Registered number
04058078
Vantage Resourcing Solutions Limited
Unaudited Filleted Accounts
31 July 2023
Vantage Resourcing Solutions Limited
Registered number: 04058078
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 522,963 13,317
Current assets
Debtors 4 469,239 808,990
Cash at bank and in hand 783,045 1,092,881
1,252,284 1,901,871
Creditors: amounts falling due within one year 5 (335,613) (622,571)
Net current assets 916,671 1,279,300
Total assets less current liabilities 1,439,634 1,292,617
Provisions for liabilities (1,761) (2,036)
Net assets 1,437,873 1,290,581
Capital and reserves
Called up share capital 100 100
Profit and loss account 1,437,773 1,290,481
Shareholders' funds 1,437,873 1,290,581
The director is 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 director acknowledges his 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.
David C Jones
Director
Approved by the board on 14 November 2023
Vantage Resourcing Solutions Limited
Notes to the Accounts
for the year ended 31 July 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 (as applied to small entities by section 1A of the standard).
Turnover
Turnover wholly represents amounts invoiced in respect of the sale of services during the year , excluding VAT.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery , office equipment etc over 4 years
Leasehold Improvements over 10 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 36 76
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 August 2022 7,821 61,476 69,297
Additions 515,917 2,891 518,808
Disposals (7,821) - (7,821)
At 31 July 2023 515,917 64,367 580,284
Depreciation
At 1 August 2022 2,650 53,330 55,980
Charge for the year 5,171 3,991 9,162
On disposals (7,821) - (7,821)
At 31 July 2023 - 57,321 57,321
Net book value
At 31 July 2023 515,917 7,046 522,963
At 31 July 2022 5,171 8,146 13,317
4 Debtors 2023 2022
£ £
Trade debtors 367,312 646,359
Other debtors 101,927 162,631
469,239 808,990
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 5,684 14,597
Other taxes and social security costs 130,687 253,291
Other creditors 199,242 354,683
335,613 622,571
6 Related party transactions
During the year , the company purchased the property from which the company trades , 26a Northenden Road , Sale , Cheshire from D . Jones , the director and majority shareholder , at a cost of £500,000 , plus legal fees.
7 Other information
Vantage Resourcing Solutions Limited is a private company limited by shares and incorporated in England. Its registered office is:
Vantage House
26A Northenden Road
Sale
Cheshire
M33 3BR
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