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REGISTERED NUMBER: 10553969 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2022

for

VMEC Limited

VMEC Limited (Registered number: 10553969)






Contents of the Financial Statements
for the Year Ended 31 March 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


VMEC Limited

Company Information
for the Year Ended 31 March 2022







DIRECTOR: Mr S Vincent





SECRETARY: Mrs LJ Vincent





REGISTERED OFFICE: 15 Langcliffe Avenue
Harrogate
HG2 8JQ





REGISTERED NUMBER: 10553969 (England and Wales)





ACCOUNTANTS: Charles Stewart & Co Limited
Chartered Accountants
3 Park Square
Leeds
LS1 2NE

VMEC Limited (Registered number: 10553969)

Balance Sheet
31 March 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 45,805 23,895

CURRENT ASSETS
Stocks 1,000 1,000
Debtors 5 288,246 218,030
Cash at bank 417,397 540,609
706,643 759,639
CREDITORS
Amounts falling due within one year 6 240,411 298,673
NET CURRENT ASSETS 466,232 460,966
TOTAL ASSETS LESS CURRENT
LIABILITIES

512,037

484,861

CREDITORS
Amounts falling due after more than one
year

7

(31,340

)

(41,606

)

PROVISIONS FOR LIABILITIES 8 (9,825 ) (4,540 )
NET ASSETS 470,872 438,715

CAPITAL AND RESERVES
Called up share capital 9 2 2
Retained earnings 10 470,870 438,713
SHAREHOLDERS' FUNDS 470,872 438,715

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

VMEC Limited (Registered number: 10553969)

Balance Sheet - continued
31 March 2022


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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

The financial statements were approved by the director and authorised for issue on 5 September 2022 and were signed by:





Mr S Vincent - Director


VMEC Limited (Registered number: 10553969)

Notes to the Financial Statements
for the Year Ended 31 March 2022

1. STATUTORY INFORMATION

VMEC 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

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

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost
Motor vehicles - 25% on cost
Computer equipment - 33% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

VMEC Limited (Registered number: 10553969)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2021 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2021 1,245 24,700 4,446 30,391
Additions - 50,433 654 51,087
Disposals - (24,700 ) - (24,700 )
At 31 March 2022 1,245 50,433 5,100 56,778
DEPRECIATION
At 1 April 2021 353 4,631 1,512 6,496
Charge for year 249 10,485 1,462 12,196
Eliminated on disposal - (7,719 ) - (7,719 )
At 31 March 2022 602 7,397 2,974 10,973
NET BOOK VALUE
At 31 March 2022 643 43,036 2,126 45,805
At 31 March 2021 892 20,069 2,934 23,895

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 204,969 101,293
Prepayments and accrued income 83,277 116,737
288,246 218,030

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Loan creditor 11,160 8,394
Trade creditors 180,331 231,977
Tax 31,571 36,865
Social security and other taxes 4,914 1,197
Directors' current accounts 744 9,588
Accrued expenses 11,691 10,652
240,411 298,673

VMEC Limited (Registered number: 10553969)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2022 2021
£    £   
Loan creditor 31,340 41,606

The loan creditor represents a loan under HM Government Coronavirus Business Bounce Back Loan Scheme. The loan carries an interest rate of 2.5% per annum and is repayable in accordance with the rules of the scheme.

8. PROVISIONS FOR LIABILITIES
2022 2021
£    £   
Deferred tax 9,825 4,540

Deferred
tax
£   
Balance at 1 April 2021 4,540
Charge to the income statement 5,285
during year
Balance at 31 March 2022 9,825

9. CALLED UP SHARE CAPITAL



Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
1 Ordinary £1 1 1
1 A Ordinary £1 1 1
2 2

10. RESERVES
Retained
earnings
£   

At 1 April 2021 438,713
Profit for the year 150,157
Dividends (118,000 )
At 31 March 2022 470,870

11. RELATED PARTY DISCLOSURES

During the year, total dividends of £84,000 (2021 - £83,000) were paid to the director .

12. ULTIMATE CONTROLLING PARTY

The controlling party is Mr S Vincent.