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Registered Number: 08169393
England and Wales

 

 

 

VELOCE AUTOS LTD.



Unaudited Financial Statements
 


Period of accounts

Start date: 01 September 2023

End date: 31 August 2024
Directors Fahd Ahmed
Firoz Ahmed
Registered Number 08169393
Registered Office 5 Rickard Close
West Drayton
Middlesex
UB7 7UX
Accountants 3E'S Accountants Limited
231 Kenton Road
Harrow
Middlesex
England
HA3 0HD
Secretary Faheem Ahmed
1
 

 
Notes

 
2024
£

  2023
£
(as restated)
Current assets      
Stocks 3 668,060    572,871 
Prepayment & Other debtors 4 67,542   
Cash at bank and in hand 60,824    67,128 
796,426    639,999 
Creditors: amount falling due within one year 5 (277,661)   (203,125)
Net current assets 518,765    436,874 
 
Total assets less current liabilities 518,765    436,874 
Creditors: amount falling due after more than one year 6 (439,697)   (366,804)
Provisions for liabilities 7 (13,093)   (13,313)
Net assets 65,975    56,757 
 

Capital and reserves
     
Called up share capital 99    99 
Profit and loss account 65,876    56,658 
Shareholders' funds 65,975    56,757 
 


For the year ended 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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.
These 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 to the Registrar of Companies.
The financial statements were approved by the board of directors on 29 May 2025 and were signed on its behalf by:


-------------------------------
Fahd Ahmed
Director
2
General Information
Veloce Autos Ltd. is a private company, limited by shares, registered in England and Wales, registration number 08169393, registration address 5 Rickard Close, West Drayton, Middlesex, UB7 7UX.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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 comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 0 (2023 : 0).
3.

Stocks

2024
£
  2023
£
Stocks 668,060    572,871 
668,060    572,871 

4.

Debtors: amounts falling due within one year

2024
£
  2023
£
Other Debtors 67,542   
67,542   

5.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors   392 
Taxation and Social Security 120,079    120,264 
Other Creditors 157,582    82,469 
277,661    203,125 

6.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans & Overdrafts 17,482    30,489 
Other Creditors 422,215    336,315 
439,697    366,804 

7.

Provisions for liabilities

2024
£
  2023
£
Provision for Corporation Tax 13,093    13,313 
13,093    13,313 

3