VERTEX (PRODUCTS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
Vertex (Products) Limited is a private company, limited by shares, domiciled in Scotland with registration number SC429146. The registered office is Sir William Smith Road, Kirkton Industrial Estate, Arbroath, Angus, DD11 3RD.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The following principal accounting policies have been applied:
As at 31 July 2023 the Statement of Financial Position shows net liabilites. The company can only continue to operate with the support of the director, Mr A Dalglish, who has confirmed that he will financially support the company for the forseeable future. Therefore, the company will continue to adopt the going concern basis for the preparation of the financial statements.
Interest income is recognised in profit or loss using the effective interest method.
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
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The average monthly number of employees, including directors, during the year was 1 (2022 - 1).
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Amounts owed by joint ventures and associated undertakings
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