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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
Page
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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
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VREO INNOVATION LIMITED Statement of financial position as at 31 July 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
13,268 
5,343 
Current assets
Inventories
157,616 
133,725 
Debtors
95,426 
92,626 
Cash at bank and in hand
20,338 
21,026 
273,380 
247,377 
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 
Capital and reserves
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
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VREO INNOVATION LIMITED Notes to the Accounts for the year ended 31 July 2024
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
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
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 
£ 
Cost
At 1 August 2023
14,000 
At 31 July 2024
14,000 
Amortisation
At 1 August 2023
14,000 
At 31 July 2024
14,000 
Net book value
At 31 July 2024
- 
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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 
Depreciation
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 
Net book value
At 31 July 2024
- 
11,200 
2,068 
13,268 
At 31 July 2023
811 
- 
4,532 
5,343 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
41,541 
87,746 
Accrued income and prepayments
53,565 
- 
95,106 
87,746 
Amounts falling due after more than one year
Other debtors
320 
4,880 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
12,800 
- 
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 
134,228 
90,066 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
17,664 
39,074 
9
Average number of employees
During the year the average number of employees was 3 (2023: 3).
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