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REGISTERED NUMBER: 07784688















REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

FOR

VCL TRADING EUROPE LTD

VCL TRADING EUROPE LTD (REGISTERED NUMBER: 07784688)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024




Page

Company Information 1

Report of the Directors 2

Report of the Accountants 3

Income Statement 4

Balance Sheet 5

Notes to the Financial Statements 6


VCL TRADING EUROPE LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTORS: Mr M Ostroumov
Ms V Ostroumova





REGISTERED OFFICE: Ground Floor Marlborough House
298 Regents Park Road
London
N3 2SZ





REGISTERED NUMBER: 07784688





ACCOUNTANTS: Fusion Accountancy Limited
Marlborough House
298 Regents Park Road
London
N3 2SZ

VCL TRADING EUROPE LTD (REGISTERED NUMBER: 07784688)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 AUGUST 2024

The directors present their report with the financial statements of the company for the year ended 31 August 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of development and supply of procurement software.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 September 2023 to the date of this report.

Mr M Ostroumov
Ms V Ostroumova

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





Mr M Ostroumov - Director


13 November 2024

VCL TRADING EUROPE LTD

REPORT OF THE ACCOUNTANTS TO THE DIRECTORS OF
VCL TRADING EUROPE LTD


In accordance with the engagement letter, and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company from the accounting records and information and explanations you have given to us.

This report is made to the directors in accordance with the terms of our engagement. Our work has been undertaken to prepare for approval by the directors the financial statements that we have been engaged to compile, to report to the directors that we have done so, and to state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's directors for our work or for this report.

You have acknowledged on the balance sheet as at year ended 31 August 2024 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.

We have not been instructed to carry out an audit of the financial statements. 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.






Fusion Accountancy Limited
Marlborough House
298 Regents Park Road
London
N3 2SZ


13 November 2024

VCL TRADING EUROPE LTD (REGISTERED NUMBER: 07784688)

INCOME STATEMENT
FOR THE YEAR ENDED 31 AUGUST 2024

31.8.24 31.8.23
Notes £    £   

TURNOVER 7,459,889 8,666,316

Cost of sales 5,358,221 7,500,529
GROSS PROFIT 2,101,668 1,165,787

Administrative expenses 3,306,941 2,609,505
OPERATING LOSS 4 (1,205,273 ) (1,443,718 )


Interest payable and similar expenses 31 -
LOSS BEFORE TAXATION (1,205,304 ) (1,443,718 )

Tax on loss (408,514 ) (506,067 )
LOSS FOR THE FINANCIAL YEAR (796,790 ) (937,651 )

VCL TRADING EUROPE LTD (REGISTERED NUMBER: 07784688)

BALANCE SHEET
31 AUGUST 2024

31.8.24 31.8.23
Notes £    £   
CURRENT ASSETS
Debtors 5 1,284,053 2,256,405
Cash at bank 229,798 160,189
1,513,851 2,416,594
CREDITORS
Amounts falling due within one year 6 4,699,935 4,805,888
NET CURRENT LIABILITIES (3,186,084 ) (2,389,294 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(3,186,084

)

(2,389,294

)

CAPITAL AND RESERVES
Called up share capital 7 20 20
Retained earnings 8 (3,186,104 ) (2,389,314 )
SHAREHOLDERS' FUNDS (3,186,084 ) (2,389,294 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

The financial statements were approved by the Board of Directors and authorised for issue on 13 November 2024 and were signed on its behalf by:





Mr M Ostroumov - Director


VCL TRADING EUROPE LTD (REGISTERED NUMBER: 07784688)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1. STATUTORY INFORMATION

Vcl Trading Europe Ltd is a private company, limited by shares , registered in Not specified/Other. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Foreign currencies
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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. OPERATING LOSS

The operating loss is stated after charging:

31.8.24 31.8.23
£    £   
Depreciation - owned assets - 1,868

VCL TRADING EUROPE LTD (REGISTERED NUMBER: 07784688)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

5. DEBTORS
31.8.24 31.8.23
£    £   
Amounts falling due within one year:
Trade debtors 718,934 1,468,681
Other debtors 442,823 506,067
VAT 8,673 4,072
1,170,430 1,978,820

Amounts falling due after more than one year:
Other debtors 113,623 277,585

Aggregate amounts 1,284,053 2,256,405

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade creditors 4,126,739 4,374,452
Social security and other taxes 1,999 876
Director's current account 569,857 429,220
Accruals and deferred income 1,340 1,340
4,699,935 4,805,888

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.8.24 31.8.23
value: £    £   
20 Ordinary shares £1 20 20

8. RESERVES
Retained
earnings
£   

At 1 September 2023 (2,389,314 )
Deficit for the year (796,790 )
At 31 August 2024 (3,186,104 )

VCL TRADING EUROPE LTD (REGISTERED NUMBER: 07784688)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

9. RELATED PARTY DISCLOSURES

At the balance sheet date, the company owed the company director M Ostroumov £569,857 (2023 - £429,220). This loan is unsecured, interest free and repayable on demand.

M Ostroumov is also the company director and shareholder of the following company:

Boson Capital Ltd
Included under debtors due after one year, is an amount of £12,500 (2023 - £Nil) due from Boson Capital Ltd. The loan is unsecured, interest free and payable on demand.

VCL Trading Europe Ltd is fully owned by the following company:

Value Chain Lab Ltd
Included under debtors due after one year, is an amount of £101,123 (2023 - £277,585) due from Value Chain Lab Ltd. The loan is unsecured, interest free and payable on demand.

Ultimate controlling party
The company is controlled by the directors.

10. TAXATION

The Company has carried forward losses of £97,599 (2023 - £97,599) which it can use against future taxable profit.