Registered number
07907472
VARO PARTNERS LIMITED
Unaudited Filleted Accounts
31 March 2023
VARO PARTNERS LIMITED
Registered number: 07907472
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 49,633 66,132
Current assets
Debtors 4 584,332 681,678
Cash at bank and in hand 1,483,575 1,300,874
2,067,907 1,982,552
Creditors: amounts falling due within one year 5 (481,711) (701,214)
Net current assets 1,586,196 1,281,338
Total assets less current liabilities 1,635,829 1,347,470
Creditors: amounts falling due after more than one year 6 (43,752) (52,240)
Provisions for liabilities (9,059) (9,460)
Net assets 1,583,018 1,285,770
Capital and reserves
Called up share capital 400 400
Profit and loss account 1,582,618 1,285,370
Shareholders' funds 1,583,018 1,285,770
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr D Anders Mr A O Oyegbite
Director Director
Approved by the board on 5 September 2023
VARO PARTNERS LIMITED
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of recruitment consulting services. Turnover from the rendering of these services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20% reducing balance
Motor vehicles over 4 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Operating lease commitments
Operating lease commitments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 16 15
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2022 44,368 74,992 119,360
Additions 14,396 - 14,396
At 31 March 2023 58,764 74,992 133,756
Depreciation
At 1 April 2022 28,404 24,824 53,228
Charge for the year 6,072 24,823 30,895
At 31 March 2023 34,476 49,647 84,123
Net book value
At 31 March 2023 24,288 25,345 49,633
At 31 March 2022 15,964 50,168 66,132
4 Debtors 2023 2022
£ £
Trade debtors 482,994 605,140
Other debtors 101,338 76,538
584,332 681,678
5 Creditors: amounts falling due within one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 8,488 7,944
Trade creditors 27,800 10,350
Taxation and social security costs 330,436 484,519
Other creditors 114,987 198,401
481,711 701,214
6 Creditors: amounts falling due after one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 43,752 52,240
7 Other financial commitments 2023 2022
£ £
Total future minimum payments under non-cancellable operating leases 30,030 30,030
8 Other information
VARO PARTNERS LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Tower 42
45 Old Broad Street
London
EC2N 1HN
VARO PARTNERS LIMITED 07907472 false 2022-04-01 2023-03-31 2023-03-31 VT Final Accounts April 2022 Mr D Anders No description of principal activity 07907472 2021-04-01 2022-03-31 07907472 core:WithinOneYear 2022-03-31 07907472 core:AfterOneYear 2022-03-31 07907472 core:ShareCapital 2022-03-31 07907472 core:RetainedEarningsAccumulatedLosses 2022-03-31 07907472 core:AllPeriods 2022-03-31 07907472 2022-04-01 2023-03-31 07907472 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 07907472 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 07907472 bus:Director40 2022-04-01 2023-03-31 07907472 1 2022-04-01 2023-03-31 07907472 2 2022-04-01 2023-03-31 07907472 core:PlantMachinery 2022-04-01 2023-03-31 07907472 core:Vehicles 2022-04-01 2023-03-31 07907472 countries:England 2022-04-01 2023-03-31 07907472 bus:FRS102 2022-04-01 2023-03-31 07907472 bus:FullAccounts 2022-04-01 2023-03-31 07907472 2023-03-31 07907472 core:WithinOneYear 2023-03-31 07907472 core:AfterOneYear 2023-03-31 07907472 core:ShareCapital 2023-03-31 07907472 core:RetainedEarningsAccumulatedLosses 2023-03-31 07907472 core:PlantMachinery 2023-03-31 07907472 core:Vehicles 2023-03-31 07907472 core:AllPeriods 2023-03-31 07907472 2022-03-31 07907472 core:PlantMachinery 2022-03-31 07907472 core:Vehicles 2022-03-31 iso4217:GBP xbrli:pure