4 false false false false false false false false false false true false false false false false false No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 12570649 2023-04-01 2023-12-31 12570649 2023-12-31 12570649 2023-03-31 12570649 2022-01-01 2023-03-31 12570649 2023-03-31 12570649 2021-12-31 12570649 bus:OrdinaryShareClass1 2023-04-01 2023-12-31 12570649 bus:Director1 2023-04-01 2023-12-31 12570649 core:WithinOneYear 2023-12-31 12570649 core:WithinOneYear 2023-03-31 12570649 core:AfterOneYear 2023-12-31 12570649 core:AfterOneYear 2023-03-31 12570649 core:ShareCapital 2023-12-31 12570649 core:ShareCapital 2023-03-31 12570649 core:RetainedEarningsAccumulatedLosses 2023-12-31 12570649 core:RetainedEarningsAccumulatedLosses 2023-03-31 12570649 bus:SmallEntities 2023-04-01 2023-12-31 12570649 bus:AuditExemptWithAccountantsReport 2023-04-01 2023-12-31 12570649 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2023-12-31 12570649 bus:PrivateLimitedCompanyLtd 2023-04-01 2023-12-31 12570649 bus:FullAccounts 2023-04-01 2023-12-31 12570649 bus:OrdinaryShareClass1 2023-12-31 12570649 bus:OrdinaryShareClass1 2023-03-31
COMPANY REGISTRATION NUMBER: 12570649
VW Investments Ltd
Filleted Unaudited Financial Statements
31 December 2023
VW Investments Ltd
Statement of Financial Position
31 December 2023
31 Dec 23
31 Mar 23
Note
£
£
£
£
Current assets
Stocks
716,667
702,258
Debtors
5
121,248
76,838
Cash at bank and in hand
142,773
536,870
----------
-------------
980,688
1,315,966
Creditors: amounts falling due within one year
6
224,324
584,148
----------
-------------
Net current assets
756,364
731,818
----------
----------
Total assets less current liabilities
756,364
731,818
Creditors: amounts falling due after more than one year
7
260,772
260,772
----------
----------
Net assets
495,592
471,046
----------
----------
Capital and reserves
Called up share capital
8
2
2
Profit and loss account
495,590
471,044
----------
----------
Shareholders funds
495,592
471,046
----------
----------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the period ending 31st December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
VW Investments Ltd
Statement of Financial Position (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 6 September 2024 , and are signed on behalf of the board by:
Mr P Leonard
Director
Company registration number: 12570649
VW Investments Ltd
Notes to the Financial Statements
Period from 1st April 2023 to 31st December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Emstrey House North, Shrewsbury Business Park, Shrewsbury, Shropshire, SY2 6LG.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Work-in-progress
Work-in-progress is computed by reference to the costs incurred to date and the anticipated future costs to be incurred to complete the project.
Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes a party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, which the transaction is measured at the present value of the future receipts discounted at market rate of interest. Financial assets classified as receivable within one year are not amortised. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangement entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payment discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 4 (2023: 4 ).
5. Debtors
31 Dec 23
31 Mar 23
£
£
Trade debtors
56,653
60,236
Other debtors
64,595
16,602
----------
---------
121,248
76,838
----------
---------
6. Creditors: amounts falling due within one year
31 Dec 23
31 Mar 23
£
£
Trade creditors
69,352
276,339
Social security and other taxes
73
83,825
Other creditors
154,899
223,984
----------
----------
224,324
584,148
----------
----------
7. Creditors: amounts falling due after more than one year
31 Dec 23
31 Mar 23
£
£
Other creditors
260,772
260,772
----------
----------
8. Called up share capital
Issued, called up and fully paid
31 Dec 23
31 Mar 23
No.
£
No.
£
Ordinary shares of £ 1 each
2
2
2
2
----
----
----
----
9. Related party transactions
Included within creditors due more than one year is a loan from the controlling party of £260,772 (2023 - £260,772) The interest free loan has no fixed repayment terms.