IRIS Accounts Production v24.2.0.383 02572306 Board of Directors 1.1.23 31.12.23 31.12.23 true false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh025723062022-12-31025723062023-12-31025723062023-01-012023-12-31025723062021-12-31025723062022-01-012022-12-31025723062022-12-3102572306ns15:EnglandWales2023-01-012023-12-3102572306ns14:PoundSterling2023-01-012023-12-3102572306ns10:Director12023-01-012023-12-3102572306ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3102572306ns10:SmallEntities2023-01-012023-12-3102572306ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-3102572306ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3102572306ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3102572306ns10:FullAccounts2023-01-012023-12-3102572306ns10:OrdinaryShareClass12023-01-012023-12-3102572306ns5:CurrentFinancialInstruments2023-12-3102572306ns5:CurrentFinancialInstruments2022-12-3102572306ns5:ShareCapital2023-12-3102572306ns5:ShareCapital2022-12-3102572306ns5:RetainedEarningsAccumulatedLosses2023-12-3102572306ns5:RetainedEarningsAccumulatedLosses2022-12-3102572306ns10:RegisteredOffice2023-01-012023-12-3102572306ns5:LandBuildings2022-12-3102572306ns5:PlantMachinery2022-12-3102572306ns5:FurnitureFittings2022-12-3102572306ns5:LandBuildings2023-01-012023-12-3102572306ns5:PlantMachinery2023-01-012023-12-3102572306ns5:FurnitureFittings2023-01-012023-12-3102572306ns5:LandBuildings2023-12-3102572306ns5:PlantMachinery2023-12-3102572306ns5:FurnitureFittings2023-12-3102572306ns5:LandBuildings2022-12-3102572306ns5:PlantMachinery2022-12-3102572306ns5:FurnitureFittings2022-12-3102572306ns5:CostValuation2022-12-3102572306ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3102572306ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3102572306ns10:OrdinaryShareClass12023-12-31
REGISTERED NUMBER: 02572306 (England and Wales)









Unaudited Financial Statements

for the Year Ended

31 December 2023

for

Vacuum Brazing Consultants Limited

Vacuum Brazing Consultants Limited (Registered number: 02572306)






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




Page

Balance Sheet 1

Notes to the Financial Statements 3


Vacuum Brazing Consultants Limited (Registered number: 02572306)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 378,347 364,646
Investments 5 1 1
378,348 364,647

CURRENT ASSETS
Stocks 820,035 855,886
Debtors 6 982,993 1,039,266
Cash at bank 303,631 397,569
2,106,659 2,292,721
CREDITORS
Amounts falling due within one year 7 898,174 1,071,947
NET CURRENT ASSETS 1,208,485 1,220,774
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,586,833

1,585,421

PROVISIONS FOR LIABILITIES 18,173 10,893
NET ASSETS 1,568,660 1,574,528

CAPITAL AND RESERVES
Called up share capital 9 1,000 1,000
Retained earnings 1,567,660 1,573,528
SHAREHOLDERS' FUNDS 1,568,660 1,574,528

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

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

Vacuum Brazing Consultants Limited (Registered number: 02572306)

Balance Sheet - continued
31 December 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 15 July 2024 and were signed on its behalf by:





D W Talbot - Director


Vacuum Brazing Consultants Limited (Registered number: 02572306)

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

1. COMPANY INFORMATION

Vacuum Brazing Consultants Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 02572306

Registered office: Unit 12 Pavilion Way
Castle Business Park
Loughborough
Leicestershire
LE11 5GW

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 UK and Republic of Ireland" and the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements have been prepared under the historical cost convention.


Preparation of consolidated financial statements
The financial statements contain information about Vacuum Brazing Consultants Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised on delivery.

Turnover from the supply of services represents the value of services provided to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable.

Vacuum Brazing Consultants Limited (Registered number: 02572306)

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

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Tangible fixed assets are stated at purchase cost together with any incidental expenses of acquisition, net of depreciation and any provision for impairment.

