Registered number
11291795
VVN INTERNET SERVICE AND TECHNOLOGY LIMITED
Filleted Accounts
30 April 2023
VVN INTERNET SERVICE AND TECHNOLOGY LIMITED
Registered number: 11291795
Balance Sheet
as at 30 April 2023
Notes 2023 2022
£ £
Current assets
Stocks 343,846 191,313
Debtors 4 8,033 9,861
Cash at bank and in hand 80,517 57,058
432,396 258,232
Creditors: amounts falling due within one year 5 (628,957) (481,955)
Net current liabilities (196,561) (223,723)
Net liabilities (196,561) (223,723)
Capital and reserves
Called up share capital 100 100
Profit and loss account (196,661) (223,823)
Shareholders' funds (196,561) (223,723)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
Xiaodong Sun
Director
Approved by the board on 30 August 2023
VVN INTERNET SERVICE AND TECHNOLOGY LIMITED
Notes to the Accounts
for the year ended 30 April 2023
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.
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, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery:
Fixtures, fittings, tools and equipment 50% Straight Line
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 4 5
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 May 2022 708
At 30 April 2023 708
Depreciation
At 1 May 2022 708
At 30 April 2023 708
Net book value
At 30 April 2023 -
4 Debtors 2023 2022
£ £
Other debtors 8,033 9,861
5 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs - 8,067
Other creditors 628,957 473,888
628,957 481,955
6 Going Concern
After due consideration, the director considers it appropriate to prepare the accounts on the going concern basis.
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