VERCO OFFICE FURNITURE LIMITED
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Cash
£2.6M
-34.5% vs 2023
Net assets
£12M
-8.4% vs 2023
Employees
92
-3.2% vs 2023
Profit before tax
-£1.1M
-24,759.4% vs 2023
Net assets
2-year trend · vs Consumer Discretionary median
Accounts
2-year trend · Δ = latest vs prior filed period · latest reflected 2024-12-31
| Metric | Trend | 2023-12-31 | 2024-12-31 | Δ vs prior |
|---|---|---|---|---|
| Turnover | £11,286,975 | £9,186,404 | -18.6% | |
| Operating profit | -£120,234 | -£1,188,884 | -888.8% | |
| Profit before tax | -£4,319 | -£1,073,678 | -24,759.4% | |
| Net profit | -£4,319 | -£1,073,678 | -24,759.4% | |
| Cash | £3,978,061 | £2,604,226 | -34.5% | |
| Total assets less current liabilities | £12,874,878 | £11,780,442 | -8.5% | |
| Net assets | £12,859,431 | £11,777,353 | -8.4% | |
| Equity | £12,859,431 | £11,777,353 | -8.4% | |
| Average employees | 95 | 92 | -3.2% | |
| Wages | £2,839,008 | £2,814,271 | -0.9% | |
| Directors' remuneration | £546,805 | £514,698 | -5.9% |
Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. The Δ column is the change from the prior filed period as a percentage of |prior|; lines a company doesn't report show —. About these numbers
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2023-12-31 | 2024-12-31 |
|---|---|---|---|
| Operating margin | -1.1% | -12.9% | |
| Net margin | -0.0% | -11.7% | |
| Return on capital employed | -0.9% | -10.1% | |
| Gearing (liabilities / total assets) | 8.2% | 7.4% | |
| Current ratio | 6.57x | 6.71x | |
| Interest cover | -84.49x | — |
Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.
Name history
Renamed 1 time since incorporation
- VERCO OFFICE FURNITURE LIMITED 1990-08-02 → present
- WILLIAM VERE LIMITED 1945-07-05 → 1990-08-02
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Standalone (parent only)
- Auditor
- Lancasters (Accountants) Limited
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the entity's ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue.”
Significant events
- “2024 was another challenging year. Ongoing geopolitical issues and "sticky" inflation issues continue to challenge margins and harass market confidence ultimately resulting in lower demand for office furniture. This has had a significant impact on our trading, both in terms of sales revenues and supply chain disruptions and cost increases.”
- “The Company instigated a cost reduction programme towards the end of 2024 seeking to increase margins and reduce overheads. Workforce levels have reduced marginally through natural wastage as employees retire, and whilst we have capped capital investment for the short term, we have continued to invest in new products, and new marketing incentives for the future.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
5 active · 9 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| ROBERTS, Jeff Laurence | Secretary | 2009-07-15 | — | British |
| ROBERTS, Jeff Laurence | Director | 1999-07-01 | Dec 1964 | British |
| ROWE, Jonathan Mark | Director | 2025-07-01 | Mar 1972 | British |
| VERE, Derek William Stevens | Director | — | Nov 1946 | British |
| VERE, Richard William Stevens | Director | 2021-09-01 | Oct 1986 | British |
Show 9 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| VERE, Pauline Anne | Secretary | 1996-08-22 | 2009-07-15 |
| VERE, Roger Francis Stevens | Secretary | — | 1996-08-22 |
| DAVIES, Allan Keith | Director | — | 1999-08-02 |
| GREEN, David Joseph | Director | — | 2000-01-11 |
| MITCHELL, Peter | Director | 2000-01-14 | 2025-10-31 |
| REES, Clive | Director | 1997-07-01 | 1998-01-09 |
| RILEY, Christopher James Francis | Director | 2000-01-04 | 2025-06-30 |
| SAYERS, Geoffrey | Director | 1999-02-17 | 1999-07-13 |
| VERE, Roger Francis Stevens | Director | — | 1996-08-22 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Mr Derek William Stevens Vere | Individual | Shares 75–100% (as firm) | 2016-04-07 | Active |
Filing timeline
Last 20 of 149 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2025-10-31 | TM01 | officers | Termination director company with name termination date | |
| 2025-09-24 | AA | accounts | Accounts with accounts type full | |
| 2025-07-31 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2025-07-01 | AP01 | officers | Appoint person director company with name date | |
| 2025-06-30 | TM01 | officers | Termination director company with name termination date | |
| 2024-09-10 | AA | accounts | Accounts with accounts type full | |
| 2024-08-13 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-10-23 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2023-10-23 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2023-10-13 | AA | accounts | Accounts with accounts type full | |
| 2023-07-31 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2022-10-03 | AA | accounts | Accounts with accounts type full | |
| 2022-08-04 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2021-10-05 | AA | accounts | Accounts with accounts type full | |
| 2021-09-01 | AP01 | officers | Appoint person director company with name date | |
| 2021-08-03 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2021-08-03 | AD01 | address | Change registered office address company with date old address new address | |
| 2020-10-06 | AA | accounts | Accounts with accounts type full | |
| 2020-10-01 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2020-08-05 | CS01 | confirmation-statement | Confirmation statement with no updates |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 4
- Capital events
- 0
- Officers appointed
- 1
- Officers resigned
- 1
last 12 months
last 24 months
last 12 months
last 12 months
Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.