REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Report of the Directors and |
|
Unaudited Financial Statements |
|
for the Year Ended 31 December 2021 |
|
for |
|
VANTASTEC LIMITED |
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Report of the Directors and |
|
Unaudited Financial Statements |
|
for the Year Ended 31 December 2021 |
|
for |
|
VANTASTEC LIMITED |
VANTASTEC LIMITED (REGISTERED NUMBER: 05718421) |
|
|
|
|
|
|
Contents of the Financial Statements |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
|
|
|
|
Page |
|
Company Information | 1 |
|
Report of the Directors | 2 |
|
Income Statement | 3 |
|
Balance Sheet | 4 |
|
Notes to the Financial Statements | 6 |
|
VANTASTEC LIMITED |
|
Company Information |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
|
|
|
|
|
|
|
DIRECTORS: |
|
|
|
|
|
|
|
SECRETARY: |
|
|
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
|
|
ACCOUNTANTS: |
|
Fairway House |
Links Business Park |
St Mellons |
Cardiff |
CF3 OLT |
VANTASTEC LIMITED (REGISTERED NUMBER: 05718421) |
|
Report of the Directors |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
|
The directors present their report with the financial statements of the company for the year ended 31 December 2021. |
|
REVIEW OF BUSINESS |
The Directors are happy with the company's growth and strategic plan and have worked hard to maintain and build supply into 2022. |
|
DIRECTORS |
The directors shown below have held office during the whole of the period from 1 January 2021 to the date of this report. |
|
|
|
|
This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
|
ON BEHALF OF THE BOARD: |
|
|
|
|
|
|
|
|
|
VANTASTEC LIMITED (REGISTERED NUMBER: 05718421) |
|
Income Statement |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
|
2021 | 2020 |
Notes | £ | £ |
|
TURNOVER |
|
|
|
Cost of sales |
( |
) | ( |
) |
GROSS PROFIT |
|
|
|
Administrative expenses | ( |
) | ( |
) |
489,329 | 11,194 |
|
Other operating income |
|
|
OPERATING PROFIT | 5 |
|
|
|
|
Interest payable and similar
expenses |
( |
) |
( |
) |
PROFIT BEFORE TAXATION |
|
|
|
Tax on profit | ( |
) | ( |
) |
PROFIT/(LOSS) FOR THE
FINANCIAL YEAR |
|
( |
) |
VANTASTEC LIMITED (REGISTERED NUMBER: 05718421) |
|
Balance Sheet |
31 DECEMBER 2021 |
|
2021 | 2020 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 6 |
|
|
Tangible assets | 7 |
|
|
|
|
|
CURRENT ASSETS |
Stocks | 8 |
|
|
Debtors | 9 |
|
|
Cash at bank and in hand |
|
|
|
|
CREDITORS |
Amounts falling due within one year | 10 | ( |
) | ( |
) |
NET CURRENT ASSETS |
|
|
TOTAL ASSETS LESS CURRENT
LIABILITIES |
|
|
|
CREDITORS |
Amounts falling due after more than
one year |
11 |
( |
) |
( |
) |
|
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
|
|
VANTASTEC LIMITED (REGISTERED NUMBER: 05718421) |
|
Balance Sheet - continued |
31 DECEMBER 2021 |
|
2021 | 2020 |
Notes | £ | £ |
CAPITAL AND RESERVES |
Called up share capital | 12 |
|
|
Retained earnings | 13 |
|
|
SHAREHOLDERS' FUNDS |
|
|
|
|
|
|
|
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 were approved by the Board of Directors and authorised for issue on
|
|
|
|
|
|
|
|
VANTASTEC LIMITED (REGISTERED NUMBER: 05718421) |
|
Notes to the Financial Statements |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
|
1. | STATUTORY INFORMATION |
|
Vantastec Limited is a
|
|
The presentation currency of the financial statements is the Pound Sterling (£). |
|
|
2. | STATEMENT OF COMPLIANCE |
|
|
|
|
3. | ACCOUNTING POLICIES |
|
Basis of preparing the financial statements |
|
|
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
|
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
|
|
|
Tangible fixed assets |
|
Fixtures and fittings | - |
|
Motor vehicles | - |
|
Office equipment | - |
|
|
Stocks |
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 items. |
|
Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition. |
|
VANTASTEC LIMITED (REGISTERED NUMBER: 05718421) |
|
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
|
3. | ACCOUNTING POLICIES - continued |
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. |
|
Pension costs and other post-retirement benefits |
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. |
|
4. | EMPLOYEES AND DIRECTORS |
2021 | 2020 |
£ | £ |
Wages and salaries |
|
|
Social security costs |
|
|
Other pension costs |
|
|
|
|
|
The average number of employees during the year was as follows: |
2021 | 2020 |
|
Directors | 2 | 2 |
Sales | 4 | 4 |
Administration | 9 | 9 |
Workshop | 25 | 25 |
|
|
VANTASTEC LIMITED (REGISTERED NUMBER: 05718421) |
|
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
|
5. | OPERATING PROFIT |
|
The operating profit is stated after charging: |
|
2021 | 2020 |
£ | £ |
Depreciation - owned assets |
|
|
|
6. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
£ |
COST |
At 1 January 2021 |
|
Additions |
|
At 31 December 2021 |
|
NET BOOK VALUE |
At 31 December 2021 |
|
At 31 December 2020 |
|
|
7. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Motor | Office |
machinery | fittings | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 January 2021 |
|
|
|
|
|
Additions |
|
|
|
|
|
Disposals |
|
|
( |
) |
|
( |
) |
At 31 December 2021 |
|
|
|
|
|
DEPRECIATION |
At 1 January 2021 |
|
|
|
|
|
Charge for year |
|
|
|
|
|
Eliminated on disposal |
|
|
( |
) |
|
( |
) |
At 31 December 2021 |
|
|
|
|
|
NET BOOK VALUE |
At 31 December 2021 |
|
|
|
|
|
At 31 December 2020 |
|
|
|
|
|
VANTASTEC LIMITED (REGISTERED NUMBER: 05718421) |
|
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
|
8. | STOCKS |
2021 | 2020 |
£ | £ |
Work-in-progress |
|
|
Finished goods |
|
|
|
|
|
9. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade debtors |
|
|
Other debtors |
|
|
VAT | - | 2,908 |
Prepayments |
|
|
|
|
|
10. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Bank loans and overdrafts |
|
|
Hire purchase contracts |
|
|
Trade creditors |
|
|
Tax |
|
|
Social security and other taxes |
|
|
Other creditors |
|
|
Directors' current accounts | 1,040 | - |
Accruals and deferred income |
|
|
|
|
|
11. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR |
2021 | 2020 |
£ | £ |
Bank loans - 1-2 years |
|
|
Bank loans - 2-5 years |
|
|
Hire purchase contracts |
|
|
|
|
VANTASTEC LIMITED (REGISTERED NUMBER: 05718421) |
|
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
|
12. | CALLED UP SHARE CAPITAL |
|
|
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2021 | 2020 |
value: | £ | £ |
|
Ordinary | £1 | 1,000 | 2 |
(2020 - 2 ) |
|
998 Ordinary shares of £1 each were allotted and fully paid for
|
|
13. | RESERVES |
Retained |
earnings |
£ |
|
At 1 January 2021 |
|
Profit for the year |
|
Dividends | ( |
) |
At 31 December 2021 |
|
|
14. | ULTIMATE CONTROLLING PARTY |
|
There is no ultimate controlling party, each of the directors holds 50% of the shares issued. |