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VERDA LIMITED |
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Unaudited Financial Statements |
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for the Year Ended 31 December 2016 |
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VERDA LIMITED |
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Unaudited Financial Statements |
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for the Year Ended 31 December 2016 |
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VERDA LIMITED (REGISTERED NUMBER: 04875261) |
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Contents of the Financial Statements |
for the Year Ended 31 December 2016 |
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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 | 3 |
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VERDA LIMITED |
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Company Information |
for the Year Ended 31 December 2016 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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88 Hill Village Road |
Sutton Coldfield |
West Midlands |
B75 5BE |
VERDA LIMITED (REGISTERED NUMBER: 04875261) |
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Balance Sheet |
31 December 2016 |
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2016 | 2015 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investments | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 | ( |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital | 8 |
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Retained earnings | 9 |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their 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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
its behalf by: |
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VERDA LIMITED (REGISTERED NUMBER: 04875261) |
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Notes to the Financial Statements |
for the Year Ended 31 December 2016 |
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1. | STATUTORY INFORMATION |
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Verda Limited is a
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company's registered number and registered office address can be found on the Company Information |
page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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These financial statements for the year ended 31 December 2016 are the first financial statements that |
comply with FRS 102 Section 1A small entities. |
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The transition to FRS 102 Section 1A small entities has resulted in a small number of changes in |
accounting policies to those used previously. |
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The nature of these changes and their impact on opening equity and profit for the comparative period |
are explained in the notes to 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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Tangible fixed assets |
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Computer equipment | - |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, |
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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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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Investments |
Unquoted fixed asset investments are stated at cost less provision for diminution in value. |
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Listed fixed asset investments are stated at fair value. |
VERDA LIMITED (REGISTERED NUMBER: 04875261) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2016 |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Computer |
equipment |
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COST |
At 1 January 2016 |
and 31 December 2016 |
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DEPRECIATION |
At 1 January 2016 |
and 31 December 2016 |
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NET BOOK VALUE |
At 31 December 2016 |
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At 31 December 2015 |
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5. | FIXED ASSET INVESTMENTS |
Listed | Unlisted |
investments | investments | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1 January 2016 |
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139,992 |
Additions |
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7,896 |
Revaluations |
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12,274 |
At 31 December 2016 |
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160,162 |
NET BOOK VALUE |
At 31 December 2016 |
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160,162 |
At 31 December 2015 |
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139,992 |
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Cost or valuation at 31 December 2016 is represented by: |
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Listed | Unlisted |
investments | investments | Totals |
£ | £ | £ |
Valuation in 2016 | 148,817 | 11,345 | 160,162 |
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The company owns 11,345 (32.41%) of the issued ordinary share capital of Borman Murcott Limited, |
an unlisted company registered in England and Wales. |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2016 | 2015 |
£ | £ |
Other debtors |
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VERDA LIMITED (REGISTERED NUMBER: 04875261) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2016 |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2016 | 2015 |
£ | £ |
Taxation and social security |
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Other creditors |
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8. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2016 | 2015 |
value: | £ | £ |
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Ordinary | £1 | 11,345 | 11,345 |
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9. | RESERVES |
Retained |
earnings |
£ |
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At 1 January 2016 |
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Profit for the year |
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Dividends | ( |
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At 31 December 2016 |
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10. | RELATED PARTY DISCLOSURES |
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During the year, dividends of £38,087 (2015: £58,994) were received from an associated company. |
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Management charges of £26,250 (2015: £25,000) were received from an associated company. |
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During the year, dividends of £49,411 (2015: £26,971) were paid to the directors. Dividends of |
£43,078 (2015: £23,514) were paid to other shareholders. |
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11. | ULTIMATE CONTROLLING PARTY |
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The ultimate controlling party is
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12. | FIRST YEAR ADOPTION |
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The listed fixed asset investments were previously included in the balance sheet at cost. In |
accordance with FRS 102 1A the listed fixed asset investments is now shown at fair value. This |
resulted in an increase of retained earnings brought forward at 1 January 2016 of £10,033. |
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