VWS Trading Limited 09174540 false 2023-09-01 2024-08-31 2024-08-31 The principal activity of the company is wholesale of vintage clothing and accessories Digita Accounts Production Advanced 6.30.9574.0 true 09174540 2023-09-01 2024-08-31 09174540 2024-08-31 09174540 bus:OrdinaryShareClass1 2024-08-31 09174540 core:CurrentFinancialInstruments 2024-08-31 09174540 core:CurrentFinancialInstruments core:WithinOneYear 2024-08-31 09174540 core:Non-currentFinancialInstruments core:AfterOneYear 2024-08-31 09174540 core:FurnitureFittingsToolsEquipment 2024-08-31 09174540 core:LandBuildings 2024-08-31 09174540 bus:SmallEntities 2023-09-01 2024-08-31 09174540 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 09174540 bus:FilletedAccounts 2023-09-01 2024-08-31 09174540 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 09174540 bus:RegisteredOffice 2023-09-01 2024-08-31 09174540 bus:Director2 2023-09-01 2024-08-31 09174540 bus:OrdinaryShareClass1 2023-09-01 2024-08-31 09174540 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 09174540 core:FurnitureFittingsToolsEquipment 2023-09-01 2024-08-31 09174540 core:LandBuildings 2023-09-01 2024-08-31 09174540 core:LeaseholdImprovements 2023-09-01 2024-08-31 09174540 core:OtherRelatedParties 2023-09-01 2024-08-31 09174540 countries:EnglandWales 2023-09-01 2024-08-31 09174540 2023-08-31 09174540 core:FurnitureFittingsToolsEquipment 2023-08-31 09174540 core:LandBuildings 2023-08-31 09174540 2022-09-01 2023-08-31 09174540 2023-08-31 09174540 bus:OrdinaryShareClass1 2023-08-31 09174540 core:CurrentFinancialInstruments 2023-08-31 09174540 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 09174540 core:Non-currentFinancialInstruments core:AfterOneYear 2023-08-31 09174540 core:FurnitureFittingsToolsEquipment 2023-08-31 09174540 core:LandBuildings 2023-08-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 09174540

VWS Trading Limited

Filleted Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 August 2024

 

VWS Trading Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 7

 

VWS Trading Limited

Company Information




 

Director

Mrs M Phillips

Registered office

Unit 1 Senlan Industrial Estate
Rhymney Bridge Road
Cardiff
United Kingdom
CF23 9AF

Accountants

HSJ Accountants Ltd
Severn House
Hazell Drive
Newport
South Wales
NP10 8FY

 

VWS Trading Limited

(Registration number: 09174540)
Abridged Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

7,781

6,612

Current assets

 

Stocks

135,000

92,756

Debtors

254,685

103,006

Cash at bank and in hand

 

11,301

37,100

 

400,986

232,862

Prepayments and accrued income

 

8,043

10,542

Creditors: Amounts falling due within one year

(389,966)

(237,456)

Net current assets

 

19,063

5,948

Total assets less current liabilities

 

26,844

12,560

Creditors: Amounts falling due after more than one year

(7,170)

(17,423)

Net assets/(liabilities)

 

19,674

(4,863)

Capital and reserves

 

Called up share capital

6

100

100

Retained earnings

19,574

(4,963)

Shareholders' funds/(deficit)

 

19,674

(4,863)

 

VWS Trading Limited

(Registration number: 09174540)
Abridged Balance Sheet as at 31 August 2024

For the financial year ending 31 August 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 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 director acknowledges her 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 31 January 2025
 

.........................................

Mrs M Phillips
Director

 

VWS Trading Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 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:
Unit 1 Senlan Industrial Estate
Rhymney Bridge Road
Cardiff
United Kingdom
CF23 9AF

These financial statements were authorised for issue by the director on 31 January 2025.

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

VWS Trading Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2024

Asset class

Depreciation method and rate

Property improvements

10% Straight line

Fixtures, fittings and equipment

20% Straight line

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

 

VWS Trading Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 22 (2023 - 4).

4

Profit/loss before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

1,804

1,153

 

VWS Trading Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2024

5

Tangible assets

Property improvements
£

Fixtures, fittings and equipment
£

Total
£

Cost or valuation

At 1 September 2023

8,251

7,085

15,336

Additions

-

2,974

2,974

At 31 August 2024

8,251

10,059

18,310

Depreciation

At 1 September 2023

4,304

4,421

8,725

Charge for the year

825

979

1,804

At 31 August 2024

5,129

5,400

10,529

Carrying amount

At 31 August 2024

3,122

4,659

7,781

At 31 August 2023

3,947

2,665

6,612

6

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       

7

Related party transactions

Other transactions with the director

During the year the director made unsecured, interest free, repayable on demand loans to the company. At the balance sheet date the amount due to the director was £54,701 (2023 - £47,279).

Summary of transactions with other related parties

During the year the company received management fees of £42,000 (2023 - £nil) from related parties. During the year the company made interest free, unsecured, repayable on demand loans to and from related companies. At the balance sheet date, the amount due from the companies was £40,904 (2023 - £63,171).