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REGISTERED NUMBER: 02521138 (England and Wales)

















VITESSE ENTERPRISES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024






VITESSE ENTERPRISES LIMITED (REGISTERED NUMBER: 02521138)






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




Page

Balance Sheet 1

Notes to the Financial Statements 2


VITESSE ENTERPRISES LIMITED (REGISTERED NUMBER: 02521138)

BALANCE SHEET
31 AUGUST 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 2 2
Investments 5 19,534 19,534
19,536 19,536

CURRENT ASSETS
Debtors 6 48,581 10,724
Cash at bank 33,098 91,243
81,679 101,967
CREDITORS
Amounts falling due within one year 7 39,645 70,215
NET CURRENT ASSETS 42,034 31,752
TOTAL ASSETS LESS CURRENT
LIABILITIES

61,570

51,288

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 8 60,570 50,288
SHAREHOLDERS' FUNDS 61,570 51,288

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 13 May 2025 and were signed by:



Mr N F Fleet - Director


VITESSE ENTERPRISES LIMITED (REGISTERED NUMBER: 02521138)

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

1. STATUTORY INFORMATION

Vitesse Enterprises 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: 02521138

Registered office: 71 Knowl Piece
Wilbury Way
Hitchin
Herts
SG4 0TY

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 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 measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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
Fixtures and fittings - 10% on cost
Computer equipment - 25% on cost

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.

3. EMPLOYEES AND DIRECTORS

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

VITESSE ENTERPRISES LIMITED (REGISTERED NUMBER: 02521138)

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

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 September 2023
and 31 August 2024 294 4,079 1,523 5,896
DEPRECIATION
At 1 September 2023
and 31 August 2024 294 4,077 1,523 5,894
NET BOOK VALUE
At 31 August 2024 - 2 - 2
At 31 August 2023 - 2 - 2

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 September 2023
and 31 August 2024 19,534
NET BOOK VALUE
At 31 August 2024 19,534
At 31 August 2023 19,534

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by group undertakings 32,990 10,724
Other debtors 15,591 -
48,581 10,724

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed to associates 34,574 33,756
Taxation and social security 5,071 4,216
Other creditors - 32,243
39,645 70,215

VITESSE ENTERPRISES LIMITED (REGISTERED NUMBER: 02521138)

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

8. RESERVES
Retained
earnings
£   

At 1 September 2023 50,288
Profit for the year 26,282
Dividends (16,000 )
At 31 August 2024 60,570

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

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

2024 2023
£    £   
Mr N F Fleet
Balance outstanding at start of year (32,242 ) (58,392 )
Amounts advanced 89,649 60,954
Amounts repaid (41,816 ) (34,804 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 15,591 (32,242 )

At the year end Mr N.F. Fleet had an outstanding loan of £15,591 which was interest free and repayable on demand.

10. RELATED PARTY DISCLOSURES

During the year, total dividends of £16,000 (2023 - £15,000) were paid to the directors .

Land and Marine Environmental Limited
A subsidiary company in which Mr N F Fleet is also a director

Goods and services to Land & Marine Environmental Limited 2024 - £12,000 (2023 - £12,000).
Amount due from related party at the balance sheet date 2024 - £32,990 (2023: £10.724)

Phoenix Instrumentation Limited
A company in which Mr N F Fleet is also a director

Goods and services to Phoenix Instrumentation Limited 2024 - £12,000 (2023 - £12,000).
Amount due to related party at the balance sheet date 2024 - £34,574 (2023: £33,756)