VMS_SOLUTIONS_LIMITED - Accounts

VMS SOLUTIONS LTD - Company Information

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Company Registration No. 05226150 (England and Wales)

VMS SOLUTIONS LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2015

VMS SOLUTIONS LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 5

VMS SOLUTIONS LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 DECEMBER 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

520,234

481,651

Current assets

Stocks

246,994

315,990

Debtors

466,400

448,990

Cash at bank and in hand

100

713,394

765,080

Creditors: amounts falling due within one year

(766,955)

(794,026)

Net current liabilities

(53,561)

(28,946)

Total assets less current liabilities

466,673

452,705

Creditors: amounts falling due after more than one year

(55,775)

Provisions for liabilities

(48,063)

(38,130)

362,835

414,575

Capital and reserves

Called up share capital

100,000

Revaluation reserve

1,655

8,275

Profit and loss account

261,180

306,300

Shareholders' funds

362,835

414,575

VMS SOLUTIONS LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 DECEMBER 2015

- 2 -

For the financial year ended 31 December 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 17 August 2016

Mr G I Butler

Director

Company Registration No. 05226150

VMS SOLUTIONS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2015

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention modified to include the revaluation of plant and equipment and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 20 15 ). January 2015).

The company is dependent upon the ongoing support of its fellow group companies.

The director of this company is also the director of the group companies. The director has indicated that these companies will continue to provide financial support to the company for the foreseeable future.

The director therefore considers that in preparing the financial statements he has taken into account all the information that could reasonably be expected to be available.

On this basis, he considers that it is appropriate to prepare the financial statements on the going concern basis.

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:

Land and buildings Leasehold

2% Straight line

Plant and machinery

10% Straight line

Computer equipment

33% Straight line

Fixtures, fittings & equipment

20% Straight line

Motor vehicles

25% Reducing balance

1.5

Stock

Stock is valued at the lower of cost and net realisable value after making due allowances for slow moving and obsolete items.

1.6

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

VMS SOLUTIONS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2015

- 4 -

Fixed assets

Tangible assets

Cost or valuation

At 1 January 2015

839,907

Additions

105,113

Disposals

(15,000)

At 31 December 2015

930,020

Depreciation

At 1 January 2015

358,256

Charge for the year

51,530

At 31 December 2015

409,786

Net book value

At 31 December 2015

520,234

At 31 December 2014

481,651

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £96,414 (2014 - £27,752).

Creditors: amounts falling due after more than one year

The aggregate amount of creditors for which security has been given amounted to £55,775 (2014 - £0).

Share capital

2015

2014

Allotted, called up and fully paid

100,000 Ordinary Shares of £1 each

100,000

Ultimate parent company

The ultimate parent company is GBR Holdco Limited, a company registered in England and Wales.

Related party relationships and transactions

VMS SOLUTIONS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2015

Related party relationships and transactions

(Continued)

- 5 -

Loan from the director

Transactions in relation to loans with the director during the year are outlined in the table below:

Description

% Rate

Opening Balance

Amounts Advanced

Interest Charged

Amounts Repaid

Closing Balance

Mr G I Butler - Director's Loan Account

58,618

40,976

79,328

20,266

58,618

40,976

79,328

20,266