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COMPANY REGISTRATION NUMBER: 02317273
VERTELLA LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 December 2024
VERTELLA LIMITED
STATEMENT OF FINANCIAL POSITION
31 December 2024
2024
2023
Note
£
£
£
FIXED ASSETS
Tangible assets
6
61,828
62,109
Investments
7
2
2
---------
---------
61,830
62,111
CURRENT ASSETS
Stocks
300,521
265,000
Debtors
8
354,863
346,961
Cash at bank and in hand
312,496
398,611
-----------
--------------
967,880
1,010,572
CREDITORS: amounts falling due within one year
9
628,124
638,789
-----------
--------------
NET CURRENT ASSETS
339,756
371,783
-----------
-----------
TOTAL ASSETS LESS CURRENT LIABILITIES
401,586
433,894
CREDITORS: amounts falling due after more than one year
10
31,521
36,380
PROVISIONS
Taxation including deferred tax
15,457
15,527
-----------
-----------
NET ASSETS
354,608
381,987
-----------
-----------
CAPITAL AND RESERVES
Called up share capital
74
74
Capital redemption reserve
26
26
Profit and loss account
354,508
381,887
-----------
-----------
SHAREHOLDERS FUNDS
354,608
381,987
-----------
-----------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
VERTELLA LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 December 2024
For the year ending 31st December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 17 March 2025 , and are signed on behalf of the board by:
Mr P R Bentley
Mr D R Bentley
Director
Director
Company registration number: 02317273
VERTELLA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31st DECEMBER 2024
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Hornby House, Lansil Industrial Estate, Caton Road, Lancaster, LA1 3PQ.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The entity has taken advantage of the exemption from preparing consolidated financial statements contained in Section 402 of the Companies Act 2006 on the basis that its subsidiaries are excluded from consolidation on the grounds that their inclusion is not material for the purpose of giving a true and fair view.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
5% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Leasehold Property Improvements
-
20% straight line
Plant and Machinery
-
25% straight line
Fixtures and Fittings
-
25% straight line
Motor Vehicles
-
25% straight line
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Defined contribution plans
The company makes contributions to individual employees' personal pension plans and the pension charge represents the amounts payable by the company to the plans in respect of the year.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 15 (2023: 15 ).
5. INTANGIBLE ASSETS
Goodwill
£
Cost
At 1st January 2024 and 31st December 2024
200,173
-----------
Amortisation
At 1st January 2024 and 31st December 2024
200,173
-----------
Carrying amount
At 31st December 2024
-----------
At 31st December 2023
-----------
6. TANGIBLE ASSETS
Leasehold property improve-ments
Plant and machinery
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1st January 2024
6,829
46,856
3,901
120,835
178,421
Additions
1,788
36,130
37,918
Disposals
( 28,690)
( 28,690)
--------
---------
--------
-----------
-----------
At 31st December 2024
6,829
46,856
5,689
128,275
187,649
--------
---------
--------
-----------
-----------
Depreciation
At 1st January 2024
6,829
33,965
2,989
72,529
116,312
Charge for the year
5,272
859
32,068
38,199
Disposals
( 28,690)
( 28,690)
--------
---------
--------
-----------
-----------
At 31st December 2024
6,829
39,237
3,848
75,907
125,821
--------
---------
--------
-----------
-----------
Carrying amount
At 31st December 2024
7,619
1,841
52,368
61,828
--------
---------
--------
-----------
-----------
At 31st December 2023
12,891
912
48,306
62,109
--------
---------
--------
-----------
-----------
7. INVESTMENTS
Other investments other than loans
£
Cost
At 1st January 2024 and 31st December 2024
2
-----
Impairment
At 1st January 2024 and 31st December 2024
-----
Carrying amount
At 31st December 2024
2
-----
At 31st December 2023
2
-----
The company owns 100% of the issued share capital of Cleaning Supplies North West Limited, a company incorporated in England and Wales. The company did not trade during the year. The aggregate share capital and reserves at the year end was £2.
8. DEBTORS
2024
2023
£
£
Trade debtors
349,395
341,375
Prepayments and accrued income
5,468
5,586
-----------
-----------
354,863
346,961
-----------
-----------
9. CREDITORS: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
1,646
18,652
Trade creditors
491,199
452,795
Accruals and deferred income
7,696
12,015
Corporation tax
21,169
64,778
Social security and other taxes
73,205
65,699
Obligations under finance leases and hire purchase contracts
28,611
20,982
Other creditors
4,598
3,868
-----------
-----------
628,124
638,789
-----------
-----------
10. CREDITORS: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
1,646
Obligations under finance leases and hire purchase contracts
31,521
34,734
---------
---------
31,521
36,380
---------
---------
11. RELATED PARTY TRANSACTIONS
During the year the company continued to borrow funds from director Mr D R Bentley . During the year the company paid interest of £62 (2023 £41) to Mr D R Bentley in respect of this loan. At the balance sheet date the company owed £1,950 (2023 £1,898) to Mr D R Bentley . During the year the company continued to borrow funds from director Mr P R Bentley . During the year the company paid interest of £87 (2023 £468) to Mr P R Bentley in respect of this loan. At the balance sheet date the company was owed £287 (2023 £639 owed) by Mr P R Bentley . During the year the company continued to borrow funds from director Mr T Bentley. During the year the company paid interest of £38 (2023 £156) to Mr T Bentley in respect of this loan. At the balance sheet date the company owed £1,406 (2023 £1,368) to Mr T Bentley. During the year the company paid rent of £108,000 (2023 £94,425) to PDG, a partnership comprised of directors Mr P R Bentley ,Mr D R Bentley and Miss G R Bentley. During the year the company paid dividends amounting to £39,600 (2023 £49,600) to Mr D R Bentley. During the year the company paid dividends amounting to £39,600 (2023 £49,600) to Mr P R Bentley . During the year the company paid dividends amounting to £10,000 (2023 nil) to Miss G R Bentley.