Registered number
07119840
V2S ENABLERS LTD
Unaudited Filleted Accounts
31 March 2024
V2S ENABLERS LTD
Registered number: 07119840
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 44 58
Current assets
Debtors 5 13,416 24,285
13,416 24,285
Creditors: amounts falling due within one year 6 (15,641) (18,834)
Net current (liabilities)/assets (2,225) 5,451
Total assets less current liabilities (2,181) 5,509
Creditors: amounts falling due after more than one year 7 (2,802) (5,042)
Net (liabilities)/assets (4,983) 467
Capital and reserves
Called up share capital 10 10
Profit and loss account (4,993) 457
Shareholders' funds (4,983) 467
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
V M Nair
Director
Approved by the board on 25 November 2024
V2S ENABLERS LTD
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Plant and machinery 25% reducing balance
Fixtures, fittings, tools and equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Going concern
The directors have assessed the company’s ability to continue as a going concern for a period of 12 months from the date of approval of the financial statements.The directors have confirmed that they will continue to give financial support to the company until such time as its position improves. The directors are not aware of any material uncertainties related to events or conditions which may cast significant doubt upon the entity’s ability to continue as a going concern.
3 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023 1,655
At 31 March 2024 1,655
Depreciation
At 1 April 2023 1,597
Charge for the year 14
At 31 March 2024 1,611
Net book value
At 31 March 2024 44
At 31 March 2023 58
5 Debtors 2024 2023
£ £
Trade debtors - 3,900
S455 CT recoverable 1,454 1,454
Directors loan account 11,962 18,931
13,416 24,285
6 Creditors: amounts falling due within one year 2024 2023
£ £
Accruals 2,016 2,016
Bank loans & Overdrafts 8,293 6,536
Trade creditors 2,365 2,912
Company credit card 2,911 2,792
Corporation tax - 4,578
Other taxes and social security costs 56 -
15,641 18,834
Included within bank loans is a COVID bounce back loan of £2,244 (2023: £2,244), 100% guaranteed
by the government.
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 2,802 5,042
Included within bank loans is a COVID bounce back loan of £2,802 (2023: £5,042), 100% guaranteed
by the government.
8 Controlling party
The company is under the control of one of its directors by virtue of his shareholding.
9 Other information
V2S ENABLERS LTD is a private company limited by shares and incorporated in England. Its registered office is:
49 High Street
Langley, Slough
Berkshire
SL3 8NF
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