VELVET DIGITAL LTD


Directors	STOKES, Anna, Dr
	WHITE, Anna Jane
	WHITE, Marcos, Dr


Registered Address	6-8 Wormalds Yard King Street
	Huddersfield
	United Kingdom
	HD1 2QR


Registered Number	10175805 (England and Wales)

Balance Sheet as at
31 March 2025

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	3		7,379		4,623
			7,379		4,623
Current assets
Stocks		40,012		42,959
Debtors	4	49,732		52,618
		89,744		95,577
Creditors amounts falling due within one year	5	(245,848)		(286,695)
Net current assets (liabilities)			(156,104)		(191,118)
Total assets less current liabilities			(148,725)		(186,495)
Creditors amounts falling due after one year	6		(12,632)		(13,479)
Net assets			(161,357)		(199,974)
Capital and reserves
Called up share capital			100		100
Profit and loss account			(161,457)		(200,074)
Shareholders' funds			(161,357)		(199,974)

The company was entitled to exemption from audit for this reporting period 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 Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 14 October 2025, and are signed on its behalf by:

WHITE, Marcos, Dr
Director
Registered Company No. 10175805

VELVET DIGITAL LTD

Notes to the Financial Statements
for the year ended 31 March 2025

1.	Accounting policies

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

	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 policy
	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.

	Defined contribution pension plan
	The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

	Current 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 balance sheet date.

Current 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 balance sheet date.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

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


	Reducing balance (%)	Straight line (years)
Plant and machinery	15	-
Fixtures and fittings	15	-
Office Equipment	-	3

	Finance leases and hire purchase contracts
	Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.

	Stocks and work in progress
	Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	9		7

3.	Tangible fixed assets

	Plant & machinery	Office Equipment	Total
	£	£	£
Cost or valuation
At 01 April 24	9,860	1,690	11,550
Additions	182	4,918	5,100
At 31 March 25	10,042	6,608	16,650
Depreciation and impairment
At 01 April 24	5,237	1,690	6,927
Charge for year	721	1,623	2,344
At 31 March 25	5,958	3,313	9,271
Net book value
At 31 March 25	4,084	3,295	7,379
At 31 March 24	4,623	-	4,623

4.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	49,695	51,253
Other debtors	37	1,365
Total	49,732	52,618

5.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	36,664	57,093
Bank borrowings and overdrafts	12,569	14,759
Taxation and social security	7,900	3,099
Finance lease and HP contracts	984	-
Other creditors	187,731	211,744
Total	245,848	286,695

6.	Creditors: amounts due after one year

	2025	2024
	£	£
Bank borrowings and overdrafts	9,108	13,479
Other creditors	3,524	-
Total	12,632	13,479

7.	Secured creditors
	The following secured debts are included within creditors: Bank Loans £13,479 (2024: £22,999) Hire Purchase £4,508 (2024: £nil) The hire purchase liability was secured on the assets to which it relates. The bank loans were secured by a debenture over the assets of the company.