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Registered number: 5443471
Velodream Limited
Financial Statements
For The Year Ended 31 May 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3
Page 1
Balance Sheet
Registered number: 5443471
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 140,265 140,424
140,265 140,424
CURRENT ASSETS
Cash at bank and in hand 475 991
475 991
Creditors: Amounts Falling Due Within One Year 5 (502 ) (475 )
NET CURRENT ASSETS (LIABILITIES) (27 ) 516
TOTAL ASSETS LESS CURRENT LIABILITIES 140,238 140,940
Creditors: Amounts Falling Due After More Than One Year 6 (177,277 ) (172,101 )
NET LIABILITIES (37,039 ) (31,161 )
CAPITAL AND RESERVES
Called up share capital 1 1
Profit and Loss Account (37,040 ) (31,162 )
SHAREHOLDERS' FUNDS (37,039) (31,161)
Page 1
Page 2
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
R Barber
Director
7 February 2025
The notes on page 3 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Velodream Limited is a private company, limited by shares, incorporated in England & Wales, registered number 5443471 . The registered office is Marine House, 151 Western Road, Haywards Heath, West Sussex, RH16 3LH.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold nil
Plant & Machinery 25% reducing balance
Computer Equipment 25% reducing balance
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Computer Equipment Total
£ £ £ £
Cost
As at 1 June 2023 139,791 3,944 3,395 147,130
As at 31 May 2024 139,791 3,944 3,395 147,130
Depreciation
As at 1 June 2023 - 3,478 3,228 6,706
Provided during the period - 117 42 159
As at 31 May 2024 - 3,595 3,270 6,865
Net Book Value
As at 31 May 2024 139,791 349 125 140,265
As at 1 June 2023 139,791 466 167 140,424
5. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Other creditors 502 475
6. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other creditors 177,277 172,101
Page 3