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REGISTERED NUMBER: 10334379 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

FOR

VECTIS LAW LIMITED

VECTIS LAW LIMITED (REGISTERED NUMBER: 10334379)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


VECTIS LAW LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTOR: Mr O Vincent





REGISTERED OFFICE: The Innovation Centre
St Cross Business Park
Newport
Isle of Wight
PO30 5WB





REGISTERED NUMBER: 10334379 (England and Wales)





ACCOUNTANTS: Gibson Whitter
Chartered Accountants
and Chartered Tax Advisers
Larch House
Parklands Business Park
Denmead
Hampshire
PO7 6XP

VECTIS LAW LIMITED (REGISTERED NUMBER: 10334379)

BALANCE SHEET
31 AUGUST 2024

31.8.24 31.8.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,489 9,989

CURRENT ASSETS
Debtors 5 111,852 81,496
Cash at bank 27,619 1,720
139,471 83,216
CREDITORS
Amounts falling due within one year 6 62,066 23,838
NET CURRENT ASSETS 77,405 59,378
TOTAL ASSETS LESS CURRENT
LIABILITIES

82,894

69,367

PROVISIONS FOR LIABILITIES 8 1,372 1,795
NET ASSETS 81,522 67,572

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 81,422 67,472
SHAREHOLDERS' FUNDS 81,522 67,572

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

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

The director acknowledges his 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.

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 and authorised for issue by the director and authorised for issue on 22 January 2025 and were signed by:




Mr O Vincent - Director


VECTIS LAW LIMITED (REGISTERED NUMBER: 10334379)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1. STATUTORY INFORMATION

Vectis Law 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Other intangible assets have been fully amortised in the current year.

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 etc - 25% on cost

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

VECTIS LAW LIMITED (REGISTERED NUMBER: 10334379)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 September 2023 36,671
Additions 2,337
At 31 August 2024 39,008
DEPRECIATION
At 1 September 2023 26,682
Charge for year 6,837
At 31 August 2024 33,519
NET BOOK VALUE
At 31 August 2024 5,489
At 31 August 2023 9,989

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade debtors 49,415 23,162
Other debtors 62,437 58,334
111,852 81,496

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade creditors 9,754 939
Taxation and social security 51,050 21,637
Other creditors 1,262 1,262
62,066 23,838

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.8.24 31.8.23
£    £   
Within one year 8,502 -
Between one and five years 21,964 -
30,466 -

8. PROVISIONS FOR LIABILITIES
31.8.24 31.8.23
£    £   
Deferred tax 1,372 1,795

VECTIS LAW LIMITED (REGISTERED NUMBER: 10334379)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

8. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 September 2023 1,795
Utilised during year (423 )
Balance at 31 August 2024 1,372

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 August 2024 and 31 August 2023:

31.8.24 31.8.23
£    £   
Mr O Vincent
Balance outstanding at start of year 50,515 118,917
Amounts advanced 78,897 46,899
Amounts repaid (82,561 ) (115,301 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 46,851 50,515

During the year the director paid interest to the company on the overdrawn director's loan account balance. The interest on the overdrawn director's loan account balance for the year was £1,595 (31.8.23: £1,785).

10. RELATED PARTY DISCLOSURES

The aggregate amount owed by the director at the balance sheet date is £46,851 (31.8.23: £50,515).

11. ULTIMATE CONTROLLING PARTY

The controlling party is Mr O Vincent.