REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 November 2022 |
for |
V-TECH UK LTD |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 November 2022 |
for |
V-TECH UK LTD |
V-TECH UK LTD (Registered number: 04581693) |
Contents of the Financial Statements |
for the Year Ended 30 November 2022 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
V-TECH UK LTD |
Company Information |
for the Year Ended 30 November 2022 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
2nd Floor, |
39 Ludgate hill |
London |
EC4M 7JN |
V-TECH UK LTD (Registered number: 04581693) |
Balance Sheet |
30 November 2022 |
30.11.22 | 30.11.21 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 10 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
V-TECH UK LTD (Registered number: 04581693) |
Balance Sheet - continued |
30 November 2022 |
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. |
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 |
V-TECH UK LTD (Registered number: 04581693) |
Notes to the Financial Statements |
for the Year Ended 30 November 2022 |
1. | STATUTORY INFORMATION |
V-TECH UK LTD is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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 |
Plant and machinery etc | - |
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. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
V-TECH UK LTD (Registered number: 04581693) |
Notes to the Financial Statements - continued |
for the Year Ended 30 November 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. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
£ |
COST |
At 1 December 2021 |
and 30 November 2022 |
AMORTISATION |
At 1 December 2021 |
Charge for year |
At 30 November 2022 |
NET BOOK VALUE |
At 30 November 2022 |
At 30 November 2021 |
5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 December 2021 |
and 30 November 2022 |
DEPRECIATION |
At 1 December 2021 |
Charge for year |
At 30 November 2022 |
NET BOOK VALUE |
At 30 November 2022 |
At 30 November 2021 |
V-TECH UK LTD (Registered number: 04581693) |
Notes to the Financial Statements - continued |
for the Year Ended 30 November 2022 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.11.22 | 30.11.21 |
£ | £ |
Trade debtors |
Amounts owed by participating interests | 309,490 | 410,572 |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.11.22 | 30.11.21 |
£ | £ |
Bank loans and overdrafts (see note 9) |
Trade creditors |
Amounts owed to participating interests | 139,894 | - |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.11.22 | 30.11.21 |
£ | £ |
Bank loans (see note 9) |
Other creditors |
9. | LOANS |
An analysis of the maturity of loans is given below: |
30.11.22 | 30.11.21 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank overdrafts |
Bank loans |
Other loans |
Amounts falling due between one and two years: |
Bank loans - 1-2 years |
Other loans - 1-2 years | 133,275 |
Amounts falling due between two and five years: |
Bank loans - 2-5 years |
Other loans - 2-5 years |
V-TECH UK LTD (Registered number: 04581693) |
Notes to the Financial Statements - continued |
for the Year Ended 30 November 2022 |
10. | PROVISIONS FOR LIABILITIES |
30.11.22 | 30.11.21 |
£ | £ |
Deferred tax |
Accelerated capital allowances |
Deferred |
tax |
£ |
Balance at 1 December 2021 |
Utilised during year | ( |
) |
Balance at 30 November 2022 |
11. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the years ended 30 November 2022 and 30 November 2021: |
30.11.22 | 30.11.21 |
£ | £ |
Balance outstanding at start of year | ( |
) |
Amounts advanced |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
) | ( |
) |
At the balance sheet date, the company owed £201 to the director. This is an interest free loan provided to the company by the director Mr Viresh Chandarana. |
Mr Shashi Chandrana resigned on 30/11/2021 and is no longer a director of the company. |
12. | RELATED PARTY DISCLOSURES |
At the balance sheet date, the company was owed £186,609 (2021 : £186,609) by an associated company SN Autospares & company & Company ltd, where Mr. Shashi Chandarana is a shareholder and director. |
At the balance sheet date, the company owed £9,815 (2021 : £31,610 dr) to it's associated company Carbon clean ltd, where Mr. Viresh Chandarana is a shareholder and director. |
At the balance sheet date, the company was owed £ nil (2021 : £90,243) by an associated company V-tech GE ltd, where Mr. Viresh Chandarana is a shareholder and director. |
At the balance sheet date, the company owed £130,079 (2021 : £nil) to it's associated company, Gemcal Service ltd where Mr. Viresh Chandarana is a shareholder and director. |
At the balance sheet date, the company was owed £9,000 (2021 : £9,000) by an associated company , Autotweaks ltd where Mrs.Puja Chandarana (Director-Viresh Chandarana's wife) is a shareholder and director. |
At the balance sheet date, the company was owed £54,872 (2021 : £34,101) by an associated company , EWJ Teknik UK ltd where Mr. Viresh Chandarana is a shareholder and director. |
V-TECH UK LTD (Registered number: 04581693) |
Notes to the Financial Statements - continued |
for the Year Ended 30 November 2022 |
13. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is |
As at balance sheet date, Mr. Viresh Chandarana was the ultimate controlling party by virtue of his 51% shares in the company. |
Also, at the balance sheet date, Mr Shashi Chandara own 49% shares in the company. |