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REGISTERED NUMBER: 08464104 (England and Wales)


















Unaudited Financial Statements

for the Year Ended 31 December 2022

for

Vicovanu Ltd

Vicovanu Ltd (Registered number: 08464104)






Contents of the Financial Statements
for the Year Ended 31 December 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

Vicovanu Ltd

Company Information
for the Year Ended 31 December 2022







DIRECTOR: S Vicovanu





REGISTERED OFFICE: Lakeview House
4 Woodbrook Crescent
Billericay
Essex
CM12 0EQ





BUSINESS ADDRESS: Unit 17D, Askew Industrial Estate
Askew Farm Lane
Grays
Essex
RM17 5XR





REGISTERED NUMBER: 08464104 (England and Wales)





ACCOUNTANTS: Mudd Partners LLP
Chartered Accountants
Lakeview House
4 Woodbrook Crescent
Billericay
Essex
CM12 0EQ

Vicovanu Ltd (Registered number: 08464104)

Balance Sheet
31 December 2022

31.12.22 31.12.21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,129,561 549,662

CURRENT ASSETS
Stocks 12,000 -
Debtors 5 1,509,279 1,093,635
Cash at bank 126,855 244,894
1,648,134 1,338,529
CREDITORS
Amounts falling due within one year 6 1,251,806 545,691
NET CURRENT ASSETS 396,328 792,838
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,525,889

1,342,500

CREDITORS
Amounts falling due after more than one
year

7

(828,431

)

(233,903

)

PROVISIONS FOR LIABILITIES (102,197 ) (83,595 )
NET ASSETS 595,261 1,025,002

CAPITAL AND RESERVES
Called up share capital 9 1 1
Retained earnings 595,260 1,025,001
SHAREHOLDERS' FUNDS 595,261 1,025,002

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

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

Vicovanu Ltd (Registered number: 08464104)

Balance Sheet - continued
31 December 2022


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 31 August 2023 and were signed by:





S Vicovanu - Director


Vicovanu Ltd (Registered number: 08464104)

Notes to the Financial Statements
for the Year Ended 31 December 2022

1. STATUTORY INFORMATION

Vicovanu 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 represents net invoiced sales of services, excluding value added tax (having regard to the fulfilment of contractual obligations).

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - Over the period of the lease
Plant and machinery etc - 33.3% straight line and 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Vicovanu Ltd (Registered number: 08464104)

Notes to the Financial Statements - continued
for the Year Ended 31 December 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 10 (2021 - 4 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2022 - 947,939 947,939
Additions 10,000 761,256 771,256
Disposals - (30,000 ) (30,000 )
At 31 December 2022 10,000 1,679,195 1,689,195
DEPRECIATION
At 1 January 2022 - 398,277 398,277
Charge for year - 173,076 173,076
Eliminated on disposal - (11,719 ) (11,719 )
At 31 December 2022 - 559,634 559,634
NET BOOK VALUE
At 31 December 2022 10,000 1,119,561 1,129,561
At 31 December 2021 - 549,662 549,662

Vicovanu Ltd (Registered number: 08464104)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts and finance leases are as follows:

Plant and
machinery
etc
£   
COST
At 1 January 2022 785,385
Additions 736,070
Disposals (30,000 )
Transfer to ownership (200,204 )
At 31 December 2022 1,291,251
DEPRECIATION
At 1 January 2022 315,434
Charge for year 153,921
Eliminated on disposal (11,719 )
Transfer to ownership (127,002 )
At 31 December 2022 330,634
NET BOOK VALUE
At 31 December 2022 960,617
At 31 December 2021 469,951

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Trade debtors 1,125,013 1,029,148
Other debtors 384,266 64,487
1,509,279 1,093,635

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Bank loans and overdrafts 10,162 7,051
Hire purchase contracts and finance leases 272,477 201,994
Trade creditors 434,844 100,684
Taxation and social security 38,408 119,276
Other creditors 495,915 116,686
1,251,806 545,691

Vicovanu Ltd (Registered number: 08464104)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.22 31.12.21
£    £   
Bank loans 29,597 38,143
Hire purchase contracts and finance leases 559,514 195,760
Other creditors 239,320 -
828,431 233,903

Amounts falling due in more than five years:

Repayable by instalments
Other loans more 5yrs instal 28,346 -

8. SECURED DEBTS

The following secured debts are included within creditors:

31.12.22 31.12.21
£    £   
Hire purchase contracts and finance leases 831,991 397,754
Invoice finance 424,608 -
1,256,599 397,754

The invoice finance is secured by a fixed and floating charge over all the property or undertaking of the company.
The loans in respect of the hire purchase and finance lease agreements are secured against the assets to which they relate.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.22 31.12.21
value: £    £   
1 Ordinary £1 1 1

10. OTHER FINANCIAL COMMITMENTS

At 31 December 2022, the company had lease commitments over the remaining life of those leases of £694,977 (December 2021 £855,779).

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Vicovanu Ltd

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Vicovanu Ltd for the year ended 31 December 2022 which comprise the Income Statement, 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Vicovanu Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Vicovanu Ltd and state those matters that we have agreed to state to the director of Vicovanu Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Vicovanu Ltd and its director for our work or for this report.

It is your duty to ensure that Vicovanu Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Vicovanu Ltd. You consider that Vicovanu Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Vicovanu Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Mudd Partners LLP
Chartered Accountants
Lakeview House
4 Woodbrook Crescent
Billericay
Essex
CM12 0EQ


31 August 2023