Vertical Holdings Limited 11229740 false 2018-02-28 2018-07-31 2018-07-31 The principal activity of the company is that of a holding company. Digita Accounts Production Advanced 6.21.8540.0 Software true false true 11229740 2018-02-28 2018-07-31 11229740 2018-07-31 11229740 core:RetainedEarningsAccumulatedLosses 2018-07-31 11229740 core:ShareCapital 2018-07-31 11229740 core:CurrentFinancialInstruments 2018-07-31 11229740 core:CurrentFinancialInstruments core:WithinOneYear 2018-07-31 11229740 core:AdditionsToInvestments 2018-07-31 11229740 bus:SmallEntities 2018-02-28 2018-07-31 11229740 bus:AuditExemptWithAccountantsReport 2018-02-28 2018-07-31 11229740 bus:FullAccounts 2018-02-28 2018-07-31 11229740 bus:RegisteredOffice 2018-02-28 2018-07-31 11229740 bus:Director1 2018-02-28 2018-07-31 11229740 bus:Director2 2018-02-28 2018-07-31 11229740 bus:PrivateLimitedCompanyLtd 2018-02-28 2018-07-31 11229740 core:Subsidiary1 2018-02-28 2018-07-31 11229740 core:Subsidiary1 countries:AllCountries 2018-02-28 2018-07-31 11229740 countries:AllCountries 2018-02-28 2018-07-31 iso4217:GBP xbrli:pure

Registration number: 11229740

Vertical Holdings Limited

Annual Report and Unaudited Financial Statements

for the Period from 28 February 2018 to 31 July 2018

 

Vertical Holdings Limited

Contents

Balance Sheet

1

Notes to the Financial Statements

2 to 4

 

Vertical Holdings Limited

(Registration number: 11229740)
Balance Sheet as at 31 July 2018

Note

2018
£

Fixed assets

 

Investments

4

100

Current assets

 

Debtors

5

19,908

Cash at bank and in hand

 

317,928

 

337,836

Creditors: Amounts falling due within one year

6

(14,300)

Net current assets

 

323,536

Net assets

 

323,636

Capital and reserves

 

Called up share capital

100

Profit and loss account

323,536

Total equity

 

323,636

For the financial period ending 31 July 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 10 November 2018 and signed on its behalf by:
 

Mr Christopher Francis

Director

Mrs Vicky Susan Francis

Director

 

Vertical Holdings Limited

Notes to the Financial Statements for the Period from 28 February 2018 to 31 July 2018

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Fairfield
Roman Bank
Holbeach Bank
Spalding
Lincolnshire
PE12 8BX

These financial statements were authorised for issue by the Board on 10 November 2018.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. These are the first financial statements that comply with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Vertical Holdings Limited

Notes to the Financial Statements for the Period from 28 February 2018 to 31 July 2018

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 0.

4

Investments

2018
£

Investments in subsidiaries

100

Subsidiaries

£

Cost or valuation

Additions

100

Provision

Carrying amount

At 31 July 2018

100

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2018

Subsidiary undertakings

Potato Storage Treatments Limited

Ordinary

100%

 

England & Wales

     
 

Vertical Holdings Limited

Notes to the Financial Statements for the Period from 28 February 2018 to 31 July 2018

5

Debtors

2018
£

Prepayments

19,908

19,908

6

Creditors

Creditors: amounts falling due within one year

2018
£

Due within one year

Accruals and deferred income

480

Other creditors

13,820

14,300

7

Transition to FRS 102

This is the first year that accounts have been prepared in accordance with FRS 102 Section 1A. The date of transition was 28 February 2018. The company did not present financial statements for previous periods.