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REGISTERED NUMBER: SC399676 (Scotland)















Unaudited Financial Statements for the Year Ended 31 May 2023

for

ValueAdd Business Solutions Limited

ValueAdd Business Solutions Limited (Registered number: SC399676)






Contents of the Financial Statements
for the Year Ended 31 May 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


ValueAdd Business Solutions Limited

Company Information
for the Year Ended 31 May 2023







DIRECTOR: Mrs M Smith





SECRETARY: Mrs M Smith





REGISTERED OFFICE: 22 Montrose Street
Glasgow
G1 1RE





REGISTERED NUMBER: SC399676 (Scotland)





ACCOUNTANTS: Lamont Blair Chartered Accountants
1A Berwick Drive
Rutherglen
South Lanarkshire
G73 3JP

ValueAdd Business Solutions Limited (Registered number: SC399676)

Abridged Balance Sheet
31 May 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,274 1,741
1,274 1,741

CURRENT ASSETS
Debtors 27,646 22,264
Cash at bank 121,030 92,804
148,676 115,068
CREDITORS
Amounts falling due within one year 60,193 55,722
NET CURRENT ASSETS 88,483 59,346
TOTAL ASSETS LESS CURRENT
LIABILITIES

89,757

61,087

PROVISIONS FOR LIABILITIES 242 331
NET ASSETS 89,515 60,756

CAPITAL AND RESERVES
Called up share capital 6 1 1
Retained earnings 89,514 60,755
SHAREHOLDERS' FUNDS 89,515 60,756

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

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

The director acknowledges her 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.

ValueAdd Business Solutions Limited (Registered number: SC399676)

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 year 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 22 January 2024 and were signed by:





Mrs M Smith - Director


ValueAdd Business Solutions Limited (Registered number: SC399676)

Notes to the Financial Statements
for the Year Ended 31 May 2023

1. STATUTORY INFORMATION

ValueAdd Business Solutions Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

The company has transitioned to FRS 102 from previously extant United Kingdom Generally Accepted Accounting Practice as at 1st June 2016. The reported financial position and financial performance for the previous year are not affected by the transition to FRS 102.

Significant judgements and estimates
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Although these estimates are based on management's best knowledge of the amount, events or actions, actual results ultimately may differ from those estimates.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of five years.

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.

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

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.


ValueAdd Business Solutions Limited (Registered number: SC399676)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents
Cash is represented by cash and deposits with financial institutions repayable without penalty on notice of not more than twenty four hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors
Cash is represented by cash and deposits with financial institutions repayable without penalty on notice of not more than twenty four hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 7 ) .

ValueAdd Business Solutions Limited (Registered number: SC399676)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 June 2022
and 31 May 2023 40,000
AMORTISATION
At 1 June 2022
and 31 May 2023 40,000
NET BOOK VALUE

At 31 May 2023 -
At 31 May 2022 -

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 June 2022 7,095
Additions 1,457
Disposals (1,945 )
At 31 May 2023 6,607
DEPRECIATION
At 1 June 2022 5,354
Charge for year 1,862
Eliminated on disposal (1,883 )
At 31 May 2023 5,333
NET BOOK VALUE
At 31 May 2023 1,274
At 31 May 2022 1,741

6. CALLED UP SHARE CAPITAL

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

7. ULTIMATE CONTROLLING PARTY

The controlling party is Mrs M Smith.