VEYRON DEVELOPMENTS LIMITED
REGISTERED NUMBER:
04965279
ABBREVIATED BALANCE SHEET
AS AT
30 DECEMBER 2014
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Debtors: amounts falling due after more than one year
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Debtors: amounts falling due within one year
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CREDITORS:
amounts falling due within one year
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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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For the year ending 30 December 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 ("the Act") relating to small companies.
Director's responsibilities:
 
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·
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.
 
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The abbreviated accounts, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006,
were approved and authorised for issue by the board and were signed on its behalf on
25 September 2015
.
The notes on pages 2 to 5 form part of these financial statements.
Page 1
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VEYRON DEVELOPMENTS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 DECEMBER 2014
1.
ACCOUNTING POLICIES
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Basis of preparation of financial statements
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The full financial statements, from which these abbreviated accounts have been extracted, 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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The company is the parent undertaking of a small group and as such is not required by the Companies Act 2006 to prepare group accounts. These financial statements therefore present information about the company as an individual undertaking and not about its group.
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The financial statements have been prepared on a going concern basis which is dependent on the continued support of its shareholders. The company is currently able to meet its liabilities as they fall due. In the opinion of the director, the shareholder will continue to financially support the company and has no intention of withdrawing support for the foreseeable future. The director therefore considers that it is appropriate to prepare the financial statements on the going concern basis.
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Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts.
Revenue in respect of recharged expenses is recognised when the expenses are incurred.
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Tangible fixed assets and depreciation
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Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
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L/Term Leasehold Property
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Over the term of the lease
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Computer and office equipment
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The company has leased assets under a finance lease where substantially all of the benefits and risks of ownership are assumed by the lessee. As the lessor the company recognises the investment in the finance lease net of the finance charge allocated to future periods. The finance element of the rental receipt is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net outstanding balance in each period.
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Page 2
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VEYRON DEVELOPMENTS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 DECEMBER 2014
2.
TANGIBLE FIXED ASSETS
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At 30 December 2013 and 30 December 2014
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Page 3
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VEYRON DEVELOPMENTS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 DECEMBER 2014
2.
TANGIBLE FIXED ASSETS (continued)
3.
FIXED ASSET INVESTMENTS
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At 31 December 2013 and 30 December 2014
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Subsidiary undertakings
The following were subsidiary undertakings of the company:
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Veyron 32 Limited (Dormant)
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The aggregate of the share capital and reserves as at 30 December 2014 and of the profit or loss for the year ended on that date for the subsidiary undertakings were as follows:
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Aggregate of share capital and reserves
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Veyron 32 Limited (Dormant)
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4.
DEBTORS
Debtors include £546,119
(2013 - £
NIL
)
falling due after more than one year.
5.
CREDITORS:
Amounts falling due after more than one year
Creditors include amounts not wholly repayable within 5 years as follows:
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Repayable other than by instalments
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Page 4
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VEYRON DEVELOPMENTS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 DECEMBER 2014
6.
SHARE CAPITAL
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Allotted, called up and fully paid
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7.
DIRECTOR'S BENEFITS: ADVANCES, CREDIT AND GUARANTEES
At the balance sheet date the company was owed £
73,671
(2013 - £71,714) by the
director
,
Mr J J O'Neill
. Interest of £2,804 was charged on the loan amount at the official HMRC interest rate. The maximum outstanding liability due from the director during the year was £143,791.
8.
ULTIMATE PARENT UNDERTAKING AND CONTROLLING PARTY
The ultimate parent undertaking is MSC Global (BVI) Limited, a company incorporated in the British Virgin Islands. The ultimate controlling party is
Mr M Denim
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Page 5
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