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REGISTERED NUMBER: 10019155 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

VERISMART INVENTORIES SA LTD

VERISMART INVENTORIES SA LTD (REGISTERED NUMBER: 10019155)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


VERISMART INVENTORIES SA LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTOR: R Ryan





SECRETARY:





REGISTERED OFFICE: 150, Cae Morfa
Skewen
Neath
SA10 6EH





REGISTERED NUMBER: 10019155 (England and Wales)





ACCOUNTANTS: Roger Byers & Co. Limited
Castle Buildings
23 Church Place
Neath
SA11 3LP

VERISMART INVENTORIES SA LTD (REGISTERED NUMBER: 10019155)

BALANCE SHEET
28 FEBRUARY 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 25,998 26,220
25,998 26,220

CURRENT ASSETS
Debtors 6 58,934 41,093
Cash at bank 1,770 1,614
60,704 42,707
CREDITORS
Amounts falling due within one year 7 (31,941 ) (30,417 )
NET CURRENT ASSETS 28,763 12,290
TOTAL ASSETS LESS CURRENT
LIABILITIES

54,761

38,510

CREDITORS
Amounts falling due after more than one year 8 (6,635 ) (8,574 )
NET ASSETS 48,126 29,936

CAPITAL AND RESERVES
Called up share capital 9 1,000 1,000
Retained earnings 47,126 28,936
SHAREHOLDERS' FUNDS 48,126 29,936

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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.

VERISMART INVENTORIES SA LTD (REGISTERED NUMBER: 10019155)

BALANCE SHEET - continued
28 FEBRUARY 2023


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 director and authorised for issue on 29 November 2023 and were signed by:





R Ryan - Director


VERISMART INVENTORIES SA LTD (REGISTERED NUMBER: 10019155)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023


1. STATUTORY INFORMATION

Verismart Inventories SA Ltd 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.
Plant and machinery etc - 10% on reducing balance

Taxation
Taxation for the year 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 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

VERISMART INVENTORIES SA LTD (REGISTERED NUMBER: 10019155)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 March 2022
and 28 February 2023 18,000
AMORTISATION
At 1 March 2022
and 28 February 2023 18,000
NET BOOK VALUE
At 28 February 2023 -
At 28 February 2022 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2022
and 28 February 2023 33,300
DEPRECIATION
At 1 March 2022 7,080
Charge for year 222
At 28 February 2023 7,302
NET BOOK VALUE
At 28 February 2023 25,998
At 28 February 2022 26,220

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 58,934 41,093

VERISMART INVENTORIES SA LTD (REGISTERED NUMBER: 10019155)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts - 23,202
Trade creditors - 1
Taxation and social security 8,533 6,610
Other creditors 23,408 604
31,941 30,417

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 6,635 8,574

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,000 Ordinary 1 1,000 1,000