V&B Software Services Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 07061009 (England and Wales)

V&B SOFTWARE SERVICES LIMITED

ABBREVIATED ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2015

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

T Vorraa

A Brignone

REGISTERED OFFICE:

The Oriel

Sydenham Road

Guildford

Surrey

GU1 3SR

REGISTERED NUMBER:

07061009 (England and Wales)

ACCOUNTANTS:

Martin Schuman Accountancy

Chartered Accountants

13 Oakfields

Walton on Thames

Surrey

KT12 1EG

FIXED ASSETS

Tangible assets

2

5,078

4,349

CURRENT ASSETS

Debtors

172,952

153,688

Cash at bank

42,973

44,639

215,925

198,327

CREDITORS

Amounts falling due within one year

246,849

238,070

NET CURRENT LIABILITIES

(30,924

)

(39,743

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(25,846

)

(35,394

)

CAPITAL AND RESERVES

Called up share capital

3

2

Profit and loss account

(25,848

)

(35,396

)

SHAREHOLDERS' FUNDS

(25,846

)

(35,394

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 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 22 July 2016 and were signed on its behalf by:

T Vorraa - Director

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 January 2015).

Turnover

Turnover represents net invoiced sales of goods and services, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

33% on cost

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2015

14,507

Additions

3,133

At 31 December 2015

17,640

DEPRECIATION

At 1 January 2015

10,158

Charge for year

2,404

At 31 December 2015

12,562

NET BOOK VALUE

At 31 December 2015

5,078

At 31 December 2014

4,349

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.15

31.12.14

value:

£

2

Ordinary

£1

2

4.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The directors, Mr T. Vorraa and Mr A. Brignone are based in Norway and Italy, respectively. In the period to 31

December 2015, they have both provided consultancy services to the company through their respective

home-based service companies. During the period, Mr Vorraa provided services amounting to £119,367 (2014:

£117,682), and Mr Brignone £81,025 (2014: £70,631).

During the year, the directors' service companies have charged office costs to the company: Mr Vorraa £7,238

(2014: £9,578) and Mr Brignone £7,378 (2014: £11,750).

At the balance sheet date, Mr Vorraa is owed £39,184 (2014: £49,818), and Mr Brignone £39,652 (2014:

£57,009).