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REGISTERED NUMBER: 03614853 (England and Wales)
















Unaudited Financial Statements for the Year Ended 31 January 2024

for

Victoria Systems Limited

Victoria Systems Limited (Registered number: 03614853)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


Victoria Systems Limited

Company Information
for the Year Ended 31 January 2024







DIRECTORS: P A Grimmett
D A Grimmett
Mrs A J Grimmett





SECRETARY: Mrs A J Grimmett





REGISTERED OFFICE: Unit 4401 Oakfield Close
Tewkesbury Business Park
Northway
Tewkesbury
Gloucestershire
GL20 8PF





REGISTERED NUMBER: 03614853 (England and Wales)





ACCOUNTANTS: Boyds Accountants
Britannia Court
5 Moor Street
Worcester
Worcestershire
WR1 3DB

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Victoria Systems Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Victoria Systems Limited for the year ended 31 January 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Victoria Systems Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Victoria Systems Limited and state those matters that we have agreed to state to the Board of Directors of Victoria Systems Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Victoria Systems Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Victoria Systems Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Victoria Systems Limited. You consider that Victoria Systems Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Victoria Systems Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Boyds Accountants
Britannia Court
5 Moor Street
Worcester
Worcestershire
WR1 3DB


Date: .............................................

Victoria Systems Limited (Registered number: 03614853)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 400,821 376,295

CURRENT ASSETS
Stocks 102,409 95,353
Debtors 5 74,529 76,289
Prepayments and accrued income 7,957 9,431
Cash in hand 902 691
185,797 181,764
CREDITORS
Amounts falling due within one year 6 (460,777 ) (367,577 )
NET CURRENT LIABILITIES (274,980 ) (185,813 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

125,841

190,482

CREDITORS
Amounts falling due after more than one
year

7

(61,943

)

(88,536

)
NET ASSETS 63,898 101,946

CAPITAL AND RESERVES
Called up share capital 20 20
Retained earnings 63,878 101,926
63,898 101,946

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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.

Victoria Systems Limited (Registered number: 03614853)

Balance Sheet - continued
31 January 2024


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 6 March 2024 and were signed on its behalf by:




P A Grimmett - Director D A Grimmett - Director




Mrs A J Grimmett - Director


Victoria Systems Limited (Registered number: 03614853)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Victoria Systems 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 as modified by the revaluation of certain assets.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 20% on reducing balance
Motor vehicles - 25% on reducing balance

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 24 (2023 - 24 ) .

Victoria Systems Limited (Registered number: 03614853)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

4. TANGIBLE FIXED ASSETS
Freehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST OR VALUATION
At 1 February 2023 399,599 289,723 148,011 837,333
Additions - 456 - 456
Revaluations 50,000 - - 50,000
Reclassification/transfer - - (3,553 ) (3,553 )
At 31 January 2024 449,599 290,179 144,458 884,236
DEPRECIATION
At 1 February 2023 105,069 240,925 115,044 461,038
Charge for year 5,580 9,813 7,354 22,747
Reclassification/transfer - - (370 ) (370 )
At 31 January 2024 110,649 250,738 122,028 483,415
NET BOOK VALUE
At 31 January 2024 338,950 39,441 22,430 400,821
At 31 January 2023 294,530 48,798 32,967 376,295

Cost or valuation at 31 January 2024 is represented by:

Freehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
Valuation in 2024 50,000 - - 50,000
Cost 399,599 290,179 144,458 834,236
449,599 290,179 144,458 884,236

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 40,152 68,776
Other debtors 1,500 1,500
Tax 2,675 2,675
Deferred tax asset 30,202 3,338
74,529 76,289

Victoria Systems Limited (Registered number: 03614853)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts 99,725 83,560
Hire purchase contracts 14,848 14,612
Trade creditors 99,023 142,411
Social security and other taxes 42,924 22,680
VAT 60,774 23,570
Directors Loan Account 95,679 -
Deferred income 32,697 58,308
Accrued expenses 15,107 22,436
460,777 367,577

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 5,837 15,834
Hire purchase contracts 46,106 62,702
61,943 88,536

8. SECURED DEBTS

The following secured debts are included within creditors:

31.1.24 31.1.23
£    £   
Bank overdrafts 89,725 73,560
Bank loans 25,837 35,834
Hire purchase contracts 60,954 77,314
176,516 186,708

9. ULTIMATE CONTROLLING PARTY

The controlling party is Mrs A J Grimmett.