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REGISTERED NUMBER: 13847875 (England and Wales)







Financial Statements for the Year Ended 31st July 2023

for

Vantis Technology Ltd

Vantis Technology Ltd (Registered number: 13847875)






Contents of the Financial Statements
for the Year Ended 31st July 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Vantis Technology Ltd

Company Information
for the Year Ended 31st July 2023







DIRECTORS: I V Aglamaz
K A Rimell
A N B Vaughan





REGISTERED OFFICE: Slip House
Princes Drive
Worcester
Worcestershire
WR1 2AB





REGISTERED NUMBER: 13847875 (England and Wales)





ACCOUNTANTS: The Richards Sandy Partnership
Thorneloe House
25 Barbourne Road
Worcester
Worcestershire
WR1 1RU

Vantis Technology Ltd (Registered number: 13847875)

Abridged Balance Sheet
31st July 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 450 750
Tangible assets 5 - 983
450 1,733

CURRENT ASSETS
Debtors 19,192 33,975
Cash at bank 8,139 19,215
27,331 53,190
CREDITORS
Amounts falling due within one year 76,769 94,136
NET CURRENT LIABILITIES (49,438 ) (40,946 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(48,988

)

(39,213

)

PROVISIONS FOR LIABILITIES - 329
NET LIABILITIES (48,988 ) (39,542 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (49,088 ) (39,642 )
(48,988 ) (39,542 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 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.

Vantis Technology Ltd (Registered number: 13847875)

Abridged Balance Sheet - continued
31st July 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 Balance Sheet for the year ended 31st July 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 19th January 2024 and were signed on its behalf by:




I V Aglamaz - Director K A Rimell - Director




A N B Vaughan - Director


Vantis Technology Ltd (Registered number: 13847875)

Notes to the Financial Statements
for the Year Ended 31st July 2023

1. STATUTORY INFORMATION

Vantis Technology 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.

Computer software is being amortised evenly over its estimated useful life of three years.

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

FINANCIAL INSTRUMENTS
Financial instruments are recognised when the company becomes party to contractual provisions of the instrument.

Financial assets are offset, with the net amounts presented in the accounts where there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic Financial Assets
Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Basic Financial Liabilities
Basic financial liabilities, including trade and other payables, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of future receipts, discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of the operations from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction

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.


Vantis Technology Ltd (Registered number: 13847875)

Notes to the Financial Statements - continued
for the Year Ended 31st July 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st August 2022
and 31st July 2023 900
AMORTISATION
At 1st August 2022 150
Amortisation for year 300
At 31st July 2023 450
NET BOOK VALUE

At 31st July 2023 450
At 31st July 2022 750

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st August 2022 1,106
Disposals (1,106 )
At 31st July 2023 -
DEPRECIATION
At 1st August 2022 123
Eliminated on disposal (123 )
At 31st July 2023 -
NET BOOK VALUE
At 31st July 2023 -
At 31st July 2022 983

Vantis Technology Ltd (Registered number: 13847875)

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

6. GOING CONCERN

As at the 31 July 2023, the company has an overdrawn balance sheet totalling £48,988. The directors have agreed to support the company for the foreseeable future.