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REGISTERED NUMBER: 04596823 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2022

FOR

THE VALIDATION CENTRE (TVC) LIMITED

THE VALIDATION CENTRE (TVC) LIMITED (REGISTERED NUMBER: 04596823)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


THE VALIDATION CENTRE (TVC) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2022







DIRECTORS: Mr C J Cathles
Mr P H Houston
Mrs K M Murphy





SECRETARY: Mrs K M Murphy





REGISTERED OFFICE: Ingram House
Meridian Way
Norwich
Norfolk
NR7 0TA





REGISTERED NUMBER: 04596823 (England and Wales)





ACCOUNTANTS: LEES
Chartered Certified Accountants
Ingram House
Meridian Way
Norwich
Norfolk
NR7 0TA

THE VALIDATION CENTRE (TVC) LIMITED (REGISTERED NUMBER: 04596823)

BALANCE SHEET
30 NOVEMBER 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 2,341 4,337
Tangible assets 5 147,081 201,951
149,422 206,288

CURRENT ASSETS
Stocks 343,364 236,136
Debtors 6 553,199 333,415
Cash at bank and in hand 122,308 60,061
1,018,871 629,612
CREDITORS
Amounts falling due within one year 7 523,311 358,812
NET CURRENT ASSETS 495,560 270,800
TOTAL ASSETS LESS CURRENT
LIABILITIES

644,982

477,088

CREDITORS
Amounts falling due after more than one year 8 5,240 10,480
NET ASSETS 639,742 466,608

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 639,642 466,508
SHAREHOLDERS' FUNDS 639,742 466,608

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2022 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 October 2023 and were signed on its behalf by:





Mr C J Cathles - Director


THE VALIDATION CENTRE (TVC) LIMITED (REGISTERED NUMBER: 04596823)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2022

1. STATUTORY INFORMATION

The Validation Centre (TVC) 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.

Turnover
Turnover represents the fair value of goods and services provided during the year. Turnover is recognised as contract activity progresses and the right to consideration is earned. Fair value reflects the amount expected to be recoverable from clients. Turnover excludes value added tax.

Unbilled turnover on individual contracts is included as accrued income within other debtors.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of five years.

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 etc - 25% on reducing balance

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 Statement of Income and Retained Earnings, 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.

THE VALIDATION CENTRE (TVC) LIMITED (REGISTERED NUMBER: 04596823)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2022

2. ACCOUNTING POLICIES - continued

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Goodwill
Goodwilll, being the amount paid in connection with the acquisition of a business, was fully written down in the year ended 30 November 2008.

Government grants
Government grants of a revenue nature are credited to the profit and loss account in the same period as the related expenditure.

Capital grants
Capital grants have been credited to the balance sheet, and are being released to the profit and loss account over the useful life of the asset.

3. EMPLOYEES

The average number of employees during the year was 17 (2021 - 16 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 December 2021
and 30 November 2022 2,000 33,718 35,718
AMORTISATION
At 1 December 2021 2,000 29,381 31,381
Charge for year - 1,996 1,996
At 30 November 2022 2,000 31,377 33,377
NET BOOK VALUE
At 30 November 2022 - 2,341 2,341
At 30 November 2021 - 4,337 4,337

THE VALIDATION CENTRE (TVC) LIMITED (REGISTERED NUMBER: 04596823)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2022

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 December 2021 728,883
Additions 15,184
Disposals (45,000 )
At 30 November 2022 699,067
DEPRECIATION
At 1 December 2021 526,932
Charge for year 53,443
Eliminated on disposal (28,389 )
At 30 November 2022 551,986
NET BOOK VALUE
At 30 November 2022 147,081
At 30 November 2021 201,951

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 December 2021 6,000
Transfer to ownership (6,000 )
At 30 November 2022 -
DEPRECIATION
At 1 December 2021 3,398
Charge for year 651
Transfer to ownership (4,049 )
At 30 November 2022 -
NET BOOK VALUE
At 30 November 2022 -
At 30 November 2021 2,602

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 383,840 250,305
Other debtors 169,359 83,110
553,199 333,415

THE VALIDATION CENTRE (TVC) LIMITED (REGISTERED NUMBER: 04596823)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2022

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 17 36
Hire purchase contracts - 111
Trade creditors 401,059 147,487
Taxation and social security 18,483 32,011
Other creditors 103,752 179,167
523,311 358,812

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2022 2021
£    £   
Other creditors 5,240 10,480

9. SECURED DEBTS

The following secured debts are included within creditors:

2022 2021
£    £   
Hire purchase contracts - 111

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
40 Ordinary A £1 40 40
10 Ordinary B £1 10 10
40 Ordinary C £1 40 40
10 Ordinary D £1 10 10
100 100

11. OTHER FINANCIAL COMMITMENTS

The total amount of commitments, guarantees and contingencies is £32,513 (2021 - £54,188).

12. RELATED PARTY DISCLOSURES

During the year dividends amounting to £33,006 (2021 - £27,836) and £28,014 (2021 - £25,680) were paid to Mr K Hastings and Mr C Cathles respectively.

During the year dividends amounting to £2,640 (2021 - £4,840) and £3,600 (2021 - £3,300) were paid to Mrs J Hastings and Mrs J Cathles, shareholders and wives of Mr K Hastings and Mr C Cathles.