Silverfin false false 31/07/2024 01/08/2023 31/07/2024 J Braithwaite 05/06/2001 18 November 2024 The principal activity of the Company during the financial year is that of being a Marina operator and landlord of Marina pontoons, West Quay Road, Poole, together with Marine related consultancy. 04203610 2024-07-31 04203610 bus:Director1 2024-07-31 04203610 2023-07-31 04203610 core:CurrentFinancialInstruments 2024-07-31 04203610 core:CurrentFinancialInstruments 2023-07-31 04203610 core:ShareCapital 2024-07-31 04203610 core:ShareCapital 2023-07-31 04203610 core:RevaluationReserve 2024-07-31 04203610 core:RevaluationReserve 2023-07-31 04203610 core:CapitalRedemptionReserve 2024-07-31 04203610 core:CapitalRedemptionReserve 2023-07-31 04203610 core:RetainedEarningsAccumulatedLosses 2024-07-31 04203610 core:RetainedEarningsAccumulatedLosses 2023-07-31 04203610 core:PlantMachinery 2023-07-31 04203610 core:Vehicles 2023-07-31 04203610 core:PlantMachinery 2024-07-31 04203610 core:Vehicles 2024-07-31 04203610 2023-08-01 2024-07-31 04203610 bus:FilletedAccounts 2023-08-01 2024-07-31 04203610 bus:SmallEntities 2023-08-01 2024-07-31 04203610 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 04203610 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 04203610 bus:Director1 2023-08-01 2024-07-31 04203610 core:PlantMachinery 2023-08-01 2024-07-31 04203610 core:Vehicles 2023-08-01 2024-07-31 04203610 2022-08-01 2023-07-31 iso4217:GBP xbrli:pure

Company No: 04203610 (England and Wales)

V.T.K. LTD.

Unaudited Financial Statements
For the financial year ended 31 July 2024
Pages for filing with the registrar

V.T.K. LTD.

Unaudited Financial Statements

For the financial year ended 31 July 2024

Contents

V.T.K. LTD.

BALANCE SHEET

As at 31 July 2024
V.T.K. LTD.

BALANCE SHEET (continued)

As at 31 July 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 172,651 193,571
172,651 193,571
Current assets
Debtors 4 15,202 12,546
Cash at bank and in hand 446,097 287,754
461,299 300,300
Creditors: amounts falling due within one year 5 ( 90,301) ( 63,876)
Net current assets 370,998 236,424
Total assets less current liabilities 543,649 429,995
Net assets 543,649 429,995
Capital and reserves
Called-up share capital 1 1
Revaluation reserve 73,211 81,346
Capital redemption reserve 1 1
Profit and loss account 470,436 348,647
Total shareholder's funds 543,649 429,995

For the financial year ending 31 July 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of V.T.K. Ltd. (registered number: 04203610) were approved and authorised for issue by the Director on 18 November 2024. They were signed on its behalf by:

J Braithwaite
Director
V.T.K. LTD.

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2024
V.T.K. LTD.

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

V.T.K. Ltd. (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 77 Mudeford, Christchurch, BH23 3NJ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer. Revenue from services is recognised as they are delivered.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Plant and machinery 10 % reducing balance
Vehicles 10 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 3 3

3. Tangible assets

Plant and machinery Vehicles Total
£ £ £
Cost
At 01 August 2023 378,111 35,723 413,834
At 31 July 2024 378,111 35,723 413,834
Accumulated depreciation
At 01 August 2023 215,798 4,465 220,263
Charge for the financial year 16,231 4,689 20,920
At 31 July 2024 232,029 9,154 241,183
Net book value
At 31 July 2024 146,082 26,569 172,651
At 31 July 2023 162,313 31,258 193,571

Revaluation of tangible assets

The fair value of the company's Plant and equipment was revalued on 22 March 2018 by an independent valuer. The name and qualification of the independent valuer are G Aiken MRCIS.

2024 2023
£ £
Historical cost 171,931 171,931
Accumulated depreciation (105,322) (97,920)
Carrying value 66,609 74,011

4. Debtors

2024 2023
£ £
Other debtors 15,202 12,546

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 240 0
Taxation and social security 55,204 26,260
Other creditors 34,857 37,616
90,301 63,876