2023-01-01 06618493 2023-12-31 06618493 2023-01-01 2023-12-31 06618493 2022-12-31 06618493 2022-01-01 2022-12-31 06618493 uk-core:WithinOneYear 2022-12-31 06618493 uk-core:WithinOneYear 2023-12-31 06618493 uk-core:AfterOneYear 2022-12-31 06618493 uk-core:AfterOneYear 2023-12-31 06618493 uk-core:ShareCapital 2023-12-31 06618493 uk-core:ShareCapital 2022-12-31 06618493 uk-core:RetainedEarningsAccumulatedLosses 2023-12-31 06618493 uk-core:RetainedEarningsAccumulatedLosses 2022-12-31 06618493 uk-bus:Director1 2023-01-01 2023-12-31 06618493 uk-core:PlantMachinery 2023-01-01 2023-12-31 06618493 uk-core:CommercialMotorVehicles 2023-01-01 2023-12-31 06618493 uk-core:OfficeEquipment 2023-01-01 2023-12-31 06618493 uk-core:OfficeEquipment 2022-12-31 06618493 uk-core:CommercialMotorVehicles 2022-12-31 06618493 uk-core:PlantMachinery 2022-12-31 06618493 uk-core:PlantMachinery 2023-12-31 06618493 uk-core:CommercialMotorVehicles 2023-12-31 06618493 uk-core:OfficeEquipment 2023-12-31 06618493 uk-core:CostValuation 2022-12-31 06618493 uk-core:CostValuation uk-core:Non-currentFinancialInstruments 2022-12-31 06618493 uk-core:DisposalsRepaymentsInvestments 2023-12-31 06618493 uk-core:DisposalsRepaymentsInvestments uk-core:Non-currentFinancialInstruments 2023-12-31 06618493 uk-core:CostValuation uk-core:Non-currentFinancialInstruments 2023-12-31 06618493 uk-core:CostValuation 2023-12-31 06618493 uk-core:Non-currentFinancialInstruments 2023-12-31 06618493 uk-core:Non-currentFinancialInstruments 2022-12-31 06618493 uk-core:WithinOneYear 2023-12-31 06618493 uk-core:WithinOneYear 2022-12-31 06618493 uk-core:AfterOneYear uk-core:Secured 2023-12-31 06618493 uk-core:AfterOneYear uk-core:Secured 2022-12-31 06618493 2 uk-bus:Director1 2023-01-01 2023-12-31 06618493 2 uk-bus:Director1 2023-12-31 06618493 2 uk-bus:Director1 2022-12-31 06618493 3 uk-bus:Director2 2023-01-01 2023-12-31 06618493 3 uk-bus:Director2 2023-12-31 06618493 3 uk-bus:Director2 2022-12-31 iso4217:GBP xbrli:pure 06618493 uk-bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 06618493 uk-bus:FRS102 2023-01-01 2023-12-31 06618493 uk-bus:FilletedAccounts 2023-01-01 2023-12-31 06618493 uk-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31
Vex Limited
Registered Number:06618493
For the year ended 31 December 2023
England and Wales
Unaudited Financial Statements
2
For the year ended 31 December 2023
Vex Limited
Contents Page
1
Statement of Financial Position
2 to 6
Notes to the Financial Statements
3
Registered Number :
06618493
As at 31 December 2023
Vex Limited
Statement of Financial Position
£
£
2022
2023
Notes
Fixed assets
Property, plant and equipment
6,695
5,582
2
Financial assets
510
-
3
6,695
6,092
Current assets
Inventories
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
Capital and reserves
Called up share capital
2,000
2,000
Retained earnings
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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4
Registered Number :
06618493
For the year ended 31 December 2023
Vex Limited
Statement of Financial Position Continued
Mr B Hingeley Director
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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5
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.
Registered address:
Kingsway
St. Asaph Avenue
Kinmel Bay
Rhyl
LL18 5HB
The presentation currency is £ sterling.
1. Accounting policies
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
20% per annum on cost
10% per annum on cost
Motor vehicles
10% per annum on cost
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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6
For the year ended 31 December 2023
Vex Limited
Notes to the Financial Statements Continued
2. Property, plant and equipment
Total
Fixtures and
fittings
Motor vehicles
Plant and
machinery
£
£
£
£
Cost or
valuation
At 01 January 2023
55,552
-
48,295
7,257
1,500
1,500
-
-
Additions
At 31 December 2023
7,257
48,295
1,500
57,052
Provision for depreciation and impairment
At 01 January 2023
49,970
-
44,792
5,178
Charge for year
387
-
3
384
At 31 December 2023
50,357
-
44,795
5,562
At 31 December 2023
Net book value
1,695
3,500
1,500
6,695
At 31 December 2022
2,079
3,503
-
5,582
3. Investments held as fixed assets
Shares in group and participating interests
Total
At 01 January 2023
510
510
Cost
£
£
Disposals/Repayments
(510)
(510)
At 31 December 2023
-
-
At 31 December 2023
Net book value
-
-
At 01 January 2023
510
510
4. Inventories
2022
2023
£
£
Stocks
18,450
3,950
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7
For the year ended 31 December 2023
Vex Limited
Notes to the Financial Statements Continued
5. Trade and other receivables
2022
2023
£
£
Trade debtors
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:
Trade debtors
21,098
28,306
6. Trade and other payables: amounts falling due within one year
2022
2023
£
£
Bank loans and overdraft
16,454
21,467
Trade creditors
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
£
£
Bank loans and overdraft
15,757
32,621
Other creditors
365
6,821
16,122
39,442
8. Directors advances and guarantees
At 01/01/2023
Loaned
Repaid
At 31/12/2023
£
£
£
£
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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8
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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