IRIS Accounts Production v24.2.0.383 14596956 Board of Directors 17.1.23 31.1.24 31.1.24 0 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh145969562023-01-16145969562024-01-31145969562023-01-172024-01-31145969562023-01-1614596956ns15:EnglandWales2023-01-172024-01-3114596956ns14:PoundSterling2023-01-172024-01-3114596956ns10:Director12023-01-172024-01-3114596956ns10:PrivateLimitedCompanyLtd2023-01-172024-01-3114596956ns10:SmallEntities2023-01-172024-01-3114596956ns10:AuditExempt-NoAccountantsReport2023-01-172024-01-3114596956ns10:SmallCompaniesRegimeForDirectorsReport2023-01-172024-01-3114596956ns10:SmallCompaniesRegimeForAccounts2023-01-172024-01-3114596956ns10:FullAccounts2023-01-172024-01-3114596956ns10:Director22023-01-172024-01-3114596956ns10:Director32023-01-172024-01-3114596956ns10:Director42023-01-172024-01-3114596956ns10:RegisteredOffice2023-01-172024-01-3114596956ns5:CurrentFinancialInstruments2024-01-3114596956ns5:ShareCapital2024-01-3114596956ns5:RetainedEarningsAccumulatedLosses2024-01-3114596956ns5:WithinOneYearns5:CurrentFinancialInstruments2024-01-31
REGISTERED NUMBER: 14596956 (England and Wales)















Verteco Power Ltd

Unaudited Financial Statements

For The Period 17 January 2023 to 31 January 2024






Verteco Power Ltd (Registered number: 14596956)






Contents of the Financial Statements
For The Period 17 January 2023 to 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Verteco Power Ltd

Company Information
For The Period 17 January 2023 to 31 January 2024







DIRECTORS: D S Morris
S A Morris
T E Morris
A E Morris





REGISTERED OFFICE: The Water Tower J3 Business Park
Carr Hill
Doncaster
DN4 8DE





REGISTERED NUMBER: 14596956 (England and Wales)





ACCOUNTANTS: Kingswood Allotts Limited
Chartered Accountants
Sidings Court
Lakeside
Doncaster
South Yorkshire
DN4 5NU

Verteco Power Ltd (Registered number: 14596956)

Balance Sheet
31 January 2024

Notes £   
CURRENT ASSETS
Debtors 4 53,314
Cash at bank 10,791
64,105
CREDITORS
Amounts falling due within one year 5 64,786
NET CURRENT LIABILITIES (681 )
TOTAL ASSETS LESS CURRENT LIABILITIES (681 )

CAPITAL AND RESERVES
Called up share capital 100
Retained earnings (781 )
(681 )

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 January 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.

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 13 October 2024 and were signed on its behalf by:





D S Morris - Director


Verteco Power Ltd (Registered number: 14596956)

Notes to the Financial Statements
For The Period 17 January 2023 to 31 January 2024

1. STATUTORY INFORMATION

Verteco Power 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.

The financial statements are presented in Sterling (£), which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements reflect the first period of accounts for the company, being from incorporation on 17 January 2023 to 31 January 2024. Therefore no comparative figures are presented.

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.

Financial instruments
The company has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments.

Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

The company’s policies for its major classes of financial assets and financial liabilities are set out below.

Financial assets

Basic financial assets, including other debtors and cash and bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Financial liabilities

Basic financial liabilities, including trade and other creditors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Taxation
Taxation for the period 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.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.

Verteco Power Ltd (Registered number: 14596956)

Notes to the Financial Statements - continued
For The Period 17 January 2023 to 31 January 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL.

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Other debtors 53,314

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade creditors 36
Other creditors 64,750
64,786

6. CAPITAL COMMITMENTS

At the period end, the company had capital commitments of £478,871.