IRIS Accounts Production v25.1.0.734 02155839 Board of Directors 1.3.24 28.2.25 28.2.25 false true false false true false Ordinary A 1.00000 Ordinary B 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh021558392024-02-29021558392025-02-28021558392024-03-012025-02-28021558392023-02-28021558392023-03-012024-02-29021558392024-02-2902155839ns14:PoundSterling2024-03-012025-02-2802155839ns10:Director12024-03-012025-02-2802155839ns10:PrivateLimitedCompanyLtd2024-03-012025-02-2802155839ns10:SmallEntities2024-03-012025-02-2802155839ns10:AuditExempt-NoAccountantsReport2024-03-012025-02-2802155839ns10:SmallCompaniesRegimeForDirectorsReport2024-03-012025-02-2802155839ns10:SmallCompaniesRegimeForAccounts2024-03-012025-02-2802155839ns10:FullAccounts2024-03-012025-02-2802155839ns10:OrdinaryShareClass12024-03-012025-02-2802155839ns10:OrdinaryShareClass22024-03-012025-02-2802155839ns10:Director22024-03-012025-02-2802155839ns10:Director32024-03-012025-02-2802155839ns10:CompanySecretary12024-03-012025-02-2802155839ns10:RegisteredOffice2024-03-012025-02-2802155839ns5:CurrentFinancialInstruments2025-02-2802155839ns5:CurrentFinancialInstruments2024-02-2902155839ns5:ShareCapital2025-02-2802155839ns5:ShareCapital2024-02-2902155839ns5:SharePremium2025-02-2802155839ns5:SharePremium2024-02-2902155839ns5:RetainedEarningsAccumulatedLosses2025-02-2802155839ns5:RetainedEarningsAccumulatedLosses2024-02-2902155839ns5:PlantMachinery2024-02-2902155839ns5:FurnitureFittings2024-02-2902155839ns5:MotorVehicles2024-02-2902155839ns5:ComputerEquipment2024-02-2902155839ns5:PlantMachinery2024-03-012025-02-2802155839ns5:FurnitureFittings2024-03-012025-02-2802155839ns5:MotorVehicles2024-03-012025-02-2802155839ns5:ComputerEquipment2024-03-012025-02-2802155839ns5:PlantMachinery2025-02-2802155839ns5:FurnitureFittings2025-02-2802155839ns5:MotorVehicles2025-02-2802155839ns5:ComputerEquipment2025-02-2802155839ns5:PlantMachinery2024-02-2902155839ns5:FurnitureFittings2024-02-2902155839ns5:MotorVehicles2024-02-2902155839ns5:ComputerEquipment2024-02-2902155839ns5:WithinOneYearns5:CurrentFinancialInstruments2025-02-2802155839ns5:WithinOneYearns5:CurrentFinancialInstruments2024-02-2902155839ns10:OrdinaryShareClass12025-02-2802155839ns10:OrdinaryShareClass22025-02-28
REGISTERED NUMBER: 02155839















VASECO LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2025






VASECO LIMITED (REGISTERED NUMBER: 02155839)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


VASECO LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2025







DIRECTORS: P N Frank
J E Frank
M Frank





SECRETARY: J E Frank





REGISTERED OFFICE: Bromley House
Barlow Drive
Woodford Park Industrial Estate
Winsford
Cheshire
CW7 2JZ





REGISTERED NUMBER: 02155839





ACCOUNTANTS: Murray Smith LLP
Chartered Accountants
Darland House
44 Winnington Hill
Northwich
Cheshire
CW8 1AU

VASECO LIMITED (REGISTERED NUMBER: 02155839)

BALANCE SHEET
28 FEBRUARY 2025

2025 2024
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 333,082 376,307

CURRENT ASSETS
Stocks 5 361,842 290,133
Debtors 6 343,501 242,163
Cash at bank and in hand 336,114 377,583
1,041,457 909,879
CREDITORS
Amounts falling due within one year 7 157,010 153,071
NET CURRENT ASSETS 884,447 756,808
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,217,529

1,133,115

PROVISIONS FOR LIABILITIES 73,034 62,863
NET ASSETS 1,144,495 1,070,252

CAPITAL AND RESERVES
Called up share capital 9 1,075 1,075
Share premium 22,425 22,425
Profit and loss account 1,120,995 1,046,752
SHAREHOLDERS' FUNDS 1,144,495 1,070,252

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps 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 Sections 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.

