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REGISTERED NUMBER: 11972058 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 May 2024

for

V P NETWORKING LTD

V P NETWORKING LTD (REGISTERED NUMBER: 11972058)

Contents of the Financial Statements
for the year ended 31 May 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


V P NETWORKING LTD

Company Information
for the year ended 31 May 2024







Director: Mr P Tuckey





Registered office: New Derwent House
69-73 Theobalds Road
London
WC1X 8TA





Registered number: 11972058 (England and Wales)





Accountants: Cooper Parry Advisory Limited
New Derwent House
69-73 Theobalds Road
London
WC1X 8TA

V P NETWORKING LTD (REGISTERED NUMBER: 11972058)

Statement of Financial Position
31 May 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 4 6,111 8,147

Current assets
Debtors 5 21,445 18,813
Cash at bank 49,508 21,429
70,953 40,242
Creditors
Amounts falling due within one year 6 76,677 48,007
Net current liabilities (5,724 ) (7,765 )
Total assets less current liabilities 387 382

Capital and reserves
Called up share capital 8 1 1
Retained earnings 386 381
Shareholders' funds 387 382

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 2 March 2025 and were signed by:





Mr P Tuckey - Director


V P NETWORKING LTD (REGISTERED NUMBER: 11972058)

Notes to the Financial Statements
for the year ended 31 May 2024


1. Statutory information

V P Networking Ltd 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 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 each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


V P NETWORKING LTD (REGISTERED NUMBER: 11972058)

Notes to the Financial Statements - continued
for the year ended 31 May 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 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.

3. Employees and directors

The average number of employees during the year was 1 (2023 - 1 ) .

4. Tangible fixed assets
Fixtures
and Computer
fittings equipment Totals
£    £    £   
Cost
At 1 June 2023
and 31 May 2024 4,149 10,083 14,232
Depreciation
At 1 June 2023 1,892 4,193 6,085
Charge for year 564 1,472 2,036
At 31 May 2024 2,456 5,665 8,121
Net book value
At 31 May 2024 1,693 4,418 6,111
At 31 May 2023 2,257 5,890 8,147

5. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 12,302 14,788
Other debtors 9,143 4,025
21,445 18,813

6. Creditors: amounts falling due within one year
2024 2023
£    £   
Trade creditors 769 151
Taxation and social security 74,408 46,356
Other creditors 1,500 1,500
76,677 48,007

V P NETWORKING LTD (REGISTERED NUMBER: 11972058)

Notes to the Financial Statements - continued
for the year ended 31 May 2024


7. Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 3,812 -
Between one and five years 6,036 -
9,848 -

8. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 Ordinary £1 1 1

9. Director's advances, credits and guarantees

The following advances and credits to a director subsisted during the years ended 31 May 2024 and 31 May 2023:

2024 2023
£    £   
Mr P Tuckey
Balance outstanding at start of year (4,025 ) (6,970 )
Amounts advanced 312 90,937
Amounts repaid (5,430 ) (87,992 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (9,143 ) (4,025 )