Registered number
05055502
Vertco Limited
Report and Accounts
31 March 2025
Vertco Limited
Registered number: 05055502
Balance Sheet
as at 31 March 2025
31st March 31st March
Notes 2025 2024
Fixed assets £ £
Tangible assets 3 155,976 150,358
Current assets
Stocks 67,183 67,482
Debtors 4 286,080 237,257
Cash at bank and in hand 41,719 161,939
394,982 466,678
Creditors: amounts falling due within one year 5 (171,730) (166,788)
Net current assets 223,252 299,890
Total assets less current liabilities 379,228 450,248
Creditors: amounts falling due after more than one year 6 (252,809) (296,605)
Net assets 126,419 153,643
Capital and reserves
Called up share capital 100 100
Profit and loss account 126,319 153,543
Shareholders' funds 126,419 153,643
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 AM Arkinstall
Director
Approved by the board on 10 July 2025
Vertco Limited
Notes to the Accounts
for the year ended 31 March 2025
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.
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, at rates calculated to write off the cost, less estimated residual value, of each asset over its expected useful life, as follows:
Leasehold improvements 20% reducing balance
Plant and machinery 10% to 20% reducing balance and 33.33% straight line
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.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current 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. 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. Current and deferred tax liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
31st March 31st March
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 13 17
3 Tangible fixed assets
Leasehold improvements Plant and machinery Total
£ £ £
Cost
At 1 April 2024 65,753 503,748 569,501
Additions - 30,636 30,636
At 31 March 2025 65,753 534,384 600,137
Depreciation
At 1 April 2024 53,728 365,415 419,143
Charge for the year 2,476 22,542 25,018
At 31 March 2025 56,204 387,957 444,161
Net book value
At 31 March 2025 9,549 146,427 155,976
At 31 March 2024 12,025 138,333 150,358
31st March 31st March
4 Debtors 2025 2024
£ £
Trade debtors 193,205 173,563
Other debtors 92,875 63,694
286,080 237,257
31st March 31st March
5 Creditors: amounts falling due within one year 2025 2024
£ £
Bank loan 6,100 5,900
Obligations under finance lease and hire purchase contracts 11,616 6,000
Trade creditors 120,494 113,119
Other taxation and social security costs 23,136 25,875
Accrued expenses 10,384 15,894
171,730 166,788
6 Creditors: amounts falling due after more than one year
Bank loan 27,355 33,544
Director's loan account 202,369 246,563
Obligations under finance lease and hire purchase contracts 23,085 16,498
252,809 296,605
7 Related party transactions
TG Beaver
Director
The loan is secured by a debenture dated 27th May 2009
over the assets of the company
Amount owed to the related party 202,369 246,563
Total monies owed to the director 202,369 246,563
8 Other information
Vertco Limited is a private company limited by shares and incorporated in England and Wales. The registered office is:
Unit E2
Countess Avenue
Stanley Green Trading Estate
Cheadle Cheshire
SK8 6QU
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