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REGISTERED NUMBER: 03978078 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

VETROSEAL LIMITED

VETROSEAL LIMITED (REGISTERED NUMBER: 03978078)

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


VETROSEAL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 November 2023







DIRECTOR: E Falisi





SECRETARY: Mrs C A Mitchell





REGISTERED OFFICE: 11 Monoux Road
Wootton
Bedford
Bedfordshire
MK43 9JR





REGISTERED NUMBER: 03978078 (England and Wales)





ACCOUNTANTS: GB Accounting Solutions Limited
Building 115
Bedford Technology Park
Thurleigh
Bedford
Bedfordshire
MK44 2YA

VETROSEAL LIMITED (REGISTERED NUMBER: 03978078)

BALANCE SHEET
30 November 2023

30.11.23 30.11.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 1,048,893 1,148,564

CURRENT ASSETS
Stocks 45,000 45,000
Debtors 5 2,094,754 2,107,806
Cash at bank 5,823 64,732
2,145,577 2,217,538
CREDITORS
Amounts falling due within one year 6 (1,120,781 ) (1,266,773 )
NET CURRENT ASSETS 1,024,796 950,765
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,073,689

2,099,329

CREDITORS
Amounts falling due after more than one year 7 (24,435 ) (112,686 )

PROVISIONS FOR LIABILITIES (217,462 ) (176,741 )
NET ASSETS 1,831,792 1,809,902

CAPITAL AND RESERVES
Called up share capital 70,600 70,600
Retained earnings 8 1,761,192 1,739,302
SHAREHOLDERS' FUNDS 1,831,792 1,809,902

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.

VETROSEAL LIMITED (REGISTERED NUMBER: 03978078)

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 9 July 2024 and were signed by:





E Falisi - Director


VETROSEAL LIMITED (REGISTERED NUMBER: 03978078)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 November 2023


1. STATUTORY INFORMATION

Vetroseal 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 - 15% on reducing balance
Computers, fixtures and office equipment - 25% on reducing balance
Motor vehicles - 25% on reducing balance

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.

VETROSEAL LIMITED (REGISTERED NUMBER: 03978078)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 November 2023


2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 50 (2022 - 47 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 December 2022 2,904,687
Additions 60,796
At 30 November 2023 2,965,483
DEPRECIATION
At 1 December 2022 1,756,123
Charge for year 160,467
At 30 November 2023 1,916,590
NET BOOK VALUE
At 30 November 2023 1,048,893
At 30 November 2022 1,148,564

VETROSEAL LIMITED (REGISTERED NUMBER: 03978078)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 November 2023


4. TANGIBLE FIXED ASSETS - continued

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

Plant and
machinery
etc
£   
COST
At 1 December 2022 1,035,204
Transfer to ownership (41,200 )
At 30 November 2023 994,004
DEPRECIATION
At 1 December 2022 406,511
Charge for year 71,981
Transfer to ownership (28,166 )
At 30 November 2023 450,326
NET BOOK VALUE
At 30 November 2023 543,678
At 30 November 2022 628,693

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade debtors 1,184,472 1,163,979
Other debtors 910,282 943,827
2,094,754 2,107,806

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans and overdrafts 310,776 231,450
Hire purchase contracts 118,247 179,178
Trade creditors 407,639 516,115
Taxation and social security 207,926 263,244
Other creditors 76,193 76,786
1,120,781 1,266,773

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.23 30.11.22
£    £   
Hire purchase contracts 24,435 112,686

VETROSEAL LIMITED (REGISTERED NUMBER: 03978078)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 November 2023


8. RESERVES
Retained
earnings
£   

At 1 December 2022 1,739,302
Profit for the year 191,890
Dividends (170,000 )
At 30 November 2023 1,761,192

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 November 2023 and 30 November 2022:

30.11.23 30.11.22
£    £   
E Falisi
Balance outstanding at start of year 117,087 98,051
Amounts advanced 85,696 117,087
Amounts repaid (117,087 ) (98,051 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 85,696 117,087

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party of the company is Mr E. Falisi by virtue of the fact that he owns 30% of the issued share capital in Vetroseal Limited and owns 100% of the issued share capital of Vetroglaze Limited, a company that owns the remaining 70% of the issued share capital in Vetroseal Limited.