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REGISTERED NUMBER: 05086320 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

VARLEY INSULATION PRODUCTS LIMITED

VARLEY INSULATION PRODUCTS LIMITED (REGISTERED NUMBER: 05086320)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


VARLEY INSULATION PRODUCTS LIMITED

COMPANY INFORMATION
for the Year Ended 31 March 2024







DIRECTORS: Mr G R Varley
Miss J M Varley





SECRETARY: Miss J M Varley





REGISTERED OFFICE: Blackpole Farm
Lewth Lane
Woodplumpton
Preston
Lancashire
PR4 0TD





REGISTERED NUMBER: 05086320 (England and Wales)





ACCOUNTANTS: James Todd & Co
Greenbank House
141 Adelphi Street
Preston
Lancashire
PR1 7BH

VARLEY INSULATION PRODUCTS LIMITED (REGISTERED NUMBER: 05086320)

BALANCE SHEET
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,142,634 751,522

CURRENT ASSETS
Stocks 345,522 462,770
Debtors 5 592,613 814,437
Cash at bank 1,786,569 2,193,588
2,724,704 3,470,795
CREDITORS
Amounts falling due within one year 6 399,548 651,949
NET CURRENT ASSETS 2,325,156 2,818,846
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,467,790

3,570,368

PROVISIONS FOR LIABILITIES 23,639 23,639
NET ASSETS 3,444,151 3,546,729

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 3,444,051 3,546,629
SHAREHOLDERS' FUNDS 3,444,151 3,546,729

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

VARLEY INSULATION PRODUCTS LIMITED (REGISTERED NUMBER: 05086320)

BALANCE SHEET - continued
31 March 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 August 2024 and were signed on its behalf by:





Mr G R Varley - Director


VARLEY INSULATION PRODUCTS LIMITED (REGISTERED NUMBER: 05086320)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024


1. STATUTORY INFORMATION

Varley Insulation Products 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 as modified by the revaluation of certain assets.

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.
Freehold property - 2% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 25% 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 12 ) .

VARLEY INSULATION PRODUCTS LIMITED (REGISTERED NUMBER: 05086320)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024


4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 April 2023 645,327 216,470 34,488
Additions 451,945 - 10,380
Disposals - - -
At 31 March 2024 1,097,272 216,470 44,868
DEPRECIATION
At 1 April 2023 103,541 135,425 12,736
Charge for year 21,945 20,264 3,213
Eliminated on disposal - - -
At 31 March 2024 125,486 155,689 15,949
NET BOOK VALUE
At 31 March 2024 971,786 60,781 28,919
At 31 March 2023 541,786 81,045 21,752

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2023 339,559 34,743 1,270,587
Additions - 5,412 467,737
Disposals - (2,412 ) (2,412 )
At 31 March 2024 339,559 37,743 1,735,912
DEPRECIATION
At 1 April 2023 238,370 28,993 519,065
Charge for year 25,296 4,701 75,419
Eliminated on disposal - (1,206 ) (1,206 )
At 31 March 2024 263,666 32,488 593,278
NET BOOK VALUE
At 31 March 2024 75,893 5,255 1,142,634
At 31 March 2023 101,189 5,750 751,522

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 569,244 789,420
Other debtors 23,369 25,017
592,613 814,437

VARLEY INSULATION PRODUCTS LIMITED (REGISTERED NUMBER: 05086320)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 202 1,005
Trade creditors 353,522 499,038
Taxation and social security 31,473 138,953
Other creditors 14,351 12,953
399,548 651,949

7. ULTIMATE CONTROLLING PARTY

The controlling party is VIP Holdings Limited.