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Registered Number: 11698023
England and Wales

 

 

 

V SQUARE IT SOLUTIONS LTD


Abridged Accounts
 


Period of accounts

Start date: 01 April 2023

End date: 31 March 2024
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 5 3,055    1,075 
3,055    1,075 
Current assets      
Debtors: amounts falling due within one year 53,492    53,816 
Cash at bank and in hand 20,542    10,710 
74,034    64,526 
Creditors: amount falling due within one year (54,425)   (37,368)
Net current assets 19,609    27,158 
 
Total assets less current liabilities 22,664    28,233 
Creditors: amount falling due after more than one year (12,032)   (17,888)
Net assets 10,632    10,345 
 

Capital and reserves
     
Called up share capital 6 10,000    10,000 
Profit and loss account 632    345 
Shareholders' funds 10,632    10,345 
 


For the year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges 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 director on 12 November 2024 and were signed by:


-------------------------------
Mr. Venkata Kiran Kumar VISHNUMOLAKALA
Director
1
General Information
V SQUARE IT SOLUTIONS LTD is a private company, limited by shares, registered in England and Wales, registration number 11698023, registration address Unit 212, 12 Cody Road, London, E16 4SR.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
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
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:
Computer Equipment 25% Reducing Balance
2.

Directors' Emoluments

2024
£
  2023
£
Administrative Expenses
Directors Salaries 11,000    9,500 
11,000    9,500 

3.

Staff Costs

2024
£
  2023
£
Wages and salaries 138,642    107,354 
Social security costs 7,458    3,871 
146,100    111,225 

4.

Average number of employees

Average number of employees during the year was 7 (2023 : 6).
5.

Tangible fixed assets

Cost or valuation Computer Equipment   Total
  £   £
At 01 April 2023 2,449    2,449 
Additions 2,498    2,498 
Disposals  
At 31 March 2024 4,947    4,947 
Depreciation
At 01 April 2023 1,374    1,374 
Charge for year 518    518 
On disposals  
At 31 March 2024 1,892    1,892 
Net book values
Closing balance as at 31 March 2024 3,055    3,055 
Opening balance as at 01 April 2023 1,075    1,075 


6.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
100 Class A shares of £100.00 each 10,000    10,000 
10,000    10,000 

2