Caseware UK (AP4) 2024.0.164 2024.0.164 2024-07-312024-07-312023-08-01falseNo description of principal activity11falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 12107929 2023-08-01 2024-07-31 12107929 2022-08-01 2023-07-31 12107929 2024-07-31 12107929 2023-07-31 12107929 c:Director1 2023-08-01 2024-07-31 12107929 d:ComputerEquipment 2023-08-01 2024-07-31 12107929 d:ComputerEquipment 2024-07-31 12107929 d:ComputerEquipment 2023-07-31 12107929 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 12107929 d:CurrentFinancialInstruments 2024-07-31 12107929 d:CurrentFinancialInstruments 2023-07-31 12107929 d:CurrentFinancialInstruments d:WithinOneYear 2024-07-31 12107929 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 12107929 d:ShareCapital 2024-07-31 12107929 d:ShareCapital 2023-07-31 12107929 d:RetainedEarningsAccumulatedLosses 2024-07-31 12107929 d:RetainedEarningsAccumulatedLosses 2023-07-31 12107929 c:FRS102 2023-08-01 2024-07-31 12107929 c:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 12107929 c:FullAccounts 2023-08-01 2024-07-31 12107929 c:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 12107929 e:PoundSterling 2023-08-01 2024-07-31 iso4217:GBP xbrli:pure

Registered number: 12107929









VEDA RESEARCH LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2024

 
VEDA RESEARCH LIMITED
REGISTERED NUMBER: 12107929

BALANCE SHEET
AS AT 31 JULY 2024

2024
2023 (restated)
Note
£
£

Fixed assets
  

Tangible assets
 3 
642
-

  
642
-

Current assets
  

Debtors: amounts falling due within one year
 4 
266,412
78,973

Cash at bank and in hand
 5 
67,388
14,068

  
333,800
93,041

Creditors: amounts falling due within one year
 6 
(79,928)
(18,531)

Net current assets
  
 
 
253,872
 
 
74,510

Total assets less current liabilities
  
254,514
74,510

  

Net assets
  
254,514
74,510


Capital and reserves
  

Called up share capital 
  
50,000
50,000

Profit and loss account
  
204,514
24,510

  
254,514
74,510


The director considers 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 director acknowledges his 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 on 15 April 2025.


Page 1

 
VEDA RESEARCH LIMITED
REGISTERED NUMBER: 12107929
    
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2024



H. F. Wu
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
VEDA RESEARCH LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1.


General information

Veda Research Limited is a private company, limited by shares, incorporated in the United Kingdom and
registered in England and Wales (Registered number: 12107929). The registered office is 101 New
Cavendish Street,1st Floor South, London, W1W 6XH.

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

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

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'.

Page 3

 
VEDA RESEARCH LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

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.


 
2.5

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:

Computer equipment
-
25%

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.

Page 4

 
VEDA RESEARCH LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.6

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.

 
2.7

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.

 
2.8

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.


3.


Tangible fixed assets





Computer equipment

£



Cost or valuation


Additions
833



At 31 July 2024

833



Depreciation


Charge for the year on owned assets
191



At 31 July 2024

191



Net book value



At 31 July 2024
642



At 31 July 2023
-

Page 5

 
VEDA RESEARCH LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

4.


Debtors

2024
2023 (restated)
£
£


Trade debtors
3,111
-

Amounts owed by related parties
81,148
28,973

Other debtors
121,923
-

Called up share capital not paid
50,000
50,000

Prepayments and accrued income
10,230
-

266,412
78,973



5.


Cash and cash equivalents

2024
2023 (restated)
£
£

Cash at bank and in hand
67,388
14,068

67,388
14,068



6.


Creditors: Amounts falling due within one year

2024
2023 (restated)
£
£

Trade creditors
4,890
-

Corporation tax
61,283
5,749

Other creditors
8,755
128

Accruals and deferred income
5,000
12,654

79,928
18,531


Page 6

 
VEDA RESEARCH LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

7.


Prior year adjustment

The prior year accounts were submitted before the company could be registered for corporation tax. As such the corporation tax for the year ended 31 July 2023 was not included within the signed accounts.


2023 (restated)
£

Effect on profit/(loss)


Profit/(loss) per the prior year signed accounts
30,259

Effect of restatement
(5,749)

Restated profit/(loss)
24,510

Effect on retained earnings/(deficit)


Retained earnings per the prior year signed accounts
30,259

Effect of restatement
(5,749)

Restated retained earnings
24,510

 
Page 7