Registration number:
Verfides
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Brebners
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Verfides
Contents
Company Information |
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Abridged Statement of Financial Position |
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Notes to the Abridged Financial Statements |
Verfides
Company Information
Directors |
C Borea R Vacri M Marano T Pay |
Registered office |
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Auditors |
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Verfides
Abridged Statement of Financial Position as at 31 December 2024
Note |
2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Investments |
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Current assets |
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Cash at bank and in hand |
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Trade debtors |
211,184 |
188,983 |
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Gross amount due from customers for contract work |
296,837 |
273,283 |
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Prepayments |
153,938 |
151,708 |
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Other debtors |
19,002 |
7,272 |
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Creditors: Amounts falling due within one year |
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Trade creditors |
(69,924) |
(27,230) |
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Taxation and social security |
(216,387) |
(277,866) |
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Other creditors |
(91,180) |
(64,665) |
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( |
( |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
60,000 |
60,000 |
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Profit and loss account |
1,455,569 |
1,568,854 |
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Shareholders' funds |
1,515,569 |
1,628,854 |
Verfides
Abridged Statement of Financial Position as at 31 December 2024
All of the company’s members have consented to the preparation of an Abridged Statement of Financial Position in accordance with Section 444(2A) of the Companies Act 2006.
Company registration number: 00962596
Approved and authorised by the
.........................................
M Marano
Director
Verfides
Notes to the Abridged Financial Statements for the Year Ended 31 December 2024
General information |
The company is a private unlimited company, incorporated in England & Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
The principal activity of the company is the provision of fiduciary, business management, accounting and tax services.
Audit Report |
Accounting Policies required for amounts due under contract |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
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' Section 1A and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.
Going concern
The company had net assets at 31 December 2024 amounting to £1,516,201 including cash at bank of £1,204,152.
Having made sufficient enquiries the directors have a reasonable expectation that the company has adequate resources to continue operating for the foreseeable future. Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.
Exemption from preparing group accounts
The company has claimed exemption from preparing consolidated accounts under section 399 of the small companies regime within Part 15 of the Companies Act 2006.
Verfides
Notes to the Abridged Financial Statements for the Year Ended 31 December 2024
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company's activities. Turnover is shown net of sales/value added tax, rebates and discounts.
The company recognises turnover based upon the stage of completion of services being provided.
Foreign currency transactions and balances
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
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 taxable income.
Deferred taxation is provided to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Leasehold improvements |
20% straight line |
Computer software |
20% straight line |
Furniture, fittings and equipment |
Between 20% and 33% straight line |
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Verfides
Notes to the Abridged Financial Statements for the Year Ended 31 December 2024
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Verfides
Notes to the Abridged Financial Statements for the Year Ended 31 December 2024
Tangible assets |
Leasehold improvements |
Furniture, fittings and equipment |
Computer software |
Total |
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Cost or valuation |
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At 1 January 2024 |
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Disposals |
- |
( |
- |
( |
At 31 December 2024 |
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Depreciation |
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At 1 January 2024 |
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Charge for the year |
- |
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- |
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Eliminated on disposal |
- |
( |
- |
( |
At 31 December 2024 |
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Carrying amount |
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At 31 December 2024 |
- |
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- |
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At 31 December 2023 |
- |
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- |
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Financial commitments |
The total amount of financial commitments not included in the statement of financial position is £