Vibrotech Reliability Services Limited - Accounts to registrar (filleted) - small 18.2

VIBROTECH RELIABILITY SERVICES LIMITED - Company Information

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REGISTERED NUMBER: 03483422 (England and Wales)

Vibrotech Reliability Services Limited

Unaudited Financial Statements

for the Year Ended 31 October 2020

Page

Company Information

Balance Sheet

Notes to the Financial Statements

DIRECTORS:

S Dennison

S Kay

A Kinsey

REGISTERED OFFICE:

3rd Floor

5 New York Street

Manchester

M1 4JB

REGISTERED NUMBER:

03483422 (England and Wales)

ACCOUNTANTS:

Slaters & Co Accountants

Lymore Villa

162a London Road

Chesterton

Newcastle

Staffordshire

ST5 7JB

FIXED ASSETS

Tangible assets

102,328

121,022

CURRENT ASSETS

Stocks

2,100

Debtors

116,833

132,344

Cash at bank

60,335

2,996

179,268

135,340

CREDITORS

Amounts falling due within one year

83,295

89,198

NET CURRENT ASSETS

95,973

46,142

TOTAL ASSETS LESS CURRENT

LIABILITIES

198,301

167,164

PROVISIONS FOR LIABILITIES

18,813

22,226

NET ASSETS

179,488

144,938

CAPITAL AND RESERVES

Called up share capital

6,000

Revaluation reserve

70,490

121,929

Capital redemption reserve

Retained earnings

102,997

17,008

SHAREHOLDERS' FUNDS

179,488

144,938

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2020 in accordance with Section 476 of the Companies Act 2006.

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 have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 April 2021 and were signed on its behalf by:

S Dennison

Director

Vibrotech Reliability Services Limited

British Engineering Services

Unit 718 Eddington Way

Birchwood Park

Warrington

United Kingdom

WA3 6BA

1.	STATUTORY INFORMATION

Vibrotech Reliability Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future, being the 12 month period from the date of these accounts being approved, given the impact of coronavirus on the economy and therefore the financial statements have been prepared on a going concern basis.

Turnover

Turnover represents net invoice value of goods / services provided, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

15% on reducing balance

Fixtures and fittings

15% on reducing balance

Motor vehicles

25% on reducing balance

Office equipment

33% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2019 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Office

machinery

fittings

vehicles

equipment

Totals

COST OR VALUATION

At 1 November 2019

and 31 October 2020

183,825

6,780

21,341

17,186

229,132

DEPRECIATION

At 1 November 2019

67,420

6,513

18,316

15,859

108,108

Charge for year

17,461

757

438

18,696

At 31 October 2020

84,881

6,553

19,073

16,297

126,804

NET BOOK VALUE

At 31 October 2020

98,944

227

2,268

889

102,328

At 31 October 2019

116,405

267

3,025

1,327

121,024

Cost or valuation at 31 October 2020 is represented by:

Fixtures

Plant and

and

Motor

Office

machinery

fittings

vehicles

equipment

Totals

Valuation in 2017

39,421

Cost

144,404

6,780

21,341

17,186

189,711

183,825

6,780

21,341

17,186

229,132

If Plant and machinery had not been revalued they would have been included at the following historical cost:

2020

2019

Cost

144,404

Aggregate depreciation

133,780

131,299

Plant and Machinery were valued on an open market value basis on 31 December 2017 by the directors .

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

Trade debtors

108,366

130,144

Other debtors

8,467

2,200

116,833

132,344

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

Bank loans and overdrafts

1,925

Trade creditors

24,332

4,168

Taxation and social security

49,738

64,661

Other creditors

9,225

18,444

83,295

89,198

7.	SECURED DEBTS

The bank overdraft is secured by a floating charge on all property and undertaking of the company.

The invoice finance facility is secured by a fixed and floating charge on all property and undertaking of the company.

RESERVES

Revaluation

reserve

At 1 November 2019

121,930

Revaluation of tangible fixed

assets

(63,506

)

Deferred tax on revaluation of

tangible fixed assets

12,066

At 31 October 2020

70,490

9.	RELATED PARTY DISCLOSURES

Practice Care Maintenance Services Limited, the parent company

A summary of the transactions listed below:

31/10/19

Dividends paid

32,055

165,000

Sales

2,715

2,082

Cost of sales

35,012

18,181

Management fess

44,946

18,278

Administration expenses

4,263

20,107

Amount due to related party at the balance sheet date

19,411

446

Amount due from related party at the balance sheet date

900

VCI Consultancy Limited, a sister company

A summary of the transactions listed below:

31/10/19

Cost of sales

4,895

7,619

Administration expenses

2,298

Amount due to related party at the balance sheet date

1,603

10.	ULTIMATE CONTROLLING PARTY

The Ultimate parent company is Project Apple Topco Limited and funds managed by Inflexion Private Equity Partners LLP are the majority shareholders and ultimate controlling party of Project Apple Topco Limited. The registered address of Inflexion Private Equity Partners LLP is 47 Queen Anne Street, London W1G 9JG, United Kingdom.