VANGATE_LIMITED - Accounts

VANGATE LTD - Company Information

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Company Registration No. 3974964 (England and Wales)

VANGATE LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2016

VANGATE LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

VANGATE LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 APRIL 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

251,610

252,013

Current assets

Debtors

52,601

65,962

Cash at bank and in hand

5,340

2,914

57,941

68,876

Creditors: amounts falling due within one year

(67,754)

(68,234)

Net current liabilities/(assets)

(9,813)

642

Total assets less current liabilities

241,797

252,655

Creditors: amounts falling due after more than one year

(144,317)

(156,439)

97,480

96,216

Capital and reserves

Called up share capital

Revaluation reserve

108,589

Profit and loss account

(11,111)

(12,375)

Shareholders' funds

97,480

96,216

For the financial year ended 30 April 2016 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 10 January 2017

J Smith

Director

Company Registration No. 3974964

VANGATE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 APRIL 2016

- 2 -

Accounting policies

1.1

Accounting convention

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

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 and trade discounts.

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:

Plant and machinery

20% p.a. on book value

Investment properties are included in the balance sheet at cost. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years.

Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective March 2000), it is a departure from the general requirement of the Companies Act 1985 for all tangible assets to be depreciated. In the opinion of the director compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.

Fixed assets

Tangible assets

Cost or valuation

At 1 May 2015 & at 30 April 2016

269,018

Depreciation

At 1 May 2015

17,005

Charge for the year

403

At 30 April 2016

17,408

Net book value

At 30 April 2016

251,610

At 30 April 2015

252,013

VANGATE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 APRIL 2016

- 3 -

Debtors

Debtors include an amount of £0 (2015 - £50,000) which is due after more than one year.

Creditors: amounts falling due after more than one year

2016

2015

Analysis of loans repayable in more than five years

Total not repayable by instalments and due in more than five years

36,869

Total amounts repayable by instalments which are due in more than five years

(70,200)

(73,466)

Share capital

2016

2015

Allotted, called up and fully paid

2 ordinary shares of £1 each