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REGISTERED NUMBER: 07643857 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2023

for

VERACIOUS TECHNOLOGIES LTD

VERACIOUS TECHNOLOGIES LTD (REGISTERED NUMBER: 07643857)

Contents of the Financial Statements
FOR THE YEAR ENDED 31 May 2023










Page

Company Information 1

Abridged Income Statement 2

Abridged Statement of Financial Position 3

Statement of Changes in Equity 4

Notes to the Financial Statements 5


VERACIOUS TECHNOLOGIES LTD

Company Information
FOR THE YEAR ENDED 31 May 2023







DIRECTOR: Mr M Hobson





SECRETARY: Miss S Graham





REGISTERED OFFICE: 75 Green Hill
High Wycombe
Buckinghamshire
HP13 5QF





REGISTERED NUMBER: 07643857 (England and Wales)





ACCOUNTANTS: JSA Services Limited
4th Floor
Radius House
51 Clarendon Road
Watford
Hertfordshire
WD17 1HP

VERACIOUS TECHNOLOGIES LTD (REGISTERED NUMBER: 07643857)

Abridged Income Statement
FOR THE YEAR ENDED 31 May 2023

2023 2022
Notes £    £   

GROSS PROFIT 98,738 75,962

Administrative expenses (33,556 ) (30,555 )
OPERATING PROFIT 5 65,182 45,407

Interest receivable and similar income 48 5
PROFIT BEFORE TAXATION 65,230 45,412

Tax on profit 6 (12,657 ) (8,694 )
PROFIT FOR THE FINANCIAL YEAR 52,573 36,718

VERACIOUS TECHNOLOGIES LTD (REGISTERED NUMBER: 07643857)

Abridged Statement of Financial Position
31 May 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 7 - 347

CURRENT ASSETS
Debtors 8,188 -
Cash at bank 36,741 30,636
44,929 30,636
CREDITORS
Amounts falling due within one year (23,283 ) (15,910 )
NET CURRENT ASSETS 21,646 14,726
TOTAL ASSETS LESS CURRENT
LIABILITIES

21,646

15,073

CAPITAL AND RESERVES
Called up share capital 8 10 10
Retained earnings 21,636 15,063
SHAREHOLDERS' FUNDS 21,646 15,073

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 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.

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 Statement of Financial Position for the year ended 31 May 2023 in accordance with Section 444(2A) of the Companies Act 2006.

The financial statements were approved by the director and authorised for issue on 13 February 2024 and were signed by:




Mr M Hobson - Director


VERACIOUS TECHNOLOGIES LTD (REGISTERED NUMBER: 07643857)

Statement of Changes in Equity
FOR THE YEAR ENDED 31 May 2023

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 June 2021 10 13,345 13,355

Changes in equity
Dividends - (35,000 ) (35,000 )
Total comprehensive income - 36,718 36,718
Balance at 31 May 2022 10 15,063 15,073

Changes in equity
Dividends - (46,000 ) (46,000 )
Total comprehensive income - 52,573 52,573
Balance at 31 May 2023 10 21,636 21,646

VERACIOUS TECHNOLOGIES LTD (REGISTERED NUMBER: 07643857)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 May 2023


1. STATUTORY INFORMATION

VERACIOUS TECHNOLOGIES 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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.

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

4. EMPLOYEES AND DIRECTORS

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

5. OPERATING PROFIT

The operating profit is stated after charging:

2023 2022
£    £   
Depreciation - owned assets 347 347

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2023 2022
£    £   
Current tax:
UK corporation tax 12,657 8,694
Tax on profit 12,657 8,694

VERACIOUS TECHNOLOGIES LTD (REGISTERED NUMBER: 07643857)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 May 2023


7. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 June 2022
and 31 May 2023 3,852
DEPRECIATION
At 1 June 2022 3,505
Charge for year 347
At 31 May 2023 3,852
NET BOOK VALUE
At 31 May 2023 -
At 31 May 2022 347

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
10 Ordinary £1 10 10

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

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

2023 2022
£    £   
Mr M Hobson
Balance outstanding at start of year (1,022 ) (428 )
Amounts advanced 20,812 17,280
Amounts repaid (23,426 ) (17,874 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (3,636 ) (1,022 )

10. ULTIMATE CONTROLLING PARTY

The controlling party is Mr M Hobson.