General Information
Vulcan Finance Limited is a private company, limited by shares, registered in England and Wales, registration number 02385634, registration address Northumberland Taxi & Coach Centre, South Albion Retail Park, Blyth, Northumberland, NE24 5BW.
The presentation currency is £ sterling.
| 1. |
Accounting policies
Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102(1A) The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves, respectively.
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
| Motor Vehicles |
25% Reducing Balance
|
| Computer Equipment |
15% Reducing Balance
|
|
| 2. |
Average number of employees
Average number of employees during the year was 0 (2024 : 0).
|
| 3. |
Tangible fixed assets
| Cost or valuation |
Motor Vehicles |
|
Computer Equipment |
|
Total |
| |
£ |
|
£ |
|
£ |
| At 01 November 2024 |
65,507 |
|
4,598 |
|
70,105 |
| Additions |
13,500 |
|
2,598 |
|
16,098 |
| Disposals |
(57,107) |
|
- |
|
(57,107) |
| At 31 October 2025 |
21,900 |
|
7,196 |
|
29,096 |
| Depreciation |
| At 01 November 2024 |
19,491 |
|
57 |
|
19,548 |
| Charge for year |
10,435 |
|
779 |
|
11,214 |
| On disposals |
(25,970) |
|
- |
|
(25,970) |
| At 31 October 2025 |
3,956 |
|
836 |
|
4,792 |
| Net book values |
| Closing balance as at 31 October 2025 |
17,944 |
|
6,360 |
|
24,304 |
| Opening balance as at 01 November 2024 |
46,016 |
|
4,541 |
|
50,557 |
|
| 4. |
Debtors: amounts falling due within one year
|
2025
£ |
|
2024
£ |
| Trade Debtors |
8,011 |
|
29,361 |
| Other Debtors |
313,551 |
|
301,651 |
|
321,562 |
|
331,012 |
|
| 5. |
Creditors: amount falling due within one year
|
2025
£ |
|
2024
£ |
| Corporation Tax |
0 |
|
21,328 |
| Accrued Expenses |
1,008 |
|
1,008 |
| Directors' Current Accounts |
5,200 |
|
10,400 |
|
6,208 |
|
32,736 |
|
| 6. |
Share premium account
|
2025
£ |
|
2024
£ |
| Equity Share Premium b/fwd |
425 |
|
425 |
|
425 |
|
425 |
|
| 7. |
Directors advances, credits and guarantees
Included in creditors: amounts due within one year, are amounts owed to the Director from the Company of £5,200 (2024 - £10,400)
|
| 8. |
Disclosure of controlling party
For the whole of the period under review the company was under the control of Hugh Hurst, director of the company.
|
2
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