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REGISTERED NUMBER: 13298139 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

V Engineering Limited

V Engineering Limited (Registered number: 13298139)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


V Engineering Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: C Bucknall
P Saunders





REGISTERED OFFICE: Unit 1 Transigo
Gables Way
Thatcham
RG19 4JZ





REGISTERED NUMBER: 13298139 (England and Wales)





ACCOUNTANTS: Randall Accountancy Limited
22 The Crofts
Basingstoke
Hampshire
RG22 4RF

V Engineering Limited (Registered number: 13298139)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 32,396 43,909

CURRENT ASSETS
Stocks 16,625 -
Debtors 5 100,627 101,492
Cash at bank 226,949 10,608
344,201 112,100
CREDITORS
Amounts falling due within one year 6 157,056 136,056
NET CURRENT ASSETS/(LIABILITIES) 187,145 (23,956 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

219,541

19,953

CREDITORS
Amounts falling due after more than
one year

7

(494,501

)

(219,501

)

PROVISIONS FOR LIABILITIES 9 (6,155 ) (8,343 )
NET LIABILITIES (281,115 ) (207,891 )

CAPITAL AND RESERVES
Called up share capital 10 11 11
Share premium 149,999 149,999
Retained earnings (431,125 ) (357,901 )
SHAREHOLDERS' FUNDS (281,115 ) (207,891 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

V Engineering Limited (Registered number: 13298139)

Balance Sheet - continued
31 March 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 October 2024 and were signed on its behalf by:





P Saunders - Director


V Engineering Limited (Registered number: 13298139)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

V Engineering 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.

At the balance sheet date the company had net liabilities of £283,303 (2023: £207,891). The ability of the company to continue trading is dependant on the continued support of the company's creditors. The directors are of the opinion that this support will continue for the foreseeable future and so consider it appropriate to prepare the financial statements on the going concern basis. The financial statements do not contain any adjustments that would be required if this support was withdrawn.

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.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.


V Engineering Limited (Registered number: 13298139)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued
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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Impairment
Assets not measured at fair value are reviewed for any indication that an asset may be impaired at each balance sheet date. The directors review the carrying amount of the relevant assets and compare their market values and recoverable amounts. Where the carrying amount exceeds this, an impairment loss is recognised in the profit and loss, unless the asset is carried at a revalued amount, where the impairment loss is a revaluation decrease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 3 ) .

V Engineering Limited (Registered number: 13298139)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 April 2023
and 31 March 2024 64,994 2,800 2,140 69,934
DEPRECIATION
At 1 April 2023 23,374 1,225 1,426 26,025
Charge for year 10,405 394 714 11,513
At 31 March 2024 33,779 1,619 2,140 37,538
NET BOOK VALUE
At 31 March 2024 31,215 1,181 - 32,396
At 31 March 2023 41,620 1,575 714 43,909

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 8,567 18,948
Amounts owed by group undertakings - 241
Other debtors 92,060 82,303
100,627 101,492

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 45,819 31,326
Taxation and social security 10,159 10,188
Other creditors 101,078 94,542
157,056 136,056

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.3.24 31.3.23
£    £   
Other creditors 494,501 219,501

V Engineering Limited (Registered number: 13298139)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.3.24 31.3.23
£    £   
Within one year 71,649 71,649
Between one and five years 77,619 149,268
149,268 220,917

9. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax 6,155 8,343

Deferred
tax
£   
Balance at 1 April 2023 8,343
Credit to Statement of Income and Retained Earnings during
year

(2,188

)
Balance at 31 March 2024 6,155

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
1,131 Ordianary 1p 11 11