Registered Number:06618493 |
For the year ended 31 December 2023
England and Wales
Unaudited Financial Statements
For the year ended 31 December 2023
Vex Limited
Contents Page
1
Statement of Financial Position
2 to 6
Notes to the Financial Statements
Vex Limited
Statement of Financial Position
2022
2023
Property, plant and equipment |
6,695
5,582
2
510
-
3
6,695
6,092
3,950
18,450
4
Trade and other receivables |
230,877
233,917
5
164,005
Cash and cash equivalents |
162,887
415,254
398,832
Trade and other payables: amounts falling due within one |
year |
(69,128)
(73,549)
6
329,704
341,705
Net current assets
Total assets less current liabilities |
348,400
335,796
Trade and other payables: amounts falling due after more |
than one year |
(39,442)
(16,122)
7
(471)
(209)
Provisions for liabilities |
331,807
Net assets
296,145
2,000
2,000
329,807
294,145
331,807
296,145
Shareholders' funds
For the 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 members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006 |
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
b) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of |
each financial year and of its profit or loss for each financial year in accordance with the requirements of Section |
394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial |
statements, so far as applicable to the company. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. |
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For the year ended 31 December 2023
Vex Limited
Statement of Financial Position Continued
These financial statements were approved and authorised for issue by the Board on 23 September 2024 and were signed by: |
The notes form part of these financial statements |
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For the year ended 31 December 2023
Vex Limited
Notes to the Financial Statements
Statutory Information
Vex Limited is a private limited company, limited by shares, domiciled in England and Wales, registration number |
06618493. |
Kingsway
St. Asaph Avenue
Kinmel Bay
Rhyl
LL18 5HB
The presentation currency is £ sterling. |
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial |
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the |
Companies Act 2006. The financial statements have been prepared under the historical costs convention as |
modified by the revaluation of certain assets. |
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts. |
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: |
Plant and machinery
Motor vehicles
Fixtures and fittings
Inventories
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. |
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
Hire purchase and leasing commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term. The finance element of the rental payment is charged to the profit and loss account on a method giving a constant rate of return on the balance outstanding. |
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For the year ended 31 December 2023
Vex Limited
Notes to the Financial Statements Continued
2. Property, plant and equipment |
Motor vehicles
55,552
-
48,295
7,257
1,500
1,500
-
-
7,257
48,295
1,500
57,052
Provision for depreciation and impairment |
49,970
-
44,792
5,178
Charge for year
387
-
3
384
50,357
-
44,795
5,562
1,695
3,500
1,500
6,695
2,079
3,503
-
5,582
3. Investments held as fixed assets |
Shares in group and participating interests |
510
510
(510)
(510)
-
-
-
-
510
510
2022
2023
18,450
3,950
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For the year ended 31 December 2023
Vex Limited
Notes to the Financial Statements Continued
5. Trade and other receivables |
2022
2023
204,933
178,096
Amounts owed by directors |
27,085
48,285
Taxation and social security |
1,899
4,496
230,877
233,917
The debtors above include the following amounts falling due after more than one year: |
21,098
28,306
6. Trade and other payables: amounts falling due within one year |
2022
2023
16,454
21,467
23,630
20,767
Taxation and social security |
29,665
23,094
Accruals and deferred income |
3,800
3,800
73,549
69,128
7. Trade and other payables: amounts falling due after more than one year |
2022
2023
15,757
32,621
365
6,821
16,122
39,442
8. Directors advances and guarantees |
Loaned
Repaid
Mr B Hingeley
Directors Loan
13,543
24,143
38,313
48,913
13,543
24,143
38,313
48,913
Mrs J Hingeley
Directors Loan
13,543
24,143
38,313
48,913
13,543
24,143
38,313
48,913
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For the year ended 31 December 2023
Vex Limited
Notes to the Financial Statements Continued
9. Average number of persons employed |
During the year the average number of employees was 4 (2022 : 4)
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