Vital Finance Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03071067 (England and Wales)

Vital Finance Ltd

Unaudited Financial Statements

for the Year Ended 30 June 2022

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

5

DIRECTORS:

Mr J R Offord

Mrs J M Offord

SECRETARY:

Mr EGD James

REGISTERED OFFICE:

13 The Courtyard

Timothys Bridge Road

Stratford Upon Avon

Warwickshire

CV37 9NP

REGISTERED NUMBER:

03071067 (England and Wales)

ACCOUNTANTS:

Grenfell James Associates Limited

13 The Courtyard

Timothys Bridge Road

Stratford Upon Avon

Warwickshire

CV37 9NP

FIXED ASSETS

Tangible assets

4

1,528

1,950

CURRENT ASSETS

Debtors

5

13,789

22,621

Cash in hand

152

10

13,941

22,631

CREDITORS

Amounts falling due within one year

6

9,542

10,173

NET CURRENT ASSETS

4,399

12,458

TOTAL ASSETS LESS CURRENT LIABILITIES

5,927

14,408

CREDITORS

Amounts falling due after more than one year

7

5,833

7,833

NET ASSETS

94

6,575

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

92

6,573

SHAREHOLDERS' FUNDS

94

6,575

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2022 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 August 2022 and were signed on its behalf by:

Mr J R Offord - Director

1.	STATUTORY INFORMATION

Vital Finance Ltd 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Office equipment, fixtures and fittings

-

20% on reducing balance

Computer equipment

-

25% on reducing balance

Going concern

The director will financially support the company (up to £10,000) for a period of 12 months from the date of these financial statements, therefore the accounts have been prepared on a going concern basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

4.	TANGIBLE FIXED ASSETS

Office

equipment,

fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 July 2021

and 30 June 2022

1,637

15,564

17,201

DEPRECIATION

At 1 July 2021

325

14,926

15,251

Charge for year

263

159

422

At 30 June 2022

588

15,085

15,673

NET BOOK VALUE

At 30 June 2022

1,049

479

1,528

At 30 June 2021

1,312

638

1,950

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Other debtors

13,789

22,621

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Bank loans and overdrafts

2,444

5,398

Taxation and social security

6,336

4,399

Other creditors

762

376

9,542

10,173

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Bank loans

5,833

7,833

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At 30 June 2022 there was a loan balance of £2,321 owing from the Director Mr J R Offord to the Company (£9,891 - 30 June 2021). The loan is repayable within 9 months of the year end and interest has not been charged.