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REGISTERED NUMBER: 03481422 (England and Wales)













FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

FOR

VETRO TOOLING LIMITED

VETRO TOOLING LIMITED (REGISTERED NUMBER: 03481422)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


VETRO TOOLING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2022







DIRECTORS: D J C Lithauer
Ms H L Lithauer
D J Brewer
A J Lithauer





REGISTERED OFFICE: Unit 10 Westmayne Industrial Park
Bramston Way
Laindon
Basildon
Essex
SS15 6TP





REGISTERED NUMBER: 03481422 (England and Wales)





ACCOUNTANTS: Connah Goldsworthy
Chartered Certified Accountants
12 Station Court
Station Approach
Wickford
Essex
SS11 7AT

VETRO TOOLING LIMITED (REGISTERED NUMBER: 03481422)

BALANCE SHEET
31 DECEMBER 2022

31.12.22 31.12.21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 208,579 243,420

CURRENT ASSETS
Stocks 403,263 523,427
Debtors 5 241,862 257,983
Cash at bank and in hand 188,527 130,327
833,652 911,737
CREDITORS
Amounts falling due within one year 6 469,691 631,885
NET CURRENT ASSETS 363,961 279,852
TOTAL ASSETS LESS CURRENT
LIABILITIES

572,540

523,272

CREDITORS
Amounts falling due after more than one
year

7

114,762

133,072
NET ASSETS 457,778 390,200

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 457,678 390,100
SHAREHOLDERS' FUNDS 457,778 390,200

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

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

The directors acknowledge their 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.

VETRO TOOLING LIMITED (REGISTERED NUMBER: 03481422)

BALANCE SHEET - continued
31 DECEMBER 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 Board of Directors and authorised for issue on 21 March 2023 and were signed on its behalf by:





D J C Lithauer - Director


VETRO TOOLING LIMITED (REGISTERED NUMBER: 03481422)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

1. STATUTORY INFORMATION

Vetro Tooling 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.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

VETRO TOOLING LIMITED (REGISTERED NUMBER: 03481422)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 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 10 (2021 - 11 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2022 251,631 41,028 191,535 16,682 500,876
Additions - - 90,500 - 90,500
Disposals - - (125,145 ) - (125,145 )
At 31 December 2022 251,631 41,028 156,890 16,682 466,231
DEPRECIATION
At 1 January 2022 144,234 11,865 88,131 13,226 257,456
Charge for year 18,000 4,363 33,386 1,200 56,949
Eliminated on disposal - - (56,753 ) - (56,753 )
At 31 December 2022 162,234 16,228 64,764 14,426 257,652
NET BOOK VALUE
At 31 December 2022 89,397 24,800 92,126 2,256 208,579
At 31 December 2021 107,397 29,163 103,404 3,456 243,420

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 January 2022 38,500 32,332 189,491 260,323
Disposals - - (43,787 ) (43,787 )
At 31 December 2022 38,500 32,332 145,704 216,536
DEPRECIATION
At 1 January 2022 13,904 9,045 93,655 116,604
Charge for year 11,820 3,596 41,286 56,702
Eliminated on disposal - - (16,348 ) (16,348 )
At 31 December 2022 25,724 12,641 118,593 156,958
NET BOOK VALUE
At 31 December 2022 12,776 19,691 27,111 59,578
At 31 December 2021 24,596 23,287 95,836 143,719

VETRO TOOLING LIMITED (REGISTERED NUMBER: 03481422)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Trade debtors 234,246 231,783
Amounts owed by participating interests - 18,409
Other debtors 7,616 7,791
241,862 257,983

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Bank loans and overdrafts 10,860 10,968
Hire purchase contracts (see note 8) 51,964 55,716
Trade creditors 255,832 418,888
Amounts owed to participating interests 4,497 -
Taxation and social security 127,531 103,806
Other creditors 19,007 42,507
469,691 631,885

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.22 31.12.21
£    £   
Bank loans 23,307 33,199
Hire purchase contracts (see note 8) 91,455 99,873
114,762 133,072

8. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

31.12.22 31.12.21
£    £   
Gross obligations repayable:
Within one year 58,756 60,270
Between one and five years 102,771 112,958
161,527 173,228

Finance charges repayable:
Within one year 6,792 4,554
Between one and five years 11,316 13,085
18,108 17,639

Net obligations repayable:
Within one year 51,964 55,716
Between one and five years 91,455 99,873
143,419 155,589

VETRO TOOLING LIMITED (REGISTERED NUMBER: 03481422)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022

9. ULTIMATE CONTROLLING PARTY

The controlling party is D J C Lithauer.

The ultimate controlling party is D J C Lithauer.