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Company Registration No. 03784471 (England and Wales)
Velo Systems Limited Unaudited accounts for the year ended 31 January 2024
Velo Systems Limited Unaudited accounts Contents
Page
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Velo Systems Limited Company Information for the year ended 31 January 2024
Director
Mr Aria Taheri
Company Number
03784471 (England and Wales)
Registered Office
Velo Systems Ltd Aria House 2 Belle Vue Avenue Manchester Lancashire M12 4AS England
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Velo Systems Limited Statement of financial position as at 31 January 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
5,582 
37,676 
Current assets
Inventories
- 
64,701 
Debtors
241,724 
212,681 
Cash at bank and in hand
31,454 
38,716 
273,178 
316,098 
Creditors: amounts falling due within one year
(26,141)
(60,881)
Net current assets
247,037 
255,217 
Total assets less current liabilities
252,619 
292,893 
Provisions for liabilities
Deferred tax
(1,060)
(7,158)
Net assets
251,559 
285,735 
Capital and reserves
Called up share capital
7,065 
7,065 
Profit and loss account
244,494 
278,670 
Shareholders' funds
251,559 
285,735 
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 23 October 2024 and were signed on its behalf by
Mr Aria Taheri Director Company Registration No. 03784471
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Velo Systems Limited Notes to the Accounts for the year ended 31 January 2024
1
Statutory information
Velo Systems Limited is a private company, limited by shares, registered in England and Wales, registration number 03784471. The registered office is Velo Systems Ltd, Aria House 2 Belle Vue Avenue, Manchester, Lancashire, M12 4AS, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less accumulative depreciation and accumulative impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% on reducing balance
Computer equipment
25% on reducing balance
4
Tangible fixed assets
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 February 2023
60,910 
23,767 
84,677 
Additions
1,334 
2,318 
3,652 
Disposals
(57,157)
(20,529)
(77,686)
At 31 January 2024
5,087 
5,556 
10,643 
Depreciation
At 1 February 2023
35,403 
11,598 
47,001 
Charge for the year
6,479 
2,272 
8,751 
On disposals
(38,830)
(11,861)
(50,691)
At 31 January 2024
3,052 
2,009 
5,061 
Net book value
At 31 January 2024
2,035 
3,547 
5,582 
At 31 January 2023
25,507 
12,169 
37,676 
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Velo Systems Limited Notes to the Accounts for the year ended 31 January 2024
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
66,880 
137,125 
Amounts due from group undertakings etc.
90,414 
74,731 
Other debtors
84,430 
- 
241,724 
211,856 
Amounts falling due after more than one year
Other debtors
- 
825 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
23,199 
23,243 
Trade creditors
215 
33,070 
Taxes and social security
513 
2,056 
Other creditors
2,214 
2,512 
26,141 
60,881 
7
Average number of employees
During the year the average number of employees was 1 (2023: 9).
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