Company Registration No. 11285298 (England and Wales)
Velorim Ltd
Unaudited accounts
for the year ended 31 March 2023
Velorim Ltd
Unaudited accounts
Contents
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
Velorim Ltd
Statement of financial position
as at 31 March 2023
Tangible assets
26,073
34,369
Cash at bank and in hand
3,795
213
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)
Called up share capital
103,656
86,380
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
Velorim Ltd
Notes to the Accounts
for the year ended 31 March 2023
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
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
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
Disposals
(614)
(1,856)
(2,470)
At 31 March 2023
33,054
5,984
39,038
At 1 April 2022
4,823
448
5,271
Charge for the year
6,059
1,893
7,952
At 31 March 2023
10,624
2,341
12,965
At 31 March 2023
22,430
3,643
26,073
At 31 March 2022
28,845
5,524
34,369
Amounts falling due within one year
Accrued income and prepayments
-
1,009
Amounts falling due after more than one year
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
-
7
Creditors: amounts falling due after more than one year
2023
2022
8
Average number of employees
During the year the average number of employees was 5 (2022: 5).