VTK Structures Limited
Unaudited Financial Statements
For the year ended 31 December 2022
Pages for Filing with Registrar
Company Registration No. 07245575 (England and Wales)
VTK Structures Limited
Balance Sheet
As at 31 December 2022
Page 1
2022
2021
Notes
£
£
£
£
Fixed assets
Tangible assets
3
33,144
33,144
Current assets
Debtors
4
22,369
14,691
Cash at bank and in hand
739
1,404
23,108
16,095
Creditors: amounts falling due within one year
5
(463,855)
(498,488)
Net current liabilities
(440,747)
(482,393)
Net liabilities
(407,603)
(449,249)
Capital and reserves
Called up share capital
6
100
100
Profit and loss reserves
(407,703)
(449,349)
Total equity
(407,603)
(449,249)
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 27 September 2023
S. D. Kent
Director
Company Registration No. 07245575
VTK Structures Limited
Notes to the Financial Statements
For the year ended 31 December 2022
Page 2
1
Accounting policies
Company information
VTK Structures Limited is a private company limited by shares incorporated in England and Wales. The registered office is 73 Maple Road, Maple Works, Surbiton, KT6 4AG.
1.1
Accounting convention
These financial statements have been prepared in accordance with Section 1A of FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
At the Balance Sheet date the company had net liabilities of £407,603. At the time of approving the financial statements the Director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the Director continues to adopt the going concern basis of accounting.true
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and machinery
5 years straight line basis
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.
1.4
Cash and cash equivalents
Cash and cash equivalents include cash in hand and deposits held at call with banks. Bank overdrafts are shown within borrowings in current liabilities.
1.5
Financial instruments
The company only has financial instruments classified as basic and measured at amortised cost. The company has no financial instruments classified as 'other' or financial instruments measured at fair value.
1.6
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
VTK Structures Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2022
Page 3
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was nil (2021: nil).
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2022 and 31 December 2022
53,538
Depreciation and impairment
At 1 January 2022 and 31 December 2022
20,394
Carrying amount
At 31 December 2022
33,144
At 31 December 2021
33,144
No depreciation was charged in the year as the assets were not in use.
4
Debtors
2022
2021
Amounts falling due within one year:
£
£
Other debtors
22,369
14,691
5
Creditors: amounts falling due within one year
2022
2021
£
£
Trade creditors
9,694
55,352
Taxation and social security
7,844
Other creditors
444,957
441,776
Accruals and deferred income
1,360
1,360
463,855
498,488
6
Called up share capital
2022
2021
2022
2021
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
VTK Structures Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2022
6
Called up share capital
(Continued)
Page 4
7
Related party transactions
At the Balance Sheet date, £259,772 (2021: £259,759) was due to connected companies.
At the Balance Sheet date,. £22,269 (2021: £14,175) was due from connected companies.