VTK Structures Limited
Unaudited Financial Statements
For Filing with Registrar
For the year ended 31 December 2019
Company Registration No. 07245575 (England and Wales)
VTK Structures Limited
Balance Sheet
As at 31 December 2019
Page 1
2019
2018
Notes
£
£
£
£
Fixed assets
Tangible assets
3
33,144
33,144
Current assets
Debtors
4
263
1,273
Cash at bank and in hand
1,555
2,059
1,818
3,332
Creditors: amounts falling due within one year
5
(481,952)
(469,904)
Net current liabilities
(480,134)
(466,572)
Total assets less current liabilities
(446,990)
(433,428)
Capital and reserves
Called up share capital
6
100
100
Profit and loss reserves
(447,090)
(433,528)
Total equity
(446,990)
(433,428)
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 December 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
T
he director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
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 16 December 2020
S. D. Kent
Director
Company Registration No. 07245575
VTK Structures Limited
Notes to the Financial Statements
For the year ended 31 December 2019
Page 2
1
Accounting policies
Company information
VTK Structures Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
73 Maple Road, Maple Works, Surbiton, KT6 4AG.
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.
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.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was: 1
(2018: 1).
VTK Structures Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2019
Page 3
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2019 and 31 December 2019
53,538
Depreciation and impairment
At 1 January 2019 and 31 December 2019
20,394
Carrying amount
At 31 December 2019
33,144
At 31 December 2018
33,144
No depreciation was charged in the year as the assets were not in use.
4
Debtors
2019
2018
Amounts falling due within one year:
£
£
Other debtors
263
1,273
5
Creditors: amounts falling due within one year
2019
2018
£
£
Trade creditors
59,109
64,055
Other creditors
422,843
405,849
481,952
469,904
6
Called up share capital
2019
2018
£
£
Ordinary share capital
Issued and fully paid
100 Ordinary shares of £1 each
100
100
100
100