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REGISTERED NUMBER: 03614853 (England and Wales)
















Unaudited Financial Statements for the Year Ended 31 January 2023

for

Victoria Systems Limited

Victoria Systems Limited (Registered number: 03614853)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Victoria Systems Limited

Company Information
for the Year Ended 31 January 2023







DIRECTORS: P A Grimmett
D A Grimmett





SECRETARY: Mrs A J Grimmett





REGISTERED OFFICE: Unit 4401 Oakfield Close
Tewkesbury Business Park
Northway
Tewkesbury
Gloucestershire
GL20 8PF





REGISTERED NUMBER: 03614853 (England and Wales)





ACCOUNTANTS: Boyds Accountants
Britannia Court
5 Moor Street
Worcester
Worcestershire
WR1 3DB

Victoria Systems Limited (Registered number: 03614853)

Balance Sheet
31 January 2023

31.1.23 31.1.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 376,295 316,367

CURRENT ASSETS
Stocks 95,353 122,099
Debtors 5 76,289 65,832
Prepayments and accrued income 9,431 1,766
Cash in hand 691 365
181,764 190,062
CREDITORS
Amounts falling due within one year 6 (367,577 ) (303,765 )
NET CURRENT LIABILITIES (185,813 ) (113,703 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

190,482

202,664

CREDITORS
Amounts falling due after more than one
year

7

(88,536

)

(35,833

)

PROVISIONS FOR LIABILITIES - (966 )
NET ASSETS 101,946 165,865

CAPITAL AND RESERVES
Called up share capital 20 20
Retained earnings 101,926 165,845
101,946 165,865

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Victoria Systems Limited (Registered number: 03614853)

Balance Sheet - continued
31 January 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 Board of Directors and authorised for issue on 28 March 2023 and were signed on its behalf by:




P A Grimmett - Director



D A Grimmett - Director


Victoria Systems Limited (Registered number: 03614853)

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

1. STATUTORY INFORMATION

Victoria Systems 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.

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.
Freehold property - 2% on cost
Plant and machinery - 20% on reducing balance
Motor vehicles - 25% 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.

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 24 (2022 - 30 ) .

Victoria Systems Limited (Registered number: 03614853)

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

4. TANGIBLE FIXED ASSETS
Freehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 1 February 2022 399,599 250,473 113,784 763,856
Additions - 54,296 34,227 88,523
Disposals - (15,046 ) - (15,046 )
At 31 January 2023 399,599 289,723 148,011 837,333
DEPRECIATION
At 1 February 2022 99,489 237,421 110,579 447,489
Charge for year 5,580 10,026 4,465 20,071
Eliminated on disposal - (6,522 ) - (6,522 )
At 31 January 2023 105,069 240,925 115,044 461,038
NET BOOK VALUE
At 31 January 2023 294,530 48,798 32,967 376,295
At 31 January 2022 300,110 13,052 3,205 316,367

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Trade debtors 68,776 61,657
Other debtors 1,500 1,500
Tax 2,675 2,675
Deferred tax asset 3,338 -
76,289 65,832

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Bank loans and overdrafts 83,560 65,841
Hire purchase contracts 14,612 -
Trade creditors 142,411 121,649
Social security and other taxes 22,680 8,271
VAT 23,570 21,839
Other creditors - 75
Deferred income 58,308 64,412
Accrued expenses 22,436 21,678
367,577 303,765

Victoria Systems Limited (Registered number: 03614853)

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

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.23 31.1.22
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 15,834 25,833
Hire purchase contracts 62,702 -
88,536 35,833

8. SECURED DEBTS

The following secured debts are included within creditors:

31.1.23 31.1.22
£    £   
Bank overdrafts 73,560 55,841
Bank loans 35,834 45,833
Hire purchase contracts 77,314 -
186,708 101,674

9. ULTIMATE CONTROLLING PARTY

The controlling party is Mrs A J Grimmett.