Vlk Solutions Limited - Period Ending 2017-07-31

Vlk Solutions Limited - Period Ending 2017-07-31


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Registration number: 10265749

Vlk Solutions Limited

trading as VLK Solutions Limited

Annual Report and Unaudited Financial Statements

for the Period from 6 July 2016 to 31 July 2017

Umbrella Accountants LLP
Bollin House
Bollin Link
Wilmslow
Cheshire
SK9 1DP

 

Vlk Solutions Limited

trading as VLK Solutions Limited

Contents

Company Information

1

Accountants' Report

2

Statement of Comprehensive Income

3

Balance Sheet

4

Statement of Changes in Equity

5

Notes to the Financial Statements

6 to 8

 

Vlk Solutions Limited

trading as VLK Solutions Limited

Company Information

Director

Ms Victoria Johnson

Registered office

Bollin House
Bollin Link
Wilmslow
Cheshire
SK9 1DP

Accountants

Umbrella Accountants LLP
Bollin House
Bollin Link
Wilmslow
Cheshire
SK9 1DP

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Vlk Solutions Limited

trading as VLK Solutions Limited
for the Period Ended 31 July 2017

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Vlk Solutions Limited for the period ended 31 July 2017 as set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/en/members/regulations-standards-and-guidance/.

This report is made solely to the Board of Directors of Vlk Solutions Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Vlk Solutions Limited and state those matters that we have agreed to state to the Board of Directors of Vlk Solutions Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Vlk Solutions Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Vlk Solutions Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Vlk Solutions Limited. You consider that Vlk Solutions Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the accounts of Vlk Solutions Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Umbrella Accountants LLP
Bollin House
Bollin Link
Wilmslow
Cheshire
SK9 1DP

6 April 2018

 

Vlk Solutions Limited

trading as VLK Solutions Limited

Statement of Comprehensive Income for the Period from 6 July 2016 to 31 July 2017

Note

2017
£

Profit for the period

 

27,962

Total comprehensive income for the period

 

27,962

 

Vlk Solutions Limited

trading as VLK Solutions Limited

(Registration number: 10265749)
Balance Sheet as at 31 July 2017

Note

2017
£

Current assets

 

Debtors

4

2,220

Cash at bank and in hand

 

6,892

 

9,112

Creditors: Amounts falling due within one year

5

(9,102)

Net assets

 

10

Capital and reserves

 

Called up share capital

10

Total equity

 

10

For the financial period ending 31 July 2017 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 accounts for the period in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 6 April 2018
 

.........................................

Ms Victoria Johnson

Director

 

Vlk Solutions Limited

trading as VLK Solutions Limited

Statement of Changes in Equity for the Period from 6 July 2016 to 31 July 2017

Share capital
£

Profit and loss account
£

Total
£

At 6 July 2016

10

-

10

Profit for the period

-

27,962

27,962

Total comprehensive income

-

27,962

27,962

Dividends

-

(27,962)

(27,962)

At 31 July 2017

10

-

10

 

Vlk Solutions Limited

trading as VLK Solutions Limited

Notes to the Financial Statements for the Period from 6 July 2016 to 31 July 2017

1

General information

The company is a private company limited by share capital incorporated in United Kingdom.

The address of its registered office is:
Bollin House
Bollin Link
Wilmslow
Cheshire
SK9 1DP
United Kingdom

These financial statements were authorised for issue by the director on 6 April 2018.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with the provisions of Section 1A “Small Entities” of Financial Reporting Standard 102. “The Financial Reporting Standard applicable in the UK and Republic of Ireland” and the Companies Act 2006.

These financial statements for the year ended 31/07/2017 are the first financial statements that comply with FRS 102 Section 1A small entities. The date of transition is 06/07/2016. The transition to FRS 102 Section 1A small entities has resulted in a small number of changes in accounting policies to those used previously. The nature of these changes and any impact on opening equity and profit for the comparative period are explained in notes below.
 

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Vlk Solutions Limited

trading as VLK Solutions Limited

Notes to the Financial Statements for the Period from 6 July 2016 to 31 July 2017

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1.

4

Debtors

2017
£

Trade debtors

907

Other debtors

1,313

Total current trade and other debtors

2,220

5

Creditors

 

Vlk Solutions Limited

trading as VLK Solutions Limited

Notes to the Financial Statements for the Period from 6 July 2016 to 31 July 2017

Note

2017
£

Due within one year

 

Taxation and social security

 

1,925

Corporation Tax

 

7,177

 

9,102

6

Dividends

 

2017

 

£

Final dividend of £2,796.21 per ordinary share

27,962

   

7

Related party transactions

Transactions with directors

2017

Advances to directors
£

At 31 July 2017
£

Ms Victoria Johnson

Non-interest bearing advances made to director (repayable on demand)

990

990

     
   

 

Directors' remuneration

Other transactions with directors

Dividend of £27,962.16 was paid to the Director, Ms Johnson during the year. At the balance sheet date the amount due back to the company from Ms Johnson was £990.44.