IRIS Accounts Production v24.3.0.553 03700037 director 1.6.23 31.5.24 31.5.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh037000372023-05-31037000372024-05-31037000372023-06-012024-05-31037000372022-05-31037000372022-06-012023-05-31037000372023-05-3103700037ns15:EnglandWales2023-06-012024-05-3103700037ns14:PoundSterling2023-06-012024-05-3103700037ns10:Director12023-06-012024-05-3103700037ns10:PrivateLimitedCompanyLtd2023-06-012024-05-3103700037ns10:SmallEntities2023-06-012024-05-3103700037ns10:AuditExempt-NoAccountantsReport2023-06-012024-05-3103700037ns10:SmallCompaniesRegimeForDirectorsReport2023-06-012024-05-3103700037ns10:SmallCompaniesRegimeForAccounts2023-06-012024-05-3103700037ns10:FullAccounts2023-06-012024-05-310370003712023-06-012024-05-3103700037ns10:RegisteredOffice2023-06-012024-05-3103700037ns5:CurrentFinancialInstruments2024-05-3103700037ns5:CurrentFinancialInstruments2023-05-3103700037ns5:Non-currentFinancialInstruments2024-05-3103700037ns5:Non-currentFinancialInstruments2023-05-3103700037ns5:ShareCapital2024-05-3103700037ns5:ShareCapital2023-05-3103700037ns5:RetainedEarningsAccumulatedLosses2024-05-3103700037ns5:RetainedEarningsAccumulatedLosses2023-05-3103700037ns5:NetGoodwill2023-06-012024-05-3103700037ns5:IntangibleAssetsOtherThanGoodwill2023-06-012024-05-3103700037ns5:LandBuildings2023-06-012024-05-3103700037ns5:PlantMachinery2023-06-012024-05-3103700037ns5:NetGoodwill2023-05-3103700037ns5:NetGoodwill2024-05-3103700037ns5:NetGoodwill2023-05-3103700037ns5:LandBuildings2023-05-3103700037ns5:PlantMachinery2023-05-3103700037ns5:LandBuildings2024-05-3103700037ns5:PlantMachinery2024-05-3103700037ns5:LandBuildings2023-05-3103700037ns5:PlantMachinery2023-05-3103700037ns5:WithinOneYearns5:CurrentFinancialInstruments2024-05-3103700037ns5:WithinOneYearns5:CurrentFinancialInstruments2023-05-3103700037ns5:WithinOneYear2024-05-3103700037ns5:WithinOneYear2023-05-3103700037ns5:BetweenOneFiveYears2024-05-3103700037ns5:BetweenOneFiveYears2023-05-3103700037ns5:MoreThanFiveYears2024-05-3103700037ns5:MoreThanFiveYears2023-05-3103700037ns5:AllPeriods2024-05-3103700037ns5:AllPeriods2023-05-31
REGISTERED NUMBER: 03700037 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

V & MP TERMINALS & ACCESSORIES LIMITED

V & MP TERMINALS & ACCESSORIES LIMITED (REGISTERED NUMBER: 03700037)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


V & MP TERMINALS & ACCESSORIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTOR: G M Porter





REGISTERED OFFICE: Unit 35b
Lady Lane Industrial Estate
Hadleigh
Ipswich
Suffolk
IP7 6BQ





REGISTERED NUMBER: 03700037 (England and Wales)





ACCOUNTANTS: Walter Wright
Chartered Accountants
89 High Street
Hadleigh
Ipswich
Suffolk
IP7 5EA

V & MP TERMINALS & ACCESSORIES LIMITED (REGISTERED NUMBER: 03700037)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 4,074 4,263
4,074 4,263

CURRENT ASSETS
Stocks 169,867 157,956
Debtors 6 228,059 248,554
Cash at bank and in hand 23,909 46,591
421,835 453,101
CREDITORS
Amounts falling due within one year 7 150,606 228,031
NET CURRENT ASSETS 271,229 225,070
TOTAL ASSETS LESS CURRENT
LIABILITIES

275,303

229,333

CREDITORS
Amounts falling due after more than one
year

8

(18,333

)

(28,333

)

PROVISIONS FOR LIABILITIES (1,019 ) (1,066 )
NET ASSETS 255,951 199,934

CAPITAL AND RESERVES
Called up share capital 5,000 5,000
Retained earnings 250,951 194,934
SHAREHOLDERS' FUNDS 255,951 199,934

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

V & MP TERMINALS & ACCESSORIES LIMITED (REGISTERED NUMBER: 03700037)

BALANCE SHEET - continued
31 MAY 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 21 November 2024 and were signed by:





G M Porter - Director


V & MP TERMINALS & ACCESSORIES LIMITED (REGISTERED NUMBER: 03700037)

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


1. STATUTORY INFORMATION

V & MP Terminals & Accessories 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
Turnover represents the sales of goods and services, is recognised on dispatch of the goods or provision of the service and excludes value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2000, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - Over the life of the lease
Plant and machinery etc - 25% on reducing balance and 20% 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.

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 9 (2023 - 8 ) .

V & MP TERMINALS & ACCESSORIES LIMITED (REGISTERED NUMBER: 03700037)

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


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2023
and 31 May 2024 405,001
AMORTISATION
At 1 June 2023
and 31 May 2024 405,001
NET BOOK VALUE
At 31 May 2024 -
At 31 May 2023 -

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 June 2023 916 40,160 41,076
Additions - 880 880
At 31 May 2024 916 41,040 41,956
DEPRECIATION
At 1 June 2023 916 35,897 36,813
Charge for year - 1,069 1,069
At 31 May 2024 916 36,966 37,882
NET BOOK VALUE
At 31 May 2024 - 4,074 4,074
At 31 May 2023 - 4,263 4,263

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 133,624 154,250
Amounts owed by group undertakings 89,856 89,856
Other debtors 4,579 4,448
228,059 248,554

V & MP TERMINALS & ACCESSORIES LIMITED (REGISTERED NUMBER: 03700037)

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


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 53,477 48,353
Taxation and social security 44,400 47,797
Other creditors 42,729 121,881
150,606 228,031

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 18,333 28,333

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 15,000 15,000
Between one and five years 57,500 60,000
In more than five years - 12,500
72,500 87,500