REGISTERED NUMBER: 00594688 (England and Wales)

VERO LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2015

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

1,533,221

1,516,260

CURRENT ASSETS

Debtors

31,329

173,735

Cash at bank and in hand

7,562

16,075

38,891

189,810

CREDITORS

Amounts falling due within one year

3

86,691

91,034

NET CURRENT (LIABILITIES)/ASSETS

(47,800

)

98,776

TOTAL ASSETS LESS CURRENT LIABILITIES

1,485,421

1,615,036

CREDITORS

Amounts falling due after more than one year

3

(438,342

)

(466,167

)

PROVISIONS FOR LIABILITIES

(12,270

)

(8,111

)

NET ASSETS

1,034,809

1,140,758

CAPITAL AND RESERVES

Called up share capital

4

1,500

1,500

Revaluation reserve

863,683

864,745

Capital redemption reserve

500

500

Profit and loss account

169,126

274,013

SHAREHOLDERS' FUNDS

1,034,809

1,140,758

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2015 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 2016 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

-

10% on reducing balance and 5% on cost

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 2014

1,640,442

Additions

41,742

Disposals

(6,447

)

At 31 August 2015

1,675,737

DEPRECIATION

At 1 September 2014

124,182

Charge for year

22,588

Eliminated on disposal

(4,254

)

At 31 August 2015

142,516

NET BOOK VALUE

At 31 August 2015

1,533,221

At 31 August 2014

1,516,260

3.

CREDITORS

Creditors include an amount of £ 463,835 (2014 - £ 488,948 ) for which security has been given.

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

2015

2014

£

£

Repayable by instalments

325,043

360,330

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

1,500

Ordinary A

£1

1,500

1,500

5.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 August 2015 and

31 August 2014:

2015

2014

£

£

Miss V C Verdon-Roe

Balance outstanding at start of year

128,180

33,757

Amounts advanced

69,603

160,377

Amounts repaid

(200,530

)

(65,954

)

Balance outstanding at end of year

(2,747

)

128,180

6.	RELATED PARTY DISCLOSURES

During the year, total dividends of £180,000 (2014 - £60,000) were paid to the director .

7.	ULTIMATE CONTROLLING PARTY

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