1 April 2022 false No description of principal activity Taxfiler 2023.11 11285298business:PrivateLimitedCompanyLtd2022-04-012023-03-31 112852982022-03-31 112852982022-04-012023-03-31 11285298business:AuditExemptWithAccountantsReport2022-04-012023-03-31 11285298business:FilletedAccounts2022-04-012023-03-31 112852982023-03-31 11285298business:Director12022-04-012023-03-31 11285298business:Director22022-04-012023-03-31 11285298business:RegisteredOffice2022-04-012023-03-31 112852982022-03-31 11285298core:WithinOneYear2023-03-31 11285298core:WithinOneYear2022-03-31 11285298core:AfterOneYear2023-03-31 11285298core:AfterOneYear2022-03-31 11285298core:ShareCapitalcore:PreviouslyStatedAmount2023-03-31 11285298core:ShareCapitalcore:PreviouslyStatedAmount2022-03-31 11285298core:SharePremiumcore:PreviouslyStatedAmount2023-03-31 11285298core:SharePremiumcore:PreviouslyStatedAmount2022-03-31 11285298core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-03-31 11285298core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-03-31 11285298core:PreviouslyStatedAmount2023-03-31 11285298core:PreviouslyStatedAmount2022-03-31 11285298business:SmallEntities2022-04-012023-03-31 11285298countries:EnglandWales2022-04-012023-03-31 11285298core:PlantMachinery2022-04-012023-03-31 11285298core:ComputerEquipment2022-04-012023-03-31 11285298core:PlantMachinery2022-03-31 11285298core:ComputerEquipment2022-03-31 11285298core:PlantMachinery2023-03-31 11285298core:ComputerEquipment2023-03-31 112852982021-04-012022-03-31 iso4217:GBP xbrli:pure
Company Registration No. 11285298 (England and Wales)
Velorim Ltd Unaudited accounts for the year ended 31 March 2023
Velorim Ltd Unaudited accounts Contents
Page
- 2 -
Velorim Ltd Company Information for the year ended 31 March 2023
Directors
Richard William Leslie Lawrence Stuart Russell Taylor
Company Number
11285298 (England and Wales)
Registered Office
CREATE COMMUNITY HUB STAFFORD ROAD HUNTINGTON CANNOCK STAFFORDSHIRE WS12 4NU ENGLAND
Accountants
Chadwick Accountants & Bookkeepers Ltd Avon View Offices 90 High Street Bidford-on-Avon Warwickshire B50 4AF
- 3 -
Velorim Ltd Statement of financial position as at 31 March 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
26,073 
34,369 
Current assets
Debtors
14,826 
4,456 
Cash at bank and in hand
3,795 
213 
18,621 
4,669 
Creditors: amounts falling due within one year
(17,960)
(29,294)
Net current assets/(liabilities)
661 
(24,625)
Total assets less current liabilities
26,734 
9,744 
Creditors: amounts falling due after more than one year
(18,173)
(6,707)
Net assets
8,561 
3,037 
Capital and reserves
Called up share capital
103,656 
86,380 
Share premium
32,724 
- 
Profit and loss account
(127,819)
(83,343)
Shareholders' funds
8,561 
3,037 
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 22 December 2023 and were signed on its behalf by
Richard William Leslie Lawrence Director Company Registration No. 11285298
- 4 -
Velorim Ltd Notes to the Accounts for the year ended 31 March 2023
1
Statutory information
Velorim Ltd is a private company, limited by shares, registered in England and Wales, registration number 11285298. The registered office is CREATE COMMUNITY HUB STAFFORD ROAD, HUNTINGTON, CANNOCK, STAFFORDSHIRE, WS12 4NU, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Restated Accounts for Prior Years
The submitted accounts where accurate to the best knowledge of the directors in all the prior years. However, upon the preparation of Annual Accounts YE2022 several substantial errors have been discovered relating to YE2019, YE2020 and YE2021. In order to best represent Velorim's financial situation the company directors have decided to re-submit the currently inspected accounts, including all prior years.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
5-10 years
Computer equipment
3 years
- 5 -
Velorim Ltd Notes to the Accounts for the year ended 31 March 2023
4
Tangible fixed assets
Plant & machinery 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 April 2022
33,668 
5,972 
39,640 
Additions
- 
1,868 
1,868 
Disposals
(614)
(1,856)
(2,470)
At 31 March 2023
33,054 
5,984 
39,038 
Depreciation
At 1 April 2022
4,823 
448 
5,271 
Charge for the year
6,059 
1,893 
7,952 
On disposals
(258)
- 
(258)
At 31 March 2023
10,624 
2,341 
12,965 
Net book value
At 31 March 2023
22,430 
3,643 
26,073 
At 31 March 2022
28,845 
5,524 
34,369 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
2,884 
3,447 
Accrued income and prepayments
- 
1,009 
2,884 
4,456 
Amounts falling due after more than one year
Other debtors
11,942 
- 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Trade creditors
12,131 
5,302 
Other creditors
1,172 
23,602 
Loans from directors
3,937 
- 
Accruals
720 
390 
17,960 
29,294 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
18,173 
6,707 
8
Average number of employees
During the year the average number of employees was 5 (2022: 5).
- 6 -