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Registration number: 14578053

Vectis Works Ltd

Annual Report and Financial Statements

for the Period from 9 January 2023 to 31 January 2024

 

Vectis Works Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

Vectis Works Ltd

Company Information

Director

Mr Timothy Iain Moss

Registered office

Office 1986
37 Westminster Buildings
Theatre Square
Nottingham
NG1 6LG

Accountants

The TAX Partnership (Derby) Limited
2 Cheapside
Derby
Derbyshire
DE1 1BR

 

Vectis Works Ltd

(Registration number: 14578053)
Balance Sheet as at 31 January 2024

Note

2024
£

Current assets

 

Debtors

4

19,853

Cash at bank and in hand

 

100

 

19,953

Creditors: Amounts falling due within one year

5

(24,263)

Net liabilities

 

(4,310)

Capital and reserves

 

Called up share capital

6

100

Retained earnings

(4,410)

Shareholders' deficit

 

(4,310)

For the financial period ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 8 October 2024
 

.........................................
Mr Timothy Iain Moss
Director

 

Vectis Works Ltd

Notes to the Unaudited Financial Statements for the Period from 9 January 2023 to 31 January 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Office 1986
37 Westminster Buildings
Theatre Square
Nottingham
NG1 6LG

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Vectis Works Ltd

Notes to the Unaudited Financial Statements for the Period from 9 January 2023 to 31 January 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1.

4

Debtors

Current

2024
£

Prepayments

3,701

Other debtors

16,152

 

19,853

 

Vectis Works Ltd

Notes to the Unaudited Financial Statements for the Period from 9 January 2023 to 31 January 2024

5

Creditors

Creditors: amounts falling due within one year

Note

2024
£

Due within one year

 

Trade creditors

 

4,441

Amounts owed to group undertakings and undertakings in which the company has a participating interest

19,132

Accruals and deferred income

 

690

 

24,263

6

Share capital

Allotted, called up and fully paid shares

2024

No.

£

Ordinary of £1 each

100

100