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REGISTERED NUMBER: 01609321 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 March 2024

for

VELVETWARD LIMITED

VELVETWARD LIMITED (REGISTERED NUMBER: 01609321)

Contents of the Financial Statements
for the year ended 31 March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


VELVETWARD LIMITED

Company Information
for the year ended 31 March 2024







Directors: Mr P J Howes
Mrs J D Howes





Registered office: 11 Vicarage Road
Hornchurch
Essex
RM12 4AS





Registered number: 01609321 (England and Wales)





Accountants: Cooper Parry Advisory Limited
Juniper House
Warley Hill Business Park
The Drive
Brentwood
Essex
CM13 3BE

VELVETWARD LIMITED (REGISTERED NUMBER: 01609321)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 4 4,078 4,078

Current assets
Debtors 5 200 200
Cash at bank 64 64
264 264
Creditors
Amounts falling due within one year 6 35,991 35,991
Net current liabilities (35,727 ) (35,727 )
Total assets less current liabilities (31,649 ) (31,649 )

Capital and reserves
Called up share capital 7 2 2
Retained earnings (31,651 ) (31,651 )
Shareholders' funds (31,649 ) (31,649 )

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

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

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 Statement of Income and Retained Earnings has not been delivered.

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





Mrs J D Howes - Director


VELVETWARD LIMITED (REGISTERED NUMBER: 01609321)

Notes to the Financial Statements
for the year ended 31 March 2024


1. Statutory information

Velvetward 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

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 - 35% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

3. Employees and directors

The average number of employees during the year was 2 (2023 - 2 ) .

VELVETWARD LIMITED (REGISTERED NUMBER: 01609321)

Notes to the Financial Statements - continued
for the year ended 31 March 2024


4. Tangible fixed assets
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
Cost
At 1 April 2023
and 31 March 2024 37,846 17,849 10,364 66,059
Depreciation
At 1 April 2023
and 31 March 2024 34,558 17,545 9,878 61,981
Net book value
At 31 March 2024 3,288 304 486 4,078
At 31 March 2023 3,288 304 486 4,078

5. Debtors: amounts falling due within one year
2024 2023
£    £   
Other debtors 200 200

6. Creditors: amounts falling due within one year
2024 2023
£    £   
Other creditors 35,991 35,991

7. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary £1 2 2