VJ Tech Limited - Accounts to registrar (filleted) - small 18.2

VJ Tech Limited - Accounts to registrar (filleted) - small 18.2

VJ TECH LIMITED - Company Information

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REGISTERED NUMBER: 02617072 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021

FOR

VJ TECH LIMITED
Param & Company Ltd
1st Floor
44 - 50 The Broadway
Southall
Middlesex
UB1 1QB








VJ TECH LIMITED (REGISTERED NUMBER: 02617072)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2021




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


VJ TECH LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2021







DIRECTORS: Mr J Vimalan
Mrs K K Vimalan





SECRETARY: Mr J Vimalan





REGISTERED OFFICE: 3 Darwin Close
Reading
RG2 0TB





REGISTERED NUMBER: 02617072 (England and Wales)





ACCOUNTANTS: Param & Company Ltd
1st Floor
44 - 50 The Broadway
Southall
Middlesex
UB1 1QB
Page 1
VJ TECH LIMITED (REGISTERED NUMBER: 02617072)

ABRIDGED STATEMENT OF FINANCIAL POSITION
30 JUNE 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 160,029 156,503
Investment property 5 300,000 300,000
460,029 456,503

CURRENT ASSETS
Stocks 1,236,088 1,222,853
Debtors 633,919 255,871
Cash at bank and in hand 1,884,157 1,975,218
3,754,164 3,453,942
CREDITORS
Amounts falling due within one year 739,501 760,997
NET CURRENT ASSETS 3,014,663 2,692,945
TOTAL ASSETS LESS CURRENT
LIABILITIES
3,474,692
3,149,448

PROVISIONS FOR LIABILITIES 1,638 895
NET ASSETS 3,473,054 3,148,553

CAPITAL AND RESERVES
Called up share capital 5,000 5,000
Retained earnings 3,468,054 3,143,553
SHAREHOLDERS' FUNDS 3,473,054 3,148,553

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2021 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 notes form part of these financial statements

Page 2 continued...
VJ TECH LIMITED (REGISTERED NUMBER: 02617072)

ABRIDGED STATEMENT OF FINANCIAL POSITION - continued
30 JUNE 2021


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

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 30 June 2021 in accordance with Section 444(2A) of the Companies Act 2006.

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 3 December 2021 and were signed on its behalf by:





Mr J Vimalan - Director


The notes form part of these financial statements

Page 3
VJ TECH LIMITED (REGISTERED NUMBER: 02617072)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2021

1. STATUTORY INFORMATION

VJ Tech 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.

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.
Plant and machinery - 20% on cost
Fixtures and fittings - 15% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


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.

Page 4 continued...
VJ TECH LIMITED (REGISTERED NUMBER: 02617072)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2021

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2020 - 23 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 July 2020 237,836
Additions 8,243
At 30 June 2021 246,079
DEPRECIATION
At 1 July 2020 81,333
Charge for year 4,717
At 30 June 2021 86,050
NET BOOK VALUE
At 30 June 2021 160,029
At 30 June 2020 156,503

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2020
and 30 June 2021 300,000
NET BOOK VALUE
At 30 June 2021 300,000
At 30 June 2020 300,000

Fair value at 30 June 2021 is represented by:
£   
Valuation in 2017 90,000
Cost 210,000
300,000

6. RELATED PARTY DISCLOSURES

During the year, total dividends of £196,000 (2020 - £178,000) were paid to the directors .

Page 5