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Registered number: NI682985
Velocheese Ltd
Unaudited Financial Statements
For The Year Ended 31 October 2023
Proactive Chartered Accountants Limited
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: NI682985
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 44,229 45,818
44,229 45,818
CURRENT ASSETS
Debtors 5 2,069 5,790
Cash at bank and in hand 3,459 6,057
5,528 11,847
Creditors: Amounts Falling Due Within One Year 6 (68,300 ) (58,454 )
NET CURRENT ASSETS (LIABILITIES) (62,772 ) (46,607 )
TOTAL ASSETS LESS CURRENT LIABILITIES (18,543 ) (789 )
NET LIABILITIES (18,543 ) (789 )
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account (18,643 ) (889 )
SHAREHOLDERS' FUNDS (18,543) (789)
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Davide Tani
Director
06/09/2024
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Velocheese Ltd is a private company, limited by shares, incorporated in Northern Ireland, registered number NI682985 . The registered office is 1 Barnett's Chase, Belfast, BT5 7BF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% Straight Line
Fixtures & Fittings 33% Straight Line
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: 1)
1 1
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Total
£ £ £
Cost
As at 1 November 2022 33,790 12,028 45,818
Additions 772 16,446 17,218
As at 31 October 2023 34,562 28,474 63,036
Depreciation
As at 1 November 2022 - - -
Provided during the period 6,912 11,895 18,807
As at 31 October 2023 6,912 11,895 18,807
Net Book Value
As at 31 October 2023 27,650 16,579 44,229
As at 1 November 2022 33,790 12,028 45,818
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 1,143 4,198
Other debtors 926 1,592
2,069 5,790
Page 2
Page 3
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 748 4,328
Other creditors 67,552 54,126
68,300 58,454
7. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
Page 3