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REGISTERED NUMBER: SC373537 (Scotland)
















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Varius Ltd.

Varius Ltd. (Registered number: SC373537)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Varius Ltd.

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Dean Cooper
Leone Gordon





REGISTERED OFFICE: Westburn Business Centre
McNee Road
Prestwick
Ayrshire
KA9 2PB





REGISTERED NUMBER: SC373537 (Scotland)





ACCOUNTANTS: Gillespie & Anderson
Chartered Accountants
Westburn Business Centre
McNee Road
Prestwick
KA9 2PB

Varius Ltd. (Registered number: SC373537)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 5,722 5,722
Tangible assets 5 202 546
5,924 6,268

CURRENT ASSETS
Debtors 6 81,053 80,035
Cash at bank 12,193 6,263
93,246 86,298
CREDITORS
Amounts falling due within one year 7 67,571 43,044
NET CURRENT ASSETS 25,675 43,254
TOTAL ASSETS LESS CURRENT
LIABILITIES

31,599

49,522

CREDITORS
Amounts falling due after more than one
year

8

(8,167

)

(15,167

)

PROVISIONS FOR LIABILITIES (39 ) (104 )
NET ASSETS 23,393 34,251

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 23,293 34,151
SHAREHOLDERS' FUNDS 23,393 34,251

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

Varius Ltd. (Registered number: SC373537)

Balance Sheet - continued
31 March 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 December 2024 and were signed on its behalf by:





Dean Cooper - Director


Varius Ltd. (Registered number: SC373537)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Varius Ltd. is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

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

Going concern
The company does not have any reliance on external funding for the day to day financing of business activities. The directors manage cash flow on a regular basis to ensure sufficient funds are available to meet commitments as they fall due . Having made the appropriate enquiries the directors are satisfied that this will continue to be the case over the next 12 months and beyond and as such has prepared the accounts on a going concern basis.

Turnover/revenue recognition
Sales comprise the fair value of the consideration received or receivable for the sale of goods and rendering of services in the ordinary course of the company's activities.Sales are presented, net of value-added tax, rebates and discounts.

The company recognises revenue when the amount of revenue and related cost can be reliably measured, it is probable that the collectability of the related receivables is reasonably assured and when the specific criteria for each of the company's activities are met.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - at varying rates on cost

Tangible fixed assets are stated at cost less depreciation.

Impairment of fixed assets
At each reporting date, the company reviews the carrying amounts of its tangible and intangible fixed assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the amount of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Varius Ltd. (Registered number: SC373537)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
Financial assets and liabilities are recognised when the company becomes a party to the contractual provisions of the instrument and are classified in accordance with their underlying economic reality.

The company has two main categories of financial instruments, which are loans and other receivables and other financial liabilities:

Loans and other receivables
Loans and other receivables are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market. Upon recognition, these assets are measured at fair value less directly related transaction expenses. In successive periods these are measured at amortised cost, and any differences between acquisition cost and redemption value is accounted for over the borrowing period by using the effective interest method. If transaction costs are immaterial and the credit period is short, amortised cost is equal to the nominal value less any allowance for credit losses.

Other financial liabilities
Other financial liabilities are recognised initially at fair value, net of transaction costs incurred. In successive periods these are measured at amortised cost. Any differences between acquisition cost and redemption value is accounted for over the borrowing period by using the effective interest method. If transaction costs are immaterial and the credit period is short, amortised cost is equal to the nominal value.

Impairment of financial instruments
A provision for impairment is established when there is objective evidence that, as a result of one or more events that occurred after the initial recognition, the estimated future cash flows have been impacted.

Cash and cash equivalents
Cash and cash equivalents comprise cash held by the company and short term bank deposits with an original maturity of three months or less from inception and are subject to insignificant risk of changes in value.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

3. EMPLOYEES AND DIRECTORS

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

Varius Ltd. (Registered number: SC373537)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 April 2023
and 31 March 2024 5,722
NET BOOK VALUE
At 31 March 2024 5,722
At 31 March 2023 5,722

5. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 April 2023
and 31 March 2024 5,378
DEPRECIATION
At 1 April 2023 4,832
Charge for year 344
At 31 March 2024 5,176
NET BOOK VALUE
At 31 March 2024 202
At 31 March 2023 546

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 292 1,000
Amounts owed by related party 80,523 79,035
Other debtors 238 -
81,053 80,035

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 7,000 7,000
Taxation and social security 44,034 30,738
Other creditors 16,537 5,306
67,571 43,044

Varius Ltd. (Registered number: SC373537)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 8,167 15,167

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 15,167 22,167

The bank loan is supported by a 100% guarantee from the UK Government.

10. RELATED PARTY DISCLOSURES

A House 2 Home Ltd, is a company in which the directors own 100% of the issued share capital and is therefore a related party. At the year end, £80,523 (2023: £79,035) was due to Varius Ltd by A House 2 Home Ltd. This loan is unsecured, interest free and has no fixed repayment terms.

Directors' loan account
The company operates a loan account with the directors. At the year end, the balance due to the directors was £1,408 (2023: £1,605). This loan is unsecured, interest free and has no fixed repayment terms.

11. ULTIMATE CONTROLLING PARTY

The company is under the joint control of the directors Mr D Cooper and Miss L Gordon by virtue of their 100% shareholding in the company.