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Unaudited Financial Statements |
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for the Year Ended 30 June 2019 |
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for |
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Versatility Group Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 30 June 2019 |
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for |
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Versatility Group Limited |
Versatility Group Limited (Registered number: 10818251) |
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Contents of the Financial Statements |
for the Year Ended 30 June 2019 |
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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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Versatility Group Limited |
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Company Information |
for the Year Ended 30 June 2019 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
4th Floor |
167 Fleet Street |
London |
EC4A 2EA |
Versatility Group Limited (Registered number: 10818251) |
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Balance Sheet |
30 June 2019 |
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2019 | 2018 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES | 8 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings | 9 |
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The director acknowledges his responsibilities for: |
(a) |
ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and |
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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 director on
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Versatility Group Limited (Registered number: 10818251) |
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Notes to the Financial Statements |
for the Year Ended 30 June 2019 |
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1. | STATUTORY INFORMATION |
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Versatility Group 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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Turnover |
Turnover represents rental income due for the period, net of value added tax. |
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Tangible fixed assets |
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Fixtures and fittings | - |
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Motor vehicles | - |
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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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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
lease. |
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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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Versatility Group Limited (Registered number: 10818251) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 June 2019 |
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4. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Motor | Computer |
fittings | vehicles | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 July 2018 |
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Additions |
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At 30 June 2019 |
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DEPRECIATION |
At 1 July 2018 |
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Charge for year |
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At 30 June 2019 |
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NET BOOK VALUE |
At 30 June 2019 |
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At 30 June 2018 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Directors' current accounts | 9,110 | 27,642 |
Tax |
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Prepayments and accrued income |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Corporation tax |
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Accruals and deferred income |
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7. | LEASING AGREEMENTS |
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Minimum lease payments under non-cancellable operating leases fall due as follows: |
2019 | 2018 |
£ | £ |
Within one year |
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Between one and five years |
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In more than five years |
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8. | PROVISIONS FOR LIABILITIES |
2019 | 2018 |
£ | £ |
Deferred tax | 14,298 | - |
Versatility Group Limited (Registered number: 10818251) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 June 2019 |
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8. | PROVISIONS FOR LIABILITIES - continued |
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Deferred |
tax |
£ |
Charge to Income Statement during year |
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Balance at 30 June 2019 |
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9. | RESERVES |
Retained |
earnings |
£ |
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At 1 July 2018 |
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Profit for the year |
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Dividends | ( |
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At 30 June 2019 |
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10. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
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The accounts include accrued interest receivable of £608 (2018: £438) on the director's overdrawn current |
account balance during the year. |
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11. | RELATED PARTY DISCLOSURES |
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During the previous period, the company entered into a 15 year lease for a property owned by Pastor Limited |
which is leased out to a third party. D S Bhail is a director of Pastor Limited. |
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Also during the previous period, the company entered into an agreement with the director, D S Bhail, to lease a |
property owned by him which it then rents out to third parties. |