Caseware UK (AP4) 2023.0.135 2023.0.135 2024-08-312024-08-31false2023-09-01No description of principal activity44falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 00806827 2023-09-01 2024-08-31 00806827 2022-09-01 2023-08-31 00806827 2024-08-31 00806827 2023-08-31 00806827 c:Director2 2023-09-01 2024-08-31 00806827 d:Buildings d:LongLeaseholdAssets 2023-09-01 2024-08-31 00806827 d:Buildings d:LongLeaseholdAssets 2024-08-31 00806827 d:Buildings d:LongLeaseholdAssets 2023-08-31 00806827 d:CurrentFinancialInstruments 2024-08-31 00806827 d:CurrentFinancialInstruments 2023-08-31 00806827 d:CurrentFinancialInstruments d:WithinOneYear 2024-08-31 00806827 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 00806827 d:ShareCapital 2024-08-31 00806827 d:ShareCapital 2023-08-31 00806827 d:RetainedEarningsAccumulatedLosses 2024-08-31 00806827 d:RetainedEarningsAccumulatedLosses 2023-08-31 00806827 c:FRS102 2023-09-01 2024-08-31 00806827 c:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 00806827 c:FullAccounts 2023-09-01 2024-08-31 00806827 c:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 00806827 e:PoundSterling 2023-09-01 2024-08-31 iso4217:GBP xbrli:pure

Registered number: 00806827









V.C. IMPORT & EXPORT COMPANY LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 AUGUST 2024

 
V.C. IMPORT & EXPORT COMPANY LIMITED
 
 
  
REPORT TO THE DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF V.C. IMPORT & EXPORT COMPANY LIMITED
FOR THE YEAR ENDED 31 AUGUST 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of V.C. Import & Export Company Limited for the year ended 31 August 2024 which comprise  the Balance Sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants of Scotlandwe are subject to its ethical and other professional requirements which are detailed at https://icas.com/icas -framework-preparation -of-accounts.

This report is made solely to the Board of Directors of V.C. Import & Export Company Limited, as a body, in accordance with the terms of our engagement letter dated 8 February 2016Our work has been undertaken solely to prepare for your approval the financial statements of V.C. Import & Export Company Limited and state those matters that we have agreed to state to the Board of Directors of V.C. Import & Export Company Limited, as a body, in this report in accordance with the requirements of the Institute of Chartered Accountants of Scotland as detailed at https://icas.com/icas -framework-preparation -of-accounts. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than V.C. Import & Export Company Limited and its Board of Directors, as a body, for our work or for this report. 

It is your duty to ensure that V.C. Import & Export Company Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of V.C. Import & Export Company Limited. You consider that V.C. Import & Export Company Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of V.C. Import & Export Company Limited. 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 statutory financial statements.

  



Milton Avis LLP
 
Chartered Accountants
  
Pitt House
120 Baker Street
London
W1U 6TU
2 January 2025
Page 1

 
V.C. IMPORT & EXPORT COMPANY LIMITED
REGISTERED NUMBER: 00806827

BALANCE SHEET
AS AT 31 AUGUST 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
51,681
62,554

  
51,681
62,554

Current assets
  

Debtors: amounts falling due within one year
 5 
4,320
31,180

Cash at bank and in hand
 6 
800,468
188,387

  
804,788
219,567

Creditors: amounts falling due within one year
 7 
(390,200)
(329,078)

Net current assets/(liabilities)
  
 
 
414,588
 
 
(109,511)

Total assets less current liabilities
  
466,269
(46,957)

  

Net assets/(liabilities)
  
466,269
(46,957)


Capital and reserves
  

Called up share capital 
  
40,000
40,000

Profit and loss account
  
426,269
(86,957)

  
466,269
(46,957)

Page 2

 
V.C. IMPORT & EXPORT COMPANY LIMITED
REGISTERED NUMBER: 00806827
    
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 2 January 2025.




................................................
Ms V M M Chou
Director

The notes on pages 4 to 7 form part of these financial statements.

Page 3

 
V.C. IMPORT & EXPORT COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1.


General information

The company is incorporated in England and Wales and is limited by shares. The registered office is situated at Pitt House, 120 Baker Street, London, W1U 6TU.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The presentation currency is pounds sterling.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.


Page 4

 
V.C. IMPORT & EXPORT COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, .

Depreciation is provided on the following basis:

Long-term leasehold property
-
2%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees




The average monthly number of employees, including directors, during the year was 4 (2023 - 4).

Page 5

 
V.C. IMPORT & EXPORT COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

4.


Tangible fixed assets





Long-term leasehold property

£



Cost or valuation


At 1 September 2023
257,789


Disposals
(78,737)



At 31 August 2024

179,052



Depreciation


At 1 September 2023
195,235


Charge for the year on owned assets
1,855


Disposals
(69,719)



At 31 August 2024

127,371



Net book value



At 31 August 2024
51,681



At 31 August 2023
62,554

Page 6

 
V.C. IMPORT & EXPORT COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

5.


Debtors

2024
2023
£
£


Other debtors
-
2,205

Prepayments and accrued income
4,320
28,975

4,320
31,180



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
800,468
188,387

800,468
188,387



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Corporation tax
68,754
5,973

Other creditors
316,612
320,671

Accruals and deferred income
4,834
2,434

390,200
329,078



8.


Going concern

The company has continued to receive the financial support of the major shareholder and creditor beyond the date of these accounts and the directors consider that production of the accounts on the going concern basis is appropriate.  


9.


Related party transactions

At the balance sheet date the company owed ACME Corporation £305,112 (2023: £305,112).


10.


Controlling party

The company is controlled by the ACME Corporation by virtue of the fact that it owns the majority of the issued share capital. The ultimate holding company is INA limited a company incorporated in the British Virgin Islands. 

Page 7

 
V.C. IMPORT & EXPORT COMPANY LIMITED
 
 
 Page 8