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REGISTERED NUMBER: SC132864 (Scotland)















Unaudited Financial Statements for the Year Ended 30 April 2024

for

VIP-System Limited

VIP-System Limited (Registered number: SC132864)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


VIP-System Limited

Company Information
for the Year Ended 30 April 2024







DIRECTORS: D A McGrouther
Mrs B McGrouther
A McGrouther





SECRETARY: Mrs B McGrouther





REGISTERED OFFICE: Unit 2
15 North Avenue
Clydebank Business Park
Clydebank
Glasgow
G81 2QP





REGISTERED NUMBER: SC132864 (Scotland)





ACCOUNTANTS: Graham & Co. (Accountants) Limited
76 Dumbarton Road
Clydebank
Glasgow
G81 1UG

VIP-System Limited (Registered number: SC132864)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 226,182 246,574

CURRENT ASSETS
Stocks 145,000 142,000
Debtors 5 3,393,332 2,764,705
Cash at bank 65,964 68,547
3,604,296 2,975,252
CREDITORS
Amounts falling due within one year 6 607,395 461,336
NET CURRENT ASSETS 2,996,901 2,513,916
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,223,083

2,760,490

PROVISIONS FOR LIABILITIES 44,930 47,992
NET ASSETS 3,178,153 2,712,498

CAPITAL AND RESERVES
Called up share capital 40,000 40,000
Retained earnings 3,138,153 2,672,498
SHAREHOLDERS' FUNDS 3,178,153 2,712,498

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

VIP-System Limited (Registered number: SC132864)

Balance Sheet - continued
30 April 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 29 January 2025 and were signed on its behalf by:





A McGrouther - Director


VIP-System Limited (Registered number: SC132864)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

VIP-System Limited is a private company, limited by shares , registered in Scotland. 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.

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, 20% on cost and 15% on cost

Impairment of fixed assets

At each reporting period end date the company reviews the carrying amounts of its tangible fixed assets
to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the assets is estimated in order to determine the extent of the impairment loss (if any).

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

VIP-System Limited (Registered number: SC132864)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 May 2023 987,431
Additions 47,695
At 30 April 2024 1,035,126
DEPRECIATION
At 1 May 2023 740,857
Charge for year 68,087
At 30 April 2024 808,944
NET BOOK VALUE
At 30 April 2024 226,182
At 30 April 2023 246,574

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 603,305 483,371
Amounts owed by group undertakings 2,691,818 2,279,028
Other debtors 98,209 2,306
3,393,332 2,764,705

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade creditors 173,986 183,935
Taxation and social security 278,660 171,397
Other creditors 154,749 106,004
607,395 461,336

7. CONTINGENT LIABILITIES

The company is party to an unlimited inter-company cross guarantee with other trading group companies for all sums owed to the bank. The guarantee is supported by the various securities disclosed within the financial statements of the parent company. At the balance sheet date, the total amount owed to the bank which is covered by the guarantee amount is £NIL (2023 - £NIL).

VIP-System Limited (Registered number: SC132864)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

8. RELATED PARTY DISCLOSURES

At 30 April 2024 debtors included an amount of £2,691,818 due by Dunhill and McGrouther Ltd (2023 - £2,279,028). Dunhill McGrouther charged VIP System Ltd £810,000 for management services (2023 - £520,000).

VIP System is a wholly owned subsidiary of Dunhill and McGrouther Ltd. Mr D McGrouther, Mrs B McGrouther and Mr A McGrouther are directors of Dunhill and McGrouther Ltd and VIP System Ltd.

In the year to 30 April 2024 Presentation Technology Ltd charged VIP System Ltd £51,762 (2023 - £45,245) for software development. Presentation Technology Ltd is owned by director, Mr A McGrouther.

9. ULTIMATE CONTROLLING PARTY

VIP System Ltd is a wholly owned subsidiary of Dunhill & McGrouther Ltd. The ultimate controlling parties are Mr & Mrs D McGrouther.