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REGISTERED NUMBER: SC304290 (Scotland)















Unaudited Financial Statements for the Year Ended 30 June 2023

for

Veda IT Limited

Veda IT Limited (Registered number: SC304290)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Veda IT Limited

Company Information
for the Year Ended 30 June 2023







DIRECTOR: C Donald





REGISTERED OFFICE: 2 Pinefield Glade
Livingston
EH54 9JX





REGISTERED NUMBER: SC304290 (Scotland)





ACCOUNTANTS: My Accountant Friend
50 St. Marys Road
Hemel Hempstead
Hertfordshire
HP2 5HL

Veda IT Limited (Registered number: SC304290)

Balance Sheet
30 June 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,667 -

CURRENT ASSETS
Debtors 5 18,122 18,122
Cash at bank 28,783 30,923
46,905 49,045
CREDITORS
Amounts falling due within one year 6 46,527 56,452
NET CURRENT ASSETS/(LIABILITIES) 378 (7,407 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,045

(7,407

)

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,945 (7,507 )
SHAREHOLDERS' FUNDS 2,045 (7,407 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

Veda IT Limited (Registered number: SC304290)

Balance Sheet - continued
30 June 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 28 November 2023 and were signed by:





C Donald - Director


Veda IT Limited (Registered number: SC304290)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

Veda IT Limited is a private company, limited by shares , registered in Scotland. 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost
Computer equipment - 25% on cost

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.

3. EMPLOYEES AND DIRECTORS

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

Veda IT Limited (Registered number: SC304290)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 July 2022 14,108 670 1,117 15,895
Additions 2,500 - - 2,500
At 30 June 2023 16,608 670 1,117 18,395
DEPRECIATION
At 1 July 2022 14,108 670 1,117 15,895
Charge for year 833 - - 833
At 30 June 2023 14,941 670 1,117 16,728
NET BOOK VALUE
At 30 June 2023 1,667 - - 1,667
At 30 June 2022 - - - -

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Other debtors 18,122 18,122

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Bank loans and overdrafts 5,455 9,714
Tax 27,722 15,501
Social security and other taxes (143 ) 2
VAT 5,186 29,867
Directors' current accounts 6,939 -
Accrued expenses 1,368 1,368
46,527 56,452