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REGISTERED NUMBER: SC529708 (Scotland)















UNAUDITED CESSATION FINANCIAL STATEMENTS

FOR THE PERIOD

1 OCTOBER 2022 TO 31 MAY 2023

FOR

VELOCITY IT SOLUTIONS LTD

VELOCITY IT SOLUTIONS LTD (REGISTERED NUMBER: SC529708)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 OCTOBER 2022 TO 31 MAY 2023










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


VELOCITY IT SOLUTIONS LTD

COMPANY INFORMATION
FOR THE PERIOD 1 OCTOBER 2022 TO 31 MAY 2023







DIRECTOR: Mr M A Clark





REGISTERED OFFICE: 1 Laing Gardens
Broxburn
West Lothian
EH52 6XU





REGISTERED NUMBER: SC529708 (Scotland)





ACCOUNTANTS: JSA Services Limited
4th Floor
Radius House
51 Clarendon Road
Watford
Hertfordshire
WD17 1HP

VELOCITY IT SOLUTIONS LTD (REGISTERED NUMBER: SC529708)

ABRIDGED BALANCE SHEET
31 MAY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 - 253

CURRENT ASSETS
Debtors 2,969 2,551
Cash at bank 11 25
2,980 2,576
CREDITORS
Amounts falling due within one year 1,590 125
NET CURRENT ASSETS 1,390 2,451
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,390

2,704

CAPITAL AND RESERVES
Called up share capital 6 100 100
Retained earnings 1,290 2,604
SHAREHOLDERS' FUNDS 1,390 2,704

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

VELOCITY IT SOLUTIONS LTD (REGISTERED NUMBER: SC529708)

ABRIDGED BALANCE SHEET - continued
31 MAY 2023


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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the period ended 31 May 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 12 October 2023 and were signed by:





Mr M A Clark - Director


VELOCITY IT SOLUTIONS LTD (REGISTERED NUMBER: SC529708)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 OCTOBER 2022 TO 31 MAY 2023


1. STATUTORY INFORMATION

Velocity It Solutions Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the realisation basis.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost
Computer equipment - 33% on cost

4. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 (2022 - 1 ) .

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 October 2022 3,250
Disposals (3,250 )
At 31 May 2023 -
DEPRECIATION
At 1 October 2022 2,997
Eliminated on disposal (2,997 )
At 31 May 2023 -
NET BOOK VALUE
At 31 May 2023 -
At 30 September 2022 253

VELOCITY IT SOLUTIONS LTD (REGISTERED NUMBER: SC529708)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 OCTOBER 2022 TO 31 MAY 2023


6. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

7. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the period ended 31 May 2023 and the year ended 30 September 2022:

2023 2022
£    £   
Mr M A Clark
Balance outstanding at start of period (125 ) -
Amounts advanced 5,260 3,500
Amounts repaid (6,365 ) (3,625 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period (1,230 ) (125 )