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REGISTERED NUMBER: 07080969 (England and Wales)













Report of the Director and

Unaudited Financial Statements

for the Year Ended 30 April 2024

for

Vixen Surface Treatments Limited

Vixen Surface Treatments Limited (Registered number: 07080969)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Report of the Director 2

Statement of Income and Retained Earnings 3

Balance Sheet 4

Notes to the Financial Statements 6


Vixen Surface Treatments Limited

Company Information
for the Year Ended 30 April 2024







DIRECTOR: A J Mallon





REGISTERED OFFICE: 73 Jay Avenue
THORNABY
Cleveland
TS17 9LZ





REGISTERED NUMBER: 07080969 (England and Wales)





ACCOUNTANTS: Clive Owen LLP
Chartered Accountants
140 Coniscliffe Road
DARLINGTON
Co Durham
DL3 7RT

Vixen Surface Treatments Limited (Registered number: 07080969)

Report of the Director
for the Year Ended 30 April 2024

The director presents his report with the financial statements of the company for the year ended 30 April 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of the manufacturing of machinery.

DIRECTOR
A J Mallon held office during the whole of the period from 1 May 2023 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





A J Mallon - Director


8 October 2024

Vixen Surface Treatments Limited (Registered number: 07080969)

Statement of Income and
Retained Earnings
for the Year Ended 30 April 2024

2024 2023
Notes £    £   

TURNOVER 7,716,144 8,356,352

Cost of sales (3,852,920 ) (5,004,282 )
GROSS PROFIT 3,863,224 3,352,070

Distribution costs (135,013 ) (238,849 )
Administrative expenses (2,877,159 ) (2,529,103 )
851,052 584,118

Other operating income 16,000 7,500
OPERATING PROFIT 867,052 591,618

Interest receivable and similar income 9,959 384
877,011 592,002

Interest payable and similar expenses (46,822 ) (30,313 )
PROFIT BEFORE TAXATION 830,189 561,689

Tax on profit 4 (164,051 ) (31,963 )
PROFIT FOR THE FINANCIAL YEAR 666,138 529,726

Retained earnings at beginning of year 2,914,538 2,876,802

Dividends 5 (429,173 ) (491,990 )

RETAINED EARNINGS AT END OF
YEAR

3,151,503

2,914,538

Vixen Surface Treatments Limited (Registered number: 07080969)

Balance Sheet
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 6 1,242,495 1,293,478

CURRENT ASSETS
Stocks 7 1,763,244 1,452,754
Debtors 8 1,180,300 1,495,075
Cash at bank and in hand 731,756 576,989
3,675,300 3,524,818
CREDITORS
Amounts falling due within one year 9 1,395,214 1,359,286
NET CURRENT ASSETS 2,280,086 2,165,532
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,522,581

3,459,010

CREDITORS
Amounts falling due after more than one
year

10

(233,914

)

(387,110

)

PROVISIONS FOR LIABILITIES 13 (136,164 ) (156,362 )
NET ASSETS 3,152,503 2,915,538

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 3,151,503 2,914,538
SHAREHOLDERS' FUNDS 3,152,503 2,915,538

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

Vixen Surface Treatments Limited (Registered number: 07080969)

Balance Sheet - continued
30 April 2024


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the director and authorised for issue on 8 October 2024 and were signed by:





A J Mallon - Director


Vixen Surface Treatments Limited (Registered number: 07080969)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Vixen Surface Treatments 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.

There were no material departures from that standard.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover represents the amount derived from the provision of goods and services to customers after deduction of trade discounts and value added tax. Turnover is recognised at the point at which the risks and rewards of the goods are transferred to the customer and the services are rendered.

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 - 10% on cost and over period of the lease
Fixtures and fittings - 15% on cost
Motor vehicles - 10% on cost and over period of the lease

Tangible fixed assets are measured at cost less accumulated depreciation and impairment.

Stocks
Stocks are valued at the lower of cost and selling price less estimated costs to sell

Financial instruments
Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


Vixen Surface Treatments Limited (Registered number: 07080969)

Notes to the Financial Statements - continued
for the Year Ended 30 April 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.

