Company Registration No. 06349309 (England and Wales)
VORTEX EXHAUST TECHNOLOGY LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2014
VORTEX EXHAUST TECHNOLOGY LIMITED
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
VORTEX EXHAUST TECHNOLOGY LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 DECEMBER 2014
31 December 2014
- 1 -
2014
2013
Notes
£
£
£
£
Fixed assets
Intangible assets
2
11,547
24,249
Tangible assets
2
430,921
330,943
442,468
355,192
Current assets
Stocks
153,485
83,754
Debtors
409,526
380,071
Cash at bank and in hand
3,409
74,859
566,420
538,684
Creditors: amounts falling due within one year
3
(642,658)
(616,734)
Net current liabilities
(76,238)
(78,050)
Total assets less current liabilities
366,230
277,142
Creditors: amounts falling due after more than one year
4
(222,000)
-
144,230
277,142
Capital and reserves
Called up share capital
5
1
1
Profit and loss account
144,229
277,141
Shareholder's funds
144,230
277,142
VORTEX EXHAUST TECHNOLOGY LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2014
31 December 2014
- 2 -
For the financial period ended 31 December 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The member has not required the company to obtain an audit of its financial statements for the period 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 abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 29 December 2016
Mr B C Mead
Director
Company Registration No. 06349309
VORTEX EXHAUST TECHNOLOGY LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE PERIOD ENDED 31 DECEMBER 2014
- 3 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets other than freehold land are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Plant and machinery
20% straight line
Fixtures, fittings & equipment
20% straight line
Motor vehicles
20% straight line
Freehold buildings are depreciated to write down the cost less estimated residual value over their
remaining useful life by equal annual installments. Where buildings are maintained to such a standard that
their residual value is not less than their cost or valuation, no depreciation is charged as it is not
significant. Permanent diminutions in the value of freehold buildings are charged to the profit and loss
account.
1.5
Stock
Stock is valued at the lower of cost and net realisable value.
VORTEX EXHAUST TECHNOLOGY LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2014
- 4 -
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 September 2013
63,510
351,721
415,231
Additions
-
128,332
128,332
At 31 December 2014
63,510
480,053
543,563
Depreciation
At 1 September 2013
39,261
20,778
60,039
Charge for the period
12,702
28,354
41,056
At 31 December 2014
51,963
49,132
101,095
Net book value
At 31 December 2014
11,547
430,921
442,468
At 31 August 2013
24,249
330,943
355,192
3
Creditors: amounts falling due within one year
The aggregate amount of creditors for which security has been given amounted to £68,215 (2013 - £0).
4
Creditors: amounts falling due after more than one year
The aggregate amount of creditors for which security has been given amounted to £222,000 (2013 - £0).
5
Share capital
2014
2013
£
£
Allotted, called up and fully paid
1 ordinary of £1 each
1
1