COMPANY REGISTRATION NUMBER
06427277
Validus Associates Ltd
Unaudited Abbreviated Accounts
31 December 2015
Brooks Carling Accountants Limited
Reporting accountants
Highview House, 1st Floor,
Tattenham Crescent
Epsom
Surrey
KT18 5QJ
Validus Associates Ltd
Reporting accountants' report to the directors of
Validus Associates Ltd
Year ended 31 December 2015
You consider that the Company is exempt from an audit for the year ended 31 December 2015. You have acknowledged, on the Balance sheet, your responsibilities for ensuring that the Company keeps accounting records which comply with section 386 of the Companies Act 2006, and for preparing financial statements which give a true and fair view of the state of affairs of the Company and of its loss for the financial year.
In accordance with your instructions, we have prepared the financial statements on pages 2 to 4 from the accounting records of the Company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these financial statements.
Brooks Carling Accountants Limited
Reporting accountants
Highview House, 1st Floor,
Tattenham Crescent
Epsom
Surrey
KT18 5QJ
30 September 2016
Validus Associates Ltd
Abbreviated balance sheet
31 December 2015
|
2015
|
2014
|
Note
|
£
|
£
|
£
|
Fixed assets
|
2
|
|
|
|
Tangible assets
|
|
4,766
|
5,284
|
|
|
-------
|
-------
|
|
|
|
|
|
Current assets
Debtors
|
16,815
|
|
12,499
|
Cash at bank and in hand
|
4,384
|
|
4,132
|
|
--------
|
|
--------
|
|
21,199
|
|
16,631
|
Creditors: Amounts falling due within one year
|
343,220
|
|
190,565
|
|
---------
|
|
---------
|
Net current liabilities
|
|
(
322,021)
|
(
173,934)
|
|
|
---------
|
---------
|
Total assets less current liabilities
|
|
(
317,255)
|
(
168,650)
|
|
|
---------
|
---------
|
|
|
|
|
Capital and reserves
Called up equity share capital
|
3
|
|
100
|
100
|
Profit and loss account
|
|
(
317,355)
|
(
168,750)
|
|
|
---------
|
---------
|
Deficit
|
|
(
317,255)
|
(
168,650)
|
|
|
---------
|
---------
|
|
|
|
|
|
For the year ended 31 December 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 accounts for the year in question in accordance with section 476; and
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These abbreviated accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime.
These abbreviated accounts were approved by the directors and authorised for issue on
30 September 2016
, and are signed on their behalf by:
J Kirkland
M Perrett
Company Registration Number:
06427277
Validus Associates Ltd
Notes to the abbreviated accounts
Year ended 31 December 2015
1.
Accounting policies
Basis of accounting
The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
Turnover
Turnover is the amount derived from ordinary activities during the year. It is stated after trade discounts, other sales taxes and net of VAT.
Fixed assets
All fixed assets are initially recorded at cost.
Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Fixtures & Fittings -25% written down value
Equipment-25% written down value
Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax, with the following exceptions:
Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.
Foreign currencies
Transactions in foreign currencies are translated at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the rate of exchange ruling at the balance sheet date. Non-monetary items carried at fair value that are denominated in foreign currencies are re-translated at the rates prevailing on the date when the fair value was determined. Non-monetary items that are measured at historical cost in a foreign currency are not re-translated.
Exchange differences arising on the settlement of monetary items and on the retranslation of monetary items are taken to the profit and loss account. Exchange differences arising on non-monetary items, carried at fair value, are included in the profit and loss account, except for the differences arising on the retranslation of non-monetary items in respect of which gains and losses are recorded in equity. For such non-monetary items, any exchange component of that gain or loss is also recognised directly in equity.
Going concern policy
Notwithstanding the fact that the company is technically insolvent as it has net current liabilities and net liabilities, the accounts have been prepared on the going concern basis as the company has the continued support of the directors.
2.
Fixed assets
Cost
At 1 January 2015
|
7,571
|
Additions
|
675
|
|
-------
|
At 31 December 2015
|
8,246
|
|
-------
|
|
|
Depreciation
At 1 January 2015
|
2,287
|
Charge for year
|
1,193
|
|
-------
|
At 31 December 2015
|
3,480
|
|
-------
|
|
|
Net book value
At 31 December 2015
|
4,766
|
|
-------
|
|
|
At 31 December 2014
|
5,284
|
|
-------
|
|
|
3.
Share capital
Allotted, called up and fully paid:
|
2015
|
2014
|
|
No.
|
£
|
No.
|
£
|
|
Ordinary shares shares of £ 1 each
|
100
|
100
|
100
|
100
|
|
|
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|
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|
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|
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|
|
|
|
|
|
|