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Registered Number: 02385634
England and Wales

 

 

 

VULCAN FINANCE LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 November 2023

End date: 31 October 2024
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 50,557    111,139 
50,557    111,139 
Current assets      
Debtors 4 331,012    300,999 
Cash at bank and in hand 23,845    22,258 
354,857    323,257 
Creditors: amount falling due within one year 5 (32,736)   (64,013)
Net current assets 322,121    259,244 
 
Total assets less current liabilities 372,678    370,383 
Net assets 372,678    370,383 
 

Capital and reserves
     
Called up share capital 576    576 
Share premium account 6 425    425 
Profit and loss account 371,677    369,382 
Shareholders' funds 372,678    370,383 
 


For the year ended 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 01 April 2025 and were signed by:


-------------------------------
Hugh Hurst
Director
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General Information
Vulcan Finance Limited is a private company, limited by shares, registered in England and Wales, registration number 02385634, registration address Northumberland Taxi & Coach Centre, South Albion Retail Park, Blyth, Northumberland, NE24 5BW.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102(1A) The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the going concern and the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves, 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. 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.
Tangible fixed assets
Tangible fixed assets, 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:
Motor Vehicles 25% Reducing Balance
Computer Equipment 15% Reducing Balance
2.

Average number of employees

Average number of employees during the year was 0 (2023 : 0).
3.

Tangible fixed assets

Cost or valuation Motor Vehicles   Computer Equipment   Total
  £   £   £
At 01 November 2023 122,504      122,504 
Additions 8,400    4,598    12,998 
Disposals (65,397)     (65,397)
At 31 October 2024 65,507    4,598    70,105 
Depreciation
At 01 November 2023 11,364      11,364 
Charge for year 25,680    57    25,737 
On disposals (17,553)     (17,553)
At 31 October 2024 19,491    57    19,548 
Net book values
Closing balance as at 31 October 2024 46,016    4,541    50,557 
Opening balance as at 01 November 2023 111,139      111,139 


4.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 29,361    47,167 
Prepayments & Accrued Income   700 
Accrued Income   1,157 
Other Debtors 301,651    251,975 
331,012    300,999 

5.

Creditors: amount falling due within one year

2024
£
  2023
£
Bank Loans & Overdrafts   15,106 
Corporation Tax 21,328    34,107 
Accrued Expenses 1,008    1,800 
Directors' Current Accounts 10,400    13,000 
32,736    64,013 

6.

Share premium account

2024
£
  2023
£
Equity Share Premium b/fwd 425    425 
425    425 

7.

Directors advances, credits and guarantees

Included in creditors: amounts due within one year, are amounts owed to the Director of £10,400 (2023 - £13,000)

8.

Disclosure of controlling party

For the whole of the period under review the company was under the control of Hugh Hurst, director of the company.

2