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Company Registration No. 08337309 (England and Wales)
VELCO TRANS LTD Unaudited accounts for the year ended 31 December 2024
VELCO TRANS LTD Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
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VELCO TRANS LTD Company Information for the year ended 31 December 2024
Director
Costel Velicu
Company Number
08337309 (England and Wales)
Registered Office
172 BENSON CLOSE LUTON LU3 3QR ENGLAND
Accountants
Tahas Kimti Ltd 5 Ruislip Road Greenford UB6 9QD
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VELCO TRANS LTD Statement of financial position as at 31 December 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
4
297,448 
283,795 
Current assets
Debtors
5
134,140 
182,681 
Cash at bank and in hand
192,557 
163,534 
326,697 
346,215 
Creditors: amounts falling due within one year
6
(227,753)
(236,738)
Net current assets
98,944 
109,477 
Net assets
396,392 
393,272 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
396,292 
393,172 
Shareholders' funds
396,392 
393,272 
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 8 September 2025 and were signed on its behalf by
Costel Velicu Director Company Registration No. 08337309
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VELCO TRANS LTD Notes to the Accounts for the year ended 31 December 2024
1
Statutory information
VELCO TRANS LTD is a private company, limited by shares, registered in England and Wales, registration number 08337309. The registered office is 172 BENSON CLOSE, LUTON, LU3 3QR, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% Reducing Balance
Fixtures & fittings
20% Reducing Balance
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
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VELCO TRANS LTD Notes to the Accounts for the year ended 31 December 2024
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Fixtures & fittings 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 January 2024
- 
518,060 
12,602 
530,662 
Additions
113,565 
14,500 
- 
128,065 
Disposals
- 
(102,662)
- 
(102,662)
At 31 December 2024
113,565 
429,898 
12,602 
556,065 
Depreciation
At 1 January 2024
- 
239,428 
7,439 
246,867 
Charge for the year
- 
44,938 
1,033 
45,971 
On disposals
- 
(34,221)
- 
(34,221)
At 31 December 2024
- 
250,145 
8,472 
258,617 
Net book value
At 31 December 2024
113,565 
179,753 
4,130 
297,448 
At 31 December 2023
- 
278,632 
5,163 
283,795 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
81,140 
129,681 
Other debtors
53,000 
53,000 
134,140 
182,681 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
26,100 
29,158 
Trade creditors
1,152 
811 
Taxes and social security
89,233 
50,118 
Other creditors
109,468 
154,851 
Accruals
1,800 
1,800 
227,753 
236,738 
7
Average number of employees
During the year the average number of employees was 6 (2023: 9).
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