Vitruvius Limited
Unaudited Financial Statements
For the year ended 31 December 2023
Pages for Filing with Registrar
Company Registration No. 01857486 (England and Wales)
Vitruvius Limited
Company Information
Directors
V. M. Haigh
D. Haigh
Secretary
V. M. Haigh
Company number
01857486
Registered office
Betchworth House
57-65 Station Road
Redhill
Surrey
RH1 1DL
Accountants
Moore Kingston Smith LLP
Betchworth House
57-65 Station Road
Redhill
Surrey
RH1 1DL
Vitruvius Limited
Balance Sheet
As at 31 December 2023
Page 1
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
100,378
73,214
Current assets
Stock and work in progress
133,458
177,748
Debtors
4
151,994
93,675
Cash at bank and in hand
141,177
78,786
426,629
350,209
Creditors: amounts falling due within one year
5
(278,283)
(239,540)
Net current assets
148,346
110,669
Total assets less current liabilities
248,724
183,883
Creditors: amounts falling due after more than one year
6
(18,333)
(38,909)
Provisions for liabilities
7
(24,552)
(13,408)
Net assets
205,839
131,566
Capital and reserves
Called up share capital
8
174
174
Profit and loss reserves
205,665
131,392
Total equity
205,839
131,566

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.

Vitruvius Limited
Balance Sheet (Continued)
As at 31 December 2023
Page 2
The financial statements were approved by the board of directors and authorised for issue on 18 September 2024 and are signed on its behalf by:
V. M. Haigh
Director
Company Registration No. 01857486
Vitruvius Limited
Notes to the Financial Statements
For the year ended 31 December 2023
Page 3
1
Accounting policies
Company information

Vitruvius Limited is a private company limited by shares incorporated in England and Wales. The registered office is Betchworth House, 57-65 Station Road, Redhill, Surrey, RH1 1DL.

1.1
Accounting convention

These financial statements have been prepared in accordance with Section 1A of FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover
Turnover represents the invoiced value of goods and services provided net of Value Added Tax.
1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Plant and machinery - Main Pool
Straight line over 20 years
Plant and machinery - Bridge Saw
Straight line over 10 years
Fixtures and fittings
Straight line over 4 years
Computer and equipment
Straight line over 4 years
Motor vehicles
Straight line over 4 years

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Stock and work in progress

Stock and work in progress is valued at the lower of cost and net realisable value.

1.5
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Financial instruments

The company only has financial instruments classified as basic and measured at amortised cost. The company has no financial instruments classified as 'other' or financial instruments measured at fair value.

Vitruvius Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2023
1
Accounting policies
(Continued)
Page 4
1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.11
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to expenditure on a straight line basis over the term of the relevant lease.

Vitruvius Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2023
Page 5
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
9
9
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2023
250,377
Additions
41,605
At 31 December 2023
291,982
Depreciation and impairment
At 1 January 2023
177,163
Depreciation charged in the year
14,441
At 31 December 2023
191,604
Carrying amount
At 31 December 2023
100,378
At 31 December 2022
73,214
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
147,176
90,325
Other debtors
4,818
3,350
151,994
93,675
Vitruvius Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2023
Page 6
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
10,000
10,000
Trade creditors
87,398
91,822
Corporation tax
14,881
5,493
Other taxation and social security
16,924
16,439
Other creditors
9,430
15,338
Accruals and deferred income
139,650
100,448
278,283
239,540

 

6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
18,333
28,333
Other creditors
-
0
10,576
18,333
38,909
7
Provisions for liabilities
2023
2022
£
£
Deferred tax liabilities
24,552
13,408
8
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
174
174
174
174
9
Related party transactions

During the year the company paid rent of £23,000 (2022: £23,000) to Haigh Property, a property business controlled by Director Ms V. M. Haigh, on an arm's length basis.

 

At the year end £nil (2022: £9,776) was due to Ms V. M. Haigh, a director of the company.

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