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COMPANY REGISTRATION NUMBER: 13686137
Validus Technologies Limited
Filleted Unaudited Abridged Financial Statements
31 October 2023
Validus Technologies Limited
Abridged Statement of Financial Position
31 October 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
1,966
Current assets
Debtors
100
100
Creditors: amounts falling due within one year
8,946
-------
----
Net current (liabilities)/assets
( 8,846)
100
-------
----
Total assets less current liabilities
( 6,880)
100
-------
----
Net (liabilities)/assets
( 6,880)
100
-------
----
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 6,980)
-------
----
Shareholders (deficit)/funds
( 6,880)
100
-------
----
These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of comprehensive income has not been delivered.
For the 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 members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .
All of the members have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the year ending 31 October 2023 in accordance with Section 444(2A) of the Companies Act 2006.
Validus Technologies Limited
Abridged Statement of Financial Position (continued)
31 October 2023
These abridged financial statements were approved by the board of directors and authorised for issue on 16 July 2024 , and are signed on behalf of the board by:
C Sutton
Director
Company registration number: 13686137
Validus Technologies Limited
Notes to the Abridged Financial Statements
Year ended 31 October 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Faber House, Eastern Road, Romford, RM1 3PJ.
2. Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
IT equipment
-
25% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2022: 3 ).
5. Tangible assets
£
Cost
At 1 November 2022
Additions
2,621
-------
At 31 October 2023
2,621
-------
Depreciation
At 1 November 2022
Charge for the year
655
-------
At 31 October 2023
655
-------
Carrying amount
At 31 October 2023
1,966
-------
At 31 October 2022
-------
6. Related party transactions
The company has common directors with a related party. At the year-end the company owed this related party £8,346 (2022: £nil).