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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 OCTOBER 2017 |
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THE VAULTS ( EXETER) LIMITED |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 OCTOBER 2017 |
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FOR |
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THE VAULTS ( EXETER) LIMITED |
THE VAULTS ( EXETER) LIMITED (REGISTERED NUMBER: 04850062) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 OCTOBER 2017 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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THE VAULTS ( EXETER) LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 OCTOBER 2017 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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2 Barnfield Crescent |
Exeter |
Devon |
EX1 1QT |
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BANKERS: |
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234 High Street |
Exeter |
Devon |
EX4 3NL |
THE VAULTS ( EXETER) LIMITED (REGISTERED NUMBER: 04850062) |
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BALANCE SHEET |
31 OCTOBER 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 5 |
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Tangible assets | 6 |
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CURRENT ASSETS |
Stocks |
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Debtors | 7 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 8 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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( |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS/(LIABILITIES) |
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( |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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( |
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SHAREHOLDERS' FUNDS |
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( |
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The director acknowledges his responsibilities for: |
(a) |
ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the
Companies Act 2006 and |
(b) |
preparing financial statements which give a true and fair view of the state of affairs of the company as
at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
THE VAULTS ( EXETER) LIMITED (REGISTERED NUMBER: 04850062) |
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BALANCE SHEET - continued |
31 OCTOBER 2017 |
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In accordance with Section 444 of the Companies Act 2006, the Profit & Loss has not been delivered. |
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The financial statements were approved by the director on
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THE VAULTS ( EXETER) LIMITED (REGISTERED NUMBER: 04850062) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 OCTOBER 2017 |
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1. | STATUTORY INFORMATION |
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The Vaults ( Exeter) Limited is a
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Wales. The company's registered number and registered office address can be found on the |
Company Information page. |
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2. | STATEMENT OF COMPLIANCE |
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3. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding |
discounts, rebates, value added tax and other sales taxes. |
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Goodwill |
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being |
amortised evenly over its remaining useful life of six years. |
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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured |
at cost less any accumulated amortisation and any accumulated impairment losses. |
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Tangible fixed assets |
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Buildings | - |
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Fixtures & fittings | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for |
obsolete and slow moving items. |
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Financial instruments |
Basic financial instruments are recognised at amortised cost, except for investments in |
non-convertible preference and non-puttable ordinary shares which are measured at fair value, with |
changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and |
thereafter at fair value with changes recognised in profit or loss. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss, |
except to the extent that it relates to items recognised in other comprehensive income or directly in |
equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been |
enacted or substantively enacted by the balance sheet date. |
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THE VAULTS ( EXETER) LIMITED (REGISTERED NUMBER: 04850062) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 OCTOBER 2017 |
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3. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
the balance sheet date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods |
different from those in which they are recognised in financial statements. Deferred tax is measured |
using tax rates and laws that have been enacted or substantively enacted by the year end and that are |
expected to apply to the reversal of the timing difference. |
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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. |
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4. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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5. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 November 2016 |
and 31 October 2017 |
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AMORTISATION |
At 1 November 2016 |
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Amortisation for year |
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At 31 October 2017 |
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NET BOOK VALUE |
At 31 October 2017 |
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At 31 October 2016 |
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6. | TANGIBLE FIXED ASSETS |
Fixtures |
Buildings | & fittings | Totals |
£ | £ | £ |
COST |
At 1 November 2016 |
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Additions |
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At 31 October 2017 |
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DEPRECIATION |
At 1 November 2016 |
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Charge for year |
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At 31 October 2017 |
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NET BOOK VALUE |
At 31 October 2017 |
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At 31 October 2016 |
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THE VAULTS ( EXETER) LIMITED (REGISTERED NUMBER: 04850062) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 OCTOBER 2017 |
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7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Other debtors |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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9. | LEASING AGREEMENTS |
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Minimum lease payments under non-cancellable operating leases fall due as follows: |
2017 | 2016 |
£ | £ |
Within one year |
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Between one and five years |
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In more than five years |
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10. | CONTINGENT LIABILITIES |
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The company has acquired the Goodwill of the business previously operated by the Directors at a |
valuation as shown in the accounts. The transfer to the company was made subject to hold-over |
elections for taxation purposes which have the effect of passing on to the company any Capital Gains |
Tax liability that may have been payable by the Directors on the transaction. The company therefore |
has a contingent liability to pay taxation, but the amount of the liability cannot be determined until a |
disposal of Goodwill actually occurs. |
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11. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the years ended 31 October 2017 |
and 31 October 2016: |
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2017 | 2016 |
£ | £ |
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Balance outstanding at start of year | ( |
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Amounts advanced |
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Amounts repaid | ( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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( |
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12. | RELATED PARTY DISCLOSURES |
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During the year, the director received a loan from the company. No interest has been charged and |
there are no set terms of repayment. |
THE VAULTS ( EXETER) LIMITED (REGISTERED NUMBER: 04850062) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 OCTOBER 2017 |
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13. | FIRST YEAR ADOPTION |
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At the date of transition, 1 November 2015, no changes were required to any balances in the financial |
statements. |