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Company Registration No. 13261208 (England and Wales)
Altiverse Ltd Unaudited accounts for the year ended 31 March 2024
Altiverse Ltd Unaudited accounts Contents
Page
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Altiverse Ltd Company Information for the year ended 31 March 2024
Director
M Thangavel
Company Number
13261208 (England and Wales)
Registered Office
142 Pole Hill Road Hayes England UB4 8NX
Accountants
TaxSense Accountants Ltd 203 West Street Fareham Hants PO16 0EN
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Altiverse Ltd Accountants' report
Accountants' report to the director of Altiverse Ltd on the preparation of the unaudited statutory accounts for the year ended 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Altiverse Ltd for the year ended 31 March 2024 as set out on pages 5 - 7 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Altiverse Ltd, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Altiverse Ltd and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Altiverse Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Altiverse 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 Altiverse Ltd. You consider that Altiverse 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 Altiverse 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.
TaxSense Accountants Ltd 203 West Street Fareham Hants PO16 0EN 10 September 2024
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Altiverse Ltd Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
6,105 
8,141 
Current assets
Debtors
8,030 
8,030 
Cash at bank and in hand
126,176 
23,806 
134,206 
31,836 
Creditors: amounts falling due within one year
(100,243)
(36,930)
Net current assets/(liabilities)
33,963 
(5,094)
Net assets
40,068 
3,047 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
40,067 
3,046 
Shareholders' funds
40,068 
3,047 
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 10 September 2024 and were signed on its behalf by
M Thangavel Director Company Registration No. 13261208
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Altiverse Ltd Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
Altiverse Ltd is a private company, limited by shares, registered in England and Wales, registration number 13261208. The registered office is 142 Pole Hill Road, Hayes, England, UB4 8NX.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
25% reducing balance
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
4
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 1 April 2023
12,080 
At 31 March 2024
12,080 
Depreciation
At 1 April 2023
3,939 
Charge for the year
2,036 
At 31 March 2024
5,975 
Net book value
At 31 March 2024
6,105 
At 31 March 2023
8,141 
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Altiverse Ltd Notes to the Accounts for the year ended 31 March 2024
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Other debtors
8,030 
8,030 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
26,583 
8,446 
Trade creditors
- 
13,500 
Taxes and social security
9,251 
2,628 
Other creditors
709 
- 
Loans from directors
63,014 
11,712 
Accruals
686 
644 
100,243 
36,930 
7
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
M Thangavel
Director Loan
(11,712)
(59,047)
(7,745)
(63,014)
(11,712)
(59,047)
(7,745)
(63,014)
8
Average number of employees
During the year the average number of employees was 5 (2023: 3).
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