1 November 2022 v2024.35.1 limited_company_frs_102_section_1a_v1_1_1 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBPSC4090912022-11-012023-10-31SC4090912023-10-31SC4090912022-10-31SC409091core:WithinOneYear2023-10-31SC409091core:WithinOneYear2022-10-31SC409091core:AfterOneYear2023-10-31SC409091core:AfterOneYear2022-10-31SC409091core:ShareCapital2023-10-31SC409091core:ShareCapital2022-10-31SC409091core:RetainedEarningsAccumulatedLosses2023-10-31SC409091core:RetainedEarningsAccumulatedLosses2022-10-31SC409091bus:Director12022-11-012023-10-31SC409091bus:RegisteredOffice2022-11-012023-10-31SC409091core:PlantMachinery2022-11-012023-10-31SC409091core:FurnitureFittings2022-11-012023-10-31SC409091core:MotorVehicles2022-11-012023-10-31SC4090912021-11-012022-10-31SC409091core:PlantMachinery2023-10-31SC409091core:PlantMachinery2022-11-01SC409091core:PlantMachinery2022-10-31SC40909112022-11-012023-10-31SC409091countries:Scotland2022-11-012023-10-31SC409091bus:AuditExempt-NoAccountantsReport2022-11-012023-10-31SC409091bus:PrivateLimitedCompanyLtd2022-11-012023-10-31SC409091bus:SmallEntities2022-11-012023-10-31SC409091bus:FullAccounts2022-11-012023-10-31
Company registration number:
SC409091
Verona (Glasgow) Limited
Unaudited Filleted Financial Statements for the year ended
31 October 2023
Verona (Glasgow) Limited
Statement of Financial Position
31 October 2023
20232022
Note££
Fixed assets    
Tangible assets 5
9,637
 
12,231
 
Current assets    
Stocks
6,060
 
5,500
 
Debtors 6
36,942
 
852
 
Cash at bank and in hand
1,093
 
49,196
 
44,095
 
55,548
 
Creditors: amounts falling due within one year 7
(158,377
)
(174,963
)
Net current liabilities
(114,282
)
(119,415
)
Total assets less current liabilities (104,645 ) (107,184 )
Creditors: amounts falling due after more than one year 8
(73,514
)
(83,612
)
Net liabilities
(178,159
)
(190,796
)
Capital and reserves    
Called up share capital
2
 
2
 
Profit and loss account
(178,161
)
(190,798
)
Shareholders deficit
(178,159
)
(190,796
)
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.
Director's responsibilities:
  • The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
  • The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
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 income statement has not been delivered.
These
financial statements
were approved by the board of directors and authorised for issue on
30 July 2024
, and are signed on behalf of the board by:
O Dinler
Director
Company registration number:
SC409091
Verona (Glasgow) Limited
Notes to the Financial Statements
Year ended
31 October 2023

1 General information

The company is a private company limited by shares and is registered in Scotland. The address of the registered office is
NKA Chartered Certified Accountants
,
4 Lynedoch Place
,
Glasgow
,
G3 6AB
, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Plant and machinery
15% straight line
Fixtures and fittings
15% straight line
Motor vehicles
15% straight line

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell.

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4 Average number of employees

The average number of persons employed by the company during the year was
6
(2022:
6.00
).

5 Tangible assets

Plant and machinery etc.
£
Cost  
At
1 November 2022
and
31 October 2023
91,099
 
Depreciation  
At
1 November 2022
78,868
 
Charge
2,594
 
At
31 October 2023
81,462
 
Carrying amount  
At
31 October 2023
9,637
 
At 31 October 2022
12,231
 

6 Debtors

20232022
££
Trade debtors
5,854
 
852
 
Other debtors
31,088
  -  
36,942
 
852
 

7 Creditors: amounts falling due within one year

20232022
££
Bank loans and overdrafts
10,098
 
9,849
 
Trade creditors
20,447
 
23,010
 
Taxation and social security
5,403
 
6,034
 
Other creditors
122,429
 
136,070
 
158,377
 
174,963
 

8 Creditors: amounts falling due after more than one year

20232022
££
Bank loans and overdrafts
16,514
 
26,612
 
Other creditors
57,000
 
57,000
 
73,514
 
83,612