VTS Electrical Ltd - Filleted accounts

Registered number

10965742

VTS Electrical Ltd

Unaudited Filleted Accounts

31 December 2024

VTS Electrical Ltd
Registered number:		10965742
Balance Sheet
as at 31 December 2024

Notes			2024			2023
£				£
Fixed assets
Tangible assets	3		229			455

Current assets
Debtors	4	58,203			38,447
Cash at bank and in hand		997			2,014
		59,200			40,461

Creditors: amounts falling due within one year	5	(46,537)			(32,776)

Net current assets			12,663			7,685

Total assets less current liabilities			12,892			8,140

Creditors: amounts falling due after more than one year	6		(2,835)			(5,761)



Net assets			10,057			2,379

Capital and reserves
Called up share capital			4			4
Profit and loss account			10,053			2,375

Shareholders' funds			10,057			2,379

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




P Vernon
Director
Approved by the board on 19 September 2025

VTS Electrical Ltd
Notes to the Accounts
for the year ended 31 December 2024


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Fixtures, fittings, tools and equipment			over 5 years
	Computer Equipment			over 3 years

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.


2	Employees					2024		2023
Number							Number

	Average number of persons employed by the company					2		2


3	Tangible fixed assets
				Computer Equipment		Equipment		Total
£					£		£
	Cost
	At 1 January 2024			1,646		1,132		2,778
	At 31 December 2024			1,646		1,132		2,778

	Depreciation
	At 1 January 2024			1,645		678		2,323
	Charge for the year			-		226		226
	At 31 December 2024			1,645		904		2,549

	Net book value
	At 31 December 2024			1		228		229
	At 31 December 2023			1		454		455


4	Debtors					2024		2023
£							£

	Trade debtors					2,726		1,622
	Other debtors					55,477		36,825
						58,203		38,447


5	Creditors: amounts falling due within one year					2024		2023
£							£

	Bank loans and overdrafts					10,503		3,463
	Taxation and social security costs					34,528		28,192
	Other creditors					1,506		1,121
						46,537		32,776


6	Creditors: amounts falling due after one year					2024		2023
£							£

	Bank loans					2,835		5,761


7	Loans to directors
	Description and conditions	B/fwd	Paid		Repaid		C/fwd
£			£		£		£
	Peter Vernon
	Loan 1	36,825		132,955		(114,302)		55,478

		36,825		132,955		(114,302)		55,478


8	Other information

	VTS Electrical Ltd is a private company limited by shares and incorporated in England. Its registered office is:
	300 St Marys Road
	Garston
	Liverpool
	Merseyside
	L19 0NQ