Caseware UK (AP4) 2023.0.135 2023.0.135 The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-08-01falsetrueNo description of principal activity21truefalse 13907857 2023-08-01 2024-07-31 13907857 2022-08-01 2023-07-31 13907857 2024-07-31 13907857 2023-07-31 13907857 c:Director1 2023-08-01 2024-07-31 13907857 d:MotorVehicles 2023-08-01 2024-07-31 13907857 d:MotorVehicles 2024-07-31 13907857 d:MotorVehicles 2023-07-31 13907857 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-08-01 2024-07-31 13907857 d:CurrentFinancialInstruments 2024-07-31 13907857 d:CurrentFinancialInstruments 2023-07-31 13907857 d:Non-currentFinancialInstruments 2024-07-31 13907857 d:Non-currentFinancialInstruments 2023-07-31 13907857 d:CurrentFinancialInstruments d:WithinOneYear 2024-07-31 13907857 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 13907857 d:Non-currentFinancialInstruments d:AfterOneYear 2024-07-31 13907857 d:Non-currentFinancialInstruments d:AfterOneYear 2023-07-31 13907857 d:ShareCapital 2024-07-31 13907857 d:ShareCapital 2023-07-31 13907857 d:RetainedEarningsAccumulatedLosses 2024-07-31 13907857 d:RetainedEarningsAccumulatedLosses 2023-07-31 13907857 c:FRS102 2023-08-01 2024-07-31 13907857 c:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 13907857 c:FullAccounts 2023-08-01 2024-07-31 13907857 c:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 13907857 2 2023-08-01 2024-07-31 13907857 e:PoundSterling 2023-08-01 2024-07-31 iso4217:GBP xbrli:pure

Registered number: 13907857









VERITY (WOODEND) LTD







Unaudited

Financial statements

Information for filing with the registrar

For the year ended 31 July 2024

 
VERITY (WOODEND) LTD
 
 
  
Chartered Accountants' Report to the Board of Directors on the preparation of the Unaudited Statutory Financial Statements of Verity (Woodend) Ltd for the year ended 31 July 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 Verity (Woodend) Ltd for the year ended 31 July 2024 which comprise  the Balance sheet 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 Board of directors of Verity (Woodend) Ltd, as a body, in accordance with the terms of our engagement letter dated 22 July 2024Our work has been undertaken solely to prepare for your approval the financial statements of Verity (Woodend) Ltd and state those matters that we have agreed to state to the Board of directors of Verity (Woodend) Ltd, as a body, 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 Verity (Woodend) Ltd and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that Verity (Woodend) 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 Verity (Woodend) Ltd. You consider that Verity (Woodend) 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 Verity (Woodend) 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.

  

WR Partners
 
Chartered Accountants
  
Belmont House
Shrewsbury Business Park
Shrewsbury
Shropshire
SY2 6LG
3 April 2025

 
VERITY (WOODEND) LTD
Registered number: 13907857

Balance Sheet
As at 31 July 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
27,360
33,366

  
27,360
33,366

Current assets
  

Debtors: amounts falling due within one year
 5 
44,403
41,975

Cash at bank and in hand
 6 
41,020
36,461

  
85,423
78,436

Creditors: amounts falling due within one year
 7 
(49,276)
(62,316)

Net current assets
  
 
 
36,147
 
 
16,120

Total assets less current liabilities
  
63,507
49,486

Creditors: amounts falling due after more than one year
  
-
(6,555)

  

Net assets
  
63,507
42,931


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
63,407
42,831

Total equity
  
63,507
42,931



 
VERITY (WOODEND) LTD
Registered number: 13907857
    
Balance Sheet (continued)
As at 31 July 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 profit and loss account 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 3 April 2025.


................................................
Michael William Verity
Director

The notes on  form part of these financial statements.

 
VERITY (WOODEND) LTD
 
 
 
Notes to the Financial Statements
For the year ended 31 July 2024

1.


General information

Verity (Woodend) Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Belmont House, Shrewsbury Business Park, Shrewsbury, Shropshire, SY2 6LG.

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

Going concern

The Director has reviewed all the available information relating to trade levels to date and anticipated future performance. The Director supports the ongoing future trade of the company and so has adopted the going concern basis.

 
2.3

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.

 
2.4

Interest income

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


 
VERITY (WOODEND) LTD
 
 
 
Notes to the Financial Statements
For the year ended 31 July 2024

2.Accounting policies (continued)

 
2.5

Taxation

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 balance sheet 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 balance sheet 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 balance sheet date.


 
2.6

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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Motor vehicles
-
18%
on a straight line basis

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.


 
VERITY (WOODEND) LTD
 
 
 
Notes to the Financial Statements
For the year ended 31 July 2024

2.Accounting policies (continued)

 
2.7

Work in progress

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.8

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.

 
2.9

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.

 
2.10

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.

 
2.11

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 1).


 
VERITY (WOODEND) LTD
 
 
 
Notes to the Financial Statements
For the year ended 31 July 2024

4.


Tangible fixed assets





Motor vehicles

£



Cost or valuation


At 1 August 2023
40,690



At 31 July 2024

40,690



Depreciation


At 1 August 2023
7,324


Charge for the year on financed assets
6,006



At 31 July 2024

13,330



Net book value



At 31 July 2024
27,360



At 31 July 2023
33,366


5.


Debtors

2024
2023
£
£


Trade debtors
5,620
11,145

Other debtors
36,957
29,238

Prepayments and accrued income
1,826
1,592

44,403
41,975



6.


Cash at bank

2024
2023
£
£

Cash at bank and in hand
41,020
36,461

41,020
36,461



 
VERITY (WOODEND) LTD
 
 
 
Notes to the Financial Statements
For the year ended 31 July 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
1,675
-

Corporation tax
12,051
18,363

Obligations under finance lease and hire purchase contracts
-
2,984

Other creditors
34,550
39,280

Accruals and deferred income
1,000
1,689

49,276
62,316



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Net obligations under finance leases and hire purchase contracts
-
6,555

-
6,555



9.


Transactions with directors

The directors were owed a balance of £34,550 (2023: £39,280) by the company at the date of the balance sheet. This amount is interest free and repayable on demand.