Acorah Software Products - Accounts Production 16.1.300 false true 31 July 2023 1 August 2022 false 1 August 2023 31 July 2024 31 July 2024 09674229 Mr Paul Cheeseman the director, Mr P Cheeseman true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09674229 2023-07-31 09674229 2024-07-31 09674229 2023-08-01 2024-07-31 09674229 frs-core:CurrentFinancialInstruments 2024-07-31 09674229 frs-core:Non-currentFinancialInstruments 2024-07-31 09674229 frs-core:FurnitureFittings 2024-07-31 09674229 frs-core:FurnitureFittings 2023-08-01 2024-07-31 09674229 frs-core:FurnitureFittings 2023-07-31 09674229 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-07-31 09674229 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-08-01 2024-07-31 09674229 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-07-31 09674229 frs-core:PlantMachinery 2024-07-31 09674229 frs-core:PlantMachinery 2023-08-01 2024-07-31 09674229 frs-core:PlantMachinery 2023-07-31 09674229 frs-core:ShareCapital 2024-07-31 09674229 frs-core:RetainedEarningsAccumulatedLosses 2024-07-31 09674229 frs-bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 09674229 frs-bus:FilletedAccounts 2023-08-01 2024-07-31 09674229 frs-bus:SmallEntities 2023-08-01 2024-07-31 09674229 frs-bus:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 09674229 frs-bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 09674229 1 2023-08-01 2024-07-31 09674229 frs-bus:Director1 2023-08-01 2024-07-31 09674229 frs-countries:EnglandWales 2023-08-01 2024-07-31 09674229 2022-07-31 09674229 2023-07-31 09674229 2022-08-01 2023-07-31 09674229 frs-core:CurrentFinancialInstruments 2023-07-31 09674229 frs-core:Non-currentFinancialInstruments 2023-07-31 09674229 frs-core:ShareCapital 2023-07-31 09674229 frs-core:RetainedEarningsAccumulatedLosses 2023-07-31
Registered number: 09674229
Vantage Parts Ltd
Unaudited Financial Statements
For The Year Ended 31 July 2024
JENNIFER M RICHARDSON LIMITED
32 Station Road
Rainham
Gillingham
Kent
ME8 7PH
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 09674229
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 6,022 5,516
6,022 5,516
CURRENT ASSETS
Stocks 5 195,000 198,500
Debtors 6 946 1,021
Cash at bank and in hand 11,618 1,679
207,564 201,200
Creditors: Amounts Falling Due Within One Year 7 (128,841 ) (123,532 )
NET CURRENT ASSETS (LIABILITIES) 78,723 77,668
TOTAL ASSETS LESS CURRENT LIABILITIES 84,745 83,184
Creditors: Amounts Falling Due After More Than One Year 8 (4,138 ) (8,287 )
NET ASSETS 80,607 74,897
CAPITAL AND RESERVES
Called up share capital 9 1 1
Profit and Loss Account 80,606 74,896
SHAREHOLDERS' FUNDS 80,607 74,897
Page 1
Page 2
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 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
Mr Paul Cheeseman
Director
03/01/2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Vantage Parts Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09674229 . The registered office is 32 Station Road, Rainham, Kent, ME8 7PH.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. 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:
Leasehold over the period of the lease
Plant & Machinery 25% on reducing balance
Fixtures & Fittings 25% on reducing balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 August 2023 4,229 9,482 1,374 15,085
Additions - 884 1,000 1,884
As at 31 July 2024 4,229 10,366 2,374 16,969
Depreciation
As at 1 August 2023 845 8,381 343 9,569
Provided during the period 845 275 258 1,378
As at 31 July 2024 1,690 8,656 601 10,947
...CONTINUED
Page 3
Page 4
Net Book Value
As at 31 July 2024 2,539 1,710 1,773 6,022
As at 1 August 2023 3,384 1,101 1,031 5,516
5. Stocks
2024 2023
£ £
Finished goods 195,000 198,500
6. Debtors
2024 2023
£ £
Due within one year
Other debtors 946 1,021
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 382 183
Bank loans and overdrafts 3,990 4,000
Corporation tax 3,098 344
VAT 3,384 462
Other creditors 810 810
Director's loan account 117,177 117,733
128,841 123,532
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 4,138 8,287
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
10. Ultimate Controlling Party
The company's ultimate controlling party is the director, Mr P Cheeseman by virtue of his ownership of 100% of the issued share capital in the company.
Page 4