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REGISTERED NUMBER: 02881894 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Vertical Technology Limited

Vertical Technology Limited (Registered number: 02881894)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Vertical Technology Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: S Lambden
C Flewitt
K J Skipper





REGISTERED OFFICE: Unit 15, The Wren Centre
Westbourne Road
Emsworth
Hampshire
PO10 7SU





REGISTERED NUMBER: 02881894 (England and Wales)





ACCOUNTANTS: Creighton Accountants Ltd
25a Down End Road
Portchester
Fareham
Hampshire
PO16 8RG

Vertical Technology Limited (Registered number: 02881894)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 64,475 26,361

CURRENT ASSETS
Debtors 5 712,876 276,435
Cash at bank and in hand 524,936 362,888
1,237,812 639,323
CREDITORS
Amounts falling due within one year 6 414,030 131,229
NET CURRENT ASSETS 823,782 508,094
TOTAL ASSETS LESS CURRENT
LIABILITIES

888,257

534,455

CREDITORS
Amounts falling due after more than one
year

7

-

731
NET ASSETS 888,257 533,724

CAPITAL AND RESERVES
Called up share capital 60 60
Other reserves 40 40
Retained earnings 888,157 533,624
SHAREHOLDERS' FUNDS 888,257 533,724

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.

Vertical Technology Limited (Registered number: 02881894)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 August 2024 and were signed on its behalf by:





S Lambden - Director


Vertical Technology Limited (Registered number: 02881894)

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

1. STATUTORY INFORMATION

Vertical Technology 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Vertical Technology Limited (Registered number: 02881894)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 10 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 338,856
Additions 78,152
Disposals (17,897 )
Transfer to ownership (21,398 )
At 31 December 2023 377,713
DEPRECIATION
At 1 January 2023 312,495
Charge for year 40,038
Eliminated on disposal (17,897 )
Transfer to ownership (21,398 )
At 31 December 2023 313,238
NET BOOK VALUE
At 31 December 2023 64,475
At 31 December 2022 26,361

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:

Plant and
machinery
etc
£   
COST
At 1 January 2023 21,398
Transfer to ownership (21,398 )
At 31 December 2023 -
DEPRECIATION
At 1 January 2023 21,398
Transfer to ownership (21,398 )
At 31 December 2023 -
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

Vertical Technology Limited (Registered number: 02881894)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 606,334 219,442
Other debtors 106,542 56,993
712,876 276,435

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 401,550 93,519
Taxation and social security 591 37,710
Other creditors 11,889 -
414,030 131,229

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans - 731