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REGISTERED NUMBER: 05779663 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

VERVACITY LIMITED

VERVACITY LIMITED (REGISTERED NUMBER: 05779663)






Contents of the Financial Statements
for the year ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


VERVACITY LIMITED

Company Information
for the year ended 30 June 2024







DIRECTORS: A P Hillion
J F Osler
P Ryan





REGISTERED OFFICE: The Brunswick
3 Holland Road
Hove
East Sussex
BN3 1JF





REGISTERED NUMBER: 05779663 (England and Wales)





ACCOUNTANTS: Plus Accounting
Chartered Accountants
Preston Park House
South Road
Brighton
East Sussex
BN1 6SB

VERVACITY LIMITED (REGISTERED NUMBER: 05779663)

Balance Sheet
30 June 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 39,705 70,542

CURRENT ASSETS
Stocks 15,000 15,000
Debtors 5 56,069 18,394
Cash at bank and in hand 109,853 196,548
180,922 229,942
CREDITORS
Amounts falling due within one year 6 (349,280 ) (341,565 )
NET CURRENT LIABILITIES (168,358 ) (111,623 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(128,653

)

(41,081

)

CREDITORS
Amounts falling due after more than one
year

7

(6,750

)

(20,948

)

PROVISIONS FOR LIABILITIES 8 (7,544 ) (16,397 )
NET LIABILITIES (142,947 ) (78,426 )

CAPITAL AND RESERVES
Called up share capital 4 4
Retained earnings (142,951 ) (78,430 )
SHAREHOLDERS' FUNDS (142,947 ) (78,426 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

VERVACITY LIMITED (REGISTERED NUMBER: 05779663)

Balance Sheet - continued
30 June 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 9 February 2025 and were signed on its behalf by:





P Ryan - Director


VERVACITY LIMITED (REGISTERED NUMBER: 05779663)

Notes to the Financial Statements
for the year ended 30 June 2024

1. STATUTORY INFORMATION

Vervacity 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.

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 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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work preformed to date to the total estimated contract costs.

Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended by management.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Short leasehold-Straight line over the life of the lease
Plant & machinery-25% reducing balance
Fixtures & fittings-25% reducing balance
Office equipment-25% reducing balance

Impairment policy
At each balance sheet date, the company reviews the carrying amount of its assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any.

Stocks
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sale to complete).

Financial instruments
Financial assets, liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

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.


VERVACITY LIMITED (REGISTERED NUMBER: 05779663)

Notes to the Financial Statements - continued
for the year ended 30 June 2024

2. ACCOUNTING POLICIES - continued
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.

Foreign currencies
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Government assistance
Included in bank loans is a bounce back loan which is guaranteed by the government. As part of the bounce back loan scheme the government paid the first year of interest on the loan.

Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Creditors
Short term creditors are measured at transaction price (which is usally the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2023 - 26 ) .

VERVACITY LIMITED (REGISTERED NUMBER: 05779663)

Notes to the Financial Statements - continued
for the year ended 30 June 2024

4. TANGIBLE FIXED ASSETS
Short Plant and Office
leasehold machinery equipment Totals
£    £    £    £   
COST
At 1 July 2023 191,777 64,677 72,936 329,390
Disposals - (7,781 ) (4,305 ) (12,086 )
At 30 June 2024 191,777 56,896 68,631 317,304
DEPRECIATION
At 1 July 2023 179,381 57,080 22,387 258,848
Charge for year 10,644 797 11,855 23,296
Eliminated on disposal - (3,373 ) (1,172 ) (4,545 )
At 30 June 2024 190,025 54,504 33,070 277,599
NET BOOK VALUE
At 30 June 2024 1,752 2,392 35,561 39,705
At 30 June 2023 12,396 7,597 50,549 70,542

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 9,668 3,072
Other debtors 46,401 15,322
56,069 18,394

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 7,188 -
Trade creditors 19,679 -
Taxation and social security 22,744 72,391
Other creditors 299,669 269,174
349,280 341,565

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 6,750 20,948

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 7,544 16,397

VERVACITY LIMITED (REGISTERED NUMBER: 05779663)

Notes to the Financial Statements - continued
for the year ended 30 June 2024

8. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 July 2023 16,397
Accelerated capital allowances (8,853 )
Balance at 30 June 2024 7,544

9. GOING CONCERN

The directors have agreed to support the company as necessary in the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.