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REGISTERED NUMBER: 11205784 (England and Wales)
















Verrado Limited

Unaudited Financial Statements

for the Year Ended 29th February 2024






Verrado Limited (Registered number: 11205784)






Contents of the Financial Statements
for the Year Ended 29th February 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Verrado Limited

Company Information
for the Year Ended 29th February 2024







Directors: Mr. A J Cumming
Mrs. B J Cumming





Registered office: 4th Floor
100 Fenchurch Street
London
EC3M 5JD





Registered number: 11205784 (England and Wales)





Accountants: Wilson Stevens
Accountants
4th Floor
100 Fenchurch Street
London
EC3M 5JD

Verrado Limited (Registered number: 11205784)

Statement of Financial Position
29th February 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 4 9,119 3,902
Investments 5 64,196 81,581
73,315 85,483

Current assets
Debtors 6 165,281 163,221
Cash at bank 5,720 1,378
171,001 164,599
Creditors
Amounts falling due within one year 7 175,055 167,273
Net current liabilities (4,054 ) (2,674 )
Total assets less current liabilities 69,261 82,809

Provisions for liabilities - 4,190
Net assets 69,261 78,619

Capital and reserves
Called up share capital 200 200
Fair value reserve 8 - 12,570
Retained earnings 69,061 65,849
69,261 78,619

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29th February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29th February 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.

Verrado Limited (Registered number: 11205784)

Statement of Financial Position - continued
29th February 2024


The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 29th November 2024 and were signed on its behalf by:





Mr. A J Cumming - Director


Verrado Limited (Registered number: 11205784)

Notes to the Financial Statements
for the Year Ended 29th February 2024

1. Statutory information

Verrado Limited is a private company, limited by shares , registered in England and Wales. 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 as modified by the revaluation of certain assets.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Fixtures and fittings - 25% reducing balance

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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.

3. Employees and directors

The average number of employees during the year was 3 (2023 - 2 ) .

Verrado Limited (Registered number: 11205784)

Notes to the Financial Statements - continued
for the Year Ended 29th February 2024

4. Tangible fixed assets
Fixtures
and
fittings
£   
Cost
At 1st March 2023 8,367
Additions 8,259
At 29th February 2024 16,626
Depreciation
At 1st March 2023 4,465
Charge for year 3,042
At 29th February 2024 7,507
Net book value
At 29th February 2024 9,119
At 28th February 2023 3,902

5. Fixed asset investments
Unlisted
investment
£   
Cost or valuation
At 1st March 2023 81,581
Revaluations (17,385 )
At 29th February 2024 64,196
Net book value
At 29th February 2024 64,196
At 28th February 2023 81,581

Cost or valuation at 29th February 2024 is represented by:

Unlisted
investment
£   
Valuation in 2023 16,760
Valuation in 2024 (17,385 )
Cost 64,821
64,196

6. Debtors: amounts falling due within one year
2024 2023
£    £   
Other debtors 165,281 163,221

Verrado Limited (Registered number: 11205784)

Notes to the Financial Statements - continued
for the Year Ended 29th February 2024

7. Creditors: amounts falling due within one year
2024 2023
£    £   
Trade creditors - 2,413
Taxation and social security 165,518 155,475
Other creditors 9,537 9,385
175,055 167,273

8. Reserves
Fair
value
reserve
£   
At 1st March 2023 12,570
Reclassification of reserves (12,570 )

At 29th February 2024 -

9. Directors' advances, credits and guarantees

The following advances and credits to a director subsisted during the years ended 29th February 2024 and 28th February 2023:

2024 2023
£    £   
Mr. A J Cumming
Balance outstanding at start of year 105,537 82,850
Amounts advanced 8,310 22,687
Amounts repaid (22,687 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 91,160 105,537