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REGISTERED NUMBER: 08508187 (England and Wales)




















Unaudited Financial Statements

for the Year Ended 31 August 2023

for

Verto HR Ltd

Verto HR Ltd (Registered number: 08508187)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Verto HR Ltd

Company Information
for the Year Ended 31 August 2023







DIRECTORS: D E Rossi
M Allen





SECRETARY: Ms N Chaudhery





REGISTERED OFFICE: Hermes House
Fire Fly Avenue
Swindon
Wiltshire
SN2 2GA





REGISTERED NUMBER: 08508187 (England and Wales)

Verto HR Ltd (Registered number: 08508187)

Balance Sheet
31 August 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 37,416 25,371

CURRENT ASSETS
Debtors 5 660,668 391,732
Cash at bank 63,910 79,203
724,578 470,935
CREDITORS
Amounts falling due within one year 6 710,429 554,641
NET CURRENT ASSETS/(LIABILITIES) 14,149 (83,706 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

51,565

(58,335

)

CREDITORS
Amounts falling due after more than one year 7 (17,500 ) (27,500 )

PROVISIONS FOR LIABILITIES (9,354 ) (4,820 )
NET ASSETS/(LIABILITIES) 24,711 (90,655 )

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings 24,701 (90,665 )
24,711 (90,655 )

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

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

The directors acknowledge their 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.

Verto HR Ltd (Registered number: 08508187)

Balance Sheet - continued
31 August 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 February 2024 and were signed on its behalf by:





D E Rossi - Director


Verto HR Ltd (Registered number: 08508187)

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

1. STATUTORY INFORMATION

Verto HR 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
Revenue is measured at the fair value of the consideration received or receivable and represents the amount receivable for goods supplied or services rendered, net of returns, discounts and rebates allowed by the company and value added taxes.

Where the consideration receivable in cash or cash equivalents is deferred, and the arrangement constitutes a financing transactions, the fair value of the consideration is measured as the present value of all future receipts using the inputed rate of interest.

The Company recognises revenue when the following conditions are satisfied:
i. the Company has transferred to the buyer the significant risks and rewards of ownership of the goods;
ii. the Company retains neither continuing managerial involvement to the degree associated with ownership nor effective control over the goods sold;
iii. the amount of revenue can be measured reliably;
iv. it is probable that the economic benefits associated with the transaction can be measured reliably.

Sale of services
Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the balance sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the balance sheet date. Where payments are received from customer in advance of services provided the amounts are recorded as deferred income and included as part of creditors due within one year.

Interest receivable
Interest income is recognised using the effective interest method.

Tangible fixed assets
Tangible assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes the original purchase price, costs directly attributable to bringing the asset to its working condition for its intended use, dismantling and restoration costs and borrowing costs capitalised.

Depreciation and residual values
Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset over its expected useful life as follows:

Improvements to property - 2% Straight line
Plant and machinery and tools - 20% Straight line
Fixtures and fittings - 20% Straight line
Computer equipment - 33% Straight line

The assets' residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period. The effect of any changes is accounted for prospectively.

Repairs and maintenance costs are expensed as incurred.


Verto HR Ltd (Registered number: 08508187)

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

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 212 (2022 - 188 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 September 2022 19,326 6,792 698 14,768 41,584
Additions 16,414 - - 719 17,133
At 31 August 2023 35,740 6,792 698 15,487 58,717
DEPRECIATION
At 1 September 2022 554 3,893 225 11,541 16,213
Charge for year 714 1,359 140 2,875 5,088
At 31 August 2023 1,268 5,252 365 14,416 21,301
NET BOOK VALUE
At 31 August 2023 34,472 1,540 333 1,071 37,416
At 31 August 2022 18,772 2,899 473 3,227 25,371

Verto HR Ltd (Registered number: 08508187)

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

5. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 381,148 323,049
Other debtors 24,783 9,383
Directors' current accounts 181,767 14,980
Prepayments 50,678 22,028
638,376 369,440

Amounts falling due after more than one year:
Tax 22,292 22,292

Aggregate amounts 660,668 391,732

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 3,897 9,593
Amounts owed to group undertakings 361,901 50,531
Tax 59,873 63,587
Social security and other taxes 192,086 344,936
VAT 46,547 44,916
Other creditors 31,057 26,593
Accrued expenses 5,068 4,485
710,429 554,641

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 7,500 17,500
17,500 27,500

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 August 2023 and 31 August 2022:

2023 2022
£    £   
D E Rossi
Balance outstanding at start of year 14,980 22,938
Amounts advanced 171,944 22,958
Amounts repaid (5,157 ) (30,916 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 181,767 14,980