Caseware UK (AP4) 2024.0.164 2024.0.164 2024-06-302024-06-30The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-07-01falsecorporate entertainment.43truetruefalse 08112909 2023-07-01 2024-06-30 08112909 2022-07-01 2023-06-30 08112909 2024-06-30 08112909 2023-06-30 08112909 c:Director1 2023-07-01 2024-06-30 08112909 d:PlantMachinery 2023-07-01 2024-06-30 08112909 d:PlantMachinery 2024-06-30 08112909 d:PlantMachinery 2023-06-30 08112909 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 08112909 d:OfficeEquipment 2023-07-01 2024-06-30 08112909 d:OfficeEquipment 2024-06-30 08112909 d:OfficeEquipment 2023-06-30 08112909 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 08112909 d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 08112909 d:Goodwill 2024-06-30 08112909 d:Goodwill 2023-06-30 08112909 d:CurrentFinancialInstruments 2024-06-30 08112909 d:CurrentFinancialInstruments 2023-06-30 08112909 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 08112909 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 08112909 d:ShareCapital 2024-06-30 08112909 d:ShareCapital 2023-06-30 08112909 d:RetainedEarningsAccumulatedLosses 2024-06-30 08112909 d:RetainedEarningsAccumulatedLosses 2023-06-30 08112909 c:OrdinaryShareClass1 2023-07-01 2024-06-30 08112909 c:OrdinaryShareClass1 2024-06-30 08112909 c:FRS102 2023-07-01 2024-06-30 08112909 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 08112909 c:FullAccounts 2023-07-01 2024-06-30 08112909 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 08112909 d:AcceleratedTaxDepreciationDeferredTax 2024-06-30 08112909 d:AcceleratedTaxDepreciationDeferredTax 2023-06-30 08112909 d:TaxLossesCarry-forwardsDeferredTax 2024-06-30 08112909 d:TaxLossesCarry-forwardsDeferredTax 2023-06-30 08112909 2 2023-07-01 2024-06-30 08112909 6 2023-07-01 2024-06-30 08112909 e:PoundSterling 2023-07-01 2024-06-30 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 08112909














VERBAL SOLUTIONS LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

 
VERBAL SOLUTIONS LIMITED
 

CONTENTS



Page
Statement of Financial Position
 
1 - 2
Notes to the Financial Statements
 
3 - 9


 
VERBAL SOLUTIONS LIMITED
REGISTERED NUMBER:08112909

STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
55,453
60,750

Investments
 6 
208,637
185,526

  
264,090
246,276

Current assets
  

Debtors: amounts falling due within one year
 7 
551,432
680,301

Cash at bank and in hand
  
1,290,605
1,011,174

  
1,842,037
1,691,475

Creditors: amounts falling due within one year
 8 
(662,507)
(460,330)

Net current assets
  
 
 
1,179,530
 
 
1,231,145

Total assets less current liabilities
  
1,443,620
1,477,421

Provisions for liabilities
  

Deferred tax
 9 
(13,864)
(7,915)

Net assets
  
1,429,756
1,469,506


Capital and reserves
  

Called up share capital 
 10 
100
100

Profit and loss account
  
1,429,656
1,469,406

  
1,429,756
1,469,506


Page 1

 
VERBAL SOLUTIONS LIMITED
REGISTERED NUMBER:08112909
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 JUNE 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 comprehensive income 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 by: 




D Hornigold
Director

Date: 27 March 2025

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
VERBAL SOLUTIONS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

Verbal Solutions Limited is a limited liability company incorporated in England and Wales with its registered office at 2nd Floor Connaught House, 1-3 Mount Street, London, United Kingdom, W1K 3NB.
The principal activity of the company is that of corporate entertainment.

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 following principal accounting policies have been applied:

 
2.2

Turnover

Turnover comprises revenue recognised by the company in respect of services supplied during the period, exclusive of Value Added Tax and trade discounts.

 
2.3

Intangible assets

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of Comprehensive Income over its useful economic life.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
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 provided on the following basis:

Plant and machinery
-
25% reducing balance
Office equipment
-
25% reducing balance

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 the Statement of Comprehensive Income.

Page 3

 
VERBAL SOLUTIONS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.5

Valuation of investments

Investments held as fixed assets are shown at cost less provision for impairment.

 
2.6

Debtors

Short term debtors are measured at transaction price, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty.

 
2.8

Creditors

Short term creditors are measured at the transaction price.

 
2.9

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is £ sterling.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.10

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 4

 
VERBAL SOLUTIONS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.11

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.

 
2.12

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.13

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.



3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2023 - 3).

Page 5

 
VERBAL SOLUTIONS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

4.


Intangible assets




Goodwill

£



Cost


At 1 July 2023
90,000



At 30 June 2024

90,000



Amortisation


At 1 July 2023
90,000



At 30 June 2024

90,000



Net book value



At 30 June 2024
-



At 30 June 2023
-



Page 6

 
VERBAL SOLUTIONS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

5.


Tangible fixed assets





Plant and machinery
Office equipment
Total

£
£
£



Cost


At 1 July 2023
12,134
126,165
138,299


Additions
1,666
11,523
13,189



At 30 June 2024

13,800
137,688
151,488



Depreciation


At 1 July 2023
3,034
74,516
77,550


Charge for the year on owned assets
2,692
15,793
18,485



At 30 June 2024

5,726
90,309
96,035



Net book value



At 30 June 2024
8,074
47,379
55,453



At 30 June 2023
9,101
51,649
60,750


6.


Fixed asset investments





Listed investments

£



Cost or valuation


At 1 July 2023
185,526


Additions
698


Disposals
(1,364)


Revaluations
23,777



At 30 June 2024
208,637




Page 7

 
VERBAL SOLUTIONS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

7.


Debtors

2024
2023
£
£


Trade debtors
345,624
359,506

Other debtors
-
28,091

Prepayments and accrued income
205,808
292,704

551,432
680,301



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
112,326
10,540

Taxation and social security
366,691
266,725

Other creditors
1,495
100

Accruals and deferred income
181,995
182,965

662,507
460,330



9.


Deferred taxation




2024


£






At beginning of year
(7,914)


Charged to profit or loss
(5,951)



At end of year
(13,865)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(13,865)
(15,188)

Gain on revaluation of investments
-
7,274

(13,865)
(7,914)

Page 8

 
VERBAL SOLUTIONS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

10.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 Ordinary shares of £1 each
100
100


 
Page 9