Viamaster International Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04816258 (England and Wales)

VIAMASTER INTERNATIONAL LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2021

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A B Warrington

D K Warrington

M A Lunat

P D C Pedley

J N Lees

SECRETARY:

M A Lunat

REGISTERED OFFICE:

Europort Distribution Centre

Altofts Lane

Castleford

West Yorkshire

WF10 5PZ

REGISTERED NUMBER:

04816258 (England and Wales)

ACCOUNTANTS:

BPR Heaton

Chartered Accountants

27a Lidget Hill

Pudsey

Leeds

LS28 7LG

FIXED ASSETS

Tangible assets

4

171,541

128,900

CURRENT ASSETS

Debtors

5

2,183,251

1,614,385

Cash at bank

218,957

163,199

2,402,208

1,777,584

CREDITORS

Amounts falling due within one year

6

1,901,626

1,399,812

NET CURRENT ASSETS

500,582

377,772

TOTAL ASSETS LESS CURRENT LIABILITIES

672,123

506,672

CREDITORS

Amounts falling due after more than one year

7

(20,078

)

(60,399

)

PROVISIONS FOR LIABILITIES

(25,842

)

(10,911

)

NET ASSETS

626,203

435,362

CAPITAL AND RESERVES

Called up share capital

50,000

50,000

Retained earnings

576,203

385,362

SHAREHOLDERS' FUNDS

626,203

435,362

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 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 22 April 2022 and were signed on its behalf by:

M A Lunat - Director

1.	STATUTORY INFORMATION

Viamaster International 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

20% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

20% on cost

Government grants

The company received government grants during the year. These grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received using the performance model.

Financial instruments

Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instrument.

Financial assets and liabilities are initially measured at the transaction price, except for those financial assets classified as at fair value through profit or loss.

Basic financial instruments

Basic financial instruments are those with relatively straight forward terms and would normally include cash, bank balances, trade debtors, trade creditors and uncomplicated bank loans.

Where the arrangement does not constitute a financing transaction, e.g trade debtors on normal commercial terms, the debtor will be valued initially at transaction price (i.e. cost) and subsequently at transaction price less impairment (if any) due to concerns over recoverability.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Finance arrangements

The company utilises a factoring arrangement in respect of trade debtors.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2020 - 20 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 October 2020

296,970

Additions

126,730

Disposals

(78,345

)

At 30 September 2021

345,355

DEPRECIATION

At 1 October 2020

168,070

Charge for year

56,234

Eliminated on disposal

(50,490

)

At 30 September 2021

173,814

NET BOOK VALUE

At 30 September 2021

171,541

At 30 September 2020

128,900

Included in fixed assets are assets held under hire purchase agreements with a net book value of £56,685 (2020 £64,928).

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

1,509,561

1,014,187

Other debtors

673,690

600,198

2,183,251

1,614,385

Trade debtors amounting to £1,089,744 (2020: £749,527) have been factored.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Hire purchase contracts

28,122

29,067

Trade creditors

1,221,425

842,498

Taxation and social security

177,756

376,184

Other creditors

474,323

152,063

1,901,626

1,399,812

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Hire purchase contracts

20,078

10,399

Other creditors

-

50,000

20,078

60,399

8.	SECURED DEBTS

The following secured debts are included within creditors:

2021

2020

£

£

Hire purchase contracts

48,200

39,466