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REGISTERED NUMBER: 01525537 (England and Wales)















Financial Statements for the Year Ended 31 October 2023

for

Vantage Industrial Equipment Limited

Vantage Industrial Equipment Limited (Registered number: 01525537)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Vantage Industrial Equipment Limited

Company Information
for the Year Ended 31 October 2023







DIRECTORS: S L Hutton
Mrs L M Hutton





SECRETARY: Mrs L M Hutton





REGISTERED OFFICE: Unit 37
Phoenix Industrial Estate
Charles Street
West Bromwich
West Midlands
B70 0AY





REGISTERED NUMBER: 01525537 (England and Wales)





ACCOUNTANTS: Haines Watts Wolverhampton Limited
Keepers Lane
The Wergs
Wolverhampton
West Midlands
WV6 8UA

Vantage Industrial Equipment Limited (Registered number: 01525537)

Balance Sheet
31 October 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 9,449 18,896

CURRENT ASSETS
Stocks 39,898 40,523
Debtors 5 406,414 412,584
Cash at bank 81,114 86,750
527,426 539,857
CREDITORS
Amounts falling due within one year 6 280,742 308,076
NET CURRENT ASSETS 246,684 231,781
TOTAL ASSETS LESS CURRENT
LIABILITIES

256,133

250,677

CREDITORS
Amounts falling due after more than one
year

7

15,873

26,349
NET ASSETS 240,260 224,328

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 240,160 224,228
SHAREHOLDERS' FUNDS 240,260 224,328

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 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.

Vantage Industrial Equipment Limited (Registered number: 01525537)

Balance Sheet - continued
31 October 2023


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 July 2024 and were signed on its behalf by:





S L Hutton - Director


Vantage Industrial Equipment Limited (Registered number: 01525537)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

Vantage Industrial Equipment 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.

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.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 25% on cost

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 Profit and Loss Account, 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Vantage Industrial Equipment Limited (Registered number: 01525537)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 November 2022 16,989 1,099 28,900 2,118 49,106
Additions - - 4,000 291 4,291
Disposals - - (28,900 ) - (28,900 )
At 31 October 2023 16,989 1,099 4,000 2,409 24,497
DEPRECIATION
At 1 November 2022 11,479 261 16,806 1,664 30,210
Charge for year 826 126 333 359 1,644
Eliminated on disposal - - (16,806 ) - (16,806 )
At 31 October 2023 12,305 387 333 2,023 15,048
NET BOOK VALUE
At 31 October 2023 4,684 712 3,667 386 9,449
At 31 October 2022 5,510 838 12,094 454 18,896

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 405,203 407,921
Other debtors 1,211 4,663
406,414 412,584

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,648 10,000
Hire purchase contracts - 10,211
Trade creditors 215,845 230,042
Taxation and social security 35,743 38,622
Other creditors 18,506 19,201
280,742 308,076

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 15,873 26,349

Vantage Industrial Equipment Limited (Registered number: 01525537)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100