Caseware UK (AP4) 2024.0.164 2024.0.164 2024-04-302024-04-30false2023-05-01Publishing44truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 06557209 2023-05-01 2024-04-30 06557209 2022-05-01 2023-04-30 06557209 2024-04-30 06557209 2023-04-30 06557209 c:Director1 2023-05-01 2024-04-30 06557209 d:FurnitureFittings 2023-05-01 2024-04-30 06557209 d:OfficeEquipment 2023-05-01 2024-04-30 06557209 d:OfficeEquipment 2024-04-30 06557209 d:OfficeEquipment 2023-04-30 06557209 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 06557209 d:CurrentFinancialInstruments 2024-04-30 06557209 d:CurrentFinancialInstruments 2023-04-30 06557209 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 06557209 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 06557209 d:ShareCapital 2024-04-30 06557209 d:ShareCapital 2023-04-30 06557209 d:RetainedEarningsAccumulatedLosses 2024-04-30 06557209 d:RetainedEarningsAccumulatedLosses 2023-04-30 06557209 c:FRS102 2023-05-01 2024-04-30 06557209 c:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 06557209 c:FullAccounts 2023-05-01 2024-04-30 06557209 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 06557209 d:AcceleratedTaxDepreciationDeferredTax 2024-04-30 06557209 d:AcceleratedTaxDepreciationDeferredTax 2023-04-30 06557209 e:PoundSterling 2023-05-01 2024-04-30 iso4217:GBP xbrli:pure

Registered number: 06557209










VHEAVEN LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2024

 
VHEAVEN LTD
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF VHEAVEN LTD
FOR THE YEAR ENDED 30 APRIL 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 VHeaven Ltd for the year ended 30 April 2024 which comprise  the Statement of financial position 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 in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the director of VHeaven Ltd in accordance with the terms of our engagement letter dated 1st December 2021Our work has been undertaken solely to prepare for your approval the financial statements of VHeaven Ltd and state those matters that we have agreed to state to the director of VHeaven Ltd in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than VHeaven Ltd and its director for our work or for this report. 

It is your duty to ensure that VHeaven Ltd 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 VHeaven Ltd. You consider that VHeaven Ltd 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 VHeaven Ltd. 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.

  



McColes & Co (Herts) Ltd
 
Chartered Accountants
  
First Floor
28 Whitehorse Street
Baldock
Herts
SG7 6QQ
31 January 2025
Page 1

 
VHEAVEN LTD
REGISTERED NUMBER: 06557209

STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2024

2024
2023
£
£

Fixed assets
  

Tangible assets
 4 
976
1,792

  
976
1,792

Current assets
  

Debtors: amounts falling due within one year
 5 
147,245
113,546

Cash at bank and in hand
  
321,719
389,491

  
468,964
503,037

Creditors: amounts falling due within one year
 6 
(58,943)
(38,090)

Net current assets
  
 
 
410,021
 
 
464,947

Total assets less current liabilities
  
410,997
466,739

Provisions for liabilities
  

Deferred tax
 7 
(219)
(341)

  
 
 
(219)
 
 
(341)

Net assets
  
410,778
466,398


Capital and reserves
  

Called up share capital 
  
3,280
3,280

Profit and loss account
  
407,498
463,118

  
410,778
466,398


Page 2

 
VHEAVEN LTD
REGISTERED NUMBER: 06557209
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 APRIL 2024

The director considers 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 director acknowledges his 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 31 January 2025.




N D Argent
Director

The notes on pages 4 to 9 form part of these financial statements.

Page 3

 
VHEAVEN LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.Accounting policies

 
1.1

Basis of preparation of financial statements

The presentational currency of the Company is GBP.

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 following principal accounting policies have been applied:

 
1.2

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.

Trust
The Company has created a trust whose beneficiaries will include employees of the Company and their dependents.  Assets held under this trust will be controlled by trustees who will be acting independently and entirely at their own discretion.
Where assets are held in the trust and these are considered by the Company to be in respect of services already provided by employees to the Company, the Company will account for these as assets of the trust when payment is made to the trust. The value transferred will be charged in the Company’s profit and loss account for the year to which it relates.

 
1.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 4

 
VHEAVEN LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.Accounting policies (continued)

 
1.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
1.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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 reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


 
1.6

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.

Page 5

 
VHEAVEN LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.Accounting policies (continued)


1.6
Tangible fixed assets (continued)

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

Depreciation is provided on the following basis:

Fixtures & fittings
-
25%
reducing balance
Office equipment
-
33%
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.

 
1.7

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.

 
1.8

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.

 
1.9

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.

 
1.10

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
1.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 6

 
VHEAVEN LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.


General information

The company is a private company, limited by shares and registered in England.
Its registered number is: 06557209
Its Registered Office is: 
4th Floor, 6 Aztec Row
Berners Road
London
N1 0PW


3.


Employees

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


4.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 May 2023
3,147


Additions
331



At 30 April 2024

3,478



Depreciation


At 1 May 2023
1,354


Charge for the year on owned assets
1,148



At 30 April 2024

2,502



Net book value



At 30 April 2024
976



At 30 April 2023
1,792

Page 7

 
VHEAVEN LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

5.


Debtors

As restated
2024
2023
£
£


Trade debtors
51,236
34,567

Other debtors
88,891
72,200

Prepayments and accrued income
7,118
6,779

147,245
113,546



6.


Creditors: Amounts falling due within one year

As restated
2024
2023
£
£

Trade creditors
607
10,798

Corporation tax
41,842
11,129

Other taxation and social security
13,599
12,148

Other creditors
-
1,215

Accruals and deferred income
2,895
2,800

58,943
38,090


Page 8

 
VHEAVEN LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

7.


Deferred taxation




2024


£






At beginning of year
(341)


Charged to profit or loss
122



At end of year
(219)

The provision for deferred taxation is made up as follows:

As restated
2024
2023
£
£


Accelerated capital allowances
(219)
(341)

(219)
(341)


8.


Prior year adjustment

Following the settlement from the court case liabilities totalling £101,399.40 were considered as paid by the company and should have been personal costs.  These have adjusted reserves in these financial statements as a PYA and relate to 2013/14.


9.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £100,000 (2023 - £80,064). Contributions totalling £0 (2023 - £0) were payable to the fund at the reporting date and are included in creditors.


10.


Related party transactions

The amount due from the director Mr N D Argent at the reporting date and included in Other Debtors is £62,722; (2023: £67,200).  The loan does not attract a rate of interest and is repayable on demand.

 
Page 9