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REGISTERED NUMBER: 13804482 (England and Wales)











































V F Electrical Solutions Ltd

Unaudited Financial Statements

for the Year Ended 31st December 2023






V F Electrical Solutions Ltd (Registered number: 13804482)






Contents of the Financial Statements
for the year ended 31st December 2023




Page

Company information 1

Balance sheet 2 to 3

Notes to the financial statements 4 to 7


V F Electrical Solutions Ltd

Company Information
for the year ended 31st December 2023







Director: C Ferguson





Registered office: Halidon House
17D Windmill Way West
Ramparts Business Park
Berwick Upon Tweed
Northumberland
TD15 1TB





Business address: Unit 4B
Windmill Way West
Ramparts Business Park
Berwick Upon Tweed
Northumberland
TD15 1TB





Registered number: 13804482 (England and Wales)





Accountants: Rennie Welch LLP
Academy House
Shedden Park Road
Kelso
Roxburghshire
TD5 7AL

V F Electrical Solutions Ltd (Registered number: 13804482)

Balance Sheet
31st December 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Tangible assets 4 20,866 41,948

Current assets
Stocks 11,500 11,500
Debtors 5 32,042 30,697
Cash at bank 22,071 41,731
65,613 83,928
Creditors
Amounts falling due within one year 6 41,450 67,964
Net current assets 24,163 15,964
Total assets less current liabilities 45,029 57,912

Creditors
Amounts falling due after more than one
year

7

(10,255

)

(21,859

)

Provisions for liabilities (1,274 ) (2,551 )
Net assets 33,500 33,502

Capital and reserves
Called up share capital 50 100
Capital redemption reserve 50 -
Retained earnings 33,400 33,402
33,500 33,502

V F Electrical Solutions Ltd (Registered number: 13804482)

Balance Sheet - continued
31st December 2023


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 6th September 2024 and were signed by:





C Ferguson - Director


V F Electrical Solutions Ltd (Registered number: 13804482)

Notes to the Financial Statements
for the year ended 31st December 2023

1. Statutory information

V F Electrical Solutions Ltd 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.

Turnover arising from the sale of goods is recognised when the significant risks and rewards of ownership have passed to the buyer. Turnover arising from the provision of services is recognised as contract activity progresses and the right to consideration is earned. Unbilled turnover is included in debtors as amounts recoverable on contracts.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Office equipment - 33% on cost

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Stocks
Stock is valued at the lower of cost and estimated selling price less costs to sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of completion.

Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, accruals, bank loans, hire purchase contracts and directors' loans.

Bank loans and hire purchase contracts are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method.

Directors' loans (being repayable on demand), trade debtors, trade creditors and accruals are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.


V F Electrical Solutions Ltd (Registered number: 13804482)

Notes to the Financial Statements - continued
for the year ended 31st December 2023

2. Accounting policies - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce constant periodic rates of charge on the net obligations outstanding in each period.

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.

Provisions
Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis.

Employee benefits
Short term employee benefits, including holiday pay, are recognised as an expense in the Statement of Income and Retained Earnings in the period in which they are incurred.

Going concern
The director has considered the company's financial position for a minimum period of 12 months and beyond from the date of signing these financial statements and has an expectation that the company should be in a position to continue trading in the current format for the foreseeable future. Accordingly, he continues to adopt the going concern basis in preparing these financial statements.

3. Employees and directors

The average number of employees during the year was 5 (2022 - 5 ) .

V F Electrical Solutions Ltd (Registered number: 13804482)

Notes to the Financial Statements - continued
for the year ended 31st December 2023

4. Tangible fixed assets
Plant and Motor Office
machinery vehicles equipment Totals
£    £    £    £   
Cost
At 1st January 2023 3,678 48,477 231 52,386
Additions 749 - - 749
Disposals - (19,389 ) - (19,389 )
At 31st December 2023 4,427 29,088 231 33,746
Depreciation
At 1st January 2023 420 9,942 76 10,438
Charge for year 748 6,465 77 7,290
Eliminated on disposal - (4,848 ) - (4,848 )
At 31st December 2023 1,168 11,559 153 12,880
Net book value
At 31st December 2023 3,259 17,529 78 20,866
At 31st December 2022 3,258 38,535 155 41,948

5. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 20,172 28,641
Other debtors 11,870 2,056
32,042 30,697

6. Creditors: amounts falling due within one year
2023 2022
£    £   
Bank loans and overdrafts 4,932 4,932
Hire purchase contracts 6,373 6,373
Trade creditors 5,826 5,425
Taxation and social security 18,752 34,227
Other creditors 5,567 17,007
41,450 67,964

7. Creditors: amounts falling due after more than one year
2023 2022
£    £   
Bank loans 7,630 12,562
Hire purchase contracts 2,625 9,297
10,255 21,859

V F Electrical Solutions Ltd (Registered number: 13804482)

Notes to the Financial Statements - continued
for the year ended 31st December 2023

8. Secured debts

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 8,998 -

The hire purchase contracts are secured against the assets to which they relate.

9. Directors' advances, credits and guarantees

The following advances and credits to directors subsisted during the years ended 31st December 2023 and 31st December 2022:

20232022
££
Director 1
Balance outstanding at start of year--
Amounts advanced10,173-
Amounts repaid--
Balance outstanding at end of year10,173-

These loans are unsecured, interest has been charged at the official rates published by HMRC and they are repayable on demand.

10. Post balance sheet events

Since the year end, on 6th September 2024, a final dividend for the year ending 31st December 2023 of £210 per share has been declared.