VASECO LIMITED (REGISTERED NUMBER: 02155839)

BALANCE SHEET - continued
28 FEBRUARY 2025


The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 14 April 2025 and were signed on its behalf by:





P N Frank - Director


VASECO LIMITED (REGISTERED NUMBER: 02155839)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025

1. STATUTORY INFORMATION

Vaseco Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and key sources of estimated uncertainty
The company continually reviews its approach to estimations and judgements within the financial statements with a view to mitigate material misstatements. Historical experience along with other factors are used to create prudent accounting policies. Combining these policies with informed forecasts of the company's future, enables fair and consistent assumptions and estimates to be concluded.
Significant provisions are monitored by management and best estimates are maintained in accordance with any legal or contractual requirements.

Turnover
Turnover represents the value of goods and services provided during the year, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery10% On cost
Motor vehicles10% - 20% On cost
Office/Computer equipment15% - 20% On cost
Fixtures and fittings10% On cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Operating leases
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.


VASECO LIMITED (REGISTERED NUMBER: 02155839)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2025

2. ACCOUNTING POLICIES - continued

Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of the business.

Trade debtors are recognised initially at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on the present value basis.

Government grants
Grants are included in the profit and loss account on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown on the balance sheet. Where income is received in advance of meeting any performance-related conditions there is not unconditional entitlement to the income and its recognition is deferred and included in creditors as deferred income until the performance-related conditions are met. Where entitlement occurs before income is received, the income is accrued.

Provisions
Provisions are recognised when the Company has a present legal or constructive obligation as a result of past events; it is probable that an outflow of resources will be required to settle the obligation; and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are measured at the present value of management's best estimate of the expenditure required to settle the present obligation at the end of the reporting period, and are discounted to present value where the effect is material.

Employee benefits
(a) Wages and salaries and annual leave
Liabilities for wages and salaries and annual leave are recognised and are measured as the amount unpaid at the reporting date at current pay rates in respect of employees' services up to that date. They are expected to be settled within one year.

(b) Pensions
The Company makes contributions to employees' pension schemes. Contributions payable are charged to profit or loss in the period in which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2024 - 12 ) .

VASECO LIMITED (REGISTERED NUMBER: 02155839)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2025

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 March 2024 817,627 253,521 23,594 51,077 1,145,819
Additions 4,732 5,369 - 14,320 24,421
Disposals - - - (18,191 ) (18,191 )
At 28 February 2025 822,359 258,890 23,594 47,206 1,152,049
DEPRECIATION
At 1 March 2024 527,759 170,183 23,594 47,976 769,512
Charge for year 53,685 12,813 - 1,148 67,646
Eliminated on disposal - - - (18,191 ) (18,191 )
At 28 February 2025 581,444 182,996 23,594 30,933 818,967
NET BOOK VALUE
At 28 February 2025 240,915 75,894 - 16,273 333,082
At 29 February 2024 289,868 83,338 - 3,101 376,307

5. STOCKS
2025 2024
£    £   
Raw materials 361,842 290,133

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade debtors 324,380 217,595
Amounts owed by group undertakings - 2,074
Corporation tax - 4,741
Prepayments 19,121 17,753
343,501 242,163

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade creditors 50,198 128,932
Amounts owed to group undertakings 472 -
Corporation tax 81,212 -
Social security and other taxes 13,154 11,703
Directors' current accounts 1,812 931
Accrued expenses 10,162 11,505
157,010 153,071

VASECO LIMITED (REGISTERED NUMBER: 02155839)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2025

8. LEASING AGREEMENTS

The following operating lease payments are committed to be paid:

2025 2024
£ £
Expiring:
Within one year - 594
Between one and five years - -
- 594

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2025 2024
value: £    £   
1,000 Ordinary A £1 1,000 1,000
75 Ordinary B £1 75 75
1,075 1,075

10. CONTINGENT LIABILITIES

The company is a member of a Value Added Tax Group with Vaseco Holdings Limited. The VAT reclaimable by the group at the year end was £19,037 (2024: £24,120).

11. ULTIMATE CONTROLLING PARTY

Vaseco Holdings Limited is the ultimate controlling party which is controlled by the director, P Frank.

At the year end £472 was owed to Vaseco Holdings Limited, (2024: £2,074 was owed from Vaseco Holdings Limited).