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REGISTERED NUMBER: 07265897 (England and Wales)


















Unaudited Financial Statements

for the Year Ended 31 May 2023

for

V & A Associates Limited

V & A Associates Limited (Registered number: 07265897)






Contents of the Financial Statements
for the year ended 31 May 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


V & A Associates Limited

Company Information
for the year ended 31 May 2023







DIRECTOR: Ms M V Griffin





REGISTERED OFFICE: 79 Felsham Road
Putney
London
SW15 1BA





REGISTERED NUMBER: 07265897 (England and Wales)





ACCOUNTANTS: Mapperson Price, Chartered Accountants
Old Gun Court
North Street
Dorking
Surrey
RH4 1DE

V & A Associates Limited (Registered number: 07265897)

Balance Sheet
31 May 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,639 2,650
1,639 2,650

CURRENT ASSETS
Debtors 6 127,950 79,983
Cash at bank 7,940 17,043
135,890 97,026
CREDITORS
Amounts falling due within one year 7 117,197 98,871
NET CURRENT ASSETS/(LIABILITIES) 18,693 (1,845 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

20,332

805

PROVISIONS FOR LIABILITIES 311 504
NET ASSETS 20,021 301

CAPITAL AND RESERVES
Called up share capital 8 200 200
Retained earnings 19,821 101
SHAREHOLDERS' FUNDS 20,021 301

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.

V & A Associates Limited (Registered number: 07265897)

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.

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 director and authorised for issue on 22 February 2024 and were signed by:





Ms M V Griffin - Director


V & A Associates Limited (Registered number: 07265897)

Notes to the Financial Statements
for the year ended 31 May 2023

1. STATUTORY INFORMATION

V & A Associates Limited 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of ten 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.
Plant and machinery etc - 25% on cost and straight line over 3 years

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 2 (2022 - 2 ) .

V & A Associates Limited (Registered number: 07265897)

Notes to the Financial Statements - continued
for the year ended 31 May 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2022
and 31 May 2023 20,000
AMORTISATION
At 1 June 2022
and 31 May 2023 20,000
NET BOOK VALUE
At 31 May 2023 -
At 31 May 2022 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2022 22,122
Additions 611
At 31 May 2023 22,733
DEPRECIATION
At 1 June 2022 19,472
Charge for year 1,622
At 31 May 2023 21,094
NET BOOK VALUE
At 31 May 2023 1,639
At 31 May 2022 2,650

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade debtors 9,680 7,106
Other debtors 31,038 19,583
Directors' current accounts 87,232 53,294
127,950 79,983

V & A Associates Limited (Registered number: 07265897)

Notes to the Financial Statements - continued
for the year ended 31 May 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Tax 97,790 74,554
Social security and other taxes 2,249 4,418
VAT 8,645 8,228
Other creditors 6,013 5,521
Accrued expenses 2,500 6,150
117,197 98,871

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.23 31.5.22
value: £    £   
100 Ordinary £1 100 100
100 Ordinary A £1 100 100
200 200

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:

31.5.23 31.5.22
£    £   
Ms M V Griffin
Balance outstanding at start of year 53,294 15,000
Amounts advanced 33,938 38,294
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 87,232 53,294

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Ms M V Griffin.