Tiny Vfx - Period Ending 2018-03-31


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Registration number: 10065739

Tiny Vfx

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2018

MRO Accounts Limited
Chartered Accountants
Maylands Business Centre
Redbourn Road
Hemel Hempstead
Hertfordshire
HP2 7ES

 

Tiny Vfx

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Statement of Changes in Equity

4

Notes to the Financial Statements

5 to 7

 

Tiny Vfx

Company Information

Director

T Young

Registered office

51 Meadow Road
Berkhamsted
Herts
HP4 1EB

Accountants

MRO Accounts Limited
Chartered Accountants
Maylands Business Centre
Redbourn Road
Hemel Hempstead
Hertfordshire
HP2 7ES

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Tiny Vfx
for the Year Ended 31 March 2018

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Tiny Vfx for the year ended 31 March 2018 as set out on pages 3 to 7 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 Tiny Vfx, 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 Tiny Vfx and state those matters that we have agreed to state to the Board of Directors of Tiny Vfx, 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 Tiny Vfx and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Tiny Vfx 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 Tiny Vfx. You consider that Tiny Vfx is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Tiny Vfx. 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.

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

MRO Accounts Limited
Chartered Accountants
Maylands Business Centre
Redbourn Road
Hemel Hempstead
Hertfordshire
HP2 7ES

8 October 2018

 

Tiny Vfx

(Registration number: 10065739)
Balance Sheet as at 31 March 2018

Note

2018
£

2017
£

Fixed assets

 

Tangible assets

4

5,246

4,234

Current assets

 

Debtors

5

2,160

4,020

Cash at bank and in hand

 

25,631

13,566

 

27,791

17,586

Creditors: Amounts falling due within one year

6

(17,556)

(14,407)

Net current assets

 

10,235

3,179

Net assets

 

15,481

7,413

Capital and reserves

 

Called up share capital

2

2

Profit and loss account

15,479

7,411

Total equity

 

15,481

7,413

For the financial year ending 31 March 2018 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 year in question in accordance with section 476; and

The director acknowledges his 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 8 October 2018
 

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

T Young

Director

 

Tiny Vfx

Statement of Changes in Equity for the Year Ended 31 March 2018

Share capital
£

Profit and loss account
£

Total
£

At 1 April 2017

2

7,411

7,413

Profit for the year

-

46,868

46,868

Total comprehensive income

-

46,868

46,868

Dividends

-

(38,800)

(38,800)

At 31 March 2018

2

15,479

15,481

Share capital
£

Profit and loss account
£

Total
£

Profit for the year

-

45,311

45,311

Total comprehensive income

-

45,311

45,311

Dividends

-

(37,900)

(37,900)

New share capital subscribed

2

-

2

At 31 March 2017

2

7,411

7,413

 

Tiny Vfx

Notes to the Financial Statements for the Year Ended 31 March 2018

1

General information

The company is a private company limited by share capital incorporated in England and Wales.

The address of its registered office is:
51 Meadow Road
Berkhamsted
Herts
HP4 1EB

These financial statements were authorised for issue by the director on 8 October 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 Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Computer equipment

25% straight line

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.

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.

 

Tiny Vfx

Notes to the Financial Statements for the Year Ended 31 March 2018

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 year, was 2 (2017 - 2).

 

Tiny Vfx

Notes to the Financial Statements for the Year Ended 31 March 2018

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2017

5,646

5,646

Additions

3,232

3,232

At 31 March 2018

8,878

8,878

Depreciation

At 1 April 2017

1,412

1,412

Charge for the year

2,220

2,220

At 31 March 2018

3,632

3,632

Carrying amount

At 31 March 2018

5,246

5,246

At 31 March 2017

4,234

4,234

5

Debtors

2018
£

2017
£

Trade debtors

2,160

4,020

Total current trade and other debtors

2,160

4,020

6

Creditors

Note

2018
£

2017
£

Due within one year

 

Amounts owed to group undertakings and undertakings in which the company has a participating interest

2,398

1,198

Taxation and social security

 

2,872

1,795

Other creditors

 

12,286

11,414

 

17,556

14,407