Variety Windows Limited - Accounts to registrar - small 17.2
Variety Windows Limited - Accounts to registrar - small 17.2
| REGISTERED NUMBER: |
| Financial Statements for the Year Ended 31 December 2016 |
| for |
| Variety Windows Limited |
| Variety Windows Limited (Registered number: 03443954) |
| Contents of the Financial Statements |
| for the Year Ended 31 December 2016 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Variety Windows Limited |
| Company Information |
| for the Year Ended 31 December 2016 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Keepers Lane |
| The Wergs |
| Wolverhampton |
| West Midlands |
| WV6 8UA |
| Variety Windows Limited (Registered number: 03443954) |
| Balance Sheet |
| 31 December 2016 |
| 2016 | 2015 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
| PROVISIONS FOR LIABILITIES |
| NET (LIABILITIES)/ASSETS | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) |
| The director acknowledges his 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. |
| Variety Windows Limited (Registered number: 03443954) |
| Balance Sheet - continued |
| 31 December 2016 |
| In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
| The financial statements were approved by the director on |
| Variety Windows Limited (Registered number: 03443954) |
| Notes to the Financial Statements |
| for the Year Ended 31 December 2016 |
| 1. | STATUTORY INFORMATION |
| Variety Windows Limited is a |
| The company's registered number and registered office address can be found on the Company |
| Information page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| These financial statements for the year ended 31 December 2016 are the first financial statements that |
| comply with FRS102 Section 1A small entities. The date of transition is 1 January 2015. |
| The transition to FRS102 Section 1A small entities has not resulted in any changes in accounting |
| policies to those used previously. |
| The principal accounting policies adopted in the preparation of the financial statements are set out |
| below and have remained unchanged from the previous year, and also have been consistently applied |
| within the same accounts. |
| 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 |
| Leasehold Property | - |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for |
| obsolete and slow moving items. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss |
| Account, except to the extent that it relates to items recognised in other comprehensive income or |
| directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been |
| enacted or substantively enacted by the balance sheet date. |
| Variety Windows Limited (Registered number: 03443954) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2016 |
| 2. | ACCOUNTING POLICIES - continued |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
| the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods |
| different from those in which they are recognised in financial statements. Deferred tax is measured |
| using tax rates and laws that have been enacted or substantively enacted by the year end and that are |
| expected to apply to the reversal of the timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable |
| that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| 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 profit or loss in the period to which they relate. |
| Going concern |
| The accounts have been prepared on a going concern basis. Although total liabilities exceed assets by |
| £46,522 the director together with its associated companies will continue to support the company for |
| the foreseeable future. |
| 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 |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| Variety Windows Limited (Registered number: 03443954) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2016 |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Leasehold | Plant and | and |
| Property | machinery | fittings | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 January 2016 |
| Disposals | ( |
) | ( |
) |
| At 31 December 2016 |
| DEPRECIATION |
| At 1 January 2016 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 December 2016 |
| NET BOOK VALUE |
| At 31 December 2016 |
| At 31 December 2015 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2016 | 2015 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2016 | 2015 |
| £ | £ |
| Trade creditors |
| Amounts owed to group undertakings |
| Taxation and social security |
| Other creditors |
| 7. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 2016 | 2015 |
| £ | £ |
| Within one year |
| Between one and five years |