Vemco Consulting Limited
Registered number: 08276458
Balance Sheet
at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 42,587 21,660
Current assets
Debtors 4 723,544 803,351
Cash at bank and in hand 377,126 138,603
1,100,670 941,954
Creditors: amounts falling due within one year 5 (1,091,234) (915,750)
Net current assets 9,436 26,204
Total assets less current liabilities 52,023 47,864
Provisions for liabilities (11,000) -
Net assets 41,023 47,864
Capital and reserves
Called up share capital 10 10
Profit and loss account 41,013 47,854
Shareholders' funds 41,023 47,864
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Basil Evan Jackson
Director
Approved by the board on 30 August 2024
Vemco Consulting Limited
Notes to the Financial Statements
for the year ended 30 November 2023
1 Accounting policies
Basis of preparation
These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 – The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' ('FRS 102'), and with the Companies Act 2006. The financial statements have been prepared on the historical cost basis and are presented in Sterling (£).
Turnover
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 rendering of services and is recognised by reference to the stage of completion of the contract.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is calculated to write down the cost less estimated residual value of all tangible fixed assets over their expected useful lives, using the straight-line method.
Plant and machinery 25% per year
Motor vehicles 20% per year
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.
Creditors
Short term trade 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.
Taxation
Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the current or past reporting periods using the tax rates and laws that that have been enacted or substantively enacted by the reporting date.
Deferred tax is calculated using the tax rates and laws that that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference and is recognised in respect of all timing differences at the reporting date, except as otherwise indicated. Deferred tax assets are only recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. If and when all conditions for retaining tax allowances for the cost of a fixed asset have been met, the deferred tax is reversed.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Employee benefits
Short-term employee benefits and contributions to defined contribution pension plans are recognised as an expense in the period in which they are incurred.
The company operates stakeholder defined contribution pension schemes for the benefit of the employees and directors. The assets of the pension schemes are administered by an independent pensions provider.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 11 10
3 Tangible fixed assets
Plant and machinery Motor vehicles Total
£ £ £
Cost
At 1 December 2022 55,036 - 55,036
Additions 3,029 36,335 39,364
At 30 November 2023 58,065 36,335 94,400
Depreciation
At 1 December 2022 33,376 - 33,376
Charge for the year 11,170 7,267 18,437
At 30 November 2023 44,546 7,267 51,813
Net book value
At 30 November 2023 13,519 29,068 42,587
At 30 November 2022 21,660 - 21,660
4 Debtors 2023 2022
£ £
Trade debtors 445,514 510,874
Other taxes and social security - -
Other debtors 942 1,942
Owed by director 59,686 -
Owed by group company 2,099 120,531
Prepayments and accrued income 215,303 170,004
723,544 803,351
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors - 18,518
Owed to group company 830,995 650,025
Taxation and social security costs 224,642 223,479
Other creditors 13,439 12,300
Accruals and deferred income 22,158 11,428
1,091,234 915,750
6 Capital commitments 2023 2022
£ £
Amounts contracted for but not provided in the accounts - 36,335
7 Other financial commitments 2023 2022
£ £
Total future minimum payments under non-cancellable operating leases 785 785
8 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
B E Jackson
Loan 1 - 60,955 (1,269) 59,686
- 60,955 (1,269) 59,686
9 Controlling party
Vemco Limited, a company incorporated in England and Wales.
10 Other information
Vemco Consulting Limited is a private company limited by shares and incorporated in England. Its registered office is:
William James House
Cowley Road
Cambridgeshire
CB4 0WX
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