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REGISTERED NUMBER: 10483641 (England and Wales)






























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

VERY DISPLAYS LIMITED

VERY DISPLAYS LIMITED (REGISTERED NUMBER: 10483641)

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


VERY DISPLAYS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mr NN Cox
Mr CDJ Cox
Mr SJ Boswell





REGISTERED OFFICE: Granville Hall
Granville Road
Leicester
LE1 7RU





REGISTERED NUMBER: 10483641 (England and Wales)

VERY DISPLAYS LIMITED (REGISTERED NUMBER: 10483641)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 493,198 433,921

CURRENT ASSETS
Stocks 5 974,760 1,553,668
Debtors 6 1,370,606 1,269,191
Cash at bank 39,079 34,493
2,384,445 2,857,352
CREDITORS
Amounts falling due within one year 7 1,944,815 2,835,515
NET CURRENT ASSETS 439,630 21,837
TOTAL ASSETS LESS CURRENT
LIABILITIES

932,828

455,758

CREDITORS
Amounts falling due after more than one
year

8

(173,511

)

(148,306

)

PROVISIONS FOR LIABILITIES (97,273 ) -
NET ASSETS 662,044 307,452

CAPITAL AND RESERVES
Called up share capital 10 160 160
Retained earnings 661,884 307,292
SHAREHOLDERS' FUNDS 662,044 307,452

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.

VERY DISPLAYS LIMITED (REGISTERED NUMBER: 10483641)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 October 2024 and were signed on its behalf by:





Mr CDJ Cox - Director


VERY DISPLAYS LIMITED (REGISTERED NUMBER: 10483641)

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


1. STATUTORY INFORMATION

Very Displays 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Revenue comprises the fair value for the sale of goods excluding value added taxes and represents net invoice.

The company supplies products to customers under standard terms and conditions. In all cases revenue is recognised when the risks and rewards of ownership are transferred and this is defined to be on dispatch of the goods.

Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Short leasehold - Over period of lease
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 20% on cost

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

VERY DISPLAYS LIMITED (REGISTERED NUMBER: 10483641)

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


2. ACCOUNTING POLICIES - continued

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those 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 the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 33 (2023 - 28 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and
leasehold machinery fittings Totals
£    £    £    £   
COST
At 1 April 2023 122,419 560,925 89,579 772,923
Additions 38,961 198,206 23,120 260,287
Disposals - (90,290 ) - (90,290 )
At 31 March 2024 161,380 668,841 112,699 942,920
DEPRECIATION
At 1 April 2023 30,230 256,894 51,878 339,002
Charge for year 27,043 133,160 20,737 180,940
Eliminated on disposal - (70,220 ) - (70,220 )
At 31 March 2024 57,273 319,834 72,615 449,722
NET BOOK VALUE
At 31 March 2024 104,107 349,007 40,084 493,198
At 31 March 2023 92,189 304,031 37,701 433,921

VERY DISPLAYS LIMITED (REGISTERED NUMBER: 10483641)

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


5. STOCKS
2024 2023
£    £   
Stocks 974,760 1,553,668

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,173,016 1,087,550
Amounts owed by group undertakings - 8,570
Deferred taxation - 26,017
Other debtors 197,590 147,054
1,370,606 1,269,191

Trade debtors include factored debts.

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 9,911 9,911
Hire purchase contracts 106,912 34,267
Trade creditors 175,109 328,087
Taxation and social security 262,789 207,752
Other creditors 1,390,094 2,255,498
1,944,815 2,835,515

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 14,225 24,111
Hire purchase contracts 159,286 124,195
173,511 148,306

VERY DISPLAYS LIMITED (REGISTERED NUMBER: 10483641)

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


9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 266,198 158,462
Invoice Finance 185,765 532,012
Import Finance 328,825 615,837
780,788 1,306,311

The HSBC Bank Plc has a Debenture over all assets of the company.

Hire purchase contracts are secured upon the assets to which they relate.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1,600 Ordinary 10p 160 160

11. RELATED PARTY DISCLOSURES

At the end of the period an amount of £623,430 (2023 - £874,211) was owed to Trifibre Limited. Mr NN Cox and Mr CDJ Cox are directors of Trifibre Limited. Trifibre Limited holds a charge over the stock held by the company.

Interest was charged on the above balances at 2% above base rate.