Company Registration No. 01477688 (England and Wales)
VG PROPERTIES LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2015
VG PROPERTIES LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
VG PROPERTIES LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2015
31 March 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
338,445
338,589
Investments
2
1,316,722
180,000
1,655,167
518,589
Current assets
Debtors
174,968
234,468
Cash at bank and in hand
66,827
229,732
241,795
464,200
Creditors: amounts falling due within one year
(112,088)
(105,884)
Net current assets
129,707
358,316
Total assets less current liabilities
1,784,874
876,905
Creditors: amounts falling due after more than one year
(859,761)
-
925,113
876,905
Capital and reserves
Called up share capital
3
300
300
Profit and loss account
924,813
876,605
Shareholders' funds
925,113
876,905
For the financial year ended 31 March 2015 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 2 June 2015
Micheal John Cowell
Director
Company Registration No. 01477688
VG PROPERTIES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2015
- 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 April 2008).
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 2014
340,905
180,000
520,905
Additions
-
1,136,722
1,136,722
At 31 March 2015
340,905
1,316,722
1,657,627
Depreciation
At 1 April 2014
2,315
-
2,315
Charge for the year
145
-
145
At 31 March 2015
2,460
-
2,460
Net book value
At 31 March 2015
338,445
1,316,722
1,655,167
At 31 March 2014
338,589
180,000
518,589
VG PROPERTIES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2015
- 3 -
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
300 Ordinary shares class 1 of £1 each
300
300