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Registered Number: 10547110
England and Wales

 

 

 


Abridged Accounts

for the year ended 31 December 2023

for

VAREN CONSULTING LTD

Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Varen Consulting Ltd for the year ended 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Varen Consulting Ltd for the year ended 31 December 2023 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the companys accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/members/regulations-standards-and-guidance
This report is made solely to the Board of Directors of Varen Consulting Ltd , as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Varen Consulting Ltd and state those matters that we have agreed to state to the Board of Directors of Varen Consulting Ltd , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Varen Consulting Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Varen Consulting Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Varen Consulting Ltd . You consider that Varen Consulting Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Varen Consulting Ltd . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts
31 December 2023



....................................................
Strata Accountants Limited
Milton Park Innovation Centre
99 Park Drive
Abingdon
OX14 4RY
14 March 2024
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 89,638    31,644 
Investments 4 100    100 
89,738    31,744 
Current assets      
Debtors 23,622    19,309 
Cash at bank and in hand 18,603    61,868 
42,225    81,177 
Creditors: amount falling due within one year (48,027)   (47,992)
Net current assets (5,802)   33,185 
 
Total assets less current liabilities 83,936    64,929 
Creditors: amount falling due after more than one year (12,000)   (19,200)
Provisions for liabilities (19,271)   (6,012)
Net assets 52,665    39,717 
 

Capital and reserves
     
Called up share capital 5 200    200 
Profit and loss account 52,465    39,517 
Shareholders' funds 52,665    39,717 
 


For the year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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.
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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 14 March 2024 and were signed on its behalf by:


-------------------------------
Stephen Moore
Director
2
General Information
Varen Consulting Ltd is a private company, limited by shares, registered in England and Wales, registration number 10547110, registration address 3 Bakehouse Lane, Marcham, Abingdon, Oxfordshire, OX13 6FW.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 3 years Straight Line
Motor Vehicles 20% Reducing Balance
Fixtures and Fittings 3 years Straight Line
Computer Equipment 3 years Straight Line
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
Current asset investments
Current asset investments are stated at the lower of cost and net realisable value.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 3 (2022 : 2).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £   £
At 01 January 2023   48,800    472    2,493    51,765 
Additions 4,749    61,725        66,474 
Disposals        
At 31 December 2023 4,749    110,525    472    2,493    118,239 
Depreciation
At 01 January 2023   19,130    104    887    20,121 
Charge for year 529    6,962    158    831    8,480 
On disposals        
At 31 December 2023 529    26,092    262    1,718    28,601 
Net book values
Closing balance as at 31 December 2023 4,220    84,433    210    775    89,638 
Opening balance as at 01 January 2023   29,670    368    1,606    31,644 


4.

Investments

Cost Other investments other than loans   Total
  £   £
At 01 January 2023 100    100 
Additions  
Transfer to/from tangible fixed assets  
Disposals  
At 31 December 2023 100    100 

5.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
100 Ordinary shares of £1.00 each 100    100 
100 Class B shares of £1.00 each 100    100 
200    200 

3