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REGISTERED NUMBER: 10553969 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

VMEC Limited

VMEC Limited (Registered number: 10553969)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


VMEC Limited

Company Information
for the Year Ended 31 March 2023







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 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 32,184 45,805

CURRENT ASSETS
Stocks 1,000 1,000
Debtors 5 423,632 288,246
Cash at bank 260,562 417,397
685,194 706,643
CREDITORS
Amounts falling due within one year 6 333,187 240,411
NET CURRENT ASSETS 352,007 466,232
TOTAL ASSETS LESS CURRENT
LIABILITIES

384,191

512,037

CREDITORS
Amounts falling due after more than one
year

7

(21,551

)

(31,340

)

PROVISIONS FOR LIABILITIES 8 (6,713 ) (9,825 )
NET ASSETS 355,927 470,872

CAPITAL AND RESERVES
Called up share capital 9 2 2
Retained earnings 10 355,925 470,870
SHAREHOLDERS' FUNDS 355,927 470,872

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

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

VMEC Limited (Registered number: 10553969)

Balance Sheet - continued
31 March 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 21 September 2023 and were signed by:





Mr S Vincent - Director


VMEC Limited (Registered number: 10553969)

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

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 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 3 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2022 1,245 50,433 5,100 56,778
Additions - - 499 499
At 31 March 2023 1,245 50,433 5,599 57,277
DEPRECIATION
At 1 April 2022 602 7,397 2,974 10,973
Charge for year 249 12,608 1,263 14,120
At 31 March 2023 851 20,005 4,237 25,093
NET BOOK VALUE
At 31 March 2023 394 30,428 1,362 32,184
At 31 March 2022 643 43,036 2,126 45,805

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 407,152 204,969
Prepayments and accrued income 16,480 83,277
423,632 288,246

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Loan creditor 10,950 11,160
Trade creditors 242,637 180,331
Amounts owed to group undertakings 93 -
Tax 55,273 31,571
Social security and other taxes 11,614 4,914
Directors' current accounts - 744
Accrued expenses 12,620 11,691
333,187 240,411

VMEC Limited (Registered number: 10553969)

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

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Loan creditor 21,551 31,340

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
2023 2022
£    £   
Deferred tax 6,713 9,825

Deferred
tax
£   
Balance at 1 April 2022 9,825
Credit to the income statement (3,112 )
during year
Balance at 31 March 2023 6,713

9. CALLED UP SHARE CAPITAL



Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1 Ordinary £1 1 1
1 A Ordinary £1 1 1
2 2

On 19 November 2022, 100% of the shareholding was transferred to VMEC Holdings Limited via a share for share exchange.

10. RESERVES
Retained
earnings
£   

At 1 April 2022 470,870
Profit for the year 226,555
Dividends (341,500 )
At 31 March 2023 355,925

VMEC Limited (Registered number: 10553969)

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

11. RELATED PARTY DISCLOSURES

The company is a wholly owned subsidiary of VMEC Holdings Limited.

At the year end, the company owed VMEC Holdings Limited £93 (2022: £Nil).

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr S Vincent.