Caseware UK (AP4) 2021.0.152 2021.0.152 2022-03-312022-03-312021-04-01falseInformation technology consultancy55falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11192992 2021-04-01 2022-03-31 11192992 2020-04-01 2021-03-31 11192992 2022-03-31 11192992 2021-03-31 11192992 c:Director1 2021-04-01 2022-03-31 11192992 c:Director2 2021-04-01 2022-03-31 11192992 d:OfficeEquipment 2021-04-01 2022-03-31 11192992 d:OfficeEquipment 2022-03-31 11192992 d:OfficeEquipment 2021-03-31 11192992 d:OfficeEquipment d:OwnedOrFreeholdAssets 2021-04-01 2022-03-31 11192992 d:CurrentFinancialInstruments 2022-03-31 11192992 d:CurrentFinancialInstruments 2021-03-31 11192992 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 11192992 d:CurrentFinancialInstruments d:WithinOneYear 2021-03-31 11192992 d:ShareCapital 2022-03-31 11192992 d:ShareCapital 2021-03-31 11192992 d:RetainedEarningsAccumulatedLosses 2022-03-31 11192992 d:RetainedEarningsAccumulatedLosses 2021-03-31 11192992 d:AcceleratedTaxDepreciationDeferredTax 2022-03-31 11192992 d:AcceleratedTaxDepreciationDeferredTax 2021-03-31 11192992 d:RetirementBenefitObligationsDeferredTax 2022-03-31 11192992 d:RetirementBenefitObligationsDeferredTax 2021-03-31 11192992 c:FRS102 2021-04-01 2022-03-31 11192992 c:AuditExempt-NoAccountantsReport 2021-04-01 2022-03-31 11192992 c:FullAccounts 2021-04-01 2022-03-31 11192992 c:PrivateLimitedCompanyLtd 2021-04-01 2022-03-31 11192992 2 2021-04-01 2022-03-31 iso4217:GBP xbrli:pure

Registered number: 11192992










VIPA DIGITAL LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2022

 
VIPA DIGITAL LIMITED
REGISTERED NUMBER: 11192992

BALANCE SHEET
AS AT 31 MARCH 2022

2022
2021
Note
£
£

Fixed assets
  

Tangible assets
  
3,518
-

  
3,518
-

Current assets
  

Stocks
  
10,000
-

Debtors: amounts falling due within one year
  
186,676
160,225

Cash at bank and in hand
  
401,858
245,479

  
598,534
405,704

Creditors: amounts falling due within one year
  
(179,231)
(107,890)

Net current assets
  
 
 
419,303
 
 
297,814

Total assets less current liabilities
  
422,821
297,814

Provisions for liabilities
  

Deferred tax
  
(528)
-

  
 
 
(528)
 
 
-

Net assets
  
422,293
297,814


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
422,291
297,812

  
422,293
297,814


Page 1

 
VIPA DIGITAL LIMITED
REGISTERED NUMBER: 11192992
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2022

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 27 July 2022.




P S Cranfield
V V Mistry
Director
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
VIPA DIGITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

1.


General information

VIPA Digital Ltd is a private company limited by shares and incorporated in England & Wales. The
address of its registered office is 20-22 Wenlock Road, London, N1 7GU.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
VIPA DIGITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

2.Accounting policies (continued)

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
VIPA DIGITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

2.Accounting policies (continued)


2.7
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
33%
Straight line method

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a SELECT OR ENTER METHOD basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.9

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
VIPA DIGITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

2.Accounting policies (continued)

 
2.12

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.

 
2.13

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.14

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 5 (2021 - 5).

Page 6

 
VIPA DIGITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

4.


Tangible fixed assets





Office equipment

£



Cost or valuation


Additions
4,102



At 31 March 2022

4,102



Depreciation


Charge for the year on owned assets
584



At 31 March 2022

584



Net book value



At 31 March 2022
3,518



At 31 March 2021
-


5.


Debtors

2022
2021
£
£


Trade debtors
183,229
160,225

Other debtors
3,447
-

186,676
160,225



6.


Cash and cash equivalents

2022
2021
£
£

Cash at bank and in hand
401,858
245,479

401,858
245,479


Page 7

 
VIPA DIGITAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

7.


Creditors: Amounts falling due within one year

2022
2021
£
£

Corporation tax
76,876
58,925

Other taxation and social security
11,153
46,242

Other creditors
73,685
2,723

Accruals and deferred income
17,517
-

179,231
107,890



8.


Deferred taxation




2022


£






Charged to profit or loss
(528)



At end of year
(528)

The deferred taxation balance is made up as follows:

2022
2021
£
£


Accelerated capital allowances
(880)
-

Pension surplus
352
-

(528)
-


9.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £175,447 (2021 - £60,603) . Contributions totalling £2,397 (2021 - £2,099) were payable to the fund at the balance sheet date and are included in creditors.

 
Page 8