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REGISTERED NUMBER: 06433241 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

V1 Engineering Limited

V1 Engineering Limited (Registered number: 06433241)

Contents of the Financial Statements
for the Year Ended 31 March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


V1 Engineering Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: V T Hitchen
C Hitchen





SECRETARY: Mrs J Hitchen





REGISTERED OFFICE: Unit 12
Mill Lane
Boothtown
Halifax
West Yorkshire
HX3 6TR





REGISTERED NUMBER: 06433241 (England and Wales)





ACCOUNTANTS: Horley Green Chartered Accountants
Horley Green House
Horley Green Road
Claremount
Halifax
West Yorkshire
HX3 6AS

V1 Engineering Limited (Registered number: 06433241)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 50,000 50,000
Tangible assets 5 25,726 48,715
75,726 98,715

CURRENT ASSETS
Debtors 6 144,484 156,784
Cash at bank and in hand 203,337 193,838
347,821 350,622
CREDITORS
Amounts falling due within one year 7 105,796 100,464
NET CURRENT ASSETS 242,025 250,158
TOTAL ASSETS LESS CURRENT
LIABILITIES

317,751

348,873

CREDITORS
Amounts falling due after more than one year 8 30,943 40,821
NET ASSETS 286,808 308,052

CAPITAL AND RESERVES
Called up share capital 500 500
Retained earnings 286,308 307,552
286,808 308,052

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

V1 Engineering Limited (Registered number: 06433241)

Balance Sheet - continued
31 March 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 December 2024 and were signed on its behalf by:





C Hitchen - Director


V1 Engineering Limited (Registered number: 06433241)

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


1. STATUTORY INFORMATION

V1 Engineering 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.

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 net amount receivable for goods supplied and services provided, excluding value added tax, except in respect of service contracts where turnover is recognised when the company obtains the right to consideration.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil 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.
Plant and machinery - 15% on cost
Fixtures and fittings - 15% on cost
Motor vehicles - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

V1 Engineering Limited (Registered number: 06433241)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 50,000
NET BOOK VALUE
At 31 March 2024 50,000
At 31 March 2023 50,000

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 April 2023
and 31 March 2024 228,742 1,170 61,110 291,022
DEPRECIATION
At 1 April 2023 214,222 381 27,704 242,307
Charge for year 14,520 118 8,351 22,989
At 31 March 2024 228,742 499 36,055 265,296
NET BOOK VALUE
At 31 March 2024 - 671 25,055 25,726
At 31 March 2023 14,520 789 33,406 48,715

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 144,484 156,784

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 25,239 31,809
Tax 40,411 29,034
VAT 36,396 35,871
Accrued expenses 3,750 3,750
105,796 100,464

V1 Engineering Limited (Registered number: 06433241)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans 30,943 40,821

9. RELATED PARTY DISCLOSURES

The company is controlled by the company director.