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Company Registration No. 07389226 (England and Wales)
Vectis Trading Limited Unaudited accounts for the year ended 31 March 2023
Vectis Trading Limited Unaudited accounts Contents
Page
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Vectis Trading Limited Company Information for the year ended 31 March 2023
Directors
Sandra Knowles Patrick Knowles
Company Number
07389226 (England and Wales)
Registered Office
55 Manners View Newport Isle of Wight PO30 5FA
Accountants
Vision Accounting Fortis House Cothey Way Ryde Isle of Wight PO33 1QT
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Vectis Trading Limited Statement of financial position as at 31 March 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
23,422 
23,257 
Current assets
Inventories
1,607 
500 
Debtors
12,510 
13,803 
Cash at bank and in hand
50,027 
101,733 
64,144 
116,036 
Creditors: amounts falling due within one year
(49,587)
(81,230)
Net current assets
14,557 
34,806 
Total assets less current liabilities
37,979 
58,063 
Creditors: amounts falling due after more than one year
(31,667)
(41,585)
Provisions for liabilities
Other provisions
(4,450)
(4,419)
Net assets
1,862 
12,059 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
1,762 
11,959 
Shareholders' funds
1,862 
12,059 
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 6 October 2023 and were signed on its behalf by
Sandra Knowles Director Company Registration No. 07389226
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Vectis Trading Limited Notes to the Accounts for the year ended 31 March 2023
1
Statutory information
Vectis Trading Limited is a private company, limited by shares, registered in England and Wales, registration number 07389226. The registered office is 55 Manners View, Newport, Isle of Wight, PO30 5FA.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% Straight Line
Fixtures & fittings
20% Straight Line
4
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 April 2022
122,650 
Additions
6,219 
At 31 March 2023
128,869 
Depreciation
At 1 April 2022
99,393 
Charge for the year
6,054 
At 31 March 2023
105,447 
Net book value
At 31 March 2023
23,422 
At 31 March 2022
23,257 
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Vectis Trading Limited Notes to the Accounts for the year ended 31 March 2023
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
- 
750 
Accrued income and prepayments
12,410 
12,953 
Other debtors
100 
100 
12,510 
13,803 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
5,649 
1,338 
Trade creditors
14,629 
18,861 
Taxes and social security
308 
9,248 
Loans from directors
27,712 
50,494 
Accruals
1,289 
1,289 
49,587 
81,230 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
31,667 
41,585 
8
Operating lease commitments
2023 
2022 
£ 
£ 
At 31 March 2023 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
35,000 
- 
Later than one year and not later than five years
- 
77,000 
35,000 
77,000 
9
Average number of employees
During the year the average number of employees was 13 (2022: 11).
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