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REGISTERED NUMBER: 04581693 (England and Wales)















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: V Chandarana





SECRETARY: V Chandarana





REGISTERED OFFICE: 181 Forest Road
Hainault
Essex
IG6 3HZ





REGISTERED NUMBER: 04581693 (England and Wales)





ACCOUNTANTS: Euro Ashfords (UK) Ltd
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 4 397 496
Tangible assets 5 173,597 210,510
173,994 211,006

CURRENT ASSETS
Stocks 1,389,868 1,242,584
Debtors 6 1,107,301 839,467
Cash at bank and in hand 12,246 9,155
2,509,415 2,091,206
CREDITORS
Amounts falling due within one year 7 1,582,837 1,373,711
NET CURRENT ASSETS 926,578 717,495
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,100,572

928,501

CREDITORS
Amounts falling due after more than one
year

8

(353,275

)

(231,260

)

PROVISIONS FOR LIABILITIES 10 (26,972 ) (33,122 )
NET ASSETS 720,325 664,119

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 720,225 664,019
SHAREHOLDERS' FUNDS 720,325 664,119

V-TECH UK LTD (Registered number: 04581693)

Balance Sheet - continued
30 November 2022


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2022 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.

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 23 October 2023 and were signed by:





V Chandarana - Director


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 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.

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.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

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 etc - 25% on reducing balance and 15% 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.

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 11 (2021 - 11 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 December 2021
and 30 November 2022 1,390
AMORTISATION
At 1 December 2021 894
Charge for year 99
At 30 November 2022 993
NET BOOK VALUE
At 30 November 2022 397
At 30 November 2021 496

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 December 2021
and 30 November 2022 954,562
DEPRECIATION
At 1 December 2021 744,052
Charge for year 36,913
At 30 November 2022 780,965
NET BOOK VALUE
At 30 November 2022 173,597
At 30 November 2021 210,510

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 694,801 381,701
Amounts owed by participating interests 309,490 410,572
Other debtors 103,010 47,194
1,107,301 839,467

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.22 30.11.21
£    £   
Bank loans and overdrafts (see note 9) 129,569 188,954
Trade creditors 150,337 250,372
Amounts owed to participating interests 139,894 -
Taxation and social security 224,060 206,063
Other creditors 938,977 728,322
1,582,837 1,373,711

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.22 30.11.21
£    £   
Bank loans (see note 9) 160,595 231,260
Other creditors 192,680 -
353,275 231,260

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 55,834 44,372
Bank loans 73,735 144,582
Other loans 231,258 -
360,827 188,954

Amounts falling due between one and two years:
Bank loans - 1-2 years 63,745 -
Other loans - 1-2 years 133,275 -
197,020 -

Amounts falling due between two and five years:
Bank loans - 2-5 years 96,850 231,260
Other loans - 2-5 years 59,405 -
156,255 231,260

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 26,972 33,122

Deferred
tax
£   
Balance at 1 December 2021 33,122
Utilised during year (6,150 )
Balance at 30 November 2022 26,972

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
£    £   
V Chandarana
Balance outstanding at start of year (17,348 ) 59,037
Amounts advanced 17,147 -
Amounts repaid - (76,385 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (201 ) (17,348 )

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 V Chandarana.

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.