2022-12-012023-11-302023-11-30falseSC613591VERTICE PROJECTS 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VERTICE PROJECTS LTD

Registered Number
SC613591
(Scotland)

Unaudited Financial Statements for the Year ended
30 November 2023

VERTICE PROJECTS LTD
Company Information
for the year from 1 December 2022 to 30 November 2023

Director

MCMILLAN, Ross

Registered Address

1 Gartness Road
Killearn
Glasgow
G63 9NT

Registered Number

SC613591 (Scotland)
VERTICE PROJECTS LTD
Balance Sheet as at
30 November 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets328,52433,524
28,52433,524
Current assets
Debtors22,61222,221
Cash at bank and on hand-3,380
22,61225,601
Creditors amounts falling due within one year4(54,293)(26,878)
Net current assets (liabilities)(31,681)(1,277)
Total assets less current liabilities(3,157)32,247
Creditors amounts falling due after one year5(2,318)(3,383)
Net assets(5,475)28,864
Capital and reserves
Called up share capital11
Profit and loss account(5,476)28,863
Shareholders' funds(5,475)28,864
The financial statements were approved and authorised for issue by the Director on 16 August 2024, and are signed on its behalf by:
MCMILLAN, Ross
Director
Registered Company No. SC613591
VERTICE PROJECTS LTD
Notes to the Financial Statements
for the year ended 30 November 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. 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 compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
2.Average number of employees

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

Plant & machinery

Office Equipment

Total

£££
Cost or valuation
At 01 December 2244,699-44,699
Additions5,850-5,850
Transfers-433433
At 30 November 2350,54943350,982
Depreciation and impairment
At 01 December 2211,175-11,175
Charge for year11,17510811,283
At 30 November 2322,35010822,458
Net book value
At 30 November 2328,19932528,524
At 30 November 2233,524-33,524
4.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables47,4167,646
Bank borrowings and overdrafts1,102-
Taxation and social security5,47519,232
Other creditors300-
Total54,29326,878
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
5.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts2,3183,383
Total2,3183,383