Vector Developments Limited - Accounts to registrar - small 17.2
Vector Developments Limited - Accounts to registrar - small 17.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 28 February 2017 |
| for |
| Vector Developments Limited |
| Vector Developments Limited (Registered number: 02895411) |
| Contents of the Financial Statements |
| for the Year Ended 28 February 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Vector Developments Limited |
| Company Information |
| for the Year Ended 28 February 2017 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Woodlands Grange |
| Woodlands Lane |
| Bradley Stoke |
| Bristol |
| BS32 4JY |
| Vector Developments Limited (Registered number: 02895411) |
| Balance Sheet |
| 28 February 2017 |
| 28.2.17 | 29.2.16 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 9 |
| Share premium | 10 |
| Retained earnings | 10 | ( |
) | ( |
) |
| 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. |
| Vector Developments Limited (Registered number: 02895411) |
| Balance Sheet - continued |
| 28 February 2017 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the director on |
| Vector Developments Limited (Registered number: 02895411) |
| Notes to the Financial Statements |
| for the Year Ended 28 February 2017 |
| 1. | STATUTORY INFORMATION |
| Vector Developments Limited is a |
| 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 |
| Turnover |
| Turnover represents net invoiced sales of goods, excluding value added tax. |
| Intangible assets |
| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost |
| less any accumulated amortisation and any accumulated impairment losses. |
| Development costs |
| Development costs are valued at the cost of ongoing projects, after adjustments have been made regarding the |
| contribution they are expected to make to new products. |
| Tangible fixed assets |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Computer equipment | - |
| 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 Income Statement, 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. |
| 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. |
| Vector Developments Limited (Registered number: 02895411) |
| Notes to the Financial Statements - continued |
| for the Year Ended 28 February 2017 |
| 2. | ACCOUNTING POLICIES - continued |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss 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. 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 under the going concern basis. The company has seen large losses in recent |
| years leading to negative retained earnings but the balance sheet is not yet negative. The director believes that the |
| company will continue to trade for the next 12 months and will be supported by the director. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INTANGIBLE FIXED ASSETS |
| Development |
| costs |
| £ |
| COST |
| At 1 March 2016 |
| Additions |
| At 28 February 2017 |
| AMORTISATION |
| At 1 March 2016 |
| Amortisation for year |
| At 28 February 2017 |
| NET BOOK VALUE |
| At 28 February 2017 |
| At 29 February 2016 |
| Vector Developments Limited (Registered number: 02895411) |
| Notes to the Financial Statements - continued |
| for the Year Ended 28 February 2017 |
| 5. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Plant and | and | Computer |
| machinery | fittings | equipment | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 March 2016 |
| Additions |
| At 28 February 2017 |
| DEPRECIATION |
| At 1 March 2016 |
| Charge for year |
| At 28 February 2017 |
| NET BOOK VALUE |
| At 28 February 2017 |
| At 29 February 2016 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 28.2.17 | 29.2.16 |
| £ | £ |
| Trade debtors |
| Other debtors |
| VAT |
| Prepayments |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 28.2.17 | 29.2.16 |
| £ | £ |
| Payments on account |
| Trade creditors |
| Social security and other taxes |
| VAT | 5,831 | - |
| Other creditors |
| Accrued expenses |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 28.2.17 | 29.2.16 |
| £ | £ |
| Investments | 56,000 | 56,000 |
| Payments on account |
| Vector Developments Limited (Registered number: 02895411) |
| Notes to the Financial Statements - continued |
| for the Year Ended 28 February 2017 |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued |
| 28.2.17 | 29.2.16 |
| £ | £ |
| Amounts falling due in more than five years: |
| Repayable otherwise than by instalments |
| Investments |
| 9. | CALLED UP SHARE CAPITAL |
| Allotted and issued: |
| Number: | Class: | Nominal | 28.2.17 | 29.2.16 |
| value: | £ | £ |
| Share capital | £0.10 | 57,400 | 57,400 |
| 10. | RESERVES |
| Retained | Share |
| earnings | premium | Totals |
| £ | £ | £ |
| At 1 March 2016 | ( |
) | 91,731 |
| Deficit for the year | ( |
) | - | ( |
) |
| At 28 February 2017 | ( |
) | 3,059 |
| 11. | ULTIMATE CONTROLLING PARTY |
| The Company is controlled by Mr B Chivers director by virtue of him owning 376,000 of the 574,000 ordinary |
| share capital at the balance sheet date. |