Caseware UK (AP4) 2024.0.164 2024.0.164 2024-06-302024-06-30trueNo description of principal activity2023-07-01true22false 10822506 2023-07-01 2024-06-30 10822506 2022-07-01 2023-06-30 10822506 2024-06-30 10822506 2023-06-30 10822506 c:Director1 2023-07-01 2024-06-30 10822506 d:FurnitureFittings 2023-07-01 2024-06-30 10822506 d:FurnitureFittings 2024-06-30 10822506 d:FurnitureFittings 2023-06-30 10822506 d:CurrentFinancialInstruments 2024-06-30 10822506 d:CurrentFinancialInstruments 2023-06-30 10822506 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 10822506 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 10822506 d:ShareCapital 2024-06-30 10822506 d:ShareCapital 2023-06-30 10822506 d:RetainedEarningsAccumulatedLosses 2024-06-30 10822506 d:RetainedEarningsAccumulatedLosses 2023-06-30 10822506 c:EntityHasNeverTraded 2023-07-01 2024-06-30 10822506 c:FRS102 2023-07-01 2024-06-30 10822506 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 10822506 c:FullAccounts 2023-07-01 2024-06-30 10822506 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 iso4217:GBP xbrli:pure

Registered number: 10822506









VELOCITY PROMOTIONS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2024

 
VELOCITY PROMOTIONS LIMITED
REGISTERED NUMBER: 10822506

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 5 
709
709

  
709
709

Creditors: amounts falling due within one year
 6 
(13,297)
(13,981)

Net current liabilities
  
 
 
(12,588)
 
 
(13,272)

Total assets less current liabilities
  
(12,588)
(13,272)

  

Net liabilities
  
(12,588)
(13,272)


Capital and reserves
  

Called up share capital 
  
3
3

Profit and loss account
  
(12,591)
(13,275)

  
(12,588)
(13,272)


Page 1

 
VELOCITY PROMOTIONS LIMITED
REGISTERED NUMBER: 10822506
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024

For the year ended 30 June 2024 the Company was entitled to exemption from audit under section 480 of the Companies Act 2006.

Members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 19 March 2025.




M Plowman
Director

The notes on pages 3 to 5 form part of these financial statements.

Page 2

 
VELOCITY PROMOTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

The Company is a private company, limited by shares, incorporated and domiciled in England within United Kingdom, registration number 10822506. The Company's registered office is Unit 22 Two Gates Trading Estate, Watling Street, Tamworth, B77 5AE.
The financial statements are presented in sterling which is the functional currency of the company and the financial statements are rounded to the nearest £1.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

 
2.2

Going concern

The directors have prepared the accounts on a going concern basis.

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 3

 
VELOCITY PROMOTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.5

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.


3.


Employees

The average monthly number of employees during the year was as follows:


        2024
        2023
            No.
            No.







Directors
2
2

Page 4

 
VELOCITY PROMOTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

4.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 July 2023
2,565



At 30 June 2024

2,565



Depreciation


At 1 July 2023
2,565



At 30 June 2024

2,565



Net book value



At 30 June 2024
-



At 30 June 2023
-


5.


Debtors

2024
2023
£
£


Other debtors
709
709

709
709



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other creditors
13,297
13,297

Accruals and deferred income
-
684

13,297
13,981


 
Page 5