Registered number
05624641
Vincent Paul UK Ltd
Filleted Accounts
31 March 2018
Vincent Paul UK Ltd
Registered number: 05624641
Balance Sheet
as at 31 March 2018
Notes 2018 2017
£ £
Fixed assets
Tangible assets 3 11,871 15,828
Current assets
Debtors 4 4,470 -
Cash at bank and in hand 19,857 9,052
24,327 9,052
Creditors: amounts falling due within one year 5 (28,520) (16,972)
Net current liabilities (4,193) (7,920)
Total assets less current liabilities 7,678 7,908
Creditors: amounts falling due after more than one year 6 (3,201) (6,156)
Provisions for liabilities (2,255) -
Net assets 2,222 1,752
Capital and reserves
Called up share capital 1 1
Profit and loss account 2,221 1,751
Shareholder's funds 2,222 1,752
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
W V Roode
Director
Approved by the board on 13 November 2018
Vincent Paul UK Ltd
Notes to the Accounts
for the year ended 31 March 2018
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost on a reducing balance basis , as follows:
Plant and machinery 25% per year
Fixtures, fittings, tools and equipment 25% per year
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2018 2017
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2017 4,627 19,995 24,622
At 31 March 2018 4,627 19,995 24,622
Depreciation
At 1 April 2017 3,795 4,999 8,794
Charge for the year 208 3,749 3,957
At 31 March 2018 4,003 8,748 12,751
Net book value
At 31 March 2018 624 11,247 11,871
At 31 March 2017 832 14,996 15,828
4 Debtors 2018 2017
£ £
Trade debtors 4,470 -
5 Creditors: amounts falling due within one year 2018 2017
£ £
Obligations under finance lease and hire purchase contracts 2,955 2,955
Trade creditors 185 3,292
Corporation tax 2,058 3,222
Other taxes and social security costs 4,161 (311)
Other creditors 19,161 7,814
28,520 16,972
6 Creditors: amounts falling due after one year 2018 2017
£ £
Obligations under finance lease and hire purchase contracts 3,201 6,156
7 Loans to the company from directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
W V Roode
Interest Free Loan 7,813 14,480 (3,132) 19,161
7,813 14,480 (3,132) 19,161
8 Other information
Vincent Paul UK Ltd is a private company limited by shares and incorporated in England. Its registered office is:
7 Turnpike Road
Red Lodge
Bury St Edmunds
Suffolk
IP28 8JZ
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