Caseware UK (AP4) 2016.0.181 2016.0.181 2018-03-312018-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truetruefalse2017-02-15 10622143 2017-02-14 10622143 2017-02-15 2018-03-31 10622143 2018-03-31 10622143 c:Director1 2017-02-15 2018-03-31 10622143 d:Goodwill 2017-02-15 2018-03-31 10622143 d:Goodwill 2018-03-31 10622143 d:CurrentFinancialInstruments 2018-03-31 10622143 d:CurrentFinancialInstruments d:WithinOneYear 2018-03-31 10622143 d:ShareCapital 2018-03-31 10622143 d:RetainedEarningsAccumulatedLosses 2018-03-31 10622143 c:FRS102 2017-02-15 2018-03-31 10622143 c:AuditExempt-NoAccountantsReport 2017-02-15 2018-03-31 10622143 c:FullAccounts 2017-02-15 2018-03-31 10622143 c:PrivateLimitedCompanyLtd 2017-02-15 2018-03-31 10622143 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2017-02-15 2018-03-31 10622143 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2018-03-31 iso4217:GBP xbrli:pure
Registered number: 10622143









VEHICLE REGISTRATION SERVICES LIMITED

UNAUDITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 MARCH 2018

 
VEHICLE REGISTRATION SERVICES LIMITED
REGISTERED NUMBER: 10622143

BALANCE SHEET
AS AT 31 MARCH 2018

2018
Note
£

Fixed assets
  

Intangible assets
  
7,500

  
7,500

Current assets
  

Debtors: amounts falling due within one year
 5 
7,507

Cash at bank and in hand
  
15,468

  
22,975

Creditors: amounts falling due within one year
 6 
(15,594)

Net current assets
  
 
 
7,381

Total assets less current liabilities
  
14,881


Capital and reserves
  

Called up share capital 
  
100

Profit and loss account
  
14,781

  
14,881


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Mr B G Cowland
Director

Date: 12 November 2018

The notes on pages 2 to 5 form part of these financial statements.

Page 1

 
VEHICLE REGISTRATION SERVICES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2018

1.


General information

Vehicle Registration Services Limited is a private Company limited by shares incorporated in England and Wales within the United Kingdom. The address of the registered office is Unit G, Dales Manor Business Park, Sawston, Cambridge, CB22 3TJ. This Company is not part of a group.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to the Statement of Income and Retained Earnings on a straight line basis over the lease term.

 
2.4

Taxation

Tax is recognised in the Statement of Income and Retained Earnings, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Page 2

 
VEHICLE REGISTRATION SERVICES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2018

2.Accounting policies (continued)

 
2.5

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis to the Statement of Income and Retained Earnings over its useful economic life.

Other intangible assets

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful life is as follows:

Goodwill
-
4
years

 
2.6

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.

 
2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 3

 
VEHICLE REGISTRATION SERVICES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2018

3.


Employees

The average monthly number of employees, including directors, during the period was 1.


4.


Intangible assets



Goodwill

£



Cost


Additions
10,000



At 31 March 2018

10,000



Amortisation


Charge for the year
2,500



At 31 March 2018

2,500



Net book value



At 31 March 2018
7,500


5.


Debtors

2018
£


Trade debtors
4,904

Prepayments and accrued income
2,603

7,507



6.


Creditors: Amounts falling due within one year

2018
£

Trade creditors
217

Corporation tax
6,634

Other taxation and social security
2,363

Other creditors
5,130

Accruals and deferred income
1,250

15,594


Page 4

 
VEHICLE REGISTRATION SERVICES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2018

7.


Share capital

2018
£
Allotted, called up and fully paid


100 Ordinary shares of £1.00 each
100


During the period 100 Ordinary shares were issued and paid at par for cash consideration.


8.


Related party transactions

During the period the Company operated a loan account with the director of the Company. The amount due to the director of the Company at the period end was £5,130. This loan is interest free and repayable on demand.


Page 5