REGISTERED NUMBER: 07960349 (England and Wales)

VELOC LIMITED

Unaudited Financial Statements

for the Year Ended 28 February 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

S Allanson

Mrs M A Allanson

SECRETARY:

Mrs M A Allanson

REGISTERED OFFICE:

1 Park View Court

St Paul's Road

Shipley

West Yorkshire

BD18 3DZ

REGISTERED NUMBER:

07960349 (England and Wales)

ACCOUNTANTS:

Maclean & Company

1 Park View Court

St Paul's Road

Shipley

West Yorkshire

BD18 3DZ

FIXED ASSETS

Intangible assets

4

65,123

73,209

Tangible assets

5

1,762

2,643

66,885

75,852

CURRENT ASSETS

Cash at bank

44,193

46,433

CREDITORS

Amounts falling due within one year

6

4,675

4,465

NET CURRENT ASSETS

39,518

41,968

TOTAL ASSETS LESS CURRENT LIABILITIES

106,403

117,820

CAPITAL AND RESERVES

Called up share capital

200

200

Retained earnings

106,203

117,620

SHAREHOLDERS' FUNDS

106,403

117,820

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 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 30 October 2025 and were signed on its behalf by:

S Allanson - Director

1.	STATUTORY INFORMATION

VELOC 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.

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.

Turnover

Turnover represents net invoiced sales of goods and services, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

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

Computer equipment & software

-

33% on cost

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.

Research and development

The company capitalises expenditure on specific methodology, tools and practices which it will actively market in future years. Such expenditure is amortised over the succeeding five years in equal instalments.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Development

Goodwill

costs

Totals

£

£

£

COST

At 1 March 2024

40,000

281,466

321,466

Additions

-

17,649

17,649

At 28 February 2025

40,000

299,115

339,115

AMORTISATION

At 1 March 2024

40,000

208,257

248,257

Amortisation for year

-

25,735

25,735

At 28 February 2025

40,000

233,992

273,992

NET BOOK VALUE

At 28 February 2025

-

65,123

65,123

At 29 February 2024

-

73,209

73,209

5.	TANGIBLE FIXED ASSETS

Computer

equipment

& software

£

COST

At 1 March 2024

and 28 February 2025

67,297

DEPRECIATION

At 1 March 2024

64,654

Charge for year

881

At 28 February 2025

65,535

NET BOOK VALUE

At 28 February 2025

1,762

At 29 February 2024

2,643

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.25

29.2.24

£

£

Trade creditors

288

730

Taxation

2,737

2,115

Other creditors

1,650

1,620

4,675

4,465