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V&H RECOVERY LTD
Registered Number:08435310
For the year ended 31 March 2024
England and Wales
Unaudited Financial Statements
2
For the year ended 31 March 2024
V&H RECOVERY LTD
Contents Page
1
Statement of Financial Position
2 to 5
Notes to the Financial Statements
3
Registered Number :
08435310
As at 31 March 2024
V&H RECOVERY LTD
Statement of Financial Position
£
£
2023
2024
Notes
Fixed assets
Intangible assets
3,750
5,250
Property, plant and equipment
2,086,312
1,176,990
2
2,090,062
1,182,240
Current assets
Inventories
316,160
266,160
3
Trade and other receivables
316,562
169,041
4
16,959
Cash and cash equivalents
6,616
441,817
649,681
Trade and other payables: amounts falling due within one year
(432,391)
(647,848)
5
217,290
(206,031)
Net current liabilities
Total assets less current liabilities
1,884,031
1,399,530
Trade and other payables: amounts falling due after more than one
year
(1,077,930)
(1,508,426)
6
375,605
Net assets
321,600
Capital and reserves
Called up share capital
1,000
1,000
Retained earnings
374,605
320,600
375,605
321,600
Shareholders' funds
For the year ended 31 March 2024 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section 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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Veli EMIRZADEOGLULARI Director
These financial statements were approved and authorised for issue by the Board on 23 March 2025 and were signed by:
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4
Registered Number :
08435310
For the year ended 31 March 2024
V&H RECOVERY LTD
Statement of Financial Position Continued
The notes form part of these financial statements
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5
For the year ended 31 March 2024
V&H RECOVERY LTD
Notes to the Financial Statements
Statutory Information
V&H RECOVERY LTD is a private limited company, limited by shares, domiciled in England and Wales, registration number
08435310.
Registered address:
Unit 1e, Cody Business Centre
North Crescent
London
England
E16 4TG
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A 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 costs convention as modified by the revaluation of certain assets.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax or other similar sales taxes.
Property, plant and equipment
Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery
10% Straight line
20% Straight line
Computer Equipment
20% Straight line
Motor Vehicles
20% Straight line
Furniture and Fittings
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.
Inventories
Inventories are value at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straightline basis over the period of the lease.
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6
For the year ended 31 March 2024
V&H RECOVERY LTD
Notes to the Financial Statements Continued
2. Property, plant and equipment
Total
Computer
Equipment
Furniture and
Fittings
Motor Vehicles
Plant and
Machinery
£
£
£
£
£
Cost or valuation
At 01 April 2023
1,440,607
3,430
2,775
-
1,434,402
1,318,145
-
-
1,318,145
-
Additions
At 31 March 2024
1,318,145
2,775
3,430
2,758,752
1,434,402
Provision for depreciation and impairment
At 01 April 2023
263,617
1,893
2,220
-
259,504
Charge for year
408,823
513
555
264,315
143,440
At 31 March 2024
672,440
2,406
2,775
264,315
402,944
At 31 March 2024
Net book value
1,031,458
1,053,830
-
1,024
2,086,312
At 31 March 2023
1,174,898
-
555
1,537
1,176,990
3. Inventories
2023
2024
£
£
Stocks
266,160
316,160
4. Trade and other receivables
2023
2024
£
£
Trade debtors
941
108,391
Other debtors
168,100
208,171
316,562
169,041
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7
For the year ended 31 March 2024
V&H RECOVERY LTD
Notes to the Financial Statements Continued
5. Trade and other payables: amounts falling due within one year
2023
2024
£
£
Bank loans and overdraft
2,879
2,879
Trade creditors
93,928
23,906
Taxation and social security
425,082
351,926
Accruals and deferred income
7,891
7,891
Obligations under HP/Financial leases
26,729
45,789
Other creditors
91,339
-
647,848
432,391
6. Trade and other payables: amounts falling due after more than one year
2023
2024
£
£
Bank loans and overdraft
18,864
28,977
-
64,752
Directors' loan accounts
1,048,953
1,424,810
Obligations under HP/Financial leases
1,508,426
1,077,930
7. Average number of persons employed
During the year the average number of employees was 14 (2023 : 6)
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