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Company Registration No. 7338171 (England and Wales)
Vielo Sports Ltd Unaudited accounts for the year ended 31 December 2023
Vielo Sports Ltd Unaudited accounts Contents
Page
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Vielo Sports Ltd Company Information for the year ended 31 December 2023
Directors
Ian Hughes Trevor Hughes
Secretary
Trevor Hughes
Company Number
7338171 (England and Wales)
Registered Office
10 Keel Row The Watermark Gateshead Tyne And Wear NE11 9SZ UK
Accountants
JBC Management Solutions Ltd 5 Dene Park Ponteland Newcastle upon Tyne Northumberland NE20 9AH
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Vielo Sports Ltd Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
49,074 
5,814 
Tangible assets
45,982 
65,737 
95,056 
71,551 
Current assets
Inventories
227,822 
280,968 
Debtors
4,589 
22,135 
Cash at bank and in hand
21,227 
55,955 
253,638 
359,058 
Creditors: amounts falling due within one year
(192,278)
(161,004)
Net current assets
61,360 
198,054 
Total assets less current liabilities
156,416 
269,605 
Creditors: amounts falling due after more than one year
(107,665)
(144,700)
Net assets
48,751 
124,905 
Capital and reserves
Called up share capital
482,231 
482,231 
Share premium
129,442 
129,442 
Profit and loss account
(562,922)
(486,768)
Shareholders' funds
48,751 
124,905 
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 13 September 2024 and were signed on its behalf by
Trevor Hughes Director Company Registration No. 7338171
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Vielo Sports Ltd Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
Vielo Sports Ltd is a private company, limited by shares, registered in England and Wales, registration number 7338171. The registered office is 10 Keel Row, The Watermark, Gateshead, Tyne And Wear, NE11 9SZ, UK.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
Straight line depreciation across 4 years
Fixtures & fittings
Straight line depreciation across 4 years
Computer equipment
Straight line depreciation across 4 years
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation. Amortisation is straight line across 4 years
4
Intangible fixed assets
Other 
£ 
Cost
At 1 January 2023
11,574 
Additions
46,140 
At 31 December 2023
57,714 
Amortisation
At 1 January 2023
5,760 
Charge for the year
2,880 
At 31 December 2023
8,640 
Net book value
At 31 December 2023
49,074 
At 31 December 2022
5,814 
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Vielo Sports Ltd Notes to the Accounts for the year ended 31 December 2023
5
Tangible fixed assets
Plant & machinery 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 January 2023
104,485 
26,874 
16,645 
148,004 
Additions
- 
192 
- 
192 
At 31 December 2023
104,485 
27,066 
16,645 
148,196 
Depreciation
At 1 January 2023
46,467 
24,299 
11,501 
82,267 
Charge for the year
17,315 
1,072 
1,560 
19,947 
At 31 December 2023
63,782 
25,371 
13,061 
102,214 
Net book value
At 31 December 2023
40,703 
1,695 
3,584 
45,982 
At 31 December 2022
58,018 
2,575 
5,144 
65,737 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
(1,805)
15,087 
Accrued income and prepayments
6,394 
7,048 
4,589 
22,135 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Trade creditors
166,935 
116,248 
Taxes and social security
25,299 
44,712 
Loans from directors
44 
44 
192,278 
161,004 
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
107,665 
144,700 
9
Average number of employees
During the year the average number of employees was 4 (2022: 4).
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