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Registered number: 15080816









VCS DURABILITY ENGINEERING LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 DECEMBER 2024

 
VCS DURABILITY ENGINEERING LIMITED
 
 
COMPANY INFORMATION


Director
M A Ball (appointed 18 August 2023)




Registered number
15080816



Registered office
St. Lukes House
27a Upper High Street

Cradley Heath

B64 5HX




Accountants
Grant Thornton UK LLP
Chartered Accountants

Victoria House

199 Avebury Boulevard

Milton Keynes

MK9 1AU





 
VCS DURABILITY ENGINEERING LIMITED
 

CONTENTS



Page
Accountants' Report
1
Statement of Financial Position
2 - 3
Statement of Changes in Equity
4
Notes to the Financial Statements
5 - 11


  
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Report to the director on the preparation of the unaudited statutory financial statements of VCS Durability Engineering Limited for the period ended 31 December 2024 

We have compiled the accompanying financial statements of VCS Durability Engineering Limited (the ‘company’)  based on the information you have provided. These financial statements comprise the Statement of Financial Position of VCS Durability Engineering Limited as at 31 December 2024, the Statement of Changes in Equity for the period then ended, and a summary of significant accounting policies and other explanatory information. 

We performed this compilation engagement in accordance with International Standard on Related Services 4410 (Revised), 'Compilation Engagements'.

We have applied our expertise in accounting and financial reporting to assist you in the preparation and presentation of these financial statements in accordance with applicable law and United Kingdom Accounting Standardsincluding Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). As a member firm of the Institute of Chartered Accountants in England and Waleswe are subject to its ethical and other professional requirements which are detailed at www.icaew.com.

These financial statements and the accuracy and completeness of the information used to compile them are your responsibility.

Since a compilation engagement is not an assurance engagement, we are not required to verify the accuracy or completeness of the information you provided to us to compile these financial statements. Accordingly, we do not express an audit opinion or a review conclusion on whether these financial statements are prepared in accordance with United Kingdom Generally Accepted Accounting Practice.

This report is made solely to the Company's director  in accordance with the terms of our engagement letter dated 6 March 2025Our work has been undertaken solely to prepare for your approval the financial statements of the company and state those matters that we have agreed to state to the Company's director  in this report in accordance with our engagement letter dated 6 March 2025. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director  for our work or for this report.




Grant Thornton UK LLP
 
Chartered Accountants
  
Milton Keynes

14 May 2025
Page 1

 
VCS DURABILITY ENGINEERING LIMITED
REGISTERED NUMBER: 15080816

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024

2024
Note
£

Fixed assets
  

Tangible assets
 4 
37,290

  
37,290

Current assets
  

Debtors: amounts falling due after more than one year
 5 
33,333

Debtors: amounts falling due within one year
 5 
565,289

Cash and cash equivalents
  
7,826

  
606,448

Creditors: amounts falling due within one year
 6 
(811,135)

Net current (liabilities)
  
 
 
(204,687)

Total assets less current liabilities
  
(167,397)

  

Net (liabilities)
  
(167,397)


Capital and reserves
  

Called up share capital 
 8 
1

Profit and loss account
  
(167,398)

  
(167,397)


Page 2

 
VCS DURABILITY ENGINEERING LIMITED
REGISTERED NUMBER: 15080816
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




M A Ball
Director

Date: 14 May 2025

The notes on pages 5 to 11 form part of these financial statements.

Page 3

 
VCS DURABILITY ENGINEERING LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 DECEMBER 2024


Called up share capital
Profit and loss account
Total equity

£
£
£


Comprehensive income for the period

Loss for the period
-
(167,398)
(167,398)

Shares issued during the period
1
-
1


At 31 December 2024
1
(167,398)
(167,397)

The notes on pages 5 to 11 form part of these financial statements.

Page 4

 
VCS DURABILITY ENGINEERING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

1.


General information

VCS Durability Engineering Limited is a private company, limited by shares, and is incorporated in
England and Wales.

Registered address:
St. Lukes House
27a Upper High Street
Cradley Heath
B64 5HX

Registration number
15080816

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The director has assessed the company’s ability to operate as a going concern for the 12 months from the date of signing the financial statements. The uncertainty as to the future impact on the company of macro economic events has been considered as part of this assessment.

Whilst there remains some uncertainty as to impact, based on their assessment, the director believes that it remains appropriate to continue to adopt the going concern basis in preparing these financial statements.

The director also confirms that the company will continue to receive the financial support of the parent company.

Page 5

 
VCS DURABILITY ENGINEERING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Sales of goods are recognised when goods are dispatched. Revenue generated from services amounts to the value of work carried out during the year as services are provided, including amounts not invoiced. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Motor vehicles
-
20%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 6

 
VCS DURABILITY ENGINEERING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.6

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.
Page 7

 
VCS DURABILITY ENGINEERING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

2.Accounting policies (continued)


2.6
Financial instruments (continued)

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Employees

The average monthly number of employees during the period was 10.


Page 8

 
VCS DURABILITY ENGINEERING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

4.


Tangible fixed assets





Motor vehicles

£



Cost


Additions
43,871



At 31 December 2024

43,871



Depreciation


Charge for the period
6,581



At 31 December 2024

6,581



Net book value



At 31 December 2024
37,290


5.


Debtors

2024
£

Due after more than one year

Prepayments and accrued income
33,333


2024
£

Due within one year

Trade debtors
530,828

Other debtors
1,127

Prepayments and accrued income
33,334

565,289


Page 9

 
VCS DURABILITY ENGINEERING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

6.


Creditors: Amounts falling due within one year

2024
£

Trade creditors
77,138

Amounts owed to group undertakings
630,163

Other taxation and social security
77,513

Other creditors
5,946

Accruals and deferred income
20,375

811,135


Amounts owed to group undertakings are interest free, unsecured and considered repayable on demand.


7.


Deferred taxation


Deferred tax on losses in the amount of £41,582 has not been provided for in the accounts due to the uncertainty of future profits.


8.


Share capital

2024
£
Allotted, called up and fully paid


1 Ordinary share of £1.00
1


On incorporation on 18 August 2023, the Company issued 1 Ordinary £1 share at nominal value.


9.


Commitments under operating leases

At 31 December 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
£


Not later than 1 year
15,600

Later than 1 year and not later than 5 years
24,700

40,300

Page 10

 
VCS DURABILITY ENGINEERING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024

10.


Controlling party

The ultimate controlling party is VCS Engineering Inc., a company incorporated in the United States, which is also its immediate parent company.

 
Page 11