Company Registration No. 01477688 (England and Wales)
VG PROPERTIES LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2016
VG PROPERTIES LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2
VG PROPERTIES LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2016
31 March 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
338,325
338,445
Investments
2
1,316,722
1,316,722
1,655,047
1,655,167
Current assets
Debtors
227,097
174,968
Cash at bank and in hand
126,544
66,827
353,641
241,795
Creditors: amounts falling due within one year
(122,142)
(112,088)
Net current assets
231,499
129,707
Total assets less current liabilities
1,886,546
1,784,874
Creditors: amounts falling due after more than one year
(796,451)
(859,761)
1,090,095
925,113
Capital and reserves
Called up share capital
3
300
300
Profit and loss account
1,089,795
924,813
Shareholders' funds
1,090,095
925,113
For the financial year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 9 August 2016
Micheal John Cowell
Director
Company Registration No. 01477688
VG PROPERTIES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets other than freehold land are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Land and buildings Freehold
Fixtures, fittings & equipment
15% Reducing balance
1.5
Investments
Fixed asset investments are stated at cost less provision for diminution in value.
2
Fixed assets
Tangible assets
Investments
Total
£
£
£
Cost
At 1 April 2015 & at 31 March 2016
340,905
1,316,722
1,657,627
Depreciation
At 1 April 2015
2,460
-
2,460
Charge for the year
120
-
120
At 31 March 2016
2,580
-
2,580
Net book value
At 31 March 2016
338,325
1,316,722
1,655,047
At 31 March 2015
338,445
1,316,722
1,655,167
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
300 Ordinary shares class 1 of £1 each
300
300