Acorah Software Products - Accounts Production 15.0.600 false true 31 July 2023 1 August 2022 false 1 August 2023 31 July 2024 31 July 2024 09683776 Mr M Van Wezel Mr O Velasquez Rincon iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09683776 2023-07-31 09683776 2024-07-31 09683776 2023-08-01 2024-07-31 09683776 frs-core:CurrentFinancialInstruments 2024-07-31 09683776 frs-core:Non-currentFinancialInstruments 2024-07-31 09683776 frs-core:BetweenOneFiveYears 2024-07-31 09683776 frs-core:ComputerEquipment 2024-07-31 09683776 frs-core:ComputerEquipment 2023-08-01 2024-07-31 09683776 frs-core:ComputerEquipment 2023-07-31 09683776 frs-core:FurnitureFittings 2024-07-31 09683776 frs-core:FurnitureFittings 2023-08-01 2024-07-31 09683776 frs-core:FurnitureFittings 2023-07-31 09683776 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-07-31 09683776 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-08-01 2024-07-31 09683776 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-07-31 09683776 frs-core:MoreThanFiveYears 2024-07-31 09683776 frs-core:PlantMachinery 2024-07-31 09683776 frs-core:PlantMachinery 2023-08-01 2024-07-31 09683776 frs-core:PlantMachinery 2023-07-31 09683776 frs-core:WithinOneYear 2024-07-31 09683776 frs-core:ShareCapital 2024-07-31 09683776 frs-core:RetainedEarningsAccumulatedLosses 2024-07-31 09683776 frs-bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 09683776 frs-bus:FilletedAccounts 2023-08-01 2024-07-31 09683776 frs-bus:SmallEntities 2023-08-01 2024-07-31 09683776 frs-bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 09683776 frs-bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 09683776 frs-bus:Director1 2023-08-01 2024-07-31 09683776 frs-bus:Director2 2023-08-01 2024-07-31 09683776 frs-core:CurrentFinancialInstruments 1 2024-07-31 09683776 frs-core:CurrentFinancialInstruments 9 2024-07-31 09683776 frs-countries:EnglandWales 2023-08-01 2024-07-31 09683776 2022-07-31 09683776 2023-07-31 09683776 2022-08-01 2023-07-31 09683776 frs-core:CurrentFinancialInstruments 2023-07-31 09683776 frs-core:Non-currentFinancialInstruments 2023-07-31 09683776 frs-core:BetweenOneFiveYears 2023-07-31 09683776 frs-core:MoreThanFiveYears 2023-07-31 09683776 frs-core:WithinOneYear 2023-07-31 09683776 frs-core:ShareCapital 2023-07-31 09683776 frs-core:RetainedEarningsAccumulatedLosses 2023-07-31 09683776 frs-core:CurrentFinancialInstruments 1 2023-07-31 09683776 frs-core:CurrentFinancialInstruments 9 2023-07-31
Registered number: 09683776
Velasquez And Van Wezel Ltd.
Unaudited Financial Statements
For The Year Ended 31 July 2024
djca Limited
Contents
Page
Accountant's Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—6
Page 1
Accountant's Report
Report to the directors on the preparation of the unaudited statutory accounts of Velasquez And Van Wezel Ltd. For The Year Ended 31 July 2024
To assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of Velasquez And Van Wezel Ltd. which comprise the Profit and Loss Account, the Balance Sheet and the related notes, from the company’s accounting records and from information and explanations you have given us.
As a practising member of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made to the directors of Velasquez And Van Wezel 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 Velasquez And Van Wezel Ltd. and state those matters that we have agreed to state to the directors of Velasquez And Van Wezel Ltd. , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Velasquez And Van Wezel Ltd. and its directors as a body for our work or for this report.
It is your duty to ensure that Velasquez And Van Wezel 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 or loss of Velasquez And Van Wezel Ltd. . You consider that Velasquez And Van Wezel 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 Velasquez And Van Wezel 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 financial statements.
Signed
Robert Fiford FCCA
09/10/2024
djca Limited
ACCA
154-160 Fleet Street
London
EC4A 2DQ
Page 1
Page 2
Balance Sheet
Registered number: 09683776
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 46,067 54,874
46,067 54,874
CURRENT ASSETS
Stocks 5 5,000 3,500
Debtors 6 26,800 34,868
Cash at bank and in hand 79,852 37,382
111,652 75,750
Creditors: Amounts Falling Due Within One Year 7 (62,132 ) (54,316 )
NET CURRENT ASSETS (LIABILITIES) 49,520 21,434
TOTAL ASSETS LESS CURRENT LIABILITIES 95,587 76,308
Creditors: Amounts Falling Due After More Than One Year 8 (4,167 ) (9,167 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (9,010 ) (8,116 )
NET ASSETS 82,410 59,025
CAPITAL AND RESERVES
Called up share capital 9 10,000 10,000
Profit and Loss Account 72,410 49,025
SHAREHOLDERS' FUNDS 82,410 59,025
Page 2
Page 3
For the year ending 31 July 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 directors acknowledge their 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr M Van Wezel
Director
09/10/2024
The notes on pages 4 to 6 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Velasquez And Van Wezel Ltd. is a private company, limited by shares, incorporated in England & Wales, registered number 09683776 . The registered office is 52 West Walk, East Barnet, Barnet, Hertfordshire, EN4 8NU.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 10% Straight Line
Plant & Machinery 20% Straight Line
Fixtures & Fittings 20% Straight Line
Computer Equipment 25% Straight Line
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
Page 4
Page 5
2.6. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 20 (2023: 17)
20 17
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 August 2023 59,700 25,606 13,987 2,214 101,507
Additions - 747 587 231 1,565
As at 31 July 2024 59,700 26,353 14,574 2,445 103,072
Depreciation
As at 1 August 2023 16,343 20,483 8,231 1,576 46,633
Provided during the period 5,970 2,291 1,634 477 10,372
As at 31 July 2024 22,313 22,774 9,865 2,053 57,005
Net Book Value
As at 31 July 2024 37,387 3,579 4,709 392 46,067
As at 1 August 2023 43,357 5,123 5,756 638 54,874
5. Stocks
2024 2023
£ £
Materials 5,000 3,500
6. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 7,535 7,374
Other debtors 2,192 7,365
Rent deposit 17,073 17,073
Corporation tax recoverable assets - 3,056
26,800 34,868
Page 5
Page 6
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 15,215 14,029
Bank loans and overdrafts 5,000 5,000
Corporation tax 2,450 -
Other taxes and social security 3,041 3,886
VAT 34,796 30,386
Other creditors - 396
Accruals and deferred income 540 619
Directors' loan accounts 1,090 -
62,132 54,316
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 4,167 9,167
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 10,000 10,000
10. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 34,145 34,145
Later than one year and not later than five years 136,580 170,725
Later than five years 207,715 170,725
378,440 375,595
Page 6