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Registration number: 11476758

VEC Group Limited

Unaudited Filleted Abridged Financial Statements

for the Year Ended 28 March 2024

 

VEC Group Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 8

 

VEC Group Limited

Company Information

Directors

Mr PT Campbell

Mr SJ Campbell

Mr PG Campbell

Registered office

400 Longmoor Lane
Fazakerly
Liverpool
Merseyside
L9 9DB

Accountants

Williamson Croft (Liverpool) Ltd
Chartered Certified Accountants
1 Old Hall Street
1st Floor
Liverpool
L3 9HF

 

VEC Group Limited

(Registration number: 11476758)
Abridged Balance Sheet as at 28 March 2024

Note

2024
£

2023
£

Fixed assets

 

Investments

4

453

337

Current assets

 

Debtors

5

1,237,676

-

Cash at bank and in hand

 

434,997

45,000

 

1,672,673

45,000

Creditors: Amounts falling due within one year

(873,564)

(45,334)

Net current assets/(liabilities)

 

799,109

(334)

Total assets less current liabilities

 

799,562

3

Accruals and deferred income

 

(798)

-

Net assets

 

798,764

3

Capital and reserves

 

Called up share capital

6

3

3

Retained earnings

798,761

-

Shareholders' funds

 

798,764

3

For the financial year ending 28 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 special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 24 December 2024 and signed on its behalf by:
 

 

VEC Group Limited

(Registration number: 11476758)
Abridged Balance Sheet as at 28 March 2024

.........................................
Mr PT Campbell
Director

 

VEC Group Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 28 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:
400 Longmoor Lane
Fazakerly
Liverpool
Merseyside
L9 9DB

These financial statements were authorised for issue by the Board on 24 December 2024.

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 abridged 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 abridged 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.

Going concern

The financial statements have been prepared on a going concern basis.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

 

VEC Group Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 28 March 2024

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 3).

4

Investments

 

VEC Group Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 28 March 2024

Total
£

Cost or valuation

At 29 March 2023

337

Additions

116

At 28 March 2024

453

Provision

Carrying amount

At 28 March 2024

453

At 28 March 2023

337

2024
£

2023
£

5

Debtors

Debtors includes £Nil (2023 - £Nil) due after more than one year.

6

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

3

3

3

3

       

7

Dividends

2024

2023

£

£

 

 

8

Transition to FRS 102

Balance Sheet at 29 March 2022
 

 

VEC Group Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 28 March 2024

As originally reported
£

Reclassification
£

Remeasurement
£

As restated
£

Capital and reserves

Total equity

-

-

-

-

 

VEC Group Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 28 March 2024

Balance Sheet at 28 March 2023
 

As originally reported
£

Reclassification
£

Remeasurement
£

As restated
£

Capital and reserves

Total equity

-

-

-

-