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REGISTERED NUMBER: 13382105 (England and Wales)









Unaudited Financial Statements

for the Year Ended 31 May 2023

for

Volks-Tek Ltd

Volks-Tek Ltd (Registered number: 13382105)






Contents of the Financial Statements
for the Year Ended 31 May 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Volks-Tek Ltd

Company Information
for the Year Ended 31 May 2023







DIRECTOR: P M Roberts





REGISTERED OFFICE: Unit 16 Hunter Park
17 Callywhite Lane
Dronfield
S18 2XR





REGISTERED NUMBER: 13382105 (England and Wales)





ACCOUNTANTS: Camplejohn Rowan
CFC House
Acorn Business Park
Woodseats Close
Sheffield
South Yorkshire
S8 0TB

Volks-Tek Ltd (Registered number: 13382105)

Balance Sheet
31 May 2023

31.5.23 31.5.22
Notes £    £   
FIXED ASSETS
Intangible assets 4 40,000 45,000
Tangible assets 5 18,820 18,010
58,820 63,010

CURRENT ASSETS
Debtors 6 3,785 2,604
Cash at bank and in hand 15,657 9,809
19,442 12,413
CREDITORS
Amounts falling due within one year 7 (75,579 ) (73,566 )
NET CURRENT LIABILITIES (56,137 ) (61,153 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,683

1,857

PROVISIONS FOR LIABILITIES (2,634 ) (1,335 )
NET ASSETS 49 522

CAPITAL AND RESERVES
Called up share capital 8 10 10
Retained earnings 9 39 512
SHAREHOLDERS' FUNDS 49 522

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 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.

Volks-Tek Ltd (Registered number: 13382105)

Balance Sheet - continued
31 May 2023


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 9 October 2023 and were signed by:





P M Roberts - Director


Volks-Tek Ltd (Registered number: 13382105)

Notes to the Financial Statements
for the Year Ended 31 May 2023

1. STATUTORY INFORMATION

Volks-Tek Ltd 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 represents the sale of services. It is recognised when the services are provided.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2021, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

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.

Volks-Tek Ltd (Registered number: 13382105)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

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 (2022 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2022
and 31 May 2023 50,000
AMORTISATION
At 1 June 2022 5,000
Charge for year 5,000
At 31 May 2023 10,000
NET BOOK VALUE
At 31 May 2023 40,000
At 31 May 2022 45,000

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 June 2022 2,207 18,862 752
Additions - 5,533 -
At 31 May 2023 2,207 24,395 752
DEPRECIATION
At 1 June 2022 - 4,716 188
Charge for year - 4,919 141
At 31 May 2023 - 9,635 329
NET BOOK VALUE
At 31 May 2023 2,207 14,760 423
At 31 May 2022 2,207 14,146 564

Volks-Tek Ltd (Registered number: 13382105)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

5. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 June 2022 1,000 457 23,278
Additions - 815 6,348
At 31 May 2023 1,000 1,272 29,626
DEPRECIATION
At 1 June 2022 250 114 5,268
Charge for year 188 290 5,538
At 31 May 2023 438 404 10,806
NET BOOK VALUE
At 31 May 2023 562 868 18,820
At 31 May 2022 750 343 18,010

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade debtors 2,785 1,604
Other debtors 1,000 1,000
3,785 2,604

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade creditors 28,135 12,734
Social security and other taxes 801 319
VAT 3,662 2,982
Directors' current accounts 42,981 57,531
75,579 73,566

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.23 31.5.22
value: £    £   
10 Ordinary shares £1 10 10

Volks-Tek Ltd (Registered number: 13382105)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

9. RESERVES
Retained
earnings
£   

At 1 June 2022 512
Profit for the year 227
Dividends (700 )
At 31 May 2023 39