VTK Structures Limited
Annual Report and Unaudited Financial Statements
For the year ended 31 December 2016
PAGES FOR FILING WITH REGISTRAR
Company Registration No. 07245575 (England and Wales)
VTK Structures Limited
Balance Sheet
As at 31 December 2016
Page 1
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
3
33,144
33,144
Current assets
Debtors
4
114
12,526
Cash at bank and in hand
658
1,707
772
14,233
Creditors: amounts falling due within one year
5
(262,902)
(306,740)
Net current liabilities
(262,130)
(292,507)
Total assets less current liabilities
(228,986)
(259,363)
Creditors: amounts falling due after more than one year
6
(177,017)
(177,017)
Net liabilities
(406,003)
(436,380)
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
(406,103)
(436,480)
Total equity
(406,003)
(436,380)
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
VTK Structures Limited
Balance Sheet (Continued)
As at 31 December 2016
Page 2
For the financial year ended 31 December 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and signed by the director and authorised for issue on 26 September 2017
S. D. Kent
Director
Company Registration No. 07245575
VTK Structures Limited
Notes to the Financial Statements
For the year ended 31 December 2016
Page 3
1
Accounting policies
Company information
VTK Structures Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
Provender Mill, Mill Bay Lane, Horsham, West Sussex, RH12 1SS.
1.1
Accounting convention
These financial statements have been prepared in accordance with Section 1A of FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest pound.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
These financial statements for the year ended 31 December 2016
are the
first
financial statements of VTK Structures Limited prepared in accordance with
Section 1A of
FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. The date of transition to FRS 102 was 1 January 2015. The reported financial position and financial performance for the previous period are not affected by the transition to FRS 102.
1.2
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and machinery
5 years straight line basis
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.3
Cash and cash equivalents
Cash and cash equivalents include cash in hand
and deposits held at call with banks. Bank overdrafts are shown within borrowings in current liabilities.
1.4
Financial instruments
The company only has financial instruments classified as basic and measured at amortised cost. The company has no financial instruments classified as 'other' or financial instruments measured at fair value.
1.5
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
VTK Structures Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2016
Page 4
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was: 1 (2015: 1).
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2016 and 31 December 2016
53,538
Depreciation and impairment
At 1 January 2016 and 31 December 2016
20,394
Carrying amount
At 31 December 2016
33,144
At 31 December 2015
33,144
No depreciation was charged in the year as the assets were not in use.
4
Debtors
2016
2015
Amounts falling due within one year:
£
£
Other debtors
114
12,526
5
Creditors: amounts falling due within one year
2016
2015
£
£
Trade creditors
62,372
109,913
Other creditors
200,530
196,827
262,902
306,740
6
Creditors: amounts falling due after more than one year
2016
2015
£
£
Other creditors
177,017
177,017
VTK Structures Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2016
Page 5
7
Called up share capital
2016
2015
£
£
Ordinary share capital
Issued and fully paid
100 Ordinary shares of £1 each
100
100