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REGISTERED NUMBER: 13407961 (England and Wales)















Unaudited Financial Statements

for the Period 1 June 2023 to 5 November 2023

for

VCSP Research Ltd.

VCSP Research Ltd. (Registered number: 13407961)






Contents of the Financial Statements
for the Period 1 June 2023 to 5 November 2023




Page

Chartered Accountants' Report 1

Balance Sheet 2

Notes to the Financial Statements 3


Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
VCSP Research Ltd.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of VCSP Research Ltd. for the period ended 5 November 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of VCSP Research Ltd., as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of VCSP Research Ltd. and state those matters that we have agreed to state to the Board of Directors of VCSP Research Ltd., as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than VCSP Research Ltd. and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that VCSP Research Ltd. has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of VCSP Research Ltd.. You consider that VCSP Research Ltd. is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of VCSP Research Ltd.. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Haggards Crowther LLP
Chartered Accountants
2nd Floor, Heathmans House
19 Heathmans Road
London
SW6 4TJ


6 November 2023

VCSP Research Ltd. (Registered number: 13407961)

Balance Sheet
5 November 2023

5.11.23 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 388,675

CURRENT ASSETS
Investments 5 5,395,652 4,965,866
Cash at bank 17,215 23,087
5,412,867 4,988,953
CREDITORS
Amounts falling due within one year 6 196,816 202,747
NET CURRENT ASSETS 5,216,051 4,786,206
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,216,051

5,174,881

CAPITAL AND RESERVES
Called up share capital 189 189
Retained earnings 7 5,215,862 5,174,692
5,216,051 5,174,881

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 5 November 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 5 November 2023 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 6 November 2023 and were signed on its behalf by:





Mr A Calderhead - Director


VCSP Research Ltd. (Registered number: 13407961)

Notes to the Financial Statements
for the Period 1 June 2023 to 5 November 2023

1. STATUTORY INFORMATION

VCSP Research Ltd is a private company, limited by shares, registered in England and Wales. The company's registered number is 13407961 and its registered address is 2nd Floor, Heathmans House, 19 Heathmans Road, England, SW6 4TJ.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared in accordance with the micro-entity provisions of the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable to the Micro-entities Regime.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. In the opinion of the directors there are no judgements or key sources of estimation uncertainty that affect the preparation of the financial statements.

Turnover
Revenue is recognised when it is probable that the economic benefits associated with the investments will flow to the company, and the amount of revenue can be reliably measured. The interest income is recognised as it is earned using the effective interest rate method. Dividend income is recognised when the right to receive payment is established, typically on the ex-dividend date. Profits arising on disposal of investments during daily trading activities are recognised as trading income.

Taxation
Taxation for the period 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 period 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 (2023 - 2 ) .

VCSP Research Ltd. (Registered number: 13407961)

Notes to the Financial Statements - continued
for the Period 1 June 2023 to 5 November 2023

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 June 2023 388,675
Disposals (388,675 )
At 5 November 2023 -
NET BOOK VALUE
At 5 November 2023 -
At 31 May 2023 388,675

Cypto assets have an indefinite useful life and are therefore not amortised but tested annually for impairment.

5. CURRENT ASSET INVESTMENTS
5.11.23 31.5.23
£    £   
Unlisted investments 5,395,652 4,965,866

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
5.11.23 31.5.23
£    £   
Taxation and social security 107,380 94,745
Other creditors 89,436 108,002
196,816 202,747

7. RESERVES
Retained
earnings
£   

At 1 June 2023 5,174,692
Profit for the period 41,170
At 5 November 2023 5,215,862

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included in Creditors is a balance owed by the company to the directors, A Calderhead of £30,707 (2022: £54,826) and J Birrell of £54,528 (2022: £49,677). The outstanding balances are unsecured, not subject to interest and repayable on demand.