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REGISTERED NUMBER: 12426668 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 May 2024

for

VPI Products UK Limited

VPI Products UK Limited (Registered number: 12426668)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


VPI Products UK Limited

Company Information
for the Year Ended 31 May 2024







DIRECTOR: N A Cheek





REGISTERED OFFICE: Russet Grey
Elvet Moor
Durham
County Durham
DH1 3PR





REGISTERED NUMBER: 12426668 (England and Wales)





ACCOUNTANTS: Clive Owen LLP
Chartered Accountants
Kepier House
Belmont Business Park
Durham
DH1 1TW

VPI Products UK Limited (Registered number: 12426668)

Balance Sheet
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 166,205 137,285

CURRENT ASSETS
Stocks 24,000 38,750
Debtors 5 1,136,486 929,340
Cash at bank 723,889 580,889
1,884,375 1,548,979
CREDITORS
Amounts falling due within one year 6 1,152,250 960,845
NET CURRENT ASSETS 732,125 588,134
TOTAL ASSETS LESS CURRENT
LIABILITIES

898,330

725,419

CREDITORS
Amounts falling due after more than one
year

7

(17,735

)

-

PROVISIONS FOR LIABILITIES 10 (41,415 ) (34,207 )
NET ASSETS 839,180 691,212

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 839,080 691,112
SHAREHOLDERS' FUNDS 839,180 691,212

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

VPI Products UK Limited (Registered number: 12426668)

Balance Sheet - continued
31 May 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 17 December 2024 and were signed by:





N A Cheek - Director


VPI Products UK Limited (Registered number: 12426668)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

VPI Products UK Limited 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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 period, and also have been consistently applied within the same accounts.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Income Recognition
Income is recognised at the point which the goods are transferred to the customer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

Tangible fixed assets are measured at cost less accumulated depreciation and impairment.

Stocks
Stocks and work in progress are valued at the lower of cost and selling price less estimated costs to sell, after making due allowance for obsolete and slow moving items.

Financial instruments
Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.


VPI Products UK Limited (Registered number: 12426668)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the year-end date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 profit or loss over the relevant period. The capital element
of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the
lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 6 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 June 2023 82,038 - 76,396 6,762 165,196
Additions 33,974 2,725 30,568 1,166 68,433
At 31 May 2024 116,012 2,725 106,964 7,928 233,629
DEPRECIATION
At 1 June 2023 19,824 - 6,190 1,897 27,911
Charge for year 18,525 424 18,825 1,739 39,513
At 31 May 2024 38,349 424 25,015 3,636 67,424
NET BOOK VALUE
At 31 May 2024 77,663 2,301 81,949 4,292 166,205
At 31 May 2023 62,214 - 70,206 4,865 137,285

VPI Products UK Limited (Registered number: 12426668)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,127,678 903,980
Other debtors 2,136 23,661
Prepayments and accrued income 6,672 1,699
1,136,486 929,340

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 8) 8,370 -
Trade creditors 740,037 620,728
Amounts owed to associates 28,000 40,000
Taxation and social security 329,214 263,456
Other creditors 42,330 30,140
Director's current account 549 2,771
Accruals and deferred income 3,750 3,750
1,152,250 960,845

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts (see note 8) 17,735 -

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 8,370 -
Between one and five years 17,735 -
26,105 -

Non-cancellable operating leases
2024 2023
£    £   
Within one year 7,200 -
Between one and five years 11,300 -
18,500 -

VPI Products UK Limited (Registered number: 12426668)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 26,105 -

Hire purchase contracts are secured on the assets to which they relate.

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 41,415 34,207

Deferred
tax
£   
Balance at 1 June 2023 34,207
Accelerated capital allowances 7,208
Balance at 31 May 2024 41,415

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
65 Ordinary £1 65 65
25 A Ordinary £1 25 25
10 B Ordinary £1 10 10
100 100

12. RELATED PARTY DISCLOSURES

There were no related party transactions other than those concluded under normal market conditions, except for those shown below.


2024 2023
£ £

Amounts due to/(from) director 549 2,771
Amounts due to/(from) shareholder 28,000 40,000
No interest has been charged