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REGISTERED NUMBER: 06318441 (England and Wales)



















VTM (UK) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024






VTM (UK) LIMITED (REGISTERED NUMBER: 06318441)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


VTM (UK) LIMITED (REGISTERED NUMBER: 06318441)

BALANCE SHEET
31 JULY 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 9,890 12,753

CURRENT ASSETS
Stocks 298,751 380,929
Debtors 5 349,978 267,229
Cash at bank 84,192 62,237
732,921 710,395
CREDITORS
Amounts falling due within one year 6 338,623 326,862
NET CURRENT ASSETS 394,298 383,533
TOTAL ASSETS LESS CURRENT
LIABILITIES

404,188

396,286

CREDITORS
Amounts falling due after more than one year 7 (36,667 ) (76,667 )

PROVISIONS FOR LIABILITIES (1,494 ) (1,954 )
NET ASSETS 366,027 317,665

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 366,026 317,664
SHAREHOLDERS' FUNDS 366,027 317,665

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 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.

VTM (UK) LIMITED (REGISTERED NUMBER: 06318441)

BALANCE SHEET - continued
31 JULY 2024


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 April 2025 and were signed on its behalf by:





J T Barford - Director


VTM (UK) LIMITED (REGISTERED NUMBER: 06318441)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1. STATUTORY INFORMATION

VTM (UK) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 06318441

Registered office: Unit 6 Nash Hall
The Street
High Ongar
Essex
CM5 9NL

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.

Going concern
The directors have a reasonable expectation that the company will continue to operate for the foreseeable future and so these financial statements are prepared on the going concern basis.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion, there are no significant judgements or key sources of estimation uncertainty.

Turnover
Turnover is derived from sales of electronics and telecommunications equipment and parts and is recognised when the goods are delivered to the customer. Turnover is recorded at the fair value of the consideration received or receivable, and excludes value added tax and rebates

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 20% on cost

VTM (UK) LIMITED (REGISTERED NUMBER: 06318441)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

2. ACCOUNTING POLICIES - continued

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

Financial instruments
The company only enters into basic financial instruments 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 non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss Account.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Foreign currencies
Transactions in foreign currencies are recorded at the rate ruling the date of the transaction. Monetary assets and liabilities denominated in foreign currencies translated at exchange rate ruling at the balance sheet date. All differences are taken to the profit and loss account.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Government grants
Government grants have been accounted for under the accrual model, recognised as other income against the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

VTM (UK) LIMITED (REGISTERED NUMBER: 06318441)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 August 2023 2,143 71,490 12,995 74,842 161,470
Additions - - - 1,571 1,571
At 31 July 2024 2,143 71,490 12,995 76,413 163,041
DEPRECIATION
At 1 August 2023 2,079 69,963 6,992 69,683 148,717
Charge for year 16 382 1,501 2,535 4,434
At 31 July 2024 2,095 70,345 8,493 72,218 153,151
NET BOOK VALUE
At 31 July 2024 48 1,145 4,502 4,195 9,890
At 31 July 2023 64 1,527 6,003 5,159 12,753

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 95,613 153,716
Amounts owed by group undertakings 206,750 49,832
Other debtors 47,615 63,681
349,978 267,229

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 40,000 40,000
Trade creditors 238,894 222,325
Taxation and social security 1,941 8,698
Other creditors 57,788 55,839
338,623 326,862

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 36,667 76,667

VTM (UK) LIMITED (REGISTERED NUMBER: 06318441)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

8. ULTIMATE PARENT COMPANY

The ultimate parent company of VTM (UK) Limited is VTM Aventura Limited which is incorporated in England and Wales.

The registered office of the ultimate parent company is Unit 6 Nash Hall, The Street, High Ongar, Essex, England, CM5 9NL.

The parent company, VTM Aventura Limited has not prepared group accounts as it is exempted from the requirement to do so by Section 398 of the Companies Act 2006. The company meets the qualifying conditions for a small sized group as laid down in section 398 of the Act.