Company Registration No. 11792137 (England and Wales)
Verified Technologies Limited
Unaudited accounts
for the year ended 31 January 2023
Verified Technologies Limited
Unaudited accounts
Contents
Verified Technologies Limited
Company Information
for the year ended 31 January 2023
Director
Sarah Williams-Dodd
Company Number
11792137 (England and Wales)
Accountants
KLAS ACCOUNTANTS LTD
Eastham Hall
109, Eastham Village Road
Eastham
Wirral
CH62 0AF
Verified Technologies Limited
Statement of financial position
as at 31 January 2023
Tangible assets
5,922
6,544
Cash at bank and in hand
45,123
29,181
Creditors: amounts falling due within one year
(4,499,667)
(2,968,981)
Net current liabilities
(4,451,784)
(2,905,853)
Net liabilities
(4,445,862)
(2,899,309)
Profit and loss account
(4,445,962)
(2,899,409)
Shareholders' funds
(4,445,862)
(2,899,309)
For the year ending 31 January 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 director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
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 and authorised for issue on 6 March 2023 and were signed on its behalf by
Sarah Williams-Dodd
Director
Company Registration No. 11792137
Verified Technologies Limited
Notes to the Accounts
for the year ended 31 January 2023
Verified Technologies Limited is a private company, limited by shares, registered in England and Wales, registration number 11792137.
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
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:
Computer equipment
20% straight line
Investments in shares are included at fair value.
Expenditure on research and development is written off in the year in which it is incurred.
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.
Verified Technologies Limited
Notes to the Accounts
for the year ended 31 January 2023
4
Tangible fixed assets
Computer equipment
Amounts falling due within one year
Accrued income and prepayments
-
27,995
6
Creditors: amounts falling due within one year
2023
2022
Trade creditors
244,597
218,061
Taxes and social security
16,702
1,988
Other creditors
4,260,896
2,779,344
Loans from directors
13,978
-
7
Average number of employees
During the year the average number of employees was 2 (2022: 1).