VPS Trading Ltd SC604192 retail industrial equipment false 1 September 2022 SC604192 2022-09-01 2023-08-31 SC604192 2022-08-31 SC604192 2023-08-31 SC604192 2021-09-01 2022-08-31 SC604192 2021-08-31 SC604192 2022-08-31 SC604192 frs102-bus:FRS102 2022-09-01 2023-08-31 SC604192 frs102-bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 SC604192 frs102-bus:FullAccounts 2022-09-01 2023-08-31 SC604192 frs102-bus:AuditExemptWithAccountantsReport 2022-09-01 2023-08-31 SC604192 frs102-core:CurrentFinancialInstruments 2023-08-31 SC604192 frs102-core:CurrentFinancialInstruments 2022-08-31 SC604192 frs102-core:Non-currentFinancialInstruments 2023-08-31 SC604192 frs102-core:Non-currentFinancialInstruments 2022-08-31 SC604192 frs102-core:ShareCapital 2023-08-31 SC604192 frs102-core:ShareCapital 2022-08-31 SC604192 frs102-core:RetainedEarningsAccumulatedLosses 2023-08-31 SC604192 frs102-core:RetainedEarningsAccumulatedLosses 2022-08-31 SC604192 frs102-bus:Director1 2022-09-01 2023-08-31 SC604192 frs102-core:ComputerEquipment 2022-09-01 2023-08-31 SC604192 frs102-core:FurnitureFittings 2022-09-01 2023-08-31 SC604192 frs102-core:OfficeEquipment 2022-09-01 2023-08-31 SC604192 frs102-core:PlantMachinery 2022-09-01 2023-08-31 SC604192 frs102-core:ComputerEquipment 2022-08-31 SC604192 frs102-core:FurnitureFittings 2022-08-31 SC604192 frs102-core:OfficeEquipment 2022-08-31 SC604192 frs102-core:PlantMachinery 2022-08-31 SC604192 frs102-core:ComputerEquipment 2023-08-31 SC604192 frs102-core:FurnitureFittings 2023-08-31 SC604192 frs102-core:OfficeEquipment 2023-08-31 SC604192 frs102-core:PlantMachinery 2023-08-31 SC604192 frs102-core:ComputerEquipment 2022-08-31 SC604192 frs102-core:FurnitureFittings 2022-08-31 SC604192 frs102-core:OfficeEquipment 2022-08-31 SC604192 frs102-core:PlantMachinery 2022-08-31 SC604192 frs102-bus:OrdinaryShareClass1 2023-08-31 SC604192 frs102-bus:OrdinaryShareClass1 2022-08-31 SC604192 frs102-bus:OrdinaryShareClass1 2022-09-01 2023-08-31 xbrli:pure iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares
Registered number
SC604192
VPS Trading Ltd
Unaudited Accounts
for the year ended
31 August 2023
VPS Trading Ltd
Balance Sheet
as at 31 August 2023
Notes
2023
£
2022
£
Fixed assets
Tangible assets 3 36,260 31,049
36,260 31,049
Current assets
Stocks 335,479 329,041
Debtors 4 9,786 9,786
Cash at bank and in hand 39,330 33,357
384,595 372,184
Creditors: amounts falling due within one year 5 (267,391) (176,377)
Net current assets / (liabilities) 117,204 195,807
Total assets less current liabilities 153,464 226,856
Creditors: amounts falling due after more than one year 6 (20,247) (33,150)
Provisions for liabilities (0) (5,420)
Total net assets (liabilities) 133,217 188,286
Capital and reserves
Called up share capital 7 10,010 10,010
Profit and loss account 123,207 178,276
Shareholders' funds 133,217 188,286

VPS Trading Ltd
Balance Sheet
as at 31 August 2023



These accounts have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

The directors have not delivered a copy of the company's Profit and Loss account as permitted by s444(5A) of the Companies Act 2006.

For the year ending 31 August 2023 the company was entitled to exemption 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.

Signed on behalf of the board of directors

...............................

Mr G Riddell

Director


Approved by the board on 25 March 2024

Company Number: SC604192 (a Private Company Limited by Shares registered in Scotland)

Registered Office:

Unit 30 Westfield North Industrial Estate Grayshill Road
Cumbernauld
Glasgow
G68 9HQ
Scotland

VPS Trading Ltd
Notes to the Accounts
for the year ended 31 August 2023

1. Accounting policies

Basis of preparation of financial statements
These financial statements have been prepared under the historic cost convention in accordance with the accounting policies set out below and with section 1A of FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The presentation currency is sterling.
Going concern basis
The accounts have been prepared on the assumption that the company is able to carry on business as a going concern for the foreseeable future.
Revenue recognition
Revenue is measured at the fair value of the consideration received or receivable. Revenue is reduced for estimated customer returns, rebates and other similar allowances. Revenue from the sale of goods is recognised when goods are delivered and legal title has passed.
Tangible fixed assets depreciation policy
Tangible fixed assets are stated at cost less accumulated depreciation and impairment losses. Depreciation is provided, after taking account of any grants receivable, at rates calculated to write off the cost of fixed assets, less the estimated residual value, over their estimated useful lives.
Computer equipment 20% Reducing Balance
Fixtures & Fittings 20% Reducing Balance
Office equipment 20% Reducing Balance
Plant & machinery 20% Reducing Balance
Stocks
Stocks are valued at the lower of cost and net realisable value after taking into account costs of completion and sale. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads. The amount of any write-down to net realisable value, and all losses of stock, are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down is recognised as a reduction in the amount of stock expensed in the period in which the reversal occurs.
Deferred taxation
Taxation represents the sum of tax currently payable and deferred tax. Current tax is calculated using tax rates that have been enacted or substantially enacted at the end of the reporting period. Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or a right to pay less) tax at a future date, at the tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of part of the asset to be recovered.
2. Employees
2023 2022
Average number of employees during the period 7 6

3. Tangible fixed assets
Computer equipment Fixtures & Fittings Office equipment Plant & machinery Total
Cost or valuation £ £ £ £ £
At 1 September 2022 4,150 19,407 1,250 23,000 47,807
Additions 1,083 4,541 0 8,651 14,275
At 31 August 2023 5,233 23,948 1,250 31,651 62,082
Depreciation
At 1 September 2022 2,058 7,362 738 6,600 16,758
Charge for the period 635 3,317 102 5,010 9,064
At 31 August 2023 2,693 10,679 840 11,610 25,822
Net book value
At 31 August 2023 2,540 13,269 410 20,041 36,260
At 31 August 2022 2,092 12,045 512 16,400 31,049

4. Debtors
2023 2022
£ £
Other debtors 9,786 9,786
9,786 9,786

5. Creditors: amounts falling due within one year
2023 2022
£ £
Bank Loans & Overdrafts 72,806 27,870
Trade creditors 104,549 86,509
Taxation & social security 86,047 61,527
Other creditors 3,989 471
267,391 176,377

6. Creditors: amounts falling due after one year
2023 2022
£ £
Bank Loans & overdrafts 20,247 33,150
20,247 33,150

7. Share capital
2023 2022
£ £
Allotted, called up and fully paid:
1,010 (2022: 1,010) Ordinary shares of £9.910891 each 10,010.00 10,010.00
10,010 10,010

8. Related party disclosures

During the period of accounts a transaction occurred between this company and a related party, Mr G Riddell. The relationship between the parties is Director. At the balance sheet date the company owed the related party £1,958.