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Registered number: 07352432
V W Panels Limited
Unaudited Financial Statements
For The Year Ended 31 December 2025
GRH Accountancy Ltd
Cql House Alington Road
Little Barford
St. Neots
PE19 6YH
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 07352432
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 155,045 144,336
155,045 144,336
CURRENT ASSETS
Stocks 5 144,009 152,351
Debtors 6 432,819 424,986
Cash at bank and in hand 229,789 261,386
806,617 838,723
Creditors: Amounts Falling Due Within One Year 7 (362,423 ) (579,121 )
NET CURRENT ASSETS (LIABILITIES) 444,194 259,602
TOTAL ASSETS LESS CURRENT LIABILITIES 599,239 403,938
Creditors: Amounts Falling Due After More Than One Year 8 (73,918 ) (53,190 )
NET ASSETS 525,321 350,748
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 525,221 350,648
SHAREHOLDERS' FUNDS 525,321 350,748
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For the year ending 31 December 2025 the company was entitled to exemption from audit 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs Maria Lepore
Director
Mr Guiseppe Ventriglia
Director
14/05/2026
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
V W Panels Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07352432 . The registered office is 302 Ampthill Road, Bedford, MK42 9QS.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
10% CostTangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 10% Cost
Plant & Machinery 25% Cost
Motor Vehicles 25% Cost
Computer Equipment 25% Cost
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 33 (2024: 33)
33 33
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £ £
Cost
As at 1 January 2025 87,470 277,790 460,948 12,897 839,105
Additions 7,785 23,759 83,813 201 115,558
Disposals - - (91,187 ) - (91,187 )
As at 31 December 2025 95,255 301,549 453,574 13,098 863,476
...CONTINUED
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Depreciation
As at 1 January 2025 72,919 221,567 393,357 6,926 694,769
Provided during the period 5,838 33,143 62,996 2,300 104,277
Disposals - - (90,615 ) - (90,615 )
As at 31 December 2025 78,757 254,710 365,738 9,226 708,431
Net Book Value
As at 31 December 2025 16,498 46,839 87,836 3,872 155,045
As at 1 January 2025 14,551 56,223 67,591 5,971 144,336
5. Stocks
2025 2024
£ £
Stock 144,009 152,351
6. Debtors
2025 2024
£ £
Due within one year
Trade debtors 277,381 245,415
Other debtors 155,438 179,571
432,819 424,986
7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 107,069 115,881
Other creditors 43,656 216,594
Taxation and social security 211,698 246,646
362,423 579,121
8. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Bank loans 73,918 53,190
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9. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 100 100
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