REGISTERED NUMBER: 01334021 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

VOLVINA LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

S L Toone

R J Toone

E R Toone

REGISTERED OFFICE:

1-3 Duke Street

Northampton

NN1 3BE

REGISTERED NUMBER:

01334021 (England and Wales)

ACCOUNTANTS:

Shaw Gibbs Limited

Eagle House

28 Billing Road

Northampton

NN1 5AJ

BANKERS:

National Westminster Bank Plc

41 The Drapery

Northampton

NN1 2EY

FIXED ASSETS

Tangible assets

4

26,382

28,653

CURRENT ASSETS

Stocks

45,248

40,713

Debtors

5

154,392

117,234

Cash at bank and in hand

10,009

47,517

209,649

205,464

CREDITORS

Amounts falling due within one year

6

293,122

130,213

NET CURRENT (LIABILITIES)/ASSETS

(83,473

)

75,251

TOTAL ASSETS LESS CURRENT LIABILITIES

(57,091

)

103,904

CREDITORS

Amounts falling due after more than one year

7

(18,383

)

(88,238

)

PROVISIONS FOR LIABILITIES

-

(4,093

)

NET (LIABILITIES)/ASSETS

(75,474

)

11,573

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

(75,574

)

11,473

SHAREHOLDERS' FUNDS

(75,474

)

11,573

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 March 2025 and were signed on its behalf by:

S L Toone - Director

R J Toone - Director

E R Toone - Director

1.	STATUTORY INFORMATION

Volvina Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates

The preparation of financial statements requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the company accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements are disclosed within the individual accounting policies below.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

at varying rates on cost

Motor vehicles

-

20% on cost

Fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Where parts of an item of property, plant and equipment have different useful lives, they are accounted for as separate items of property, plant and equipment.

Depreciation methods, useful lives and residual values are reviewed at each balance sheet date. The selection of these residual values and estimated lives requires the exercise of judgement. The directors are required to assess whether there is an indication of impairment to the carrying value of assets. In making that assessment, judgements are made in estimating value in use. The directors consider that the individual carrying values of assets are supportable by their value in use.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short term deposits with an original maturity date of three months or less.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the statement of comprehensive income under administrative expenses.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs

The company makes contributions to the personal pension schemes of the directors and eligible employees. Contributions are charged to the profit and loss account in the period to which they relate.

Government grants

Government grant income is recognised as it is receivable, to the extent that the grant has been expended by the end of the financial year.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2023 - 21 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 January 2024

93,775

75,257

169,032

Additions

1,018

17,495

18,513

Disposals

-

(23,091

)

(23,091

)

At 31 December 2024

94,793

69,661

164,454

DEPRECIATION

At 1 January 2024

79,333

61,046

140,379

Charge for year

4,240

5,768

10,008

Eliminated on disposal

-

(12,315

)

(12,315

)

At 31 December 2024

83,573

54,499

138,072

NET BOOK VALUE

At 31 December 2024

11,220

15,162

26,382

At 31 December 2023

14,442

14,211

28,653

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

104,894

66,076

Amounts recoverable on

contracts

27,317

17,435

Tax

-

13,312

Deferred tax asset

15,908

-

Prepayments and accrued income

6,273

20,411

154,392

117,234

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

69,855

63,971

Trade creditors

50,433

12,992

Amounts owed to group undertakings

43,400

-

Social security and other taxes

18,015

18,333

VAT

33,014

18,028

Other creditors

9,677

6,899

Directors' current accounts

60,000

-

Accruals and deferred income

8,728

9,990

293,122

130,213

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans - 2-5 years

18,383

88,238

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2024

2023

£

£

Within one year

64,120

53,603

Between one and five years

44,221

39,393

108,341

92,996

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

100

Ordinary

£1

100

100