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Registered number: 06656672












VORIANA CAPITAL SERVICES LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

 

VORIANA CAPITAL SERVICES LIMITED
 
COMPANY INFORMATION


Director
M E Pissioti 




Company secretary
M E Pissioti



Registered number
06656672



Registered office
Heathcoat House
20 Savile Row

London

W1S 3PR




Independent auditor
Blick Rothenberg Audit LLP
Chartered Accountants & Statutory Auditor

16 Great Queen Street

Covent Garden

London

WC2B 5AH





 

VORIANA CAPITAL SERVICES LIMITED
 
GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2024

Introduction
 
The principal activity of the company is to provide support services to its subsidiary, Voriana Capital Partners LLP (the "LLP"), of which the company is the managing member. The LLP is incorporated in England & Wales and its principal activity is the provision of administrative services to VGO Capital Partners LLP, an entity incorporated in England & Wales. The LLP is authorised and regulated by the Financial Conduct Authority ("FCA").

Business review
 
The revenue and expenses have been as expected throughout the year and profits are consistent with previous years. 
For the forthcoming financial year to 31 March 2025, the directors intend to continue to develop the business and are looking into various opportunities.

Principal risks and uncertainties
 
The Group recognises that risk analysis and management are crucial to enhancing its performance. The Group’s approach is aimed at early identification and analysis of potential risks, mitigating identified risks wherever possible, and responding quickly and effectively where risks materialise.

Financial key performance indicators
 
The company’s directors are of the opinion, given the straightforward nature of the business, that analysis using KPIs is not necessary for an understanding of the development, performance or position of the business.

Director's statement of compliance with duty to promote the success of the Group
 
The director is aware of her duties under section 172 of the Companies Act 2006 to act in the way which she considers, in good faith, would be most likely to promote the success of the company for the benefit of its members as a whole, and in doing so to have regard (amongst other matters) to:
(a) the likely consequences of any decision in the long term;
(b) the interests of the company’s employees;
(c) the need to foster the company’s business relationships with suppliers, clients and others;
(d) the impact of the company’s operations on the community and the environment;
(e) the desirability of the company maintaining a reputation for high standards of business conduct; and
(f) the need to act fairly as between members of the company.
In carrying out her duties, the director seeks effective engagement with key stakeholders, including clients, employees and shareholders, and recognises the importance of their interests to the long term commercial success of the company, and the group.


This report was approved by the board on 29 April 2025 and signed on its behalf.



M E Pissioti
Director

Page 1

 

VORIANA CAPITAL SERVICES LIMITED

DIRECTOR'S REPORT
FOR THE YEAR ENDED 31 MARCH 2024

The director presents her report and the financial statements for the year ended 31 March 2024.

Director's responsibilities statement

The director is responsible for preparing the Group Strategic Report, the Director's Report and the consolidated financial statements in accordance with applicable law and regulations.
 
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the director must not approve the financial statements unless she is satisfied that they give a true and fair view of the state of affairs of the Company and the Group and of the profit or loss of the Group for that period.

 In preparing these financial statements, the director is required to:


select suitable accounting policies for the Group's financial statements and then apply them consistently;

make judgments and accounting estimates that are reasonable and prudent;

state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and the Group and to enable her to ensure that the financial statements comply with the Companies Act 2006She is also responsible for safeguarding the assets of the Company and the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Results and dividends

The profit for the year, after taxation and minority interests, amounted to £322 (2023 - £308).

The director has not recommended a dividend.

Director

The director who served during the year was M E Pissioti.


Disclosure of information to auditor

The director at the time when this Director's Report is approved has confirmed that:
 
so far as she is aware, there is no relevant audit information of which the Company and the Group's auditor is unaware, and

she has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company and the Group's auditor is aware of that information.

Auditor

The auditor, Blick Rothenberg Audit LLPwill be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

Page 2

 

VORIANA CAPITAL SERVICES LIMITED

DIRECTOR'S REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024

This report was approved by the board on 29 April 2025 and signed on its behalf.
 





M E Pissioti
Director

Page 3

 

VORIANA CAPITAL SERVICES LIMITED

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF VORIANA CAPITAL SERVICES LIMITED
 FOR THE YEAR ENDED 31 MARCH 2024

Opinion


We have audited the financial statements of Voriana Capital Services Limited (the 'parent Company') and its subsidiaries (the 'Group') for the year ended 31 March 2024, which comprise the Consolidated Statement of Comprehensive Income, the Consolidated Balance Sheet, the Company Balance Sheet, the Consolidated Statement of Cash Flows, the Consolidated Statement of Changes in Equity, the Company Statement of Changes in Equity and the related notes, including a summary of significant accounting policiesThe financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).


In our opinion the financial statements:


give a true and fair view of the state of the Group's and of the parent Company's affairs as at 31 March 2024 and of the Group's profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.


Basis for opinion


We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.


Conclusions relating to going concern


In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.


Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's or the parent Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.


Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.


Page 4

 

VORIANA CAPITAL SERVICES LIMITED

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF VORIANA CAPITAL SERVICES LIMITED (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024

Other information


The other information comprises the information included in the Annual Report other than the financial statements and our Auditor's Report thereon. The director is responsible for the other information contained within the Annual ReportOur opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.


We have nothing to report in this regard.


