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Company Registration No. 11110324 (England and Wales)
Concept VC Limited Unaudited accounts for the year ended 31 December 2023
Concept VC Limited Unaudited accounts Contents
Page
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Concept VC Limited Company Information for the year ended 31 December 2023
Directors
Reece Chowdhry Jeffrey Chowdhry
Company Number
11110324 (England and Wales)
Registered Office
83 Victoria Street London SW1H 0HW United Kingdom
Accountants
Coppersun Accountants Coppersun Suite 1st Floor, Building 2 Croxley Park Hertfordshire WD18 8YA
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Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Concept VC Limited for the year ended 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Concept VC Limited for the year ended 31 December 2023 as set out on pages 5 - 8 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.
Our work has been undertaken in accordance with AAF 7/16 as detailed at icaew.com/compilation.
Coppersun Accountants Chartered Accountants Coppersun Suite 1st Floor, Building 2 Croxley Park Hertfordshire WD18 8YA 11 January 2024
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Concept VC Limited Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
52,250 
- 
Tangible assets
36,793 
8,556 
Investments
22,982 
22,982 
112,025 
31,538 
Current assets
Debtors
508,479 
149,434 
Cash at bank and in hand
147,326 
709,155 
655,805 
858,589 
Creditors: amounts falling due within one year
(20,375)
(138,910)
Net current assets
635,430 
719,679 
Net assets
747,455 
751,217 
Capital and reserves
Called up share capital
1,244 
1,244 
Share premium
739,794 
739,794 
Profit and loss account
6,417 
10,179 
Shareholders' funds
747,455 
751,217 
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 11 January 2024 and were signed on its behalf by
Reece Chowdhry Director Company Registration No. 11110324
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Concept VC Limited Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
Concept VC Limited is a private company, limited by shares, registered in England and Wales, registration number 11110324. The registered office is 83 Victoria Street, London, SW1H 0HW, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
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Concept VC Limited Notes to the Accounts for the year ended 31 December 2023
4
Intangible fixed assets
Other 
£ 
Cost
At 1 January 2023
- 
Additions
55,000 
At 31 December 2023
55,000 
Amortisation
At 1 January 2023
- 
Charge for the year
2,750 
At 31 December 2023
2,750 
Net book value
At 31 December 2023
52,250 
5
Tangible fixed assets
Plant & machinery 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 January 2023
4,228 
- 
6,703 
10,931 
Additions
14,046 
11,696 
6,992 
32,734 
At 31 December 2023
18,274 
11,696 
13,695 
43,665 
Depreciation
At 1 January 2023
1,046 
- 
1,329 
2,375 
Charge for the year
1,827 
1,300 
1,370 
4,497 
At 31 December 2023
2,873 
1,300 
2,699 
6,872 
Net book value
At 31 December 2023
15,401 
10,396 
10,996 
36,793 
At 31 December 2022
3,182 
- 
5,374 
8,556 
6
Investments
Other investments 
£ 
Valuation at 1 January 2023
22,982 
Valuation at 31 December 2023
22,982 
7
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
2,846 
12,287 
Trade debtors
77,065 
74,267 
Deferred tax asset
22,472 
Accrued income and prepayments
28,459 
- 
Other debtors
400,109 
40,408 
508,479 
149,434 
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Concept VC Limited Notes to the Accounts for the year ended 31 December 2023
8
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Trade creditors
12,508 
- 
Taxes and social security
7,867 
60,639 
Loans from directors
- 
78,271 
20,375 
138,910 
9
Average number of employees
During the year the average number of employees was 5 (2022: 5).
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