Registered number
10223041
Veeleisure.com Ltd
Report and Accounts
30 June 2024
Veeleisure.com Ltd
Company Information
Directors
Chris Farrell
Greenpiste Sports Ltd
Accountants
Fairview Accountax Ltd
Iveco House
Station Road
Watford
Hertfordshire
WD17 1ET
Registered office
13 Kingsfield Road
Watford
WD19 4PP
Registered number
10223041
Veeleisure.com Ltd
Registered number: 10223041
Directors' Report
The directors present their report and accounts for the year ended 30 June 2024.
Principal activities
The company's principal activity during the year was retail sale of sports goods.
Directors
The following persons served as directors during the year:
Chris Farrell
Greenpiste Sports Ltd
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on 03/12/2025 and signed on its behalf:
Chris Farrell
Director
Veeleisure.com Ltd
Profit and Loss Account
for the year ended 30 June 2024
2024 2023
£ £
Turnover 522,622 340,237
Cost of sales (481,009) (284,322)
Gross profit 41,613 55,915
Administrative expenses (19,435) (36,102)
Operating profit 22,178 19,813
Profit before taxation 22,178 19,813
Tax on profit (3,099) -
Profit for the financial year 19,079 19,813
Veeleisure.com Ltd
Registered number: 10223041
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 - 133
Current assets
Stocks 54,873 37,922
Debtors 4 8,261 5,330
Cash at bank and in hand 19,124 18,109
82,258 61,361
Creditors: amounts falling due within one year 5 (82,200) (44,497)
Net current assets 58 16,864
Net assets 58 16,997
Capital and reserves
Called up share capital 3 3
Profit and loss account 55 16,994
Shareholders' funds 58 16,997
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Chris Farrell
Director
Approved by the board on 12 March 2025
Veeleisure.com Ltd
Statement of Changes in Equity
for the year ended 30 June 2024
Share Profit Total
capital and loss
account
£ £ £
At 1 July 2022 3 181 184
Profit for the financial year 19,813 19,813
Dividends (3,000) (3,000)
At 30 June 2023 3 16,994 16,997
At 1 July 2023 3 16,994 16,997
Profit for the financial year 19,079 19,079
Dividends (36,018) (36,018)
At 30 June 2024 3 55 58
Veeleisure.com Ltd
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Office Equipment 25% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Office Equipment
£
Cost
At 1 July 2023 538
At 30 June 2024 538
Depreciation
At 1 July 2023 405
Charge for the year 133
At 30 June 2024 538
Net book value
At 30 June 2024 -
At 30 June 2023 133
4 Debtors 2024 2023
£ £
Trade debtors 5,111 2,869
Taxation and social security costs 197 197
Other debtors 2,953 2,264
8,261 5,330
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 23,314 6,880
Amounts owed to group undertakings and undertakings in which the company has a participating interest 49,924 23,912
Taxation and social security costs 8,192 7,455
Other creditors 770 6,250
82,200 44,497
6 Controlling party
The Ultimate controlling party is Greenpiste Sports Ltd who owns 66% of the company shareholding.
Greenpiste Sports Ltd is a private company limited by shares and incorporated in England. Its registeres office is:
3 forge Mews, Church Street
Rickmansworth
WD3 1DH
7 Other information
Veeleisure.com Ltd is a private company limited by shares and incorporated in England. Its registered office is:
13 Kingsfield Road
Watford
WD19 4PP
Veeleisure.com Ltd 10223041 false 2023-07-01 2024-06-30 2024-06-30 VT Final Accounts April 2024 10223041 2022-07-01 2023-06-30 10223041 bus:AllOrdinaryShares core:RetainedEarningsAccumulatedLosses 2022-07-01 2023-06-30 10223041 core:WithinOneYear 2023-06-30 10223041 core:ShareCapital 2023-06-30 10223041 core:RetainedEarningsAccumulatedLosses 2023-06-30 10223041 2022-06-30 10223041 core:ShareCapital 2022-06-30 10223041 core:RetainedEarningsAccumulatedLosses 2022-06-30 10223041 2023-07-01 2024-06-30 10223041 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 10223041 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 10223041 bus:Director1 2023-07-01 2024-06-30 10223041 bus:Director2 2023-07-01 2024-06-30 10223041 core:RetainedEarningsAccumulatedLosses 2023-07-01 2024-06-30 10223041 bus:AllOrdinaryShares core:RetainedEarningsAccumulatedLosses 2023-07-01 2024-06-30 10223041 1 2023-07-01 2024-06-30 10223041 2 2023-07-01 2024-06-30 10223041 core:PlantMachinery 2023-07-01 2024-06-30 10223041 countries:England 2023-07-01 2024-06-30 10223041 bus:FRS102 2023-07-01 2024-06-30 10223041 bus:FullAccounts 2023-07-01 2024-06-30 10223041 2024-06-30 10223041 core:WithinOneYear 2024-06-30 10223041 core:ShareCapital 2024-06-30 10223041 core:RetainedEarningsAccumulatedLosses 2024-06-30 10223041 core:PlantMachinery 2024-06-30 10223041 2023-06-30 10223041 core:PlantMachinery 2023-06-30 iso4217:GBP xbrli:pure