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REGISTERED NUMBER: 07508604 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

VENTILATION DIRECT LIMITED

VENTILATION DIRECT LIMITED (REGISTERED NUMBER: 07508604)






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


VENTILATION DIRECT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: S L Marshall





REGISTERED OFFICE: Unit 1
Vantage Close
Sheffield
South Yorkshire
S9 1BG





REGISTERED NUMBER: 07508604 (England and Wales)





ACCOUNTANTS: Jones Thorne Limited
400-402 Richmond Road
Sheffield
South Yorkshire
S13 8LZ

VENTILATION DIRECT LIMITED (REGISTERED NUMBER: 07508604)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 182,059 203,984
Investments 5 367,970 300,393
550,029 504,377

CURRENT ASSETS
Stocks 68,000 68,000
Debtors 6 1,330,050 1,234,236
Cash at bank 350,139 312,873
1,748,189 1,615,109
CREDITORS
Amounts falling due within one year 7 673,557 626,424
NET CURRENT ASSETS 1,074,632 988,685
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,624,661

1,493,062

CREDITORS
Amounts falling due after more than
one year

8

(26,042

)

(88,542

)

PROVISIONS FOR LIABILITIES (59,019 ) (42,663 )
NET ASSETS 1,539,600 1,361,857

VENTILATION DIRECT LIMITED (REGISTERED NUMBER: 07508604)

BALANCE SHEET - continued
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 10 10
Fair value reserve 11 40,513 16,653
Retained earnings 1,499,077 1,345,194
SHAREHOLDERS' FUNDS 1,539,600 1,361,857

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 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 16 October 2024 and were signed by:





S L Marshall - Director


VENTILATION DIRECT LIMITED (REGISTERED NUMBER: 07508604)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Ventilation Direct 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 as modified by the revaluation of certain assets.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year 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.


VENTILATION DIRECT LIMITED (REGISTERED NUMBER: 07508604)

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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 11 ) .

VENTILATION DIRECT LIMITED (REGISTERED NUMBER: 07508604)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 288,159 16,850 84,008 11,469 400,486
Additions - 5,839 7,967 - 13,806
At 31 March 2024 288,159 22,689 91,975 11,469 414,292
DEPRECIATION
At 1 April 2023 146,110 5,196 36,664 8,532 196,502
Charge for year 21,290 2,170 11,834 437 35,731
At 31 March 2024 167,400 7,366 48,498 8,969 232,233
NET BOOK VALUE
At 31 March 2024 120,759 15,323 43,477 2,500 182,059
At 31 March 2023 142,049 11,654 47,344 2,937 203,984

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2023 39,011
Transfer to ownership (39,011 )
At 31 March 2024 -
DEPRECIATION
Charge for year 9,753
Transfer to ownership (9,753 )
At 31 March 2024 -
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 39,011

VENTILATION DIRECT LIMITED (REGISTERED NUMBER: 07508604)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 April 2023 300,393
Additions 134,337
Disposals (100,218 )
Revaluations 33,458
At 31 March 2024 367,970
NET BOOK VALUE
At 31 March 2024 367,970
At 31 March 2023 300,393

Cost or valuation at 31 March 2024 is represented by:

Other
investments
£   
Valuation in 2021 20,155
Valuation in 2022 15,780
Valuation in 2023 (15,376 )
Valuation in 2024 33,458
Cost 313,953
367,970

If fixed asset investments had not been revalued they would have been included at the following historical cost:

31.3.24 31.3.23
£    £   
Cost 313,953 279,834

Fixed asset investments were valued on an open market basis on 31 March 2024 by St. James's Place Wealth Management .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 744,279 656,564
Amounts owed by participating interests 522,623 503,018
Other debtors 63,148 74,654
1,330,050 1,234,236

VENTILATION DIRECT LIMITED (REGISTERED NUMBER: 07508604)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 62,500 62,500
Hire purchase contracts (see note 9)
-

4,380
Trade creditors 430,284 454,907
Taxation and social security 175,363 89,489
Other creditors 5,410 15,148
673,557 626,424

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans 26,042 88,542

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.3.24 31.3.23
£    £   
Net obligations repayable:
Within one year - 4,380

Non-cancellable operating leases
31.3.24 31.3.23
£    £   
Within one year 39,928 46,579
Between one and five years 72,540 112,468
112,468 159,047

10. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Hire purchase contracts - 4,380

VENTILATION DIRECT LIMITED (REGISTERED NUMBER: 07508604)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

11. RESERVES
Fair
value
reserve
£   
At 1 April 2023 16,653
Fair value movement 23,860

At 31 March 2024 40,513

12. TRANSACTIONS WITH DIRECTORS

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

31.3.24 31.3.23
£    £   
S L Marshall
Balance outstanding at start of year 55,973 52,995
Amounts advanced - 2,978
Amounts repaid (13,122 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 42,851 55,973

13. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is S L Marshall.