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REGISTERED NUMBER: 09413493 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Veritas Point Ltd

Veritas Point Ltd (Registered number: 09413493)






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


Veritas Point Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTORS: J Sarwar
Mrs N Khan





REGISTERED OFFICE: c/o Cartwrights
Regency House
33 Wood Street
Barnet
Hertfordshire
EN5 4BE





REGISTERED NUMBER: 09413493 (England and Wales)





ACCOUNTANTS: Cartwrights
Chartered Accountants and Business Advisors
Regency House
33 Wood Street
Barnet
Hertfordshire
EN5 4BE

Veritas Point Ltd (Registered number: 09413493)

Balance Sheet
31 March 2024

31/3/24 31/3/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 93,619 98,050

CURRENT ASSETS
Stocks 13,150 12,968
Debtors 5 28,153 24,741
Cash at bank and in hand 61,148 75,000
102,451 112,709
CREDITORS
Amounts falling due within one year 6 148,092 98,735
NET CURRENT (LIABILITIES)/ASSETS (45,641 ) 13,974
TOTAL ASSETS LESS CURRENT
LIABILITIES

47,978

112,024

CREDITORS
Amounts falling due after more than one year 7 15,000 25,000
NET ASSETS 32,978 87,024

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 32,878 86,924
32,978 87,024

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.

Veritas Point Ltd (Registered number: 09413493)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 March 2025 and were signed on its behalf by:





J Sarwar - Director


Veritas Point Ltd (Registered number: 09413493)

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

1. STATUTORY INFORMATION

Veritas Point 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.

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.
Land and buildings - Over term of the lease
Plant and machinery etc - 33% on cost, 10% on cost and Straight line over 5 years

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 25 ) .

Veritas Point Ltd (Registered number: 09413493)

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

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2023 6,195 136,827 143,022
Additions - 10,991 10,991
At 31 March 2024 6,195 147,818 154,013
DEPRECIATION
At 1 April 2023 2,678 42,294 44,972
Charge for year 619 14,803 15,422
At 31 March 2024 3,297 57,097 60,394
NET BOOK VALUE
At 31 March 2024 2,898 90,721 93,619
At 31 March 2023 3,517 94,533 98,050

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Other debtors 28,153 24,741

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 36,403 25,297
Taxation and social security 15,938 7,608
Other creditors 85,751 55,830
148,092 98,735

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/3/24 31/3/23
£    £   
Bank loans 15,000 25,000

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 15,000 25,000