Registered Number 05318829
VQ COMMUNICATIONS LTD
Abbreviated Accounts
31 December 2014
Notes | 2014 | 2013 | |
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£ | £ | ||
Fixed assets | |||
Tangible assets | 2 |
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Current assets | |||
Debtors |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
( |
( |
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Net current assets (liabilities) |
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( |
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Total assets less current liabilities |
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( |
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Creditors: amounts falling due after more than one year |
( |
( |
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Total net assets (liabilities) |
( |
( |
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Capital and reserves | |||
Called up share capital | 3 |
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Share premium account |
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Other reserves |
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Profit and loss account |
( |
( |
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Shareholders' funds |
( |
( |
Approved by the Board on
And signed on their behalf by:
1Accounting Policies
Basis of measurement and preparation of accounts
Turnover policy
In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.
Tangible assets depreciation policy
Fixtures and fittings over 3 years
Computer equipment over 3 years
Other accounting policies
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.
Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
£ | |
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Cost | |
At 1 January 2014 |
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Additions |
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Disposals |
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Revaluations |
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Transfers |
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At 31 December 2014 |
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Depreciation | |
At 1 January 2014 |
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Charge for the year |
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On disposals |
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At 31 December 2014 |
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Net book values | |
At 31 December 2014 | 12,883 |
At 31 December 2013 | 10,681 |