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REGISTERED NUMBER: 06736445 (England and Wales)















VFM Coatings Limited

Unaudited Financial Statements

For The Year Ended 30 November 2023






VFM Coatings Limited (Registered number: 06736445)






Contents of the Financial Statements
For The Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Report of the Accountants 7

VFM Coatings Limited

Company Information
For The Year Ended 30 November 2023







DIRECTOR: R J Slater





REGISTERED OFFICE: Walkley Mills
Spen Vale Street
Heckwondwike
West Yorkshire
WF16 0PS





REGISTERED NUMBER: 06736445 (England and Wales)





ACCOUNTANTS: Roddis Taylor Robinson
Chartered Accountants
Unit 6, Acorn Business Park
Woodseats Close
Sheffield
South Yorkshire
S8 0TB

VFM Coatings Limited (Registered number: 06736445)

Balance Sheet
30 November 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 6,579 11,411
6,579 11,411

CURRENT ASSETS
Stocks 496,907 504,626
Debtors 6 808,728 470,151
1,305,635 974,777
CREDITORS
Amounts falling due within one year 7 1,231,783 902,787
NET CURRENT ASSETS 73,852 71,990
TOTAL ASSETS LESS CURRENT
LIABILITIES

80,431

83,401

CREDITORS
Amounts falling due after more than one
year

8

17,370

49,071
NET ASSETS 63,061 34,330

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 62,961 34,230
SHAREHOLDERS' FUNDS 63,061 34,330

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

VFM Coatings Limited (Registered number: 06736445)

Balance Sheet - continued
30 November 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 director and authorised for issue on 28 August 2024 and were signed by:





R J Slater - Director


VFM Coatings Limited (Registered number: 06736445)

Notes to the Financial Statements
For The Year Ended 30 November 2023

1. STATUTORY INFORMATION

VFM Coatings 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.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% straight line
Fixtures and fittings - 15% straight line
Motor vehicles - 25% straight line

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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 taken into account in arriving at the operating result.

VFM Coatings Limited (Registered number: 06736445)

Notes to the Financial Statements - continued
For The Year Ended 30 November 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the leases.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2022 - 15 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 December 2022
and 30 November 2023 20,000
AMORTISATION
At 1 December 2022
and 30 November 2023 20,000
NET BOOK VALUE
At 30 November 2023 -
At 30 November 2022 -

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 December 2022
and 30 November 2023 76,516 16,796 1,500 94,812
DEPRECIATION
At 1 December 2022 72,854 9,047 1,500 83,401
Charge for year 2,463 2,369 - 4,832
At 30 November 2023 75,317 11,416 1,500 88,233
NET BOOK VALUE
At 30 November 2023 1,199 5,380 - 6,579
At 30 November 2022 3,662 7,749 - 11,411

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 599,432 287,454
Other debtors 174,050 139,286
Deferred tax asset 35,246 43,411
808,728 470,151

VFM Coatings Limited (Registered number: 06736445)

Notes to the Financial Statements - continued
For The Year Ended 30 November 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 119,650 121,027
Invoice finance facility 492,081 238,180
Trade creditors 484,328 489,677
Taxation and social security 93,845 34,142
Other creditors 41,879 19,761
1,231,783 902,787

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 17,370 49,071

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Invoice finance facility 492,081 238,180
Bank overdraft 87,949 84,445
580,030 322,625

The invoice finance facility is secured by way of fixed and floating charges over the undertaking and all property and assets present and future of the company together with a personal guarantee from Mr R Slater.

The bank overdraft is secured by way of a fixed and floating charge over all assets of the company.

VFM Coatings Limited

Report of the Accountants to the Director of
VFM Coatings Limited

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 30 November 2023 set out on pages three to eight and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Our report may not be relied upon by any person for any other purpose whatsoever.

Roddis Taylor Robinson neither owes nor accepts any duty to any other party and shall not be liable for any loss, damage or expenses of whatsoever nature which is caused by their reliance on these accounts.






Roddis Taylor Robinson
Chartered Accountants
Unit 6, Acorn Business Park
Woodseats Close
Sheffield
South Yorkshire
S8 0TB


28 August 2024