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
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
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
Concept VC Limited
Statement of financial position
as at 31 December 2023
Intangible assets
52,250
-
Tangible assets
36,793
8,556
Cash at bank and in hand
147,326
709,155
Creditors: amounts falling due within one year
(20,375)
(138,910)
Net current assets
635,430
719,679
Net assets
747,455
751,217
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
Concept VC Limited
Notes to the Accounts
for the year ended 31 December 2023
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
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 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.
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 (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Concept VC Limited
Notes to the Accounts
for the year ended 31 December 2023
4
Intangible fixed assets
Other
At 31 December 2023
55,000
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
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
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
Amounts falling due within one year
Trade debtors
77,065
74,267
Deferred tax asset
-
22,472
Accrued income and prepayments
28,459
-
Other debtors
400,109
40,408
Concept VC Limited
Notes to the Accounts
for the year ended 31 December 2023
8
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
7,867
60,639
Loans from directors
-
78,271
9
Average number of employees
During the year the average number of employees was 5 (2022: 5).