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Registered number: 03744975









VANGUARD INTEGRITY PROFESSIONALS LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
VANGUARD INTEGRITY PROFESSIONALS LIMITED
REGISTERED NUMBER: 03744975

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
502,388
184,816

Cash at bank and in hand
 5 
3,518,029
7,205,905

  
4,020,417
7,390,721

Creditors: amounts falling due within one year
 6 
(2,510,844)
(6,101,850)

Net current assets
  
1,509,573
1,288,871

Provisions for liabilities
  

Deferred tax
  
-
(17)

Net assets
  
1,509,573
1,288,854


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Profit and loss account
  
1,508,573
1,287,854

  
1,509,573
1,288,854


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 income and retained earnings 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 on 17 October 2024.




Y J Shoup
Director

The notes on pages 2 to 6 form part of these financial statements.

Page 1

 
VANGUARD INTEGRITY PROFESSIONALS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Vanguard Integrity Professionals Limited is a private company limited by shares incorporated in England and Wales. The registered office is 124 Finchley Road, London, England, NW3 5JS.

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

Going concern

The director has recieved confirmation from the director of Vanguard Integrity Professionals LLC, the parent company of Vanguard Integrity Professionals Limited that it will provide adequate financial support for the foreseeable future.
Having prepared forecasts and projections for the company and, taking into the economic conditions and possible changes in trading performance, alongside facts noted above, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Page 2

 
VANGUARD INTEGRITY PROFESSIONALS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

Revenue

Turnover is measured at fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. Software turnover is invoiced yearly in advance and recognised monthly with any unrecognised turnover included in the balance sheet as deferred income at the year end.
 
 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

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.

 
2.7

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown with borrowings in current liabilities.

 
2.8

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.

Page 3

 
VANGUARD INTEGRITY PROFESSIONALS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.9

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans to/from their third parties and related parties.

  
2.10

Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminating the employment of an employee or to providing termination benefits.

  
2.11

Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

  
2.12

Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2022 - 2).


4.


Debtors

2023
2022
£
£


Trade debtors
451,483
174,816

Other debtors
50,905
10,000

502,388
184,816


Page 4

 
VANGUARD INTEGRITY PROFESSIONALS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
3,518,029
7,205,905



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
7,788
-

Amounts owed to group undertakings
1,680,772
5,319,040

Other taxation and social security
1,391
359

Other creditors
42,564
170,308

Accruals and deferred income
778,329
612,143

2,510,844
6,101,850



7.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1,000 (2022 - 1,000) Ordinary shares shares of £1.00 each
1,000
1,000



8.


Related party transactions

The company is exempt from disclosing other related party transactions as they are with companies that are wholly owed within the group.


9.


Controlling party

The company's immediate controlling party is Vanguard Integrity Professionals LLC, a company incorporated in the United States of America. Copies of the financial statements of Vanguard Integrity Professionals LLC are available from its registered office: 6625 S.Eatern, Suite 100, Las Vegas, NV 89119, USA.


Page 5

 
VANGUARD INTEGRITY PROFESSIONALS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

10.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 17 October 2024 by Hetal Mistry (Senior Statutory Auditor) on behalf of Nyman Libson Paul LLP.

 
Page 6