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.

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 63 (2023 - 73 ) .

4. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 184,249 12,202

Deferred tax (20,198 ) 19,761
Tax on profit 164,051 31,963

5. DIVIDENDS
2024 2023
£    £   
Ordinary shares of £1 each
Interim 429,173 491,990

Vixen Surface Treatments Limited (Registered number: 07080969)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

6. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 May 2023 917,008 630,487 980,148 2,527,643
Additions 38,620 47,346 201,965 287,931
Disposals - (19,138 ) (198,620 ) (217,758 )
At 30 April 2024 955,628 658,695 983,493 2,597,816
DEPRECIATION
At 1 May 2023 581,411 320,533 332,221 1,234,165
Charge for year 53,190 52,493 152,062 257,745
Eliminated on disposal - (3,594 ) (132,995 ) (136,589 )
At 30 April 2024 634,601 369,432 351,288 1,355,321
NET BOOK VALUE
At 30 April 2024 321,027 289,263 632,205 1,242,495
At 30 April 2023 335,597 309,954 647,927 1,293,478

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 May 2023 155,732 843,706 999,438
Additions - 174,079 174,079
Disposals - (138,389 ) (138,389 )
Transfer to ownership - (47,729 ) (47,729 )
At 30 April 2024 155,732 831,667 987,399
DEPRECIATION
At 1 May 2023 74,612 230,848 305,460
Charge for year 12,480 141,665 154,145
Eliminated on disposal - (87,775 ) (87,775 )
Transfer to ownership - (34,263 ) (34,263 )
At 30 April 2024 87,092 250,475 337,567
NET BOOK VALUE
At 30 April 2024 68,640 581,192 649,832
At 30 April 2023 81,120 612,858 693,978

7. STOCKS
2024 2023
£    £   
Stocks 1,763,244 1,452,754

Vixen Surface Treatments Limited (Registered number: 07080969)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 542,280 822,445
Amounts owed by group undertakings 498,008 516,793
Other debtors 8,640 14,891
Directors' current accounts - 26,584
Prepayments and accrued income 131,372 114,362
1,180,300 1,495,075

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 50,000 50,000
Hire purchase contracts (see note 11) 221,397 211,850
Trade creditors 577,837 883,549
Taxation and social security 297,872 107,634
Other creditors 38,740 33,426
Accruals and deferred income 209,368 72,827
1,395,214 1,359,286

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 50,000 50,000
Bank loans - 2-5 years 4,167 54,167
Hire purchase contracts (see note 11) 179,747 282,943
233,914 387,110

11. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 221,397 211,850
Between one and five years 179,747 282,943
401,144 494,793

Non-cancellable operating leases
2024 2023
£    £   
Within one year 36,000 36,000
Between one and five years - 36,000
36,000 72,000

Vixen Surface Treatments Limited (Registered number: 07080969)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

12. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 401,144 494,793

The Hire purchase contracts are secured against the assets to which they relate. CBILS loan is secured by fixed & floating charge over all assets.

13. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 136,164 156,362

Deferred
tax
£   
Balance at 1 May 2023 156,362
Accelerated capital allowances (20,198 )
Balance at 30 April 2024 136,164

14. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 April 2024 and 30 April 2023:

2024 2023
£    £   
A J Mallon
Balance outstanding at start of year 26,584 35,000
Amounts advanced - 26,584
Amounts repaid (26,584 ) (35,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 26,584

No interest has been charged by the company on this balance.

Payments made to and on behalf of the director, Mr A J Mallon; salary and dividends of £437,557(2023: £491,990) and benefits with a deemed cash value of £8,320 (2023: £8,320).

15. RELATED PARTY DISCLOSURES

The company paid rent amounting to £216,000 (2023: £216,000) to Vixen Properties Limited. This company is also owned and managed by Mr A J Mallon. Amounts owed from Vixen Properties Limited at the year end totalled £496,320 (2023: £516,793).