Volume Trading (Europe) Ltd 07120624 false 2023-02-01 2024-01-31 2024-01-31 The principal activity of the company is the sale of wood finishes. Digita Accounts Production Advanced 6.30.9574.0 true true 07120624 2023-02-01 2024-01-31 07120624 2024-01-31 07120624 bus:OrdinaryShareClass1 2024-01-31 07120624 core:CurrentFinancialInstruments 2024-01-31 07120624 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 07120624 core:FurnitureFittingsToolsEquipment 2024-01-31 07120624 bus:SmallEntities 2023-02-01 2024-01-31 07120624 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 07120624 bus:AbridgedAccounts 2023-02-01 2024-01-31 07120624 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 07120624 bus:RegisteredOffice 2023-02-01 2024-01-31 07120624 bus:Director1 2023-02-01 2024-01-31 07120624 bus:Director2 2023-02-01 2024-01-31 07120624 bus:Director3 2023-02-01 2024-01-31 07120624 bus:OrdinaryShareClass1 2023-02-01 2024-01-31 07120624 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 07120624 core:FurnitureFittings 2023-02-01 2024-01-31 07120624 core:FurnitureFittingsToolsEquipment 2023-02-01 2024-01-31 07120624 core:MotorVehicles 2023-02-01 2024-01-31 07120624 core:OfficeEquipment 2023-02-01 2024-01-31 07120624 countries:EnglandWales 2023-02-01 2024-01-31 07120624 2023-01-31 07120624 core:FurnitureFittingsToolsEquipment 2023-01-31 07120624 2022-02-01 2023-01-31 07120624 2023-01-31 07120624 bus:OrdinaryShareClass1 2023-01-31 07120624 core:CurrentFinancialInstruments 2023-01-31 07120624 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 07120624 core:FurnitureFittingsToolsEquipment 2023-01-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 07120624

Volume Trading (Europe) Ltd

Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 January 2024

 

Volume Trading (Europe) Ltd

Contents

Company Information

1

Abridged Balance Sheet

2

Notes to the Unaudited Abridged Financial Statements

3 to 7

 

Volume Trading (Europe) Ltd

Company Information

Directors

Mr Barry Dunn

Ms Barbara Ann Dunn

Mr Mark Christopher Richardson

Registered office

36 Ash Grove
Kirklevington
Cleveland
TS15 9NQ

Accountants

Mr David Noble
Chartered Management Accountant
7 Canon Grove
Teesside
Yarm
TS15 9XE

 

Volume Trading (Europe) Ltd

(Registration number: 07120624)
Abridged Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

17,277

23,490

Current assets

 

Debtors

5

536,326

735,761

Cash at bank and in hand

 

523,486

336,060

 

1,059,812

1,071,821

Creditors: Amounts falling due within one year

(387,815)

(386,804)

Net current assets

 

671,997

685,017

Net assets

 

689,274

708,507

Capital and reserves

 

Called up share capital

6

1,000

1,000

Retained earnings

688,274

707,507

Shareholders' funds

 

689,274

708,507

For the financial year ending 31 January 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; and

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

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 29 October 2024 and signed on its behalf by:
 

.........................................
Mr Barry Dunn
Director

 

Volume Trading (Europe) Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
36 Ash Grove
Kirklevington
Cleveland
TS15 9NQ
England

These financial statements were authorised for issue by the Board on 29 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

Volume Trading (Europe) Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2024

Asset class

Depreciation method and rate

Motor vehicles

25% straight line

Office equipment

10% straight line

Furniture and fittings

10% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2023 - 5).

 

Volume Trading (Europe) Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 February 2023

62,128

62,128

At 31 January 2024

62,128

62,128

Depreciation

At 1 February 2023

38,638

38,638

Charge for the year

6,213

6,213

At 31 January 2024

44,851

44,851

Carrying amount

At 31 January 2024

17,277

17,277

At 31 January 2023

23,490

23,490

5

Debtors

Debtors includes £Nil (2023 - £Nil) due after more than one year.

6

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary Share of £1 each

1,000

1,000

1,000

1,000

         

7

Related party transactions

 

Volume Trading (Europe) Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2024

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

463,359

600,754

8

Transition to FRS 102

Balance Sheet at 1 February 2022
 

As originally reported
£

Reclassification
£

Remeasurement
£

As restated
£

Capital and reserves

Total equity

-

-

-

-

 

Volume Trading (Europe) Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2024

Balance Sheet at 31 January 2023
 

As originally reported
£

Reclassification
£

Remeasurement
£

As restated
£

Capital and reserves

Total equity

-

-

-

-