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
Vielo Sports Ltd
Company Information
for the year ended 31 December 2023
Directors
Ian Hughes
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
Vielo Sports Ltd
Statement of financial position
as at 31 December 2023
Intangible assets
49,074
5,814
Tangible assets
45,982
65,737
Inventories
227,822
280,968
Cash at bank and in hand
21,227
55,955
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)
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
Vielo Sports Ltd
Notes to the Accounts
for the year ended 31 December 2023
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
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 (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Amortisation is straight line across 4 years
4
Intangible fixed assets
Other
At 31 December 2023
57,714
At 31 December 2023
49,074
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
At 31 December 2023
104,485
27,066
16,645
148,196
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
At 31 December 2023
40,703
1,695
3,584
45,982
At 31 December 2022
58,018
2,575
5,144
65,737
Amounts falling due within one year
Trade debtors
(1,805)
15,087
Accrued income and prepayments
6,394
7,048
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
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).