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REGISTERED NUMBER: 10689706 (England and Wales)















VERNIER METAL PRODUCTS LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2024






VERNIER METAL PRODUCTS LIMITED (REGISTERED NUMBER: 10689706)

CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 30 NOVEMBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


VERNIER METAL PRODUCTS LIMITED

COMPANY INFORMATION
For The Year Ended 30 NOVEMBER 2024







DIRECTORS: C W H Davies
G J Hawkins
I Chatwin
W Hawkins





REGISTERED OFFICE: Vernier Works
Edward Street
Redditch
Worcestershire
B97 6HA





REGISTERED NUMBER: 10689706 (England and Wales)





AUDITORS: Charles Lovell & Co Limited
Chartered Certified Accountants
and Statutory Auditors
8 Church Green East
Redditch
Worcestershire
B98 8BP

VERNIER METAL PRODUCTS LIMITED (REGISTERED NUMBER: 10689706)

BALANCE SHEET
30 NOVEMBER 2024

30.11.24 30.11.23
Notes £    £    £    £   
FIXED ASSETS
Investments 4 1,080,635 1,080,635

CURRENT ASSETS
Debtors 5 88,750 78,750
Cash at bank 384 712
89,134 79,462
CREDITORS
Amounts falling due within one year 6 1,145,845 1,142,475
NET CURRENT LIABILITIES (1,056,711 ) (1,063,013 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

23,924

17,622

CAPITAL AND RESERVES
Called up share capital 7 99 99
Retained earnings 23,825 17,523
SHAREHOLDERS' FUNDS 23,924 17,622

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 Board of Directors and authorised for issue on 3 June 2025 and were signed on its behalf by:





C W H Davies - Director


VERNIER METAL PRODUCTS LIMITED (REGISTERED NUMBER: 10689706)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 30 NOVEMBER 2024


1. STATUTORY INFORMATION

Vernier Metal Products Limited is a private company limited by shares incorporated in England and Wales. The registered office is Fox House, Edward Street, Redditch, Worcestershire, B97 6HA.

2. ACCOUNTING POLICIES

Accounting convention
These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Investments in subsidiaries
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts.

VERNIER METAL PRODUCTS LIMITED (REGISTERED NUMBER: 10689706)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30 NOVEMBER 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet 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 debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Classification of 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 deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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

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

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

3. EMPLOYEES AND DIRECTORS

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

VERNIER METAL PRODUCTS LIMITED (REGISTERED NUMBER: 10689706)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30 NOVEMBER 2024


4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 December 2023
and 30 November 2024 1,080,635
NET BOOK VALUE
At 30 November 2024 1,080,635
At 30 November 2023 1,080,635

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Worcestershire Metal Holdings Limited
Registered office: United Kingdom
Nature of business: Intermediate holding company
%
Class of shares: holding
Ordinary 100.00

Vernier Springs and Pressings Limited
Registered office: United Kingdom
Nature of business: Manufacturing
%
Class of shares: holding
Ordinary 100.00

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
£    £   
Amounts owed by group undertakings 88,750 78,750

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
£    £   
Amounts owed to group undertakings 1,144,603 1,141,743
Accruals and deferred income 1,242 732
1,145,845 1,142,475

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.11.24 30.11.23
value: £    £   
99 Ordinary £1 99 99

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

John Thomas Harris (Senior Statutory Auditor)
for and on behalf of Charles Lovell & Co Limited

VERNIER METAL PRODUCTS LIMITED (REGISTERED NUMBER: 10689706)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30 NOVEMBER 2024


9. RELATED PARTY DISCLOSURES

As at the balance sheet date £88,750 was owed to Vernier Metal Products Limited from a wholly owned subsidiary.

As at the balance sheet date £1,144,603 is owed by Vernier Metal Products Limited to a wholly owned subsidiary.

10. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party due to the diversified shareholding.