2023-01-012023-12-312023-12-31false03682600VERSATILE MULTIMEDIA 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VERSATILE MULTIMEDIA LIMITED

Registered Number
03682600
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

VERSATILE MULTIMEDIA LIMITED
Company Information
for the year from 1 January 2023 to 31 December 2023

Director

LOWREY, Christopher

Company Secretary

JONES, Cliff Colin

Registered Address

12a Marlborough Place
Brighton
BN1 1WN

Registered Number

03682600 (England and Wales)
VERSATILE MULTIMEDIA LIMITED
Balance Sheet as at
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets32,3743,077
2,3743,077
Current assets
Debtors4448513
Cash at bank and on hand1,104972
1,5521,485
Creditors amounts falling due within one year5(38,664)(35,469)
Net current assets (liabilities)(37,112)(33,984)
Total assets less current liabilities(34,738)(30,907)
Accruals and deferred income(455)(455)
Net assets(35,193)(31,362)
Capital and reserves
Called up share capital100100
Profit and loss account(35,293)(31,462)
Shareholders' funds(35,193)(31,362)
The financial statements were approved and authorised for issue by the Director on 2 August 2024, and are signed on its behalf by:
LOWREY, Christopher
Director
Registered Company No. 03682600
VERSATILE MULTIMEDIA LIMITED
Notes to the Financial Statements
for the year ended 31 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Office Equipment25
2.Average number of employees

20232022
Average number of employees during the year00
3.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 January 2322,46522,465
At 31 December 2322,46522,465
Depreciation and impairment
At 01 January 2319,38819,388
Charge for year703703
At 31 December 2320,09120,091
Net book value
At 31 December 232,3742,374
At 31 December 223,0773,077
4.Debtors: amounts due within one year

2023

2022

££
Other debtors448513
Total448513
5.Creditors: amounts due within one year

2023

2022

££
Other creditors38,66435,469
Total38,66435,469
6.Controlling party
The company is controlled by its director, C Lowrey, by virtue of his ownership of 100% of the issued share capital.