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Logo On Report
Registered Number: 04745728
England and Wales

 

 

 


Unaudited Financial Statements

for the year ended 30 April 2024

for

VJ BUCKMAN LIMITED

Directors Vince Buckman
Linda Buckman
Registered Number 04745728
Registered Office 3 Brickfields Business Park
Old Stowmarket Road, Woolpit
Bury St Edmunds
IP30 9QS
Accountants Quove Accounting Ltd
3 Brickfields Business Park
Old Stowmarket Road, Woolpit
Bury St Edmunds
IP30 9QS
1
  2024   2023
    £ £   £ £
Fixed assets   152,154      153,106 
Current assets 67,200      70,291   
Creditors: amount falling due within one year (3,092)     (3,585)  
Net current assets   64,108      66,706 
Total assets less current liabilities   216,262      219,812 
Creditors: amount falling due after more than one year   (18,562)     (25,132)
Net assets   197,700      194,680 
 

         
Capital and reserves   197,700      194,680 
 
NOTES TO THE ACCOUNTS

General Information
VJ Buckman Limited is a private company, limited by shares, registered in England and Wales, registration number 04745728, registration address 3 Brickfields Business Park, Old Stowmarket Road, Woolpit, Bury St Edmunds, IP30 9QS.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 105 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Tangible fixed assets
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:
Land and Buildings 0% Reducing Balance
Plant and Machinery 25% Reducing Balance
Investment properties
Investment properties are included in the statement of financial position at their open market value at the statement of financial position date. The resulting aggregate surplus or deficit is transferred to a revaluation reserve. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years.
Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the statement of financial position to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.
2.

Tangible fixed assets

Cost or valuation Land and Buildings   Plant and Machinery   Total
  £   £   £
At 01 May 2023 149,300    38,896    188,196 
Additions    
Disposals    
At 30 April 2024 149,300    38,896    188,196 
Depreciation
At 01 May 2023   35,090    35,090 
Charge for year   952    952 
On disposals    
At 30 April 2024   36,042    36,042 
Net book values
Closing balance as at 30 April 2024 149,300    2,854    152,154 
Opening balance as at 01 May 2023 149,300    3,806    153,106 


3.

Average number of employees

Average number of employees during the year was 2 (2023 : 2).

4.

Related parties

During the year the company entered into the following transactions with related parties:
Amount due from/to related party Provision for doubtful debt from the related party
2024
£
 2023
£
 2024
£
 2023
£
Mr & Mrs V Buckman(18,562)(25,132)

There was an interest free loan to the company from the directors

For the year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' Responsibilities:
The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the micro-entity provisions and FRS 105, the Financial Reporting Standard applicable to the micro-entities regime. The accounts have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 07 October 2024 and were signed on its behalf by:


--------------------------------
Vince Buckman
Director
2