1 April 2022 false No description of principal activity Taxfiler 2023.10 04077169business:PrivateLimitedCompanyLtd2022-04-012023-03-31 040771692022-03-31 040771692022-04-012023-03-31 04077169business:AuditExempt-NoAccountantsReport2022-04-012023-03-31 04077169business:AbridgedAccounts2022-04-012023-03-31 040771692023-03-31 040771692022-03-31 04077169core:WithinOneYear2023-03-31 04077169core:WithinOneYear2022-03-31 04077169core:AfterOneYear2023-03-31 04077169core:AfterOneYear2022-03-31 04077169core:ShareCapitalcore:PreviouslyStatedAmount2023-03-31 04077169core:ShareCapitalcore:PreviouslyStatedAmount2022-03-31 04077169core:SharePremiumcore:PreviouslyStatedAmount2023-03-31 04077169core:SharePremiumcore:PreviouslyStatedAmount2022-03-31 04077169core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-03-31 04077169core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-03-31 04077169core:PreviouslyStatedAmount2023-03-31 04077169core:PreviouslyStatedAmount2022-03-31 04077169business:SmallEntities2022-04-012023-03-31 04077169business:Director12022-04-012023-03-31 04077169countries:EnglandWales2022-04-012023-03-31 04077169business:RegisteredOffice2022-04-012023-03-31 04077169core:LandBuildings2022-04-012023-03-31 04077169core:FurnitureFittings2022-04-012023-03-31 04077169core:ComputerEquipment2022-04-012023-03-31 040771692021-04-012022-03-31 iso4217:GBP xbrli:pure
Company Registration No. 04077169 (England and Wales)
Veromia Limited UNAUDITED ACCOUNTS FOR FILING WITH THE REGISTRAR for the year ended 31 March 2023
Veromia Limited UNAUDITED ACCOUNTS FOR FILING WITH THE REGISTRAR Contents
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Veromia Limited Statement of financial position as at 31 March 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
7,517 
5,781 
Current assets
Inventories
113,371 
79,421 
Debtors
740,491 
731,943 
Cash at bank and in hand
38,442 
114,186 
892,304 
925,550 
Creditors: amounts falling due within one year
(780,384)
(984,924)
Net current assets/(liabilities)
111,920 
(59,374)
Total assets less current liabilities
119,437 
(53,593)
Creditors: amounts falling due after more than one year
(148,428)
(130,594)
Net liabilities
(28,991)
(184,187)
Capital and reserves
Called up share capital
223,000 
223,000 
Share premium
1,557,000 
1,557,000 
Profit and loss account
(1,808,991)
(1,964,187)
Shareholders' funds
(28,991)
(184,187)
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 22 September 2023 and were signed on its behalf by
Sik Chong Director Company Registration No. 04077169
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Veromia Limited Notes to the Accounts for the year ended 31 March 2023
1
Statutory information
Veromia Limited is a private company, limited by shares, registered in England and Wales, registration number 04077169. The registered office is UNIT E11 LOUGHTON SEEDBED CENTRE, LANGSTON ROAD, LOUGHTON, IG10 3TQ, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
10% on cost
Fixtures & fittings
25% on reducing balance
Computer equipment
33.33% on cost
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Foreign exchange
Monetary 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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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Veromia Limited Notes to the Accounts for the year ended 31 March 2023
4
Tangible fixed assets
Total 
£ 
Cost or valuation
At 1 April 2022
70,740 
Additions
3,820 
Disposals
(550)
At 31 March 2023
74,010 
Depreciation
At 1 April 2022
64,959 
Charge for the year
1,820 
On disposals
(286)
At 31 March 2023
66,493 
Net book value
At 31 March 2023
7,517 
At 31 March 2022
5,781 
5
Loans to directors
As at the balance sheet date, the company owed £107,463 (2022:£80,000) to the directors. There are no specific terms of repayment for this loan.
6
Transactions with related parties
During the year the company entered into the following transactions with related parties: KNT Limited £796,557.84 (2022: £273,312) The balance owed to KNT Limited as at 31 March 2023 was £213,275 (2022: £270,035). KNT Limited is a company incorporated in Hong Kong of which S Chong is a director.
7
Average number of employees
During the year the average number of employees was 6 (2022: 6).
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