| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 |
| FOR |
| VEITCH TRADING LIMITED |
| PREVIOUSLY KNOWN AS |
| PLAYSAFE SYSTEMS LIMITED |
| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 |
| FOR |
| VEITCH TRADING LIMITED |
| PREVIOUSLY KNOWN AS |
| PLAYSAFE SYSTEMS LIMITED |
| VEITCH TRADING LIMITED (REGISTERED NUMBER: 01135951) |
| PREVIOUSLY KNOWN AS PLAYSAFE SYSTEMS LIMITED |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| VEITCH TRADING LIMITED |
| PREVIOUSLY KNOWN AS PLAYSAFE SYSTEMS LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| 20 Harcourt Street |
| London |
| W1H 4HG |
| VEITCH TRADING LIMITED (REGISTERED NUMBER: 01135951) |
| PREVIOUSLY KNOWN AS PLAYSAFE SYSTEMS LIMITED |
| BALANCE SHEET |
| 31 DECEMBER 2024 |
| 2024 | 2023 |
| Notes | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| VEITCH TRADING LIMITED (REGISTERED NUMBER: 01135951) |
| PREVIOUSLY KNOWN AS PLAYSAFE SYSTEMS LIMITED |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| 1. | STATUTORY INFORMATION |
| Veitch Trading Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover consists of the value of sales deliveries and service work performed in the year, excluding value added tax. |
| Intangible assets |
| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
| Tangible fixed assets |
| Depreciation has been provided so as to reduce assets to their net realisable value by equal annual instalments. The rates used are 25% for computer equipment and 20% for plant and machinery and motor vehicles. |
| Stocks |
| Stocks are valued at the lower of cost or net realisable value. Cost is defined as the actual cost of purchase of stocks on a first in, first out basis, excluding overheads and transport.Provision is made for obsolete and slow moving items. |
| Pension costs and other post-retirement benefits |
| The company operates defined contribution pension schemes which are open to all qualified employees. Contributions are charged to profit as and when made. Funds are held by insurance companies and are independent of the company. |
| Foreign currency |
| Transactions in foreign currencies have been translated into sterling at average rates. Assets and liabilities of the company at the year end denominated in foreign currencies have been translated at rates ruling at the year end which have been taken as $1.254 = £1 ( 2023: $1.27 = £1 ) for the US Dollar and €1.2047 = £1 ( 2023:€1.15 = £1 ) for the Euro. All profits and losses on translation have been dealt with as part of the gross profit of the company. |
| Use of assumptions and estimates |
| The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, income and expenses. The estimates and associated assumptions are based on historical experience and various other factors that are believed to be reasonable, the results of which form the basis of making judgements about carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates. |
| Critical estimates and assumptions are made in particular with regard to establishing depreciation periods for the group and the calculation of irrecoverable debts and provisions for obsolete and slow moving stock. |
| VEITCH TRADING LIMITED (REGISTERED NUMBER: 01135951) |
| PREVIOUSLY KNOWN AS PLAYSAFE SYSTEMS LIMITED |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INTANGIBLE FIXED ASSETS |
| Other |
| intangible |
| assets |
| £ |
| COST |
| At 1 January 2024 |
| Disposals | ( |
) |
| At 31 December 2024 |
| AMORTISATION |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 31 December 2024 |
| NET BOOK VALUE |
| At 31 December 2024 |
| At 31 December 2023 |
| 5. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1 January 2024 |
| Disposals | ( |
) |
| At 31 December 2024 |
| DEPRECIATION |
| At 1 January 2024 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 31 December 2024 |
| NET BOOK VALUE |
| At 31 December 2024 |
| At 31 December 2023 |
| VEITCH TRADING LIMITED (REGISTERED NUMBER: 01135951) |
| PREVIOUSLY KNOWN AS PLAYSAFE SYSTEMS LIMITED |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| 9. | OTHER FINANCIAL COMMITMENTS |
| At 31st December 2024 the company had commitments under operating leases expiring between 1 and 5 years totalling £182,750 ( 31st December 2023: £488,472). |
| 10. | RELATED PARTY DISCLOSURES |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
| 11. | ULTIMATE CONTROLLING PARTY |
| The two directors, Mr CR Veitch and Mr NJ Veitch, are the ultimate controlling parties by virtue of their ownership of Veitch Family Holdings Limited, the holding company of Playsafe Systems Limited. |