Acorah Software Products - Accounts Production 14.5.601 false true 31 July 2022 1 August 2021 false 1 August 2022 31 July 2023 31 July 2023 4846863 Mr Zuber Valli Suleman Miss Ruqayya Suleman Mr Zuber Suleman true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 4846863 2022-07-31 4846863 2023-07-31 4846863 2022-08-01 2023-07-31 4846863 frs-core:FurnitureFittings 2023-07-31 4846863 frs-core:FurnitureFittings 2022-08-01 2023-07-31 4846863 frs-core:FurnitureFittings 2022-07-31 4846863 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-07-31 4846863 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 4846863 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2022-07-31 4846863 frs-core:PlantMachinery 2023-07-31 4846863 frs-core:PlantMachinery 2022-08-01 2023-07-31 4846863 frs-core:PlantMachinery 2022-07-31 4846863 frs-core:ShareCapital 2023-07-31 4846863 frs-core:RetainedEarningsAccumulatedLosses 2023-07-31 4846863 frs-bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 4846863 frs-bus:FilletedAccounts 2022-08-01 2023-07-31 4846863 frs-bus:SmallEntities 2022-08-01 2023-07-31 4846863 frs-bus:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 4846863 frs-bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 4846863 1 2022-08-01 2023-07-31 4846863 frs-bus:Director1 2022-08-01 2023-07-31 4846863 frs-bus:CompanySecretary1 2022-08-01 2023-07-31 4846863 frs-countries:EnglandWales 2022-08-01 2023-07-31 4846863 2021-07-31 4846863 2022-07-31 4846863 2021-08-01 2022-07-31 4846863 frs-core:ShareCapital 2022-07-31 4846863 frs-core:RetainedEarningsAccumulatedLosses 2022-07-31
Registered number: 4846863
VERITAZS LIMITED
Financial Statements
For The Year Ended 31 July 2023
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: 4846863
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 228,858 228,952
228,858 228,952
CURRENT ASSETS
Cash at bank and in hand 585,413 586,840
585,413 586,840
Creditors: Amounts Falling Due Within One Year 5 (9,841 ) (6,015 )
NET CURRENT ASSETS (LIABILITIES) 575,572 580,825
TOTAL ASSETS LESS CURRENT LIABILITIES 804,430 809,777
NET ASSETS 804,430 809,777
CAPITAL AND RESERVES
Called up share capital 6 2 2
Profit and Loss Account 804,428 809,775
SHAREHOLDERS' FUNDS 804,430 809,777
For the year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Zuber Valli Suleman
Director
15/04/2024
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
VERITAZS LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 4846863 . The registered office is 3 Hill Head Gardens, Dewsbury, West Yorkshire, WF13 4JU.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 0
Plant & Machinery @25% Reducing Balance
Fixtures & Fittings @25% Reducing Balance
2.3. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: 1)
1 1
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 August 2022 228,575 4,944 4,000 237,519
As at 31 July 2023 228,575 4,944 4,000 237,519
Depreciation
As at 1 August 2022 - 4,868 3,699 8,567
Provided during the period - 19 75 94
As at 31 July 2023 - 4,887 3,774 8,661
...CONTINUED
Page 2
Page 3
Net Book Value
As at 31 July 2023 228,575 57 226 228,858
As at 1 August 2022 228,575 76 301 228,952
5. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Other creditors 9,841 6,015
6. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 2 2
7. Ultimate Controlling Party
The company's ultimate controlling party is Mr Zuber Suleman by virtue of his ownership of majority of the issued share capital in the company.
Page 3