out on pages three to six) have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your
approval the financial statements of V.W.S. Limited for the year ended 30th September 2015 which
comprise the Profit and Loss Account, the Balance Sheet, and the related notes from the company's
accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants of Scotland, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.org.uk/accountspreparationguidance.

This report is made solely to the Board of Directors of V.W.S. Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of V.W.S. Limited and state those matters that we have agreed to state to the Board of Directors of V.W.S. Limited, as a body, in this report in accordance with the requirements of the Institute of Chartered Accountants of Scotland as detailed at http://www.icas.org.uk/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that V.W.S. Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of V.W.S. Limited. You consider that V.W.S. Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of V.W.S. Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Russell & Russell
Chartered Accountants
4 Royal Crescent
Glasgow
G3 7SL


Date: .............................................

This page does not form part of the abbreviated accounts

Page 2
V.W.S. LIMITED (REGISTERED NUMBER: SC101126)

ABBREVIATED BALANCE SHEET
30TH SEPTEMBER 2015

30.9.15 30.9.14
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 2 83,179 76,156

CURRENT ASSETS
Stocks 179,916 182,119
Debtors 167,971 240,698
Cash at bank 99,899 98,340
447,786 521,157
CREDITORS
Amounts falling due within one year 212,827 273,742
NET CURRENT ASSETS 234,959 247,415
TOTAL ASSETS LESS CURRENT
LIABILITIES
318,138
323,571

CREDITORS
Amounts falling due after more than
one year
(23,697
)
(8,384
)

PROVISIONS FOR LIABILITIES (14,761 ) (13,838 )
NET ASSETS 279,680 301,349

CAPITAL AND RESERVES
Called up share capital 3 76,250 76,250
Capital redemption reserve 23,750 23,750
Profit and loss account 179,680 201,349
SHAREHOLDERS' FUNDS 279,680 301,349

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th September 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 2015 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 on pages 5 to 6 form part of these abbreviated accounts

Page 3
V.W.S. LIMITED (REGISTERED NUMBER: SC101126)

ABBREVIATED BALANCE SHEET - continued
30TH SEPTEMBER 2015


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 24th June 2016 and were signed on
its behalf by:





G McMonigle - Director


The notes on pages 5 to 6 form part of these abbreviated accounts

Page 4
V.W.S. LIMITED (REGISTERED NUMBER: SC101126)

NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2015

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 represents the sales value of the supply and
maintenance of CCTV security and management control systems during the year, exclusive of
Value Added Tax.

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

Improvements to property-2% straight line
Plant and machinery-20% straight line
Fixtures and fittings-15% straight line
Motor vehicles-25% reducing balance
Computer equipment and website design-20% to 25% straight line

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 arises as a result of including items of income and expenditure in taxation
computations in periods different from those in which they are included in the company's financial
statements. Deferred tax is provided in full on timing differences which result in an obligation to
pay more tax, or a right to pay less tax, at a future date at the average tax rates that are expected to
apply when the timing differences reverse, based on current tax rates and laws.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet.
Those held under hire purchase contracts are depreciated over their estimated useful lives. Those
held under finance leases are depreciated over their estimated useful lives or the lease term,
whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant
period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line
basis over the period of the lease.

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

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual
arrangement, as either 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.

Page 5
V.W.S. LIMITED (REGISTERED NUMBER: SC101126)

NOTES TO THE ABBREVIATED ACCOUNTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2015

1. ACCOUNTING POLICIES - continued

Long term contracts
The company classifies as long term those contracts where the contract activity extends over more
than one accounting period.

The amount recognised as turnover represents the value of work carried out during the year. Where
the outcome of a contract can be assessed with reasonable certainty attributable profit is recognised
in proportion to the amount of turnover recognised in the financial statements. Full provision is
made for any foreseeable losses.

Where the amount recognised as turnover exceeds the payments on account received and receivable
in respect of that contract, the balance is included in debtors as amounts recoverable on contracts.
Retentions and payments on account receivable are included in trade debtors. Payments on account
received and receivable in excess of the value of work done are included in creditors.

2. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1st October 2014 209,423
Additions 36,667
Disposals (18,345 )
At 30th September 2015 227,745
DEPRECIATION
At 1st October 2014 133,267
Charge for year 22,543
Eliminated on disposal (11,244 )
At 30th September 2015 144,566
NET BOOK VALUE
At 30th September 2015 83,179
At 30th September 2014 76,156

3. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.15 30.9.14
value: £    £   
51,000 Ordinary 'A' £1 51,000 51,000
12,625 Ordinary 'B' £1 12,625 12,625
12,625 Ordinary 'C' £1 12,625 12,625
76,250 76,250

4. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

G Wilson has provided a personal guarantee for £18,240 to Funding Circle in respect of the loan.

Page 6