REGISTERED NUMBER:
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Abbreviated Unaudited Accounts |
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for the Year Ended 31 December 2014 |
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for |
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V7 Limited |
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Previously known as |
4finance Limited |
REGISTERED NUMBER:
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Abbreviated Unaudited Accounts |
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for the Year Ended 31 December 2014 |
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for |
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V7 Limited |
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Previously known as |
4finance Limited |
V7 Limited (Registered number: 07951027) |
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Contents of the Abbreviated Accounts |
for the Year Ended 31 December 2014 |
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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 |
V7 Limited |
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Company Information |
for the Year Ended 31 December 2014 |
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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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Chartered Accountants and Business Advisers |
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V7 Limited (Registered number: 07951027) |
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Abbreviated Balance Sheet |
31 December 2014 |
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2014 | 2013 |
as restated |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 2 |
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Tangible assets | 3 |
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CURRENT ASSETS |
Debtors |
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Cash at bank and in hand |
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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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NET ASSETS/(LIABILITIES) |
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( |
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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. |
V7 Limited (Registered number: 07951027) |
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Abbreviated Balance Sheet - continued |
31 December 2014 |
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The financial statements were approved by the Board of Directors on
by: |
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V7 Limited (Registered number: 07951027) |
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Notes to the Abbreviated Accounts |
for the Year Ended 31 December 2014 |
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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 |
The turnover shown in the profit and loss account represents revenue earned during the period, exclusive of |
VAT. |
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Intangible fixed assets |
Intangible fixed assets are amortised at rates calculated to write off the assets on a straight line basis over their |
estimated useful economic lives. |
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Concessions, patents, licences, trademarks and similar rights - 20% on cost |
Software and other intangible assets - 33% on cost |
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Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful |
life. |
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Leasehold improvements - based on residual time of long term lease agreement |
Fixtures and fittings - 20% on cost |
Computer equipment - 33% and 50% on cost |
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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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Foreign currencies |
Foreign currency transactions are recorded in local currency sterling at the exchange rate at the date of |
transaction. Foreign exchange gains and losses resulting from the settlement of such transactions, and from |
retranslated at month end exchange rate of monetary assets and liabilities denominated in foreign currencies, are |
recognised in the profit and loss account. |
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2. | INTANGIBLE FIXED ASSETS |
Total |
£ |
COST |
At 1 January 2014 |
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Disposals | ( |
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At 31 December 2014 |
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AMORTISATION |
At 1 January 2014 |
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Amortisation for year |
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Eliminated on disposal | ( |
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At 31 December 2014 |
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NET BOOK VALUE |
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At 31 December 2014 |
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At 31 December 2013 |
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V7 Limited (Registered number: 07951027) |
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Notes to the Abbreviated Accounts - continued |
for the Year Ended 31 December 2014 |
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3. | TANGIBLE FIXED ASSETS |
Total |
£ |
COST |
At 1 January 2014 |
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Additions |
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Disposals | ( |
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At 31 December 2014 |
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DEPRECIATION |
At 1 January 2014 |
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Charge for year |
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Eliminated on disposal | ( |
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At 31 December 2014 |
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NET BOOK VALUE |
At 31 December 2014 |
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At 31 December 2013 |
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4. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2014 | 2013 |
value: | as restated |
£ | £ |
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Ordinary | £1 |
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5. | PARENT COMPANY AND ULTIMATE CONTROLLING PARTY |
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At the balance sheet date, the immediate parent company of 4finance Limited was AS 4finance, a company |
incorporated in Latvia, which at that time held 100% of the share capital of 4finance Limited. |
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The parent company of AS 4finance was 4finance Holding S.a.r.l., a company incorporated in Luxembourg, |
which held 100% of the share capital of AS 4finance. |
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The ultimate parent company of 4finance Limited was Tirona Limited, a company incorporated in Cyprus who |
owned the majority of the issued share capital in 4finance Holding S.a.r.l. In the opinion of the directors there |
was no ultimate controlling party of Tirona Limited. |
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The results of 4finance Limited are included in the consolidated financial statements of AS 4finance. |