Vero Limited - Limited company - abbreviated

REGISTERED NUMBER: 00594688 (England and Wales)

VERO LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2014

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

Miss V C Verdon-Roe

SECRETARY:

Miss V C Verdon-Roe

REGISTERED OFFICE:

Vero Limited

Greenaway Lane

Warsash

Southampton

Hampshire

SO31 9HT

REGISTERED NUMBER:

00594688 (England and Wales)

ACCOUNTANTS:

Morris Crocker

Chartered Accountants

Station House

North Street

Havant

Hampshire

PO9 1QU

BANKERS:

Royal Bank of Scotland

1-2 Westquay House

20 West Street

Fareham

Hampshire

PO16 0LH

FIXED ASSETS

Tangible assets

2

1,516,261

978,476

CURRENT ASSETS

Debtors

173,735

185,893

Cash at bank and in hand

16,075

8,366

189,810

194,259

CREDITORS

Amounts falling due within one year

3

91,035

43,173

NET CURRENT ASSETS

98,775

151,086

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,615,036

1,129,562

CREDITORS

Amounts falling due after more than one
year

3

(466,167

)

-

PROVISIONS FOR LIABILITIES

(8,111

)

(7,432

)

NET ASSETS

1,140,758

1,122,130

CAPITAL AND RESERVES

Called up share capital

4

1,500

Revaluation reserve

864,745

865,806

Capital redemption reserve

500

Profit and loss account

274,013

254,324

SHAREHOLDERS' FUNDS

1,140,758

1,122,130

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2014 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 13 January 2015 and were signed by:

Miss V C Verdon-Roe - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by the

revaluation of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities

(effective April 2008).

Turnover

Turnover represents amounts receivable for services, net of value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

5% on cost

Improvements to property

-

10% on reducing balance

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

20% on reducing balance

Computer equipment

-

33% on cost

Deferred tax

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

balance sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over

the period of the lease.

Leased assets

Assets sold to customers under hire purchase contracts are excluded from the fixed assets of the

company and reported in the balance sheet as debtors due within or after one year for the amount

expected to be received from those contracts. Receipts from hire purchase contracts contain a capital

element which reduces the debtor, and an interest charge which is credited to revenue so as to give a

constant return on funds invested in the contracts.

2.	TANGIBLE FIXED ASSETS

Total

£

COST OR VALUATION

At 1 September 2013

1,084,379

Additions

556,064

At 31 August 2014

1,640,443

DEPRECIATION

At 1 September 2013

105,903

Charge for year

18,279

At 31 August 2014

124,182

NET BOOK VALUE

At 31 August 2014

1,516,261

At 31 August 2013

978,476

3.

CREDITORS

Creditors include an amount of £ 488,948 for which security has been given.

They also include the following debts falling due in more than five years:

2014

2013

£

Repayable by instalments

360,330

-

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

1,500

Ordinary A

£1

1,500

5.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 August 2014 and

31 August 2013:

2014

2013

£

Miss V C Verdon-Roe

Balance outstanding at start of year

33,757

27,328

Amounts advanced

160,377

37,512

Amounts repaid

(65,954

)

(31,083

)

Balance outstanding at end of year

128,180

33,757

6.	RELATED PARTY DISCLOSURES

During the year, total dividends of £60,000 (2013 - £30,000) were paid to the director .

Included within debtors is a loan of £Nil (2013: £107,436) due from Mrs B L Verdon-Roe deceased.

7.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Miss V C Verdon-Roe.