Registered number
08167291
Vello Limited
Filleted Accounts
31 August 2024
Vello Limited
Registered number: 08167291
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 340,401 86,343
Investments 4 62 22
340,463 86,365
Current assets
Stocks 6,199,343 5,735,678
Debtors 5 4,225,707 3,967,756
Cash at bank and in hand 2,402,399 2,941,202
12,827,449 12,644,636
Creditors: amounts falling due within one year 6 (2,179,878) (2,323,916)
Net current assets 10,647,571 10,320,720
Total assets less current liabilities 10,988,034 10,407,085
Provisions for liabilities (27,864) (21,586)
Net assets 10,960,170 10,385,499
Capital and reserves
Called up share capital 2 2
Profit and loss account 10,960,168 10,385,497
Shareholders' funds 10,960,170 10,385,499
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mrs L.Jones
Director
A.Jones
Director
Approved by the board on 27 May 2025
Vello Limited
Notes to the Accounts
for the year ended 31 August 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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.
Consolidation
In the opinion of the directors, the company and its subsidiary undertaking comprise a small group. The company has therefore taken advantage of the exemption provided by Section 398 of the Companies Act 2006 not to prepare group accounts.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset over its expected useful life, as follows:
Plant and machinery 15-33% reducing balance
Motor Vehicles 25% reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 5
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 September 2023 - 24,148 88,601 112,749
Additions 228,944 49,505 - 278,449
Disposals - - (5,100) (5,100)
At 31 August 2024 228,944 73,653 83,501 386,098
Depreciation
At 1 September 2023 - 11,920 14,486 26,406
Charge for the year - 5,862 18,529 24,391
On disposals - - (5,100) (5,100)
At 31 August 2024 - 17,782 27,915 45,697
Net book value
At 31 August 2024 228,944 55,871 55,586 340,401
At 31 August 2023 - 12,228 74,115 86,343
4 Investments
Investments in
subsidiary Other
undertakings investments Total
£ £ £
Cost
At 1 September 2023 2 20 22
Additions - 40 40
At 31 August 2024 2 60 62
5 Debtors 2024 2023
£ £
Other debtors 4,225,707 3,967,756
Amounts due after more than one year included above 3,760,932 1,080,345
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 116,976 79,013
Amounts owed to group undertakings and undertakings in which the company has a participating interest 1,064,441 1,014,441
Taxation and social security costs 4,462 250,177
Other creditors 993,999 980,285
2,179,878 2,323,916
7 Related party transactions
Within creditors due within one year is an amount due to a company of which A.Jones and Mrs L.Jones are directors. No interest is charged on outstanding balances
2024 2023
£ £
M.A.Property (Norfolk) Limited 894,663 894,663
Within debtors is an amount due from a company of which A.Jones and Mrs L.Jones are directors. No interest is charged on outstanding balances
East Anglian Property Limited 99,478 99,478
8 Controlling party
In the opinion of the directors the ultimate controlling party is M. A. Jones.
9 Other information
Vello Limited is a private company limited by shares and incorporated in England. Its registered office is:
The Lodge
9 Laurel Drive
Brundall
Norwich
NR13 5RE
Vello Limited 08167291 false 2023-09-01 2024-08-31 2024-08-31 VT Final Accounts April 2025 A.Jones No description of principal activity 08167291 2022-09-01 2023-08-31 08167291 core:WithinOneYear 2023-08-31 08167291 core:ShareCapital 2023-08-31 08167291 core:RetainedEarningsAccumulatedLosses 2023-08-31 08167291 core:AfterOneYear 2023-08-31 08167291 2023-09-01 2024-08-31 08167291 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 08167291 bus:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 08167291 bus:Director40 2023-09-01 2024-08-31 08167291 1 2023-09-01 2024-08-31 08167291 2 2023-09-01 2024-08-31 08167291 core:LandBuildings 2023-09-01 2024-08-31 08167291 core:PlantMachinery 2023-09-01 2024-08-31 08167291 core:Vehicles 2023-09-01 2024-08-31 08167291 countries:England 2023-09-01 2024-08-31 08167291 bus:FRS102 2023-09-01 2024-08-31 08167291 bus:FilletedAccounts 2023-09-01 2024-08-31 08167291 2024-08-31 08167291 core:WithinOneYear 2024-08-31 08167291 core:ShareCapital 2024-08-31 08167291 core:RetainedEarningsAccumulatedLosses 2024-08-31 08167291 core:LandBuildings 2024-08-31 08167291 core:PlantMachinery 2024-08-31 08167291 core:Vehicles 2024-08-31 08167291 core:AdditionsToInvestments 2024-08-31 08167291 core:AfterOneYear 2024-08-31 08167291 2023-08-31 08167291 core:LandBuildings 2023-08-31 08167291 core:PlantMachinery 2023-08-31 08167291 core:Vehicles 2023-08-31 iso4217:GBP xbrli:pure