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11555814














VANKEL LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED  30 SEPTEMBER 2024

 
VANKEL LTD
 

CONTENTS



Page
Statement of Financial Position
 
1
Notes to the Financial Statements
 
2 - 5


 
VANKEL LTD
REGISTERED NUMBER:11555814

STATEMENT OF FINANCIAL POSITION
AS AT 30 SEPTEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
3,995
5,069

Current assets
  

Debtors: amounts falling due within one year
 5 
496,035
403,756

Cash at bank and in hand
  
95,186
45,927

Current liabilities
  
591,221
449,683

Creditors: amounts falling due within one year
 7 
(199,703)
(175,062)

Net current assets
  
 
 
391,518
 
 
274,621

Total assets less current liabilities
  
395,513
279,690

  

Net assets
  
395,513
279,690


Capital and reserves
  

Called up share capital 
 8 
1
1

Profit and loss account
  
395,512
279,689

  
395,513
279,690


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 year 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 on 24 June 2025.




K O Knausgard
Director

The notes on pages 2 to 5 form part of these financial statements.

Page 1

 
VANKEL LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.


General information

Vankel Ltd is a limited liability company registered in England and Wales. Its registered office address is at 5 Elstree Gate, Elstree Way, Borehamwood, Hertfordshire WD6 1JD.
The principal activity of the Company during the year was that of publishing activities.
The financial statements are presented in £ sterling, which is the functional currency of the Company.

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

Turnover

Turnover is measured at the fair value of amounts receivable in respect of royalties received in the year, net of trade discounts and excluding value added tax. 
Royalty income is accounted for on an accruals basis. 

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.


 
2.6

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.

Page 2

 
VANKEL LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)


2.6
Tangible fixed assets (continued)

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:

Fixtures and fittings
-
25%
Office equipment
-
33%

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.

 
2.7

Basic financial instruments


The Company only enters into transactions that result in basic financial instruments such as trade and other debtors, trade and other creditors, cash at bank and in hand, loans to/from related parties.
Trade debtors, other debtors and loans to related parties are recognised initially at the transaction price less attributable transaction costs. Trade creditors, other creditors and loans from related parties are recognised initially at transaction price plus attributable transaction costs. Subsequently they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade and other debtors, and loans to related parties.
Cash and cash equivalents comprise cash balances and call deposits. Bank overdrafts that are repayable on demand and form an integral part of the Company's cash management.

 
2.8

Dividends

Equity dividends are recognised when they become legally payable


3.


Employees

2024
£

Wages and salaries
9,100

9,100


The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

Page 3

 
VANKEL LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

4.


Tangible fixed assets





Fixtures and fittings
Office equipment
Total

£
£
£



Cost or valuation


At 1 October 2023
7,967
11,029
18,996


Disposals
-
(2,198)
(2,198)



At 30 September 2024

7,967
8,831
16,798



Depreciation


At 1 October 2023
7,968
5,959
13,927


Charge for the year on owned assets
-
1,074
1,074


Disposals
-
(2,198)
(2,198)



At 30 September 2024

7,968
4,835
12,803



Net book value



At 30 September 2024
(1)
3,996
3,995



At 30 September 2023
(1)
5,070
5,069


5.


Debtors

2024
2023
£
£


Other debtors
496,035
403,756


Included within Other debtors is a loan to the Director, amounting to £429,249 (2023 - £396,205). Amounts repaid during the year totalled £450,000. The loan is repayable on demand and interest has been charged at a rate of 2.25%




6.


Current asset investments




Page 4

 
VANKEL LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
120
428

Other taxation and social security
188,583
166,769

Accruals and deferred income
11,000
7,865

199,703
175,062



8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1 (2023 - 1) Ordinary share of £1
1
1


 
Page 5