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REGISTERED NUMBER: 11600281 (England and Wales)











FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

VESPA CONTRACTS LTD

VESPA CONTRACTS LTD (REGISTERED NUMBER: 11600281)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


VESPA CONTRACTS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: L A Hunt
R A Griffiths





SECRETARY: J A Hunt





REGISTERED OFFICE: Medina House
2 Station Avenue
Bridlington
East Yorkshire
YO16 4LZ





REGISTERED NUMBER: 11600281 (England and Wales)





ACCOUNTANTS: Lloyd Dowson Limited
Medina House
2 Station Avenue
Bridlington
East Yorkshire
YO16 4LZ

VESPA CONTRACTS LTD (REGISTERED NUMBER: 11600281)

BALANCE SHEET
30 JUNE 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 18,269 21,782

CURRENT ASSETS
Stocks 130,000 63,000
Debtors 5 2,205 46,724
Cash at bank and in hand 446 2,532
132,651 112,256
CREDITORS
Amounts falling due within one year 6 146,446 69,249
NET CURRENT (LIABILITIES)/ASSETS (13,795 ) 43,007
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,474

64,789

CREDITORS
Amounts falling due after more than one
year

7

(2,957

)

(7,086

)

PROVISIONS FOR LIABILITIES - (4,139 )
NET ASSETS 1,517 53,564

CAPITAL AND RESERVES
Called up share capital 9 10 10
Retained earnings 1,507 53,554
SHAREHOLDERS' FUNDS 1,517 53,564

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

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

VESPA CONTRACTS LTD (REGISTERED NUMBER: 11600281)

BALANCE SHEET - continued
30 JUNE 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 February 2025 and were signed on its behalf by:




L A Hunt - Director



R A Griffiths - Director


VESPA CONTRACTS LTD (REGISTERED NUMBER: 11600281)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

Vespa Contracts Ltd 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.

Due to the continued support of the company's directors, the accounts have been prepared using the going concern basis.

Turnover
Turnover is derived from joinery instillation sales excluding discounts, rebates, value added tax and other taxes and is recognised upon fulfilment of rights and obligations.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 10% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 20% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

VESPA CONTRACTS LTD (REGISTERED NUMBER: 11600281)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the statement of income and retained earnings over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates an auto-enrolment pension scheme. Contributions payable to the company's pension scheme are charged to the statement of income and retained earnings in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 6 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2023
and 30 June 2024 25,041
DEPRECIATION
At 1 July 2023 3,259
Charge for year 3,513
At 30 June 2024 6,772
NET BOOK VALUE
At 30 June 2024 18,269
At 30 June 2023 21,782


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 1,974 45,856
Other debtors 231 868
2,205 46,724

VESPA CONTRACTS LTD (REGISTERED NUMBER: 11600281)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Hire purchase contracts 4,130 3,740
Trade creditors 10,294 19,517
Amounts owed to associates 87,250 -
Taxation and social security 23,528 17,343
Other creditors 21,244 28,649
146,446 69,249

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.24 30.6.23
£    £   
Hire purchase contracts 2,957 7,086

8. SECURED DEBTS

The following secured debts are included within creditors:

30.6.24 30.6.23
£    £   
Hire purchase contracts 7,087 10,826

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.24 30.6.23
value: £    £   
10 ordinary £1 10 10