REGISTERED NUMBER:
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THE VELOCETTE MOTOR CYCLE COMPANY LTD |
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ABBREVIATED UNAUDITED ACCOUNTS |
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FOR THE YEAR ENDED 31 JANUARY 2015 |
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REGISTERED NUMBER:
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THE VELOCETTE MOTOR CYCLE COMPANY LTD |
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ABBREVIATED UNAUDITED ACCOUNTS |
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FOR THE YEAR ENDED 31 JANUARY 2015 |
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THE VELOCETTE MOTOR CYCLE COMPANY LTD (REGISTERED NUMBER: 07405259) |
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CONTENTS OF THE ABBREVIATED ACCOUNTS |
FOR THE YEAR ENDED 31 JANUARY 2015 |
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Page |
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Company Information | 1 |
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Abbreviated Balance Sheet | 2 |
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Notes to the Abbreviated Accounts | 4 |
THE VELOCETTE MOTOR CYCLE COMPANY LTD |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 JANUARY 2015 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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BANKERS: |
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THE VELOCETTE MOTOR CYCLE COMPANY LTD (REGISTERED NUMBER: 07405259) |
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ABBREVIATED BALANCE SHEET |
31 JANUARY 2015 |
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2015 | 2014 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 2 |
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Tangible assets | 3 |
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CURRENT ASSETS |
Stocks |
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Debtors |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
( |
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( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 4 |
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Profit and loss account |
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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. |
THE VELOCETTE MOTOR CYCLE COMPANY LTD (REGISTERED NUMBER: 07405259) |
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ABBREVIATED BALANCE SHEET - continued |
31 JANUARY 2015 |
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The financial statements were approved by the Board of Directors on
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THE VELOCETTE MOTOR CYCLE COMPANY LTD (REGISTERED NUMBER: 07405259) |
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NOTES TO THE ABBREVIATED ACCOUNTS |
FOR THE YEAR ENDED 31 JANUARY 2015 |
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1. | ACCOUNTING POLICIES |
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Accounting convention |
The financial statements have been prepared under the historical cost convention and in accordance with the |
Financial Reporting Standard for Smaller Entities (effective April 2008). |
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Turnover |
Turnover represents invoiced sales of goods and services, excluding value added tax. |
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Goodwill |
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Tangible fixed assets |
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Plant and machinery etc | - |
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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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Deferred tax |
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. |
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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. |
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Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in |
which timing differences reverse, based on tax rates and laws enacted at the balance sheet date. |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling |
at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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2. | INTANGIBLE FIXED ASSETS |
Total |
£ |
COST |
At 1 February 2014 |
and 31 January 2015 |
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AMORTISATION |
At 1 February 2014 |
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Amortisation for year |
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At 31 January 2015 |
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NET BOOK VALUE |
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At 31 January 2015 |
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At 31 January 2014 |
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THE VELOCETTE MOTOR CYCLE COMPANY LTD (REGISTERED NUMBER: 07405259) |
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NOTES TO THE ABBREVIATED ACCOUNTS - continued |
FOR THE YEAR ENDED 31 JANUARY 2015 |
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3. | TANGIBLE FIXED ASSETS |
Total |
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COST |
At 1 February 2014 |
and 31 January 2015 |
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DEPRECIATION |
At 1 February 2014 |
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Charge for year |
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At 31 January 2015 |
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NET BOOK VALUE |
At 31 January 2015 |
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At 31 January 2014 |
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4. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2015 | 2014 |
value: | £ | £ |
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Ordinary | £1.00 |
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'A' Ordinary | £1.00 |
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200 | 200 |
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The rights of the 'A' Shares are as follows:- |
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Voting: The 'A' Shares will not be entitled to receive notice of, or attend or vote at any general meeting of the |
company. |
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Participation: In the event of winding-up, sales, or other return on capital in the company, the holders of the 'A' |
shares will be entitled to receive payment of the capital paid up on such shares together with the holders of any |
other class of shares in issue (ass if they constituted one class of shares). |
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Following the repayment of all paid up share capital to all shareholders entitled to receive repayment of the |
capital paid upon their shares, the 'A' shares shall not confer the right to any further or other participation in the |
profits or assets of the company. |
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Dividend: A Dividend may be paid in respect of this class of share to the exclusion of any other class of share |
currently in issue. Where a dividend is declared in respect of all classes of share the company may by ordinary |
resolution differentiate between this and any or all other classes as to the amount or percentage of dividend |
payable, but by default the shares in this class shall be deemed to rank pari passu with any other share class |
currently in issue, unless the rights attached to such other class specify otherwise. |
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Redemption: The 'A' Shares redeemable shares and may be redeemed at the option of the company upon the |
delivery of seven days' written notice. There shall be paid to the shareholder on each of their shares to be |
redeemed to the value of GBP 1.00. |