V21 (UK) Limited 06852558 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is Equipment Leaseing Digita Accounts Production Advanced 6.30.9574.0 true 06852558 2023-04-01 2024-03-31 06852558 2024-03-31 06852558 core:RetainedEarningsAccumulatedLosses 2024-03-31 06852558 core:ShareCapital 2024-03-31 06852558 core:FinancialAssetsDesignatedFairValueThroughProfitOrLoss core:Non-currentFinancialInstruments 2024-03-31 06852558 core:CurrentFinancialInstruments 2024-03-31 06852558 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 06852558 core:Non-currentFinancialInstruments 2024-03-31 06852558 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 06852558 core:FurnitureFittings 2024-03-31 06852558 bus:SmallEntities 2023-04-01 2024-03-31 06852558 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 06852558 bus:FullAccounts 2023-04-01 2024-03-31 06852558 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 06852558 bus:RegisteredOffice 2023-04-01 2024-03-31 06852558 bus:Director1 2023-04-01 2024-03-31 06852558 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 06852558 core:FurnitureFittings 2023-04-01 2024-03-31 06852558 countries:EnglandWales 2023-04-01 2024-03-31 06852558 2023-03-31 06852558 core:FurnitureFittings 2023-03-31 06852558 2022-04-01 2023-03-31 06852558 2023-03-31 06852558 core:RetainedEarningsAccumulatedLosses 2023-03-31 06852558 core:ShareCapital 2023-03-31 06852558 core:CurrentFinancialInstruments 2023-03-31 06852558 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 06852558 core:Non-currentFinancialInstruments 2023-03-31 06852558 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 06852558 core:FurnitureFittings 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 06852558

V21 (UK) Limited
 

Annual Report and Unaudited Financial Statements- Companies house filing

for the Year Ended 31 March 2024

 

V21 (UK) Limited

(Registration number: 06852558)
Statement of Financial Position as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

845

554

Other financial assets

5

17,263

34,057

 

18,108

34,611

Current assets

 

Debtors

6

14,817

13,940

Cash at bank and in hand

 

17,954

5,046

 

32,771

18,986

Creditors: Amounts falling due within one year

7

(32,988)

(32,719)

Net current liabilities

 

(217)

(13,733)

Total assets less current liabilities

 

17,891

20,878

Creditors: Amounts falling due after more than one year

7

(17,568)

(20,661)

Net assets

 

323

217

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

223

117

Shareholders' funds

 

323

217

For the financial year ending 31 March 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 provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Income Statement has been taken.

Approved and authorised by the Board on 9 September 2024 and signed on its behalf by:
 

 

V21 (UK) Limited

(Registration number: 06852558)
Statement of Financial Position as at 31 March 2024

.........................................
Mr S R Deacon
Director

 

V21 (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 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: 43 Hall Lane, Yateley, GU46 6HP. England.

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 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 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.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of 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.

Government grants

Grants are accounted for under the accruals model as permitted by FRS 102. Grants of a revenue nature are recognised in “other income” within profit or loss in the same period as the related expenditure.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the statement of financial position 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.

 

V21 (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

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:

Asset class

Depreciation method and rate

Fixtures and fittings

25% reducing balance

Trade debtors

Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and bank deposits.

Trade creditors

Short term creditors are measured at the transaction price.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Employee benefits

Short-term employee benefits are recognised as an expense in the period which they are incurred.

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

V21 (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Fixtures and fittings
£

Total
£

Cost or valuation

At 1 April 2023

883

883

Additions

573

573

At 31 March 2024

1,456

1,456

Depreciation

At 1 April 2023

329

329

Charge for the year

282

282

At 31 March 2024

611

611

Carrying amount

At 31 March 2024

845

845

At 31 March 2023

554

554

5

Other financial assets (current and non-current)

Financial assets at fair value through profit and loss
£

Total
£

Non-current financial assets

Cost or valuation

At 1 April 2023

34,057

34,057

Fair value adjustments

5,793

5,793

Disposals

(22,587)

(22,587)

At 31 March 2024

17,263

17,263

Carrying amount

At 31 March 2024

17,263

17,263

 

V21 (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

6

Debtors

2024
£

2023
£

Trade debtors

11,440

12,303

Other debtors

3,377

1,637

14,817

13,940

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Bank loans and overdrafts

8

3,094

3,018

Taxation and social security

 

19,448

11,413

Accruals and deferred income

 

1,550

720

Other creditors

 

8,896

17,568

 

32,988

32,719

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Loans and borrowings

8

17,568

20,661


Creditors include a bank loan repayable by instalments of £4,392 (2022: £4,391) due after more than five years.

8

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

17,568

20,661

2024
£

2023
£

Current loans and borrowings

Bank borrowings

3,094

3,018

9

Financial commitments, guarantees and contingencies

Amounts not provided for in the statement of financial position

The total amount of financial commitments not included in the statement of financial position is £12,793 (2023 - £1,762). The commitment is in respect of a vehicle rental agreement and represents 27 months at £473.83 per month (2023 - 5 months at £352.36 per month).