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REGISTERED NUMBER: 09960782 (England and Wales)






























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

VEXGOLD LIMITED

VEXGOLD LIMITED (REGISTERED NUMBER: 09960782)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


VEXGOLD LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTORS: Mr J Malone
Mr M K Halfpenny
Mr S A Hardy
Mrs M J Hardy





REGISTERED OFFICE: Unit A
690 Melton Road
Thurmaston
Leicester
LE4 8BB





REGISTERED NUMBER: 09960782 (England and Wales)

VEXGOLD LIMITED (REGISTERED NUMBER: 09960782)

BALANCE SHEET
28 FEBRUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 83,463 94,679

CURRENT ASSETS
Stocks 282,201 275,239
Debtors 5 837,474 851,248
Cash at bank and in hand 557,185 453,066
1,676,860 1,579,553
CREDITORS
Amounts falling due within one year 6 1,091,157 916,156
NET CURRENT ASSETS 585,703 663,397
TOTAL ASSETS LESS CURRENT
LIABILITIES

669,166

758,076

CREDITORS
Amounts falling due after more than one
year

7

(139,385

)

(219,555

)

PROVISIONS FOR LIABILITIES (20,866 ) (17,850 )
NET ASSETS 508,915 520,671

CAPITAL AND RESERVES
Called up share capital 1,150 1,150
Share premium 8,500 8,500
Retained earnings 499,265 511,021
508,915 520,671

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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.

VEXGOLD LIMITED (REGISTERED NUMBER: 09960782)

BALANCE SHEET - continued
28 FEBRUARY 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 2 November 2023 and were signed on its behalf by:




Mr S A Hardy - Director



Mr J Malone - Director


VEXGOLD LIMITED (REGISTERED NUMBER: 09960782)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023


1. STATUTORY INFORMATION

Vexgold 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Revenue comprises the fair value for the sale of goods and services excluding value added taxes and represents net invoice value. The company provides services and supplies products to customers under standard terms and conditions. In all cases revenue is recognised when the risks and rewards of ownership are transferred and this is defined to be on the exchange of goods and completion of services.

Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 3 year straight line method

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.


VEXGOLD LIMITED (REGISTERED NUMBER: 09960782)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


2. ACCOUNTING POLICIES - continued
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.

Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 10 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 March 2022 15,124 17,816 133,116 4,130 170,186
Additions - 1,680 - 14,575 16,255
At 28 February 2023 15,124 19,496 133,116 18,705 186,441
DEPRECIATION
At 1 March 2022 11,883 7,730 55,314 580 75,507
Charge for year 810 2,942 19,451 4,268 27,471
At 28 February 2023 12,693 10,672 74,765 4,848 102,978
NET BOOK VALUE
At 28 February 2023 2,431 8,824 58,351 13,857 83,463
At 28 February 2022 3,241 10,086 77,802 3,550 94,679

VEXGOLD LIMITED (REGISTERED NUMBER: 09960782)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 805,676 726,136
Amounts owed by group undertakings - 108,213
Other debtors 31,798 16,899
837,474 851,248

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 62,500 57,292
Hire purchase contracts (see note 8) 13,298 25,938
Trade creditors 688,287 645,646
Amounts owed to group undertakings 116,549 -
Taxation and social security 156,242 145,638
Other creditors 54,281 41,642
1,091,157 916,156

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 125,065 192,708
Hire purchase contracts (see note 8) 14,320 26,847
139,385 219,555

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 13,298 25,938
Between one and five years 14,320 26,847
27,618 52,785

VEXGOLD LIMITED (REGISTERED NUMBER: 09960782)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


8. LEASING AGREEMENTS - continued

Non-cancellable operating leases
2023 2022
£    £   
Within one year 42,150 71,717
Between one and five years 15,425 36,557
57,575 108,274