10847495falseDesign Systems2023-05-012024-04-30http://www.companieshouse.gov.uk/2023-04-30http://www.companieshouse.gov.uk/pt:ShareCapital2023-04-30http://www.companieshouse.gov.uk/cd:Director12023-05-012024-04-30http://www.companieshouse.gov.uk/pt:ShareCapital2024-04-30http://www.companieshouse.gov.uk/cd:OrdinaryShareClass12023-05-012024-04-30http://www.companieshouse.gov.uk/cd:RegisteredOffice2023-05-012024-04-30http://www.companieshouse.gov.uk/cd:AuditExemptWithAccountantsReport2023-05-012024-04-30http://www.companieshouse.gov.uk/pt:CurrentFinancialInstruments2024-04-30http://www.companieshouse.gov.uk/pt:CurrentFinancialInstruments2023-04-30http://www.companieshouse.gov.uk/2023-05-012024-04-30http://www.companieshouse.gov.uk/2023-04-30http://www.companieshouse.gov.uk/cd:FRS1022023-05-012024-04-30http://www.companieshouse.gov.uk/2024-04-30http://www.companieshouse.gov.uk/cd:FullAccounts2023-05-012024-04-30http://www.companieshouse.gov.uk/cd:PrivateLimitedCompanyLtd2023-05-012024-04-30iso4217:GBPxbrli:sharesxbrli:pure
Registered number: 10847495
VM Systems Ltd
ACCOUNTS
FOR THE YEAR ENDED 30/04/2024
Prepared By:
Lindrick Accountancy Services Ltd
205 Outgang Lane
Dinnington
Sheffield
S25 3QY
VM Systems Ltd
ACCOUNTS
FOR THE YEAR ENDED 30/04/2024
DIRECTORS
Alistair Law
REGISTERED OFFICE
Unit 6, 16 Dartmouth Park Hill
London
NW5 1HL
COMPANY DETAILS
Private company limited by shares registered in EW - England and Wales, registered number 10847495
ACCOUNTANTS
Lindrick Accountancy Services Ltd
205 Outgang Lane
Dinnington
Sheffield
S25 3QY
VM Systems Ltd
ACCOUNTS
FOR THEYEARENDED30/04/2024
CONTENTS
Page
Directors' Report-
Accountants' Report-
Statement Of Comprehensive Income-
Balance Sheet3
Notes To The Accounts4
The following do not form part of the statutory financial statements:
Trading And Profit And Loss Account-
Profit And Loss Account Summaries-
VM Systems Ltd
BALANCE SHEET AT 30/04/2024
20242023
Notes££
FIXED ASSETS
Tangible assets385,8016,981
CURRENT ASSETS
Stock28,618-
Debtors517,15166,230
Cash at bank and in hand138,74144,748
184,510110,978
CREDITORS: Amounts falling due within one year637,550141,262
NET CURRENT ASSETS / (LIABILITIES)146,960(30,284)
TOTAL ASSETS LESS CURRENT LIABILITIES232,761(23,303)
CREDITORS: Amounts falling due after more than one year7403,744-
NET LIABILITIES(170,983)(23,303)
CAPITAL AND RESERVES
Called up share capital8100100
Profit and loss account(171,083)(23,403)
SHAREHOLDERS' FUNDS(170,983)(23,303)
For the year ending 30/04/2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on 30/01/2025 and signed on their behalf by
.............................
Alistair Law
Director
VM Systems Ltd
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 30/04/2024
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 .
1b. Going Concern
These financial statements have not been prepared on the going concern basis. The directors acknowledge the net liabilities of £170,983 (2023 - £30,284) but the company is able to continue to meet it's liabilities as they fall due thanks to the ongoing support of its partent company
1c. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Plant And Machineryreducing balance25%
Fixtures And Fittingsreducing balance25%
Equipmentreducing balance25%
1d. Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.
1e. Pension Costs
The company operates a defined contribution pension scheme. The pension charge represents the amounts payable by the company to the fund in respect of the year.
1f. Foreign Currency
Transactions in currencies, other than the functional currency of the company, are recorded at the rate of the exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. All differences are taken to the profit and loss account. Non-monetary items that are measured at the historic cost in a foreign currency are not retranslated.
VM Systems Ltd
2. EMPLOYEES
20242023
No.No.
Average number of employees72
3. TANGIBLE FIXED ASSETS
Plant and
Machinery Etc.Total
££
Cost
At 01/05/202310,78210,782
Additions84,32984,329
At 30/04/202495,11195,111
Depreciation
At 01/05/20233,8013,801
For the year5,5095,509
At 30/04/20249,3109,310
Net Book Amounts
At 30/04/202485,80185,801
At 30/04/20236,9816,981
4. STOCK 20242023
££
Stock comprises:
Stock28,618-
28,618-
5. DEBTORS 20242023
££
Amounts falling due within one year:
Trade debtors8,92763,694
VAT3,134-
Other debtors5,0902,536
17,15166,230
VM Systems Ltd
6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20242023
££
Trade creditors35,21517,188
Amounts owed to group undertakings and undertakings in which the company has a participating interest-103,744
Taxation and social security-13,124
Other creditors2,3357,206
37,550141,262
7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
20242023
££
Amounts owed to group undertakings and undertakings in which the company has a particpating interest403,744-
403,744-
8. SHARE CAPITAL 20242023
££
Allotted, issued and fully paid:
100 Ordinary shares of £1 each100100
100100
9. CONTROLLING PARTY
VM Systems Limited is a wholly owned subsidiary of Vertical Meadow Limited a company incorporated in the UK.