Acorah Software Products - Accounts Production 16.0.110 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 07916804 Mr Enrico Varchetta Mr Luca Montuori Mr Antonio Cersosimo iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07916804 2023-03-31 07916804 2024-03-31 07916804 2023-04-01 2024-03-31 07916804 frs-core:CurrentFinancialInstruments 2024-03-31 07916804 frs-core:Non-currentFinancialInstruments 2024-03-31 07916804 frs-core:PlantMachinery 2024-03-31 07916804 frs-core:PlantMachinery 2023-04-01 2024-03-31 07916804 frs-core:PlantMachinery 2023-03-31 07916804 frs-core:ShareCapital 2024-03-31 07916804 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 07916804 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 07916804 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 07916804 frs-bus:SmallEntities 2023-04-01 2024-03-31 07916804 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 07916804 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 07916804 frs-bus:Director1 2023-04-01 2024-03-31 07916804 frs-bus:Director2 2023-04-01 2024-03-31 07916804 frs-bus:Director3 2023-04-01 2024-03-31 07916804 frs-countries:EnglandWales 2023-04-01 2024-03-31 07916804 2022-03-31 07916804 2023-03-31 07916804 2022-04-01 2023-03-31 07916804 frs-core:CurrentFinancialInstruments 2023-03-31 07916804 frs-core:Non-currentFinancialInstruments 2023-03-31 07916804 frs-core:ShareCapital 2023-03-31 07916804 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 07916804
Varmont Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 07916804
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 717 867
717 867
CURRENT ASSETS
Stocks 5 36,383 37,500
Debtors 6 43,258 32,911
Cash at bank and in hand 459 1,348
80,100 71,759
Creditors: Amounts Falling Due Within One Year 7 (58,888 ) (34,569 )
NET CURRENT ASSETS (LIABILITIES) 21,212 37,190
TOTAL ASSETS LESS CURRENT LIABILITIES 21,929 38,057
Creditors: Amounts Falling Due After More Than One Year 8 (17,313 ) (19,768 )
NET ASSETS 4,616 18,289
CAPITAL AND RESERVES
Called up share capital 9 4 4
Profit and Loss Account 4,612 18,285
SHAREHOLDERS' FUNDS 4,616 18,289
Page 1
Page 2
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 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 Enrico Varchetta
Director
15/11/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Varmont Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07916804 . The registered office is 13 Quay Street, Cardiff, CF10 1EA.
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:
Plant & Machinery 25% Reducing Balance
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was as follows:4  2 (2023: 2)
2 2
4. Tangible Assets
Plant & Machinery
£
Cost
As at 1 April 2023 6,400
As at 31 March 2024 6,400
...CONTINUED
Page 3
Page 4
Depreciation
As at 1 April 2023 5,533
Provided during the period 150
As at 31 March 2024 5,683
Net Book Value
As at 31 March 2024 717
As at 1 April 2023 867
5. Stocks
2024 2023
£ £
Stock 36,383 37,500
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 34,149 23,802
Due after more than one year
Other debtors 9,109 9,109
43,258 32,911
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 16,307 7,954
Bank loans and overdrafts 23,006 19,677
Other taxes and social security 173 632
VAT 4,442 1,714
Net wages 3,600 1,600
Other creditors 50 -
Accruals and deferred income 868 -
Directors' loan accounts 10,442 2,992
58,888 34,569
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 17,313 19,768
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 4 4
Page 4