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Company Registration No. 11425294 (England and Wales)
V3 Apparel Ltd Unaudited accounts for the year ended 30 June 2024
V3 Apparel Ltd Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
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V3 Apparel Ltd Company Information for the year ended 30 June 2024
Directors
Michael Pinocci Nicholas Pinocci
Company Number
11425294 (England and Wales)
Accountants
Your Cloud Accountant Limited The Keep Creech Castle Taunton Somerset TA1 2DX
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V3 Apparel Ltd Statement of financial position as at 30 June 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
4
6,426 
6,517 
Tangible assets
5
498 
1,041 
6,924 
7,558 
Current assets
Inventories
18,799 
2,845 
Debtors
6
389 
9,298 
Cash at bank and in hand
(49,938)
(22,341)
(30,750)
(10,198)
Creditors: amounts falling due within one year
7
(141,979)
(88,654)
Net current liabilities
(172,729)
(98,852)
Net liabilities
(165,805)
(91,294)
Capital and reserves
Called up share capital
10 
10 
Profit and loss account
(165,815)
(91,304)
Shareholders' funds
(165,805)
(91,294)
For the year ending 30 June 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 1 April 2025 and were signed on its behalf by
Michael Pinocci Director Company Registration No. 11425294
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V3 Apparel Ltd Notes to the Accounts for the year ended 30 June 2024
1
Statutory information
V3 Apparel Ltd is a private company, limited by shares, registered in England and Wales, registration number 11425294.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% straight line
Computer equipment
25% straight line
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Other 
£ 
Cost
At 1 July 2023
8,303 
Additions
803 
At 30 June 2024
9,106 
Amortisation
At 1 July 2023
1,786 
Charge for the year
894 
At 30 June 2024
2,680 
Net book value
At 30 June 2024
6,426 
At 30 June 2023
6,517 
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V3 Apparel Ltd Notes to the Accounts for the year ended 30 June 2024
5
Tangible fixed assets
Plant & machinery 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 July 2023
697 
1,316 
2,013 
At 30 June 2024
697 
1,316 
2,013 
Depreciation
At 1 July 2023
530 
442 
972 
Charge for the year
138 
405 
543 
At 30 June 2024
668 
847 
1,515 
Net book value
At 30 June 2024
29 
469 
498 
At 30 June 2023
167 
874 
1,041 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
- 
690 
Trade debtors
257 
7,255 
Accrued income and prepayments
132 
1,353 
389 
9,298 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
44,209 
52,137 
VAT
4,189 
- 
Trade creditors
5,277 
4,438 
Other creditors
2,591 
1,962 
Loans from directors
84,513 
16,074 
Accruals
1,200 
3,000 
Deferred income
- 
11,043 
141,979 
88,654 
8
Average number of employees
During the year the average number of employees was 2 (2023: 2).
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