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REGISTERED NUMBER: 06673720 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

FOR

VITECH SYSTEMS LIMITED

VITECH SYSTEMS LIMITED (REGISTERED NUMBER: 06673720)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


VITECH SYSTEMS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2024







DIRECTOR: N J Palmer





REGISTERED OFFICE: 43a Little Mount Sion
Tunbridge Wells
Kent
TN1 1YP





REGISTERED NUMBER: 06673720 (England and Wales)





ACCOUNTANTS: Wells Associates
Ground Floor Oakhurst House
77 Mount Ephraim
Tunbridge Wells
Kent
TN4 8BS

VITECH SYSTEMS LIMITED (REGISTERED NUMBER: 06673720)

BALANCE SHEET
31 JULY 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 94,108 58,331

CURRENT ASSETS
Debtors 5 2,104,088 1,556,874
Cash at bank and in hand 358,528 117,804
2,462,616 1,674,678
CREDITORS
Amounts falling due within one year 6 (1,412,018 ) (835,185 )
NET CURRENT ASSETS 1,050,598 839,493
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,144,706

897,824

CREDITORS
Amounts falling due after more than one
year

7

(10,019

)

(20,278

)

PROVISIONS FOR LIABILITIES (17,881 ) (11,418 )
NET ASSETS 1,116,806 866,128

CAPITAL AND RESERVES
Called up share capital 70 70
Retained earnings 1,116,736 866,058
1,116,806 866,128

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 director acknowledges his 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.

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 director and authorised for issue on 28 April 2025 and were signed by:





N J Palmer - Director


VITECH SYSTEMS LIMITED (REGISTERED NUMBER: 06673720)

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

1. STATUTORY INFORMATION

Vitech Systems 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

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 machinery - 25% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 9 ) .

VITECH SYSTEMS LIMITED (REGISTERED NUMBER: 06673720)

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

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 August 2023 46,793 123,042 169,835
Additions - 66,000 66,000
At 31 July 2024 46,793 189,042 235,835
DEPRECIATION
At 1 August 2023 29,820 81,684 111,504
Charge for year 8,751 21,472 30,223
At 31 July 2024 38,571 103,156 141,727
NET BOOK VALUE
At 31 July 2024 8,222 85,886 94,108
At 31 July 2023 16,973 41,358 58,331

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 279,377 161,844
Amounts owed by group undertakings 1,102,682 602,682
Other debtors 722,029 792,348
2,104,088 1,556,874

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,259 10,005
Trade creditors 112,834 158,627
Taxation and social security 275,825 195,568
Other creditors 1,013,100 470,985
1,412,018 835,185

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 10,019 20,278

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 July 2024 and 31 July 2023:

2024 2023
£    £   
N J Palmer
Balance outstanding at start of year 329,605 329,605
Amounts repaid (418 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 329,187 329,605

Loans to directors are repayable on demand and interest is charged at all times the loan balance exceeds £10,000.

VITECH SYSTEMS LIMITED (REGISTERED NUMBER: 06673720)

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

9. CONTROLLING PARTY

The ultimate controlling party during the period was N J Palmer via a holding company, LMS Property Holdings Limited.