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Registered number: 11983808










VSQUARE VENTURES LIMITED
UNAUDITED
DIRECTOR'S REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023




















 
VSQUARE VENTURES LIMITED
 
 
Company Information


Director
Vincent Menot 




Registered number
11983808



Registered office
PO Box 4385
11983808

Companies House Default Address

Cardiff

CF14 8LH





 
VSQUARE VENTURES LIMITED
Registered number: 11983808

Balance sheet
As at 31 May 2023

2023
2022
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
38,829
-

Cash at bank and in hand
 5 
534,240
474,296

  
573,069
474,296

Creditors: amounts falling due within one year
 6 
(245,195)
(229,556)

Net current assets
  
 
 
327,874
 
 
244,740

Total assets less current liabilities
  
327,874
244,740

  

Net assets
  
327,874
244,740


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Profit and loss account
  
326,874
243,740

  
327,874
244,740


Page 1

 
VSQUARE VENTURES LIMITED
Registered number: 11983808
    
Balance sheet (continued)
As at 31 May 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 1 August 2024.




Vincent Menot
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
VSQUARE VENTURES LIMITED
 
 
 
Notes to the financial statements
For the Year Ended 31 May 2023

1.


General information

Vsquare Ventures Limited is a private company limited by share capital, incorporated in England and Wales, with registration number 11983808. The address of the registered office is PO Box 4385, 11983808: Companies House Default Address, Cardiff, CF14 8LH.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
VSQUARE VENTURES LIMITED
 
 
 
Notes to the financial statements
For the Year Ended 31 May 2023

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Taxation

Tax is recognised in profit or loss 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 balance sheet date in the countries where the Company operates and generates income.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 4

 
VSQUARE VENTURES LIMITED
 
 
 
Notes to the financial statements
For the Year Ended 31 May 2023

2.Accounting policies (continued)

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

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.


3.


Employees

2023
2022
£
£

Wages and salaries
9,100
8,876

9,100
8,876


The average monthly number of employees, including directors, during the year was 1 (2022 - 1).


4.


Debtors

2023
2022
£
£


Other debtors
38,829
-

38,829
-



5.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
534,240
474,296

534,240
474,296


Page 5

 
VSQUARE VENTURES LIMITED
 
 
 
Notes to the financial statements
For the Year Ended 31 May 2023

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
12,627
16,096

Corporation tax
51,011
49,702

Other creditors
-
163,758

Accruals and deferred income
181,557
-

245,195
229,556



7.


Related party transactions

Included in debtors at the year end was £29,031 (2022: £Nil) owed to the company by the director.

 
Page 6