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REGISTERED NUMBER: 03481422 (England and Wales)













FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

VETRO TOOLING LIMITED

VETRO TOOLING LIMITED (REGISTERED NUMBER: 03481422)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


VETRO TOOLING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: D J C Lithauer
Ms H L Lithauer
D J Brewer
A J Lithauer





REGISTERED OFFICE: Unit 10 Westmayne Industrial Park
Bramston Way
Laindon
Basildon
Essex
SS15 6TP





REGISTERED NUMBER: 03481422 (England and Wales)





ACCOUNTANTS: Connah Goldsworthy
Chartered Certified Accountants
12 Station Court
Station Approach
Wickford
Essex
SS11 7AT

VETRO TOOLING LIMITED (REGISTERED NUMBER: 03481422)

BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 277,262 208,579

CURRENT ASSETS
Stocks 660,120 403,263
Debtors 5 292,336 241,862
Cash at bank and in hand 80,396 188,527
1,032,852 833,652
CREDITORS
Amounts falling due within one year 6 695,157 469,691
NET CURRENT ASSETS 337,695 363,961
TOTAL ASSETS LESS CURRENT
LIABILITIES

614,957

572,540

CREDITORS
Amounts falling due after more than one
year

7

117,216

114,762
NET ASSETS 497,741 457,778

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 497,641 457,678
SHAREHOLDERS' FUNDS 497,741 457,778

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

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 directors acknowledge their responsibilities for:
(a)ensuring that the company keeps 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 Sections 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.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 August 2024 and were signed on its behalf by:





D J C Lithauer - Director


VETRO TOOLING LIMITED (REGISTERED NUMBER: 03481422)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Vetro Tooling Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 10 ) .

VETRO TOOLING LIMITED (REGISTERED NUMBER: 03481422)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 251,631 41,028 156,890 16,682 466,231
Additions - 5,972 108,180 - 114,152
At 31 December 2023 251,631 47,000 265,070 16,682 580,383
DEPRECIATION
At 1 January 2023 162,234 16,228 64,764 14,426 257,652
Charge for year 17,912 4,757 21,600 1,200 45,469
At 31 December 2023 180,146 20,985 86,364 15,626 303,121
NET BOOK VALUE
At 31 December 2023 71,485 26,015 178,706 1,056 277,262
At 31 December 2022 89,397 24,800 92,126 2,256 208,579

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 January 2023 38,500 32,332 145,704 216,536
Additions - - 108,180 108,180
At 31 December 2023 38,500 32,332 253,884 324,716
DEPRECIATION
At 1 January 2023 25,724 12,641 118,593 156,958
Charge for year 10,047 3,057 21,600 34,704
At 31 December 2023 35,771 15,698 140,193 191,662
NET BOOK VALUE
At 31 December 2023 2,729 16,634 113,691 133,054
At 31 December 2022 12,776 19,691 27,111 59,578

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 242,658 234,246
Other debtors 49,678 7,616
292,336 241,862

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 271,516 10,860
Hire purchase contracts (see note 8) 62,892 51,964
Trade creditors 281,703 255,832
Amounts owed to participating interests - 4,497
Taxation and social security 60,039 127,531
Other creditors 19,007 19,007
695,157 469,691

VETRO TOOLING LIMITED (REGISTERED NUMBER: 03481422)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans - 23,307
Hire purchase contracts (see note 8) 117,216 91,455
117,216 114,762

8. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

31.12.23 31.12.22
£    £   
Gross obligations repayable:
Within one year 69,684 58,756
Between one and five years 136,993 102,771
206,677 161,527

Finance charges repayable:
Within one year 6,792 6,792
Between one and five years 19,777 11,316
26,569 18,108

Net obligations repayable:
Within one year 62,892 51,964
Between one and five years 117,216 91,455
180,108 143,419

9. ULTIMATE CONTROLLING PARTY

The controlling party is D J C Lithauer.

The ultimate controlling party is D J C Lithauer.