Registration number:
Vectorwell Limited
for the Year Ended 30 August 2024
Vectorwell Limited
Contents
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Statement of Financial Position |
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Notes to the Unaudited Financial Statements |
Vectorwell Limited
(Registration number: 05858926)
Statement of Financial Position as at 30 August 2024
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2023 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Retained earnings |
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Shareholders' funds |
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Vectorwell Limited
(Registration number: 05858926)
Statement of Financial Position as at 30 August 2024
For the financial year ending 30 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Approved and authorised by the
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Vectorwell Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 August 2024
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General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
England
These financial statements were authorised for issue by the
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The financial statments are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
When goods and services are being supplied to customers under long term contract, income is recognised as a percentage completion of the contract. The differences between amounts credited to turnover by this method and stage payments received or receivable, after providing for costs to completion where applicable, is shown in the statement of financial position as amounts recoverable on contracts (debtors) or payments received on account of contracts (creditors).
In respect of long term contracts and contracts for ongoing services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long term contracts and contracts for ongoing services is recognised by reference to the stage of completion.
Vectorwell Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 August 2024
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
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Asset class |
Depreciation method and rate |
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Leasehold improvements |
10% straight line |
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Office equipment |
3 year straight line |
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Financial instruments
Classification
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Vectorwell Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 August 2024
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Tangible assets |
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Furniture, fittings and equipment |
Leasehold Improvements |
Total |
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Cost or valuation |
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At 31 August 2023 |
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At 30 August 2024 |
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Depreciation |
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At 31 August 2023 |
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Charge for the year |
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At 30 August 2024 |
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Carrying amount |
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At 30 August 2024 |
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At 30 August 2023 |
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Debtors |
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Current |
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Trade debtors |
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Amounts owed by related parties |
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Prepayments |
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Other debtors |
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Vectorwell Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 August 2024
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Creditors |
Creditors: amounts falling due within one year
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Due within one year |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Parent and ultimate parent undertaking |
The company's immediate parent is