IRIS Accounts Production v23.3.0.418 08054079 director 1.7.22 30.6.23 30.6.23 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh080540792022-06-30080540792023-06-30080540792022-07-012023-06-30080540792021-06-30080540792021-07-012022-06-30080540792022-06-3008054079ns10:Originalns15:EnglandWales2022-07-012023-06-3008054079ns14:PoundSterlingns10:Original2022-07-012023-06-3008054079ns10:Originalns10:Director12022-07-012023-06-3008054079ns10:Original2022-07-012023-06-3008054079ns10:Original2023-06-3008054079ns10:Originalns10:PrivateLimitedCompanyLtd2022-07-012023-06-3008054079ns10:Originalns10:SmallEntities2022-07-012023-06-3008054079ns10:Originalns10:AuditExempt-NoAccountantsReport2022-07-012023-06-3008054079ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-07-012023-06-3008054079ns10:SmallCompaniesRegimeForAccountsns10:Original2022-07-012023-06-3008054079ns10:Originalns10:FullAccounts2022-07-012023-06-3008054079ns10:Original12022-07-012023-06-3008054079ns10:Originalns10:RegisteredOffice2022-07-012023-06-3008054079ns10:Original2022-06-3008054079ns10:Originalns5:CurrentFinancialInstruments2023-06-3008054079ns10:Originalns5:CurrentFinancialInstruments2022-06-3008054079ns10:Originalns5:Non-currentFinancialInstruments2023-06-3008054079ns10:Originalns5:Non-currentFinancialInstruments2022-06-3008054079ns5:ShareCapitalns10:Original2023-06-3008054079ns5:ShareCapitalns10:Original2022-06-3008054079ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-06-3008054079ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-06-3008054079ns10:Original2021-07-012022-06-3008054079ns10:Originalns5:NetGoodwill2022-06-3008054079ns10:Originalns5:NetGoodwill2023-06-3008054079ns10:Originalns5:NetGoodwill2022-06-3008054079ns10:Originalns5:PlantMachinery2022-06-3008054079ns10:Originalns5:PlantMachinery2022-07-012023-06-3008054079ns10:Originalns5:PlantMachinery2023-06-3008054079ns10:Originalns5:PlantMachinery2022-06-3008054079ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-06-3008054079ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-06-3008054079ns10:Originalns5:CurrentFinancialInstruments2022-07-012023-06-3008054079ns10:Original1ns10:Director12022-06-3008054079ns10:Original1ns10:Director12021-06-3008054079ns10:Original1ns10:Director12022-07-012023-06-3008054079ns10:Original1ns10:Director12021-07-012022-06-3008054079ns10:Original1ns10:Director12023-06-3008054079ns10:Original1ns10:Director12022-06-30
REGISTERED NUMBER: 08054079 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

FOR

VTV INTERIORS LTD

VTV INTERIORS LTD (REGISTERED NUMBER: 08054079)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 June 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


VTV INTERIORS LTD

COMPANY INFORMATION
for the Year Ended 30 June 2023







DIRECTOR: V Kolodijs





REGISTERED OFFICE: 267 Romford Road
London
E7 9HJ





REGISTERED NUMBER: 08054079 (England and Wales)





ACCOUNTANTS: Accura Accountants Ltd
Langley House
Park Road
East Finchley
London
N2 8EY

VTV INTERIORS LTD (REGISTERED NUMBER: 08054079)

STATEMENT OF FINANCIAL POSITION
30 June 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 11,950 11,506
11,950 11,506

CURRENT ASSETS
Stocks 15,000 29,345
Debtors 6 27,451 23,490
Cash at bank and in hand 328,272 56,527
370,723 109,362
CREDITORS
Amounts falling due within one year 7 354,786 117,970
NET CURRENT ASSETS/(LIABILITIES) 15,937 (8,608 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

27,887

2,898

CREDITORS
Amounts falling due after more than one
year

8

(20,752

)

(30,746

)

PROVISIONS FOR LIABILITIES (1,508 ) (1,339 )
NET ASSETS/(LIABILITIES) 5,627 (29,187 )

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 5,625 (29,189 )
SHAREHOLDERS' FUNDS 5,627 (29,187 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 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.

VTV INTERIORS LTD (REGISTERED NUMBER: 08054079)

STATEMENT OF FINANCIAL POSITION - continued
30 June 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 director and authorised for issue on 2 February 2024 and were signed by:





V Kolodijs - Director


VTV INTERIORS LTD (REGISTERED NUMBER: 08054079)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

VTV Interiors 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 is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, excluding discounts, rebates, value added tax and other sales taxes.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

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

Plant and machinery - 15% Reducing balance
Fixtures and fittings - 25% Reducing balance
Computer equipment - 25% Reducing balance
Motor vehicles - 20% Reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.


VTV INTERIORS LTD (REGISTERED NUMBER: 08054079)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2023

2. ACCOUNTING POLICIES - continued
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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Impairment of assets
A review of indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversals at each reporting date.

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any material unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment or to provide termination benefits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2022
and 30 June 2023 10,000
AMORTISATION
At 1 July 2022
and 30 June 2023 10,000
NET BOOK VALUE
At 30 June 2023 -
At 30 June 2022 -

VTV INTERIORS LTD (REGISTERED NUMBER: 08054079)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2022 38,189
Additions 3,711
At 30 June 2023 41,900
DEPRECIATION
At 1 July 2022 26,683
Charge for year 3,267
At 30 June 2023 29,950
NET BOOK VALUE
At 30 June 2023 11,950
At 30 June 2022 11,506

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade debtors - 18,152
Other debtors 27,451 5,338
27,451 23,490

Included within other debtors are prepayments of £1,600 (2022: £1,600)

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Bank loans and overdrafts 9,994 9,747
Trade creditors 59,314 14,341
Taxation and social security 19,709 328
Other creditors 265,769 93,554
354,786 117,970

Included within other creditors are accrued expenses of £6,000 (2022: £6,000) and deferred income of £210,000 (2022: £Nil).

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.23 30.6.22
£    £   
Bank loans 20,752 30,746

VTV INTERIORS LTD (REGISTERED NUMBER: 08054079)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2023

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2023 and 30 June 2022:

30.6.23 30.6.22
£    £   
V Kolodijs
Balance outstanding at start of year 3,739 4,279
Amounts advanced 15,962 32,072
Amounts repaid (19,916 ) (32,612 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (215 ) 3,739

All overdrawn loan balance are repayable on demand and personally guaranteed by the director.