Company registration number 00509149 (England and Wales)
VENDAIR (LONDON) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
PAGES FOR FILING WITH REGISTRAR
VENDAIR (LONDON) LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
VENDAIR (LONDON) LIMITED (REGISTERED NUMBER: 00509149)
BALANCE SHEET
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
95,344
98,106
Current assets
Stocks
1
1
Debtors
4
725
895
Cash at bank and in hand
78,503
71,597
79,229
72,493
Creditors: amounts falling due within one year
5
(3,010)
(2,973)
Net current assets
76,219
69,520
Net assets
171,563
167,626
Capital and reserves
Called up share capital
6
1,000
1,000
Profit and loss reserves
170,563
166,626
Total equity
171,563
167,626
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 19 August 2024
Mr James Longmoor
Director
VENDAIR (LONDON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
- 2 -
1
Accounting policies
Company information
Vendair (London) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Biggin Hill Airport, Biggin Hill, Kent, TN16 3YN.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 105 'The financial Reporting Standard applicable to the Micro-entities Regime' and the requirements of 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 are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of consideration received or receivable for the goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates. The following criteria must also be met before turnover is recognised.
Turnover for the sale of goods is recognised when all of the following conditions are met:
- The company has transferred the significant risks and rewards of ownership to the buyer;
- the amount of turnover can be recognised reliably and;
- It is probable that the company will receive the consideration due under the transaction.
Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
- The amount of turnover can be measured reliably
- It is probable that the company will receive the consideration due under the contract
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings
2% Reducing Balance
Plant and equipment
10% Reducing Balance
Computers
25% Straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
VENDAIR (LONDON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
1
Accounting policies
(Continued)
- 3 -
1.4
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.
1.5
Taxation
The tax expense represents the sum of the tax currently payable.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
2
2
3
Tangible fixed assets
Freehold land and buildings
Plant and equipment
Computers
Total
£
£
£
£
Cost
At 1 June 2023
159,100
54,229
2,434
215,763
Additions
340
340
At 31 May 2024
159,100
54,569
2,434
216,103
Depreciation and impairment
At 1 June 2023
70,729
46,871
57
117,657
Depreciation charged in the year
1,767
741
594
3,102
At 31 May 2024
72,496
47,612
651
120,759
Carrying amount
At 31 May 2024
86,604
6,957
1,783
95,344
At 31 May 2023
88,371
7,358
2,377
98,106
Included within the net book value of land and buildings above is £92,015 (2020 - £93,893) in respect of freehold land and buildings.
VENDAIR (LONDON) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 4 -
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
447
346
Other debtors
278
549
725
895
5
Creditors: amounts falling due within one year
2024
2023
£
£
Taxation and social security
1,796
1,804
Other creditors
1,214
1,169
3,010
2,973
6
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
of £1 each
1,000
1,000
1,000
1,000