Silverfin false false 31/10/2023 01/11/2022 31/10/2023 D R Garrod 02/07/2018 C Marzea 01/12/2016 M S Merson 21/03/2017 S E Samuels 01/12/2016 13 March 2024 The principal activity of the company is that of providing consultancy services. 10505281 2023-10-31 10505281 bus:Director1 2023-10-31 10505281 bus:Director2 2023-10-31 10505281 bus:Director3 2023-10-31 10505281 bus:Director4 2023-10-31 10505281 core:CurrentFinancialInstruments 2023-10-31 10505281 core:CurrentFinancialInstruments 2022-10-31 10505281 2022-10-31 10505281 core:ShareCapital 2023-10-31 10505281 core:ShareCapital 2022-10-31 10505281 core:CapitalRedemptionReserve 2023-10-31 10505281 core:CapitalRedemptionReserve 2022-10-31 10505281 core:RetainedEarningsAccumulatedLosses 2023-10-31 10505281 core:RetainedEarningsAccumulatedLosses 2022-10-31 10505281 bus:OrdinaryShareClass1 2023-10-31 10505281 bus:OrdinaryShareClass2 2023-10-31 10505281 bus:OrdinaryShareClass3 2023-10-31 10505281 bus:OrdinaryShareClass4 2023-10-31 10505281 2022-11-01 2023-10-31 10505281 bus:FilletedAccounts 2022-11-01 2023-10-31 10505281 bus:SmallEntities 2022-11-01 2023-10-31 10505281 bus:AuditExemptWithAccountantsReport 2022-11-01 2023-10-31 10505281 bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 10505281 bus:Director1 2022-11-01 2023-10-31 10505281 bus:Director2 2022-11-01 2023-10-31 10505281 bus:Director3 2022-11-01 2023-10-31 10505281 bus:Director4 2022-11-01 2023-10-31 10505281 2021-11-01 2022-10-31 10505281 bus:OrdinaryShareClass1 2022-11-01 2023-10-31 10505281 bus:OrdinaryShareClass1 2021-11-01 2022-10-31 10505281 bus:OrdinaryShareClass2 2022-11-01 2023-10-31 10505281 bus:OrdinaryShareClass2 2021-11-01 2022-10-31 10505281 bus:OrdinaryShareClass3 2022-11-01 2023-10-31 10505281 bus:OrdinaryShareClass3 2021-11-01 2022-10-31 10505281 bus:OrdinaryShareClass4 2022-11-01 2023-10-31 10505281 bus:OrdinaryShareClass4 2021-11-01 2022-10-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 10505281 (England and Wales)

VERITUM PARTNERS LIMITED

Unaudited Financial Statements
For the financial year ended 31 October 2023
Pages for filing with the registrar

VERITUM PARTNERS LIMITED

Unaudited Financial Statements

For the financial year ended 31 October 2023

Contents

VERITUM PARTNERS LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 October 2023
VERITUM PARTNERS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 October 2023
2023 2022
£ £
Current assets
Debtors 3 216,903 414,124
Cash at bank and in hand 343,022 454,591
559,925 868,715
Creditors: amounts falling due within one year 4 ( 550,044) ( 868,168)
Net current assets 9,881 547
Total assets less current liabilities 9,881 547
Net assets 9,881 547
Capital and reserves
Called-up share capital 5 300 300
Capital redemption reserve 100 100
Profit and loss account 9,481 147
Total shareholders' funds 9,881 547

For the financial year ending 31 October 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Veritum Partners Limited (registered number: 10505281) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

M S Merson
Director

13 March 2024

VERITUM PARTNERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2023
VERITUM PARTNERS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Veritum Partners Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 35 Ballards Lane, London, N3 1XW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised in The Statement of Comprehensive Income using the effective interest method.

Taxation

Current tax
Tax is recognised in The Statement of Comprehensive Income except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans to and from related parties.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, 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.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Comprehensive Income.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 4 4

3. Debtors

2023 2022
£ £
Trade debtors 40,000 312,970
Prepayments and accrued income 176,903 101,154
216,903 414,124

4. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 0 1,186
Amounts owed to associates 209,395 566,749
Taxation and social security 332,791 281,402
Other creditors 7,858 18,831
550,044 868,168

5. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
75 A Ordinary shares of £ 1.00 each 75 75
75 B Ordinary shares of £ 1.00 each 75 75
75 C Ordinary shares of £ 1.00 each 75 75
75 D Ordinary shares of £ 1.00 each 75 75
300 300