Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-04-01falseNo description of principal activity3930falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 08335072 2023-04-01 2024-03-31 08335072 2022-04-01 2023-03-31 08335072 2024-03-31 08335072 2023-03-31 08335072 c:Director1 2023-04-01 2024-03-31 08335072 d:MotorVehicles 2023-04-01 2024-03-31 08335072 d:MotorVehicles 2024-03-31 08335072 d:MotorVehicles 2023-03-31 08335072 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 08335072 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 08335072 d:OfficeEquipment 2023-04-01 2024-03-31 08335072 d:OfficeEquipment 2024-03-31 08335072 d:OfficeEquipment 2023-03-31 08335072 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 08335072 d:OfficeEquipment d:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 08335072 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 08335072 d:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 08335072 d:CurrentFinancialInstruments 2024-03-31 08335072 d:CurrentFinancialInstruments 2023-03-31 08335072 d:Non-currentFinancialInstruments 2024-03-31 08335072 d:Non-currentFinancialInstruments 2023-03-31 08335072 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 08335072 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 08335072 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 08335072 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 08335072 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-03-31 08335072 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 08335072 d:ShareCapital 2024-03-31 08335072 d:ShareCapital 2023-03-31 08335072 d:RetainedEarningsAccumulatedLosses 2024-03-31 08335072 d:RetainedEarningsAccumulatedLosses 2023-03-31 08335072 c:FRS102 2023-04-01 2024-03-31 08335072 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 08335072 c:FullAccounts 2023-04-01 2024-03-31 08335072 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 08335072 d:HirePurchaseContracts d:WithinOneYear 2024-03-31 08335072 d:HirePurchaseContracts d:WithinOneYear 2023-03-31 08335072 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-03-31 08335072 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-03-31 08335072 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 08335072 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 08335072 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2024-03-31 08335072 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-03-31 08335072 d:LeasedAssetsHeldAsLessee 2024-03-31 08335072 d:LeasedAssetsHeldAsLessee 2023-03-31 08335072 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 08335072









VEDA ASSOCIATES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
VEDA ASSOCIATES LIMITED
REGISTERED NUMBER: 08335072

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
62,333
55,139

  
62,333
55,139

Current assets
  

Debtors: amounts falling due within one year
 5 
621,567
839,448

Cash at bank and in hand
 6 
632,515
516,467

  
1,254,082
1,355,915

Creditors: amounts falling due within one year
 7 
(604,410)
(738,305)

Net current assets
  
 
 
649,672
 
 
617,610

Total assets less current liabilities
  
712,005
672,749

Creditors: amounts falling due after more than one year
 8 
(38,493)
(45,307)

Provisions for liabilities
  

Deferred tax
 11 
(694)
(694)

  
 
 
(694)
 
 
(694)

Net assets
  
672,818
626,748


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
672,718
626,648

  
672,818
626,748


Page 1

 
VEDA ASSOCIATES LIMITED
REGISTERED NUMBER: 08335072
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
I Khan
Director

Date: 16 September 2024

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
VEDA ASSOCIATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Veda Associates Limited is a company incorporated and domiciled in the England and Wales.
The principal activitiy of the company is general refurbishment within the building and construction industry.
The registered office is First Floor Radius House, 51 Clarendon Road, Watford, Hertfordshire, WD17 1HP.
The principal trading address is Highland House, 165 The Broadway, Wimbledon, London SW19 1NE.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

  
2.2

Construction contracts

Revenue and costs are recognised by reference to the stage of completion of the contract activity at the balance sheet date, measured as the physical proportion that contract costs incurred for work performed to date bear to the estimated total contract costs, except where this would not be representative of the stage of completion. Variations in contract work, claims and incentive payments are included to the extent that they have been agreed with the customer.

When it is probable that total contract costs will exceed total contract turnover, the expected loss is
recognised as an expense immediately as allowance for foreseeable loss.

Amounts approved by all parties for payment and invoiced are recognised within trade debtors. Where contracts are valued and approved in excess of the amounts invoiced to date, these are recognised within amounts recoverable within long term contracts.

Where costs to date do not match proportional costs assessed to completion, estimated costs are recognised within accruals.

Page 3

 
VEDA ASSOCIATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.3

Construction contracts

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 4

 
VEDA ASSOCIATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 5

 
VEDA ASSOCIATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.9
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as detailed below.

Depreciation is provided on the following basis:

Motor vehicles
-
25% straight line
Office equipment
-
20% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

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.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term 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.

 
2.13

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.14

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 6

 
VEDA ASSOCIATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

3.


Employees

The average monthly number of employees, including directors, during the year was 39 (2023 - 30).


4.


Tangible fixed assets





Motor vehicles
Office equipment
Total

£
£
£



Cost or valuation


At 1 April 2023
59,697
128,608
188,305


Additions
26,158
12,074
38,232



At 31 March 2024

85,855
140,682
226,537



Depreciation


At 1 April 2023
39,873
93,293
133,166


Charge for the year on owned assets
-
19,391
19,391


Charge for the year on financed assets
11,647
-
11,647



At 31 March 2024

51,520
112,684
164,204



Net book value



At 31 March 2024
34,335
27,998
62,333



At 31 March 2023
19,825
35,314
55,139

Page 7

 
VEDA ASSOCIATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

           4.Tangible fixed assets (continued)

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Motor vehicles
34,336
19,824

34,336
19,824


5.


Debtors

2024
2023
£
£


Trade debtors
399,335
294,043

Other debtors
43,505
35,813

Amounts recoverable on long term contracts
178,727
509,592

621,567
839,448



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
632,515
516,467

632,515
516,467


Page 8

 
VEDA ASSOCIATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
10,000
10,000

Trade creditors
180,126
359,711

Corporation tax
194,001
169,799

Other taxation and social security
134,897
126,804

Obligations under finance lease and hire purchase contracts
19,059
11,086

Other creditors
15,882
7,027

Accruals and deferred income
50,445
53,878

604,410
738,305



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
20,000
30,000

Net obligations under finance leases and hire purchase contracts
18,493
15,307

38,493
45,307


Page 9

 
VEDA ASSOCIATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
10,000
10,000


10,000
10,000


Amounts falling due 2-5 years

Bank loans
20,000
30,000


20,000
30,000


30,000
40,000



10.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
19,060
11,086

Between 1-5 years
18,492
15,307

37,552
26,393


11.


Deferred taxation




2024


£






At beginning of year
(694)



At end of year
(694)

Page 10

 
VEDA ASSOCIATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
 
11.Deferred taxation (continued)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(694)
(694)

(694)
(694)


12.


Pension commitments

The company contributed towards personal pension funds. The assets of the schemes are held separately from those of the company in independently administered funds. The pension cost charge represents contributions payable by the company to the funds and amounts to £nil (2023: £Nil).
Contributions totalling £15,312 (2023: £6,211) were payable to the fund at the balance sheet date.


13.


Controlling party

The company is controlled by RKBE Limited.
There is no ultimate controlling party. 

 
Page 11