Company Registration No. 10616686 (England and Wales)
Volvex Ltd
Unaudited accounts
for the period from 13 February 2017 to 28 February 2018
Volvex Ltd
Unaudited accounts
Contents
Volvex Ltd
Company Information
for the period from 13 February 2017 to 28 February 2018
Company Number
10616686 (England and Wales)
Registered Office
92 STAPLEHURST CLOSE
SOUTHAMPTON
HAMPSHIRE
SO19 9QT
UNITED KINGDOM
Accountants
Cone Accounting Limited
85 Great Portland Street
First Floor
London
W1W 7LT
Volvex Ltd
Statement of financial position
as at 28 February 2018
Cash at bank and in hand
4,107
Creditors: amounts falling due within one year
(24,838)
Net current liabilities
(20,731)
Profit and loss account
(13,229)
Shareholders' funds
(13,228)
For the period ending 28 February 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 13 November 2018.
Kaspars Liepins
Director
Company Registration No. 10616686
Volvex Ltd
Notes to the Accounts
for the period from 13 February 2017 to 28 February 2018
Volvex Ltd is a private company, limited by shares, registered in England and Wales, registration number 10616686. The registered office is 92 STAPLEHURST CLOSE, SOUTHAMPTON, HAMPSHIRE, SO19 9QT, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Monetary 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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Straight Line
Motor vehicles
20% Straight Line
Fixtures & fittings
25% Straight Line
Computer equipment
33.33% Straight Line
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Volvex Ltd
Notes to the Accounts
for the period from 13 February 2017 to 28 February 2018
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 13 February 2017
-
-
-
-
-
Additions
765
5,500
810
1,569
8,644
At 28 February 2018
765
5,500
810
1,569
8,644
Charge for the period
110
627
140
264
1,141
At 28 February 2018
110
627
140
264
1,141
At 28 February 2018
655
4,873
670
1,305
7,503
5
Creditors: amounts falling due within one year
2018
Loans from directors
20,452
6
Average number of employees
During the period the average number of employees was 3.