Registered number
12412161
Vessel Creative Ltd
Filleted Accounts
31 January 2024
Vessel Creative Ltd
Registered number: 12412161
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 4,310 4,831
Current assets
Debtors 4 28,404 36,605
Cash at bank and in hand 131,185 50,535
159,589 87,140
Creditors: amounts falling due within one year 5 (40,357) (25,363)
Net current assets 119,232 61,777
Total assets less current liabilities 123,542 66,608
Provisions for liabilities (1,077) (581)
Net assets 122,465 66,027
Capital and reserves
Called up share capital 1 1
Profit and loss account 122,464 66,026
Shareholder's funds 122,465 66,027
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr N Holland
Director
Approved by the board on 5 August 2024
Vessel Creative Ltd
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Fixtures, fittings, tools and equipment 25% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 February 2023 8,723
Additions 916
At 31 January 2024 9,639
Depreciation
At 1 February 2023 3,892
Charge for the year 1,437
At 31 January 2024 5,329
Net book value
At 31 January 2024 4,310
At 31 January 2023 4,831
4 Debtors 2024 2023
£ £
Trade debtors 28,404 36,605
5 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 39,997 23,705
Other creditors 360 1,658
40,357 25,363
6 Other information
Vessel Creative Ltd is a private company limited by shares and incorporated in England. Its registered office is:
15 Dukes Ride
Crowthorne
Berkshire
RG45 6LZ
Vessel Creative Ltd 12412161 false 2023-02-01 2024-01-31 2024-01-31 VT Final Accounts April 2024 Mr N Holland No description of principal activity 12412161 2022-02-01 2023-01-31 12412161 core:WithinOneYear 2023-01-31 12412161 core:ShareCapital 2023-01-31 12412161 core:RetainedEarningsAccumulatedLosses 2023-01-31 12412161 2023-02-01 2024-01-31 12412161 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 12412161 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 12412161 bus:Director40 2023-02-01 2024-01-31 12412161 1 2023-02-01 2024-01-31 12412161 2 2023-02-01 2024-01-31 12412161 core:PlantMachinery 2023-02-01 2024-01-31 12412161 countries:England 2023-02-01 2024-01-31 12412161 bus:FRS102 2023-02-01 2024-01-31 12412161 bus:FilletedAccounts 2023-02-01 2024-01-31 12412161 2024-01-31 12412161 core:WithinOneYear 2024-01-31 12412161 core:ShareCapital 2024-01-31 12412161 core:RetainedEarningsAccumulatedLosses 2024-01-31 12412161 core:PlantMachinery 2024-01-31 12412161 2023-01-31 12412161 core:PlantMachinery 2023-01-31 iso4217:GBP xbrli:pure