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Company No: 06628585 (England and Wales)

# V2L LIMITED

### Unaudited Financial Statements
For the financial year ended 31 July 2025
Pages for filing with the registrar

V2L LIMITED

## Unaudited Financial Statements

For the financial year ended 31 July 2025

Contents

V2L LIMITED

## BALANCE SHEET

As at 31 July 2025
V2L LIMITED

## BALANCE SHEET (continued)

As at 31 July 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 3 | 1,660,580 |  | 1,334,236
|  | 1,660,580 |  | 1,334,236
Current assets |  |  |  |
Stocks |  | 1,961,457 |  | 1,999,057
Debtors |  |  |  |
- due within one year | 4 | 119,086 |  | 191,180
- due after more than one year | 4 | 110,000 |  | 0
Cash at bank and in hand |  | 81,910 |  | 250,935
|  | 2,272,453 |  | 2,441,172
Creditors: amounts falling due within one year | 5 | ( 195,696) |  | ( 469,061)
Net current assets |  | 2,076,757 |  | 1,972,111
Total assets less current liabilities |  | 3,737,337 |  | 3,306,347
Creditors: amounts falling due after more than one year | 6 | ( 423,048) |  | ( 320,975)
Provision for liabilities | 7 | ( 319,807) |  | ( 237,422)
Net assets |  | 2,994,482 |  | 2,747,950
Capital and reserves |  |  |  |
Called-up share capital |  | 51 |  | 51
Revaluation reserve |  | 523,633 |  | 523,633
Capital redemption reserve |  | 49 |  | 49
Profit and loss account |  | 2,470,749 |  | 2,224,217
Total shareholders' funds |  | 2,994,482 |  | 2,747,950

For the financial year ending 31 July 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of V2L Limited (registered number: 06628585) were approved and authorised for issue by the Director on 07 November 2025. They were signed on its behalf by:

Mr B Humphries Director |

V2L LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2025
V2L LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2025

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

##### General information and basis of accounting

V2L Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Fernhill Depot, Todd Street, Bury, BL9 5BJ, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

##### Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

##### Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

##### Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings | 50 years straight line
Plant and machinery | 25 years straight line
Vehicles | 20 % reducing balance
Fixtures and fittings | 5 years straight line
Office equipment | 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Properties whose fair value can be measured reliably are held under the revaluation model and are carried at a revalued amount, being their fair value at the date of valuation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The fair value of the land and buildings is usually considered to be their market value.
Revaluation gains and losses are recognised in other comprehensive income and accumulated in equity, except to the extent that a revaluation gain reverses a revaluation loss previously recognised in profit or loss or a revaluation loss exceeds the accumulated revaluation gains recognised in equity; such gains and losses are recognised in profit or loss.

##### Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

##### Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

##### Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

##### Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

##### Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

##### Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including the director | 5 |  | 5

#### 3. Tangible assets

| Land and buildings |  | Plant and machinery |  | Vehicles |  | Fixtures and fittings |  | Office equipment |  | Total
| £ |  | £ |  | £ |  | £ |  | £ |  | £
Cost |  |  |  |  |  |  |  |  |  |  |
At 01 August 2024 | 975,000 |  | 0 |  | 496,870 |  | 21,874 |  | 20,951 |  | 1,514,695
Additions | 0 |  | 108,333 |  | 384,659 |  | 0 |  | 0 |  | 492,992
Disposals | 0 |  | 0 |  | ( 154,840) |  | 0 |  | 0 |  | ( 154,840)
At 31 July 2025 | 975,000 |  | 108,333 |  | 726,689 |  | 21,874 |  | 20,951 |  | 1,852,847
Accumulated depreciation |  |  |  |  |  |  |  |  |  |  |
At 01 August 2024 | 0 |  | 0 |  | 143,641 |  | 18,752 |  | 18,066 |  | 180,459
Charge for the financial year | 0 |  | 722 |  | 72,625 |  | 1,237 |  | 2,024 |  | 76,608
Disposals | 0 |  | 0 |  | ( 64,800) |  | 0 |  | 0 |  | ( 64,800)
At 31 July 2025 | 0 |  | 722 |  | 151,466 |  | 19,989 |  | 20,090 |  | 192,267
Net book value |  |  |  |  |  |  |  |  |  |  |
At 31 July 2025 | 975,000 |  | 107,611 |  | 575,223 |  | 1,885 |  | 861 |  | 1,660,580
At 31 July 2024 | 975,000 |  | 0 |  | 353,229 |  | 3,122 |  | 2,885 |  | 1,334,236

#### 4. Debtors

| 2025 |  | 2024
| £ |  | £
Debtors: amounts falling due within one year |  |  |
Trade debtors | 51,923 |  | 123,596
S455 | 37,604 |  | 0
Other debtors | 29,559 |  | 67,584
| 119,086 |  | 191,180
Debtors: amounts falling due after more than one year |  |  |
Other debtors | 110,000 |  | 0

#### 5. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Bank loans | 9,277 |  | 28,000
Trade creditors | 19,379 |  | 168,366
Taxation and social security | 31,838 |  | 144,669
Obligations under finance leases and hire purchase contracts | 113,768 |  | 108,326
Other creditors | 21,434 |  | 19,700
| 195,696 |  | 469,061

#### 6. Creditors: amounts falling due after more than one year

| 2025 |  | 2024
| £ |  | £
Bank loans | 0 |  | 91,012
Obligations under finance leases and hire purchase contracts | 423,048 |  | 229,963
| 423,048 |  | 320,975

There are no amounts included above in respect of which any security has been given by the small entity.

#### 7. Provision for liabilities

| 2025 |  | 2024
| £ |  | £
Deferred tax | 319,807 |  | 237,422

#### 8. Ultimate controlling party

Parent Company:

B Humphries Holdings Limited
Fernhill Depot Todd Street Bury