Vanquish Expert Solutions Group Limited


FINANCIAL STATEMENTS


for the year ended 29th February 2024



Vanquish Expert Solutions Group Limited

CONTENTS

for the year ended 29th February 2024







The Accounts are comprised of the following:

Statement of Financial Position

Notes to the Accounts



Please note that the Accounts comprise of HTML and iXBRL source code and that this is a printed or visual representation of that source code some of which will not be displayed or printed.

Vanquish Expert Solutions Group Limited

Company No. 07153732

STATEMENT OF FINANCIAL POSITION

as at 29th February 2024

20242023
Note£££
FIXED ASSETS
Property, plant and equipment4518961502351
Financial assets10021002
519963503353
CURRENT ASSETS
Stocks5-7560
Debtors6272628268979
Cash at bank and in hand806436358
353271282897
CURRENT LIABILITIES
Creditors: amounts falling due
within one year7339600251521
NET CURRENT ASSETS1367131376
TOTAL ASSETS LESS CURRENT LIABILITIES533634534729
 
Creditors: amounts falling due
after more than one year8235000240000
 
NET ASSETS298634294729
 
CAPITAL AND RESERVES
Called up share capital104104
Retained earnings298530294625
SHAREHOLDERS FUNDS298634294729

The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies which are subject to the small companies' regime. The Income Statement has not been delivered to the Registrar of Companies.

For the year ended 29th February 2024 the Company is entitled to the exemption from the requirement to obtain an audit conferred by section 477 of the Companies Act 2006 and 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.

Approved by the Board on 16 August 2024


L Greenwood

Director

Company Number 07153732 (England)

Vanquish Expert Solutions Group Limited

NOTES TO THE ACCOUNTS

for the year ended 29th February 2024


1   Statutory information

Vanquish Expert Solutions Group Limited is a private company limited by shares and registered under company number 07153732 in England. Its registered office address is 12 Hatherley Road, Sidcup, Kent, DA14 4DT.

These financial statements are presented in Sterling, which is the functional currency of the company.

2   Accounting policies

Basis of preparation of financial statements

The accounts have been prepared under the historical cost convention in accordance with the accounting policies set out below, and in accordance with Financial Reporting Standard 102 Section 1A and the Companies Act 2006.

Income Recognition

Revenue is measured at the fair value of the consideration received or receivable. Turnover is shown net of value added tax, returns, rebates and discounts. Revenue is recognised for the sale of goods when the vendor has transferred the significant risks and rewards of ownership, it is possible that the economic benefit will flow to the entity and the revenue and associated costs can be reliably measured.

Depreciation

Depreciation is provided on all property, plant and equipment, 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:

Plant, machinery and vehicles25% Reducing Balance

Stocks

Stocks are valued at the lower of cost and expected selling price less any costs to sell.

Leasing

Assets, obtained under hire purchase contracts and finance leases, are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account on a straight line basis.

Pensions

The Company operates a defined contribution pension scheme. Contributions are charged to the Income Statement as they become payable in accordance with the rules of the scheme.

3   Employee information

The average number of employees during the accounting period was 23 (2023 - 23).

4   Property, plant and equipment
 
Plant
Motorand
VehiclesMachineryTotal
£££
Cost
At 1st March 2023 288831257943546774
Additions-2097220972
At 29th February 2024288831278915567746
 
Depreciation
At 1st March 2023 223022212144423
Charge for year271216504362
At 29th February 2024250142377148785
 
Net Book Value
At 29th February 2024263817255144518961
At 28th February 2023266529235822502351
 
Net book value of assets included above held
 under finance leases and hire purchase contracts
 
At 29th February 202459130-59130
At 28th February 202359130-59130

5   Stocks20242023
££
 
Raw materials and consumables-1200
Work in progress-6360
-7560

The difference between purchase price or production cost of stocks and their replacement cost is not material.


6   Debtors20242023
££
 
Trade Debtors214049268979
Amounts owed by group undertakings and undertakings in which the
  Company has a participating interest58579-
272628268979

7   Creditors: amounts falling due within one year20242023
££
 
Loans and Overdrafts1800044942
Obligations under finance lease and hire purchase contracts27212721
Trade Creditors3922855808
Corporation tax41188670
Taxes and social security costs10472799523
Other creditors4166639857
Accruals and deferred income129140-
339600251521

8   Creditors: amounts falling due after one year20242023
££
 
Loans and Overdrafts235000240000
235000240000

9   Loans20242023
££
Analysis of maturity of debt:
 
Within one year1800025000
Between one and five years235000240000
253000265000

10   Transactions with Directors

There were no transactions with Directors except as reflected in the Director's loan account for each Director. The closing balances of each account are as detailed below. Credit balances are shown without brackets. These balances are included in the figure for "Creditors and Accruals" in the accounts. Overdrawn balances are included in the figure for "Other Debtors".

20242023
££
 
L Greenwood754754
754754

11   Subsidiary status

This Company is a direct subsidiary of VGSC Holdings Limited which holds 60% of the voting share capital. It's registered address or principle place of business is at 12 Hatherley Road, Sidcup, Kent DA14 4DT.

2024-02-29false2023-03-012024-02-2907153732uk-bus:Director12023-03-012024-02-2907153732uk-gaap:ShareCapital2024-02-2907153732uk-gaap:ShareCapital2023-02-2807153732uk-gaap:RetainedEarningsAccumulatedLosses2024-02-2907153732uk-gaap:RetainedEarningsAccumulatedLosses2023-02-2807153732uk-gaap:VehiclesPlantMachinery2023-03-012024-02-2907153732uk-gaap:MotorVehicles2023-02-2807153732uk-gaap:PlantMachinery2023-02-2807153732uk-gaap:MotorVehicles2023-03-012024-02-2907153732uk-gaap:PlantMachinery2023-03-012024-02-2907153732uk-gaap:MotorVehicles2024-02-2907153732uk-gaap:PlantMachinery2024-02-2907153732uk-gaap:WithinOneYear2024-02-2907153732uk-gaap:WithinOneYear2023-02-2807153732uk-gaap:AfterOneYear2024-02-2907153732uk-gaap:AfterOneYear2023-02-28071537322023-03-012024-02-29071537322022-03-012023-02-28071537322024-02-29071537322023-02-2807153732uk-bus:SmallEntities2023-03-012024-02-2907153732uk-bus:AuditExempt-NoAccountantsReport2023-03-012024-02-2907153732uk-bus:FullAccounts2023-03-012024-02-2907153732uk-bus:PrivateLimitedCompanyLtd2023-03-012024-02-2907153732countries:EnglandWales2023-03-012024-02-2907153732uk-bus:Director112023-02-2807153732uk-bus:Director112024-02-29iso4217:GBPxbrli:purexbrli:shares