Registration number: 06368745

3 V Architectural Hardware Limited

Contents

Statement of Financial Position	1 to 2
Notes to the Financial Statements	3 to 7

3 V Architectural Hardware Limited

(Registration number: 06368745)
Statement of Financial Position as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	18,978	20,721
Current assets
Stocks	5	286,314	330,911
Debtors	6	510,954	544,645
Cash at bank and in hand		509,955	920,038
		1,307,223	1,795,594
Creditors: Amounts falling due within one year	7	(431,781)	(627,545)
Net current assets		875,442	1,168,049
Total assets less current liabilities		894,420	1,188,770
Provisions for liabilities		(3,655)	(3,965)
Net assets		890,765	1,184,805
Capital and reserves
Called up share capital		100,000	100,000
Profit and loss account		790,765	1,084,805
Shareholders' funds		890,765	1,184,805

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

Approved and authorised by the Board on 8 April 2025 and signed on its behalf by:
 

3 V Architectural Hardware Limited

(Registration number: 06368745)
Statement of Financial Position as at 31 December 2024

......................................... Mr J A Holmes Company secretary and director

......................................... Mr C F Taylor Director

3 V Architectural Hardware Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is: Knoll House, Knoll Road, Camberley, Surrey, GU15 3SY. England.

2	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 statements 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.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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.

3 V Architectural Hardware Limited

Notes to the Financial Statements for the Year Ended 31 December 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:

Asset class	Depreciation method and rate
Plant and machinery	25% reducing balance
Fixtures, fittings and equipment	20%/25% reducing balance
Motor vehicles	25% reducing balance

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

Employee benefits

Short-term employee benefits are recognised as an expense in the period which they are incurred.

3 V Architectural Hardware Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 19 (2023 - 19).

3 V Architectural Hardware Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

4	Tangible assets

	Fixtures and fittings £	Plant and machinery £	Motor vehicles  £	Total £
Cost or valuation
At 1 January 2024	13,574	29,210	22,994	65,778
Additions	-	4,064	-	4,064
At 31 December 2024	13,574	33,274	22,994	69,842
Depreciation
At 1 January 2024	7,308	17,825	19,924	45,057
Charge for the year	1,412	3,627	768	5,807
At 31 December 2024	8,720	21,452	20,692	50,864
Carrying amount
At 31 December 2024	4,854	11,822	2,302	18,978
At 31 December 2023	6,266	11,385	3,070	20,721

5

Stocks

	2024 £	2023 £
Finished goods and goods for resale	286,314	330,911

6

Debtors

	2024 £	2023 £
Trade debtors	411,103	504,154
Other debtors	89,171	9,094
Prepayments	10,680	31,397
	510,954	544,645

3 V Architectural Hardware Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

7

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Trade creditors		318,968	480,887
Amounts owed to group undertakings and undertakings in which the company has a participating interest		9,673	646
Taxation and social security		88,000	77,841
Accruals and deferred income		15,140	65,595
Other creditors		-	2,576
		431,781	627,545

8	Financial commitments, guarantees and contingencies

Amounts not provided for in the statement of financial position

The total amount of financial commitments not included in the statement of financial position is £19,229 (2023 - £Nil).

9	Parent and ultimate parent undertaking

The company's immediate parent is Gebruder Vieler GmbH , incorporated in Germany.

 The most senior parent entity producing publicly available financial statements is Gebruder Vieler GmbH. These financial statements are available upon request from Stenglingser Weg 65, D-58642, Iserlohn, Germany, being the registered office of the parent entity.