Caseware UK (AP4) 2023.0.135 2023.0.135 2023-09-302023-09-302022-10-01No description of principal activitytrue2false2falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 07362772 2022-10-01 2023-09-30 07362772 2021-10-01 2022-09-30 07362772 2023-09-30 07362772 2022-09-30 07362772 c:Director2 2022-10-01 2023-09-30 07362772 d:CurrentFinancialInstruments 2023-09-30 07362772 d:CurrentFinancialInstruments 2022-09-30 07362772 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 07362772 d:CurrentFinancialInstruments d:WithinOneYear 2022-09-30 07362772 d:ShareCapital 2023-09-30 07362772 d:ShareCapital 2022-09-30 07362772 d:RetainedEarningsAccumulatedLosses 2023-09-30 07362772 d:RetainedEarningsAccumulatedLosses 2022-09-30 07362772 c:OrdinaryShareClass1 2022-10-01 2023-09-30 07362772 c:OrdinaryShareClass1 2023-09-30 07362772 c:OrdinaryShareClass1 2022-09-30 07362772 c:FRS102 2022-10-01 2023-09-30 07362772 c:AuditExempt-NoAccountantsReport 2022-10-01 2023-09-30 07362772 c:FullAccounts 2022-10-01 2023-09-30 07362772 c:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 07362772 e:PoundSterling 2022-10-01 2023-09-30 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 07362772














VELTRIM LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

 
VELTRIM LIMITED
 

CONTENTS



Page
Statement of Financial Position
 
1
Notes to the Financial Statements
 
2 - 4


 
VELTRIM LIMITED
REGISTERED NUMBER:07362772

STATEMENT OF FINANCIAL POSITION
AS AT 30 SEPTEMBER 2023

2023
2022
Note
£
£

  

Current assets
  

Stocks
  
1,548,609
1,548,609

Debtors: amounts falling due within one year
 4 
55,875
2,489

Bank and cash balances
  
2,404
6,032

  
1,606,888
1,557,130

Current liabilities
  

Creditors: amounts falling due within one year
 5 
(1,611,312)
(1,556,588)

  

Net (liabilities)/assets
  
(4,424)
542


Capital and reserves
  

Called up share capital 
 6 
100
100

Profit and loss account
  
(4,524)
442

  
(4,424)
542


The Directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 9 July 2024.




M Catherall
Director

The notes on pages 2 to 4 form part of these financial statements.

Page 1

 
VELTRIM LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

1.


General information

Veltrim Limited is a limited liability Company registered in England and Wales. Its registered office address is at 2 Leman Street, London, E1W 9US.
The financial statements are presented in £ sterling, which is the functional currency of the Company.
The principal activity of the Company during the year was that of building contractors.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover comprises revenue recognised by the Company in respect of development property sales and rent receivable during the year, exclusive of Value Added Tax.
Property sales are recognised at the date of exchange of contracts. If completion is conditional upon an external event the sale is recognised at the time the transaction becomes unconditional.
Rental income is recognised in the period to which it relates.

 
2.3

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable. Cost for this purpose comprises the purchase of land and buildings, development expenditure and overheads.
In considering the net realisable value of land and properties it is assumed that developments will be completed and sold in the ordinary course of the company's business and that they would not be placed on the market for immediate sale.

Page 2

 
VELTRIM LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

 
2.4

Basic Financial Instruments

The Company only enters into transactions that result in basic financial instruments such as trade and other debtors, trade and other creditors, cash at bank and in hand, loans to/from related parties.
Trade debtors, other debtors and loans to related parties are recognised initially at the transaction price less attributable transaction costs. Trade creditors, other creditors and loans from related parties are recognised initially at transaction price plus attributable transaction costs. Subsequently they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade and other debtors, and loans to related parties.
Interest bearing borrowings, such bank loans, classified as basic financial instruments are recognised initially at the present value of future payments discounted at a maket rate of interest. Thereafter they are stated at amortised cost using the effective interest method.
Cash and cash equivalents comprise cash balances and call deposits. Bank overdrafts that are repayable on demand and form an integral part of the company's cash management.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 -2).


4.


Debtors

2023
2022
£
£


Other debtors
55,875
2,489



5.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
4,596
68

Other creditors
1,604,791
1,552,835

Accruals and deferred income
1,925
3,685

1,611,312
1,556,588


Page 3

 
VELTRIM LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

6.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 -100) Ordinary shares of £1 each
100
100


 
Page 4