Depreciation is provided on all tangible assets, at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life as follows:

Freehold property2% Straight line
Plant and machinery20% Straight line
Fixtures and fittings10% & 33% Straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset after deducting estimated costs of disposal, if the asset were already at an age and in the condition expected at the end of its estimated useful life.

Freehold properties have been depreciated to a level where they have reached their estimated residual value. Unless there is a change in estimated residual value, no further depreciation will be charged.

The gain or loss arising on disposal of an asset is determined on the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.

Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to sell, which is equivalent to net realisable value. Cost is based on the purchase cost of stocks using the FIFO (first-in, first-out) method. Provision is made for obsolete and slow-moving items where appropriate.

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

Financial liabilities and assets and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit and loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

The following assets and liabilities are classified as basic financial instruments - trade debtors, other debtors, cash and bank balances and trade creditors

Trade debtors, cash and bank balances, trade creditors and other creditors balances are measured at the amortised cost equivalent to the undiscounted amount of cash or other consideration expected to be paid or received.

Foreign currency contracts are derivative financial instruments. As explained in the foreign currencies accounting policy they are measured at their fair value. However the fair value of the derivative is only recognised in the financial statements where the amount is material.


Vacuum Brazing Consultants Limited (Registered number: 02572306)

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

2. ACCOUNTING POLICIES - continued
Taxation
Current tax, including UK corporation tax is provided at amounts expected to be paid (or recovered) using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events that result in an obligation to pay more tax in the future or a right to pay less tax in the future have occurred at the balance sheet date. Timing differences are differences between the company's taxable profits and its results as stated in the financial statements that arise from the inclusion of gains and losses in tax assessments in periods different from those in which they are recognised in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that, on the basis of all available evidence, it can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date and are expected to apply to the reversal of the timing difference.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction.Exchange differences are recognised in the profit and loss account.

Pension costs
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the profit or loss in the period to which they relate.

Investments
Investments in subsidiaries are stated at cost less provision for impairment where necessary to reduce book value to recoverable amount.

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense.

Where material, the cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Vacuum Brazing Consultants Limited (Registered number: 02572306)

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

2. ACCOUNTING POLICIES - continued

Impairment of assets
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit and loss as described below.

Non financial assets
An asset is impaired when there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

Financial assets
For financial assets carried at cost less impairment, the impairment loss is the difference between the asset's carrying amount and the best estimate of the amount that would be received for the asset if it were sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had impairment not been recognised.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2022 - 22 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings Totals
£    £    £    £   
COST
At 1 January 2023 359,109 164,667 485,083 1,008,859
Additions 10,666 26,142 20,663 57,471
Disposals - - (112,495 ) (112,495 )
At 31 December 2023 369,775 190,809 393,251 953,835
DEPRECIATION
At 1 January 2023 80,728 136,226 427,259 644,213
Charge for year - 27,053 16,715 43,768
Eliminated on disposal - - (112,493 ) (112,493 )
At 31 December 2023 80,728 163,279 331,481 575,488
NET BOOK VALUE
At 31 December 2023 289,047 27,530 61,770 378,347
At 31 December 2022 278,381 28,441 57,824 364,646

Vacuum Brazing Consultants Limited (Registered number: 02572306)

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

5. FIXED ASSET INVESTMENTS
Shares in
group
undertaking
£   
COST OR VALUATION
At 1 January 2023
and 31 December 2023 1
NET BOOK VALUE
At 31 December 2023 1
At 31 December 2022 1


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 854,280 972,170
Other debtors 128,713 67,096
982,993 1,039,266

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 445,275 626,250
Taxation and social security 333,671 360,804
Other creditors 119,228 84,893
898,174 1,071,947

8. LEASING AGREEMENTS
The company has future operating lease commitments of £116,954 (2022: £95,033 ).

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,000 Ordinary £1 1,000 1,000

10. PARENT COMPANY

Vacuum Brazing Consultants Limited is a 100% owned subsidiary of VBC Group Limited, a company incorporated in England and Wales.