Company Registration No. 9681573 (England and Wales)
VREO INNOVATION LIMITED
Unaudited accounts
for the year ended 31 July 2024
VREO INNOVATION LIMITED
Unaudited accounts
Contents
VREO INNOVATION LIMITED
Company Information
for the year ended 31 July 2024
Directors
Mark William Vernon
Karen Marie Weech
Company Number
9681573 (England and Wales)
Registered Office
ROYAL QUAYS BUSINESS CENTRE COBLE DENE
ROYAL QUAYS
NORTH SHIELDS
TYNE AND WEAR
NE29 6DE
ENGLAND
Accountants
JBC Management Solutions Ltd
5 Dene Park
Ponteland
Newcastle upon Tyne
Northumberland
NE20 9AH
VREO INNOVATION LIMITED
Statement of financial position
as at 31 July 2024
Tangible assets
13,268
5,343
Inventories
157,616
133,725
Cash at bank and in hand
20,338
21,026
Creditors: amounts falling due within one year
(134,228)
(90,066)
Net current assets
139,152
157,311
Total assets less current liabilities
152,420
162,654
Creditors: amounts falling due after more than one year
(17,664)
(39,074)
Net assets
134,756
123,580
Called up share capital
100
100
Profit and loss account
134,656
123,480
Shareholders' funds
134,756
123,580
For the year ending 31 July 2024 the company was entitled to exemption from audit 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 14 February 2025 and were signed on its behalf by
Mark William Vernon
Director
Company Registration No. 9681573
VREO INNOVATION LIMITED
Notes to the Accounts
for the year ended 31 July 2024
VREO INNOVATION LIMITED is a private company, limited by shares, registered in England and Wales, registration number 9681573. The registered office is ROYAL QUAYS BUSINESS CENTRE COBLE DENE, ROYAL QUAYS, NORTH SHIELDS, TYNE AND WEAR, NE29 6DE, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
Straight line over 4 years
Fixtures & fittings
Straight line over 4 years
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Goodwill is amortised at 20% of cost per annum
4
Intangible fixed assets
Goodwill
VREO INNOVATION LIMITED
Notes to the Accounts
for the year ended 31 July 2024
5
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 August 2023
46,032
-
22,056
68,088
Additions
-
14,000
1,382
15,382
At 31 July 2024
46,032
14,000
23,438
83,470
At 1 August 2023
45,221
-
17,524
62,745
Charge for the year
811
2,800
3,846
7,457
At 31 July 2024
46,032
2,800
21,370
70,202
At 31 July 2024
-
11,200
2,068
13,268
At 31 July 2023
811
-
4,532
5,343
Amounts falling due within one year
Trade debtors
41,541
87,746
Accrued income and prepayments
53,565
-
Amounts falling due after more than one year
7
Creditors: amounts falling due within one year
2024
2023
Trade creditors
63,524
39,372
Amounts owed to group undertakings and other participating interests
355
3,000
Taxes and social security
35,130
45,236
Other creditors
22,419
2,458
8
Creditors: amounts falling due after more than one year
2024
2023
9
Average number of employees
During the year the average number of employees was 3 (2023: 3).