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REGISTERED NUMBER: 06114624 (England and Wales)











Unaudited Financial Statements

for the Year Ended 31 March 2017

for

VIP Grinders Limited

VIP Grinders Limited (Registered number: 06114624)






Contents of the Financial Statements
for the Year Ended 31 March 2017




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


VIP Grinders Limited

Company Information
for the Year Ended 31 March 2017







DIRECTORS: M Hicks
P J Donovan





SECRETARY: M Hicks





REGISTERED OFFICE: Overdene House
49 Church Street,
Theale,
Reading
Berkshire
RG75BX





REGISTERED NUMBER: 06114624 (England and Wales)





ACCOUNTANTS: Kirkpatrick & Hopes Ltd
Overdene House
49 Church Street
Theale
Reading
Berkshire
RG7 5BX

VIP Grinders Limited (Registered number: 06114624)

Balance Sheet
31 March 2017

31.3.17 31.3.16
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 27,096 32,359
27,096 32,359

CURRENT ASSETS
Debtors 7 96,345 71,673
Cash at bank and in hand 43,034 117,765
139,379 189,438
CREDITORS
Amounts falling due within one year 8 94,936 79,949
NET CURRENT ASSETS 44,443 109,489
TOTAL ASSETS LESS CURRENT
LIABILITIES

71,539

141,848

CREDITORS
Amounts falling due after more than one
year

9

(3,883

)

(8,800

)

PROVISIONS FOR LIABILITIES (4,473 ) (5,605 )
NET ASSETS 63,183 127,443

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 63,083 127,343
SHAREHOLDERS' FUNDS 63,183 127,443

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 in accordance with Section 476 of the Companies Act 2006.

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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 8 December 2017 and were signed on its behalf
by:




P J Donovan - Director


VIP Grinders Limited (Registered number: 06114624)

Notes to the Financial Statements
for the Year Ended 31 March 2017

1. STATUTORY INFORMATION

VIP Grinders Limited is a private company, limited by shares , registered in England and Wales. The company's
registered number and registered office address can be found on the Company Information page.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements are the first financial statements that comply with FRS 102 Section 1A small entities.
The date of transition is 1 April 2015 and the comparative prior year has been restated.

The presentation currency is sterling (£).

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax, and is recognised at
the time of invoicing.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost
less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 15% on cost
Computer equipment - 25% on reducing balance

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets
have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of
any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is
lower, the carrying amount is reduced to its estimated recoverable amount and an impairment loss is recognised
immediately in profit or loss.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised
estimate of its recoverable amount, but not in excess of the amount that would have been determined had no
impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised
immediately in profit or loss.

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.

Current or deferred taxation assets and liabilities are not discounted.

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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the
balance sheet date.

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.

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.

VIP Grinders Limited (Registered number: 06114624)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2017

3. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those
held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance
leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element
of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension
scheme are charged to profit or loss in the period to which they relate.

Debtors
Short term debtors are measured at transaction price less any impairment. Loans receivable are measured at
initially at fair value, net of transaction costs, and are measured subsequently at amortised costs using the
effective interest method.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans are
measured initially at fair value, net of transaction costs, and are subsequently measured at amortised costs
using the effective interest method.

Going concern justification
The accounts are prepared on a going concern basis, the use of the going concern basis of accounting is
appropriate because there are no material uncertainties related to events or conditions that may cast significant
doubt about the ability of the company to continue as a going concern.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2016
and 31 March 2017 110,000
AMORTISATION
At 1 April 2016
and 31 March 2017 110,000
NET BOOK VALUE
At 31 March 2017 -
At 31 March 2016 -

VIP Grinders Limited (Registered number: 06114624)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2017

6. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 April 2016 98,644 11,022 6,823 116,489
Additions 1,600 - 2,079 3,679
At 31 March 2017 100,244 11,022 8,902 120,168
DEPRECIATION
At 1 April 2016 71,107 8,324 4,699 84,130
Charge for year 7,283 608 1,051 8,942
At 31 March 2017 78,390 8,932 5,750 93,072
NET BOOK VALUE
At 31 March 2017 21,854 2,090 3,152 27,096
At 31 March 2016 27,537 2,698 2,124 32,359


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.17 31.3.16
£    £   
Trade debtors 96,345 67,574
Directors' loan accounts - 391
Prepayments and accrued income - 3,708
96,345 71,673

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.17 31.3.16
£    £   
Hire purchase contracts (see note 10) 4,910 4,590
Trade creditors 557 1,820
Tax 47,494 40,085
Social security and other taxes 40,189 33,341
Other creditors 107 -
Directors' loan accounts 937 113
Accruals and deferred income 742 -
94,936 79,949

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.17 31.3.16
£    £   
Hire purchase contracts (see note 10) 3,883 8,800

VIP Grinders Limited (Registered number: 06114624)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2017

10. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.3.17 31.3.16
£    £   
Gross obligations repayable:
Within one year 5,349 5,349
Between one and five years 4,012 9,361
9,361 14,710

Finance charges repayable:
Within one year 439 759
Between one and five years 129 561
568 1,320

Net obligations repayable:
Within one year 4,910 4,590
Between one and five years 3,883 8,800
8,793 13,390

Non-cancellable operating
leases
31.3.17 31.3.16
£    £   
Within one year 11,940 11,940
Between one and five years 47,760 -
In more than five years 23,880 -
83,580 11,940

11. SECURED DEBTS

The following secured debts are included within creditors:

31.3.17 31.3.16
£    £   
Hire purchase contracts 8,793 13,390

The hire purchase liability is secured by the asset held under hire purchase.

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2017 and
31 March 2016:

31.3.17 31.3.16
£    £   
M Hicks
Balance outstanding at start of year (392 ) 215
Amounts advanced 608 208
Amounts repaid - (815 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 216 (392 )

VIP Grinders Limited (Registered number: 06114624)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2017

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

At the balance sheet date there was a credit balance on P J Donovan's directors loan account of £721 (2016 :
£113 credit).

The above loans are interest free and with no fixed date for repayment.

The company paid dividends to the directors as follows:

M Hicks £124,800 (2016 - £125,800)

P J Donovan £124,800 (2016 - £125,800)

13. FIRST YEAR ADOPTION

This is the first year the financial statements have been prepared under FRS 102. There were no restatements
of prior year comparatives as a result of the transition to FRS 102.