V4G Workwear Ltd - Abbreviated accounts

Registered number

07486462

V4G Workwear Ltd

Abbreviated Accounts

31 March 2014

V4G Workwear Ltd
Registered number:		07486462
Abbreviated Balance Sheet
as at 31 March 2014

Notes			2014			2013
£				£
Fixed assets
Intangible assets	2		-			-
Tangible assets	3		11,237			450
Investments	4		-			-
			11,237			450

Current assets
Stocks		10,011			8,787
Debtors	5	5,785			5,351
Investments held as current assets		-			-
Cash at bank and in hand		1,398			4,584
		17,194			18,722

Creditors: amounts falling due within one year		(19,679)			(19,028)

Net current liabilities			(2,485)			(306)

Total assets less current liabilities			8,752			144

Creditors: amounts falling due after more than one year			(8,594)			-

Provisions for liabilities			-			-


Net assets			158			144

Capital and reserves
Called up share capital	7		100			100
Share premium			-			-
Revaluation reserve			-			-
Capital redemption reserve			-			-
Profit and loss account			58			44

Shareholders' funds			158			144

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.



Mr A M Crosbie
Director
Approved by the board on 1 May 2014

V4G Workwear Ltd
Notes to the Abbreviated Accounts
for the year ended 31 March 2014

1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

	Turnover
	Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.

	Depreciation
	Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

	Equipment and fixtures			15% reducing balance
	Motor vehicles			25% reducing balance

	Stocks
	Stock is valued at the lower of cost and net realisable value.

	Deferred taxation
	Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.

	Foreign currencies
	Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account.

	Leasing and hire purchase commitments
	Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Rentals paid under operating leases are charged to income on a straight line basis over the lease term.

	Pensions
	The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.


2	Intangible fixed assets					£

	Cost
	At 1 April 2013					-
	Additions					-
	Disposals					-
	At 31 March 2014					-

	Amortisation
	At 1 April 2013					-
	Provided during the year					-
	On disposals					-
	At 31 March 2014					-

	Net book value
	At 31 March 2014					-
	At 31 March 2013					-


3	Tangible fixed assets					£

	Cost
	At 1 April 2013					529
	Additions					14,241
	Surplus on revaluation					-
	Disposals					-
	At 31 March 2014					14,770

	Depreciation
	At 1 April 2013					79
	Charge for the year					3,454
	Surplus on revaluation					-
	On disposals					-
	At 31 March 2014					3,533

	Net book value
	At 31 March 2014					11,237
	At 31 March 2013					450


4	Investments					£

	Cost
	At 1 April 2013					-
	Additions					-
	Disposals					-

	At 31 March 2014					-

	The company holds 20% or more of the share capital of the following companies:

Capital and							Profit (loss)
	Company	Shares held				reserves	for the year
		Class		%	£		£
	[Company name 1]	Ordinary		-		-		-
	[Company name 2]	Ordinary		-		-		-
	[Company name 3]	Ordinary		-		-		-
	[Company name 4]	Ordinary		-		-		-

5	Debtors					2014		2013
£							£
	Debtors include:

	Amounts due after more than one year					-		-


6	Loans					2014		2013
£							£
	Creditors include:
	Amounts falling due for payment after more than five years					-		-
	Secured bank loans					-		-


7	Share capital	Nominal		2014		2014		2013
value			Number		£		£
	Allotted, called up and fully paid:
	Ordinary shares	£1 each		100		100		100
	B Ordinary shares	£1 each		-		-		-
						100		100
	? Preference shares	£1 each		-		-		-
						100		100

Nominal			Number		Amount
value			£
	Shares issued during the period:
	Ordinary shares	£1 each		-		-
	B Ordinary shares	£1 each		-		-
						-
	? Preference shares	£1 each		-		-
						-


8	Loans to directors
	Description and conditions	B/fwd	Paid		Repaid		C/fwd
£			£		£		£
	Mr A M Crosbie
	[Loan 1]	-		-		-		-
	[Loan 2]	-		-		-		-

	Mrs A Crosbie
	[Loan 1]	-		-		-		-
	[Loan 2]	-		-		-		-

	[Director 3]
	[Loan 1]	-		-		-		-
	[Loan 2]	-		-		-		-

	[Director 4]
	[Loan 1]	-		-		-		-
	[Loan 2]	-		-		-		-

	[Director 5]
	[Loan 1]	-		-		-		-
	[Loan 2]	-		-		-		-

	[Director 6]
	[Loan 1]	-		-		-		-
	[Loan 2]	-		-		-		-

	[Director 7]
	[Loan 1]	-		-		-		-
	[Loan 2]	-		-		-		-

	[Director 8]
	[Loan 1]	-		-		-		-
	[Loan 2]	-		-		-		-

	[Director 9]
	[Loan 1]	-		-		-		-
	[Loan 2]	-		-		-		-

		-		-		-		-


9	Guarantees made by the company on behalf of directors
	Description and terms			Maximum	Amount paid
liability					and incurred
£					£
	Mr A M Crosbie
	[Guarantee 1]			-		-
	[Guarantee 2]			-		-

	Mrs A Crosbie
	[Guarantee 1]			-		-
	[Guarantee 2]			-		-

	[Director 3]
	[Guarantee 1]			-		-
	[Guarantee 2]			-		-

	[Director 4]
	[Guarantee 1]			-		-
	[Guarantee 2]			-		-

	[Director 5]
	[Guarantee 1]			-		-
	[Guarantee 2]			-		-

	[Director 6]
	[Guarantee 1]			-		-
	[Guarantee 2]			-		-

	[Director 7]
	[Guarantee 1]			-		-
	[Guarantee 2]			-		-

	[Director 8]
	[Guarantee 1]			-		-
	[Guarantee 2]			-		-

	[Director 9]
	[Guarantee 1]			-		-
	[Guarantee 2]			-		-

				-		-