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REGISTERED NUMBER: 09669838 (England and Wales)















VS TECH LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023






VS TECH LIMITED (REGISTERED NUMBER: 09669838)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


VS TECH LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTORS: B N Sandy
L N Vernon





REGISTERED OFFICE: The Moat House
Newport Road
Stafford
Staffordshire
ST16 2EZ





REGISTERED NUMBER: 09669838 (England and Wales)

VS TECH LIMITED (REGISTERED NUMBER: 09669838)

BALANCE SHEET
30 JUNE 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 53,406 108,406
Tangible assets 5 41,826 38,322
95,232 146,728

CURRENT ASSETS
Stocks 171,076 187,190
Debtors 6 340,440 201,822
Cash at bank and in hand 381,244 227,111
892,760 616,123
CREDITORS
Amounts falling due within one year 7 (629,925 ) (458,961 )
NET CURRENT ASSETS 262,835 157,162
TOTAL ASSETS LESS CURRENT LIABILITIES 358,067 303,890

CREDITORS
Amounts falling due after more than one
year

8

(28,264

)

(77,062

)

PROVISIONS FOR LIABILITIES (10,457 ) (11,973 )
NET ASSETS 319,346 214,855

CAPITAL AND RESERVES
Called up share capital 10 4 4
Retained earnings 319,342 214,851
SHAREHOLDERS' FUNDS 319,346 214,855

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 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.

VS TECH LIMITED (REGISTERED NUMBER: 09669838)

BALANCE SHEET - 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 February 2024 and were signed on its behalf by:





L N Vernon - Director


VS TECH LIMITED (REGISTERED NUMBER: 09669838)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023


1. STATUTORY INFORMATION

Vs Tech 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 Section 1A "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Sale of goods
Turnover from the sale of mobile phone products is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transactions can be measured reliably. This is usually on dispatch of the goods.

Interest receivable
Interest income is recognised using the effective interest method.

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 - 25% on reducing balance
Fixtures and fittings - 15% on reducing balance
Computer equipment - 25% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


VS TECH LIMITED (REGISTERED NUMBER: 09669838)

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 Profit and Loss Account, 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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2022 - 24 ) .

VS TECH LIMITED (REGISTERED NUMBER: 09669838)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2022
and 30 June 2023 406,012
AMORTISATION
At 1 July 2022 297,606
Amortisation for year 55,000
At 30 June 2023 352,606
NET BOOK VALUE
At 30 June 2023 53,406
At 30 June 2022 108,406

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 July 2022 69,041 3,319 17,037 89,397
Additions 7,331 67 9,778 17,176
At 30 June 2023 76,372 3,386 26,815 106,573
DEPRECIATION
At 1 July 2022 41,905 1,358 7,812 51,075
Charge for year 8,617 304 4,751 13,672
At 30 June 2023 50,522 1,662 12,563 64,747
NET BOOK VALUE
At 30 June 2023 25,850 1,724 14,252 41,826
At 30 June 2022 27,136 1,961 9,225 38,322

VS TECH LIMITED (REGISTERED NUMBER: 09669838)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 3,454 2,573
Other debtors 28,960 180
Social security and other taxes - 1,868
Directors' loan accounts 51,903 -
Deferred tax asset 39,755 29,698
Tax 14,717 -
Accrued income 180,765 135,316
Prepayments 20,886 32,187
340,440 201,822

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 52,642 53,709
Trade creditors 338,495 255,689
Tax 81,517 38,918
Social security and other taxes 15,776 -
VAT 63,965 60,736
Other creditors 21,914 8,885
Directors' current accounts - 5,526
Accruals and deferred income 55,616 35,498
629,925 458,961

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years 10,057 77,062
Bank loans - 2-5 years 18,207 -
28,264 77,062

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 42,833 83,123

A bank loan is secured via a fixed and floating charge over all assets of the company.

VS TECH LIMITED (REGISTERED NUMBER: 09669838)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2 Ordinary £1 2 2
1 Ordinary A £1 1 1
1 Ordinary B £1 1 1
4 4

11. OTHER FINANCIAL COMMITMENTS

Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £206,584 (2022: £187,584).

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the year ended 30 June 2023 and the period ended 30 June 2022:

2023 2022
£    £   
B N Sandy
Balance outstanding at start of year - -
Amounts advanced 43,995 -
Amounts repaid (27,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 16,995 -

L N Vernon
Balance outstanding at start of year - -
Amounts advanced 35,276 -
Amounts repaid (368 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 34,908 -

Interest on the loans have been levied at 2% per annum (0% 2022). The loans are repayable on demand.