Registered number
11200899
Velar Holdings Limited
Report and Accounts
28 February 2023
Velar Holdings Limited
Report to the directors on the preparation of the unaudited statutory accounts of Velar Holdings Limited for the year ended 28 February 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Velar Holdings Limited for the year ended 28 February 2023 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/
Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163.
Coalesco Accountants Limited
Chartered Certified Accountants
156 Russell Drive
Wollaton
Nottingham
Nottinghamshire
NG8 2BE
25 September 2023
Velar Holdings Limited
Registered number: 11200899
Balance Sheet
as at 28 February 2023
Notes 2023 2022
£ £
Current assets
Stocks 36,079 38,097
Debtors 3 11,419 2,716
Cash at bank and in hand 928 574
48,426 41,387
Creditors: amounts falling due within one year 4 (74,914) (65,165)
Net current liabilities (26,488) (23,778)
Net liabilities (26,488) (23,778)
Capital and reserves
Called up share capital 100 100
Profit and loss account (26,588) (23,878)
Shareholders' funds (26,488) (23,778)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
A Morris-Richardson
Director
Approved by the board on 25 September 2023
Velar Holdings Limited
Notes to the Accounts
for the year ended 28 February 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company (including non remunerated directors) 2 2
3 Debtors 2023 2022
£ £
Trade debtors 3,251 789
Other debtors 8,168 1,927
11,419 2,716
4 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 10,248 8,677
Other taxes and social security costs 9,162 3,193
Other creditors 55,504 53,295
74,914 65,165
5 Other information
Velar Holdings Limited is a private company limited by shares and incorporated in England. Its registered office is:
Windsor House
30 Old Coach Road
Nottingham
NG8 1GT
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