Opinion on other matters prescribed by the Companies Act 2006
 

In our opinion, based on the work undertaken in the course of the audit:


the information given in the Group Strategic Report and the Director's Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Group Strategic Report and the Director's Report have been prepared in accordance with applicable legal requirements.


Matters on which we are required to report by exception
 

In the light of the knowledge and understanding of the Group and the parent Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Director's Report.


We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:


adequate accounting records have not been kept by the parent Company, or returns adequate for our audit have not been received from branches not visited by us; or
the parent Company financial statements are not in agreement with the accounting records and returns; or
certain disclosures of director's remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.


Responsibilities of directors
 

As explained more fully in the Director's Responsibilities Statement set out on page 2, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.


In preparing the financial statements, the director is responsible for assessing the Group's and the parent Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the Group or the parent Company or to cease operations, or have no realistic alternative but to do so.


Page 5

 

VORIANA CAPITAL SERVICES LIMITED

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF VORIANA CAPITAL SERVICES LIMITED (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024

Auditor's responsibilities for the audit of the financial statements
 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor's Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these Group financial statements.


Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud, and noncompliance with laws and regulations, our procedures included the following: enquiring of management concerning the Company’s policies with regards to identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance; enquiring of management concerning the Company’s policies for detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud; enquiring of management concerning the Company’s policies in relation to the internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations; discussing among the engagement team where fraud might occur in the financial statements and any potential indicators of fraud; and obtaining an understanding of the legal and regulatory framework that the Company operates in and focusing on those laws and regulations that had a direct effect on the financial statements or that had a fundamental effect on the operations of the Company. The key laws and regulations we considered in this context included the UK Companies Act 2006 and applicable tax legislation.
A particular focus area was the risk of fraud through management override of controls. Our procedures to respond to risks identified included the following: performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud; reviewing the bank statements of the Company for evidence of any large or unusual activity which may be indicative of fraud; enquiring of management in relation to any potential litigation and claims; and testing the appropriateness of journal entries and other adjustments.
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations
to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if
any.
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they
may involve deliberate concealment or collusion.


A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditor's Report.


Page 6

 

VORIANA CAPITAL SERVICES LIMITED

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF VORIANA CAPITAL SERVICES LIMITED (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024

Use of our report
 

This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditor's Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.





Onisiforos Chourres (Senior Statutory Auditor)
for and on behalf of
Blick Rothenberg Audit LLP
Chartered Accountants
Statutory Auditor
16 Great Queen Street
Covent Garden
London
WC2B 5AH

29 April 2025
Page 7

 

VORIANA CAPITAL SERVICES LIMITED
 
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MARCH 2024

2024
2023
Note
£
£

  

Turnover
  
955,919
570,300

Administrative expenses
  
(738,999)
(361,902)

Operating profit
  
216,920
208,398

Tax on profit
  
(75)
(168)

Profit for the financial year
  
216,845
208,230

Profit for the year attributable to:
  

Non-controlling interests
  
216,523
207,922

Owners of the parent Company
  
322
308

  
216,845
208,230

There was no other comprehensive income for 2024 (2023:£NIL).

The notes on pages 14 to 21 form part of these financial statements.

Page 8


 
REGISTERED NUMBER:06656672
VORIANA CAPITAL SERVICES LIMITED

CONSOLIDATED BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible fixed assets
 7 
890
686

Current assets
  

Debtors: amounts falling due within one year
 9 
291,912
54,819

Cash at bank and in hand
  
64,757
181,042

  
356,669
235,861

Creditors: amounts falling due within one year
 10 
(148,262)
(34,095)

Net current assets
  
 
 
208,407
 
 
201,766

Total assets less current liabilities
  
209,297
202,452

Creditors: amounts falling due after more than one year
 11 
(27,397)
(27,397)

Net assets
  
181,900
175,055


Capital and reserves
  

Called up share capital 
 12 
100
100

Share premium account
  
104,900
104,900

Profit and loss account
  
52,455
52,133

Equity attributable to owners of the parent Company
  
157,455
157,133

Non-controlling interests
  
24,445
17,922

  
181,900
175,055


The financial statements were approved and authorised for issue by the board and were signed on its behalf on 29 April 2025.




M E Pissioti
Director

The notes on pages 14 to 21 form part of these financial statements.

Page 9


 
REGISTERED NUMBER:06656672
VORIANA CAPITAL SERVICES LIMITED

COMPANY BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible fixed assets
 7 
890
686

Investments
 8 
60,000
60,000

  
60,890
60,686

Current assets
  

Debtors: amounts falling due within one year
 9 
121,096
54,819

Cash at bank and in hand
  
10,650
101,348

  
131,746
156,167

Creditors: amounts falling due within one year
 10 
(7,784)
(32,323)

Net current assets
  
 
 
123,962
 
 
123,844

Total assets less current liabilities
  
184,852
184,530

  

Creditors: amounts falling due after more than one year
 11 
(27,397)
(27,397)

  

Net assets
  
157,455
157,133


Capital and reserves
  

Called up share capital 
 12 
100
100

Share premium account
  
104,900
104,900

Profit and loss account brought forward
  
52,133
51,825

Profit for the year

  

322
308

Profit and loss account carried forward
  
52,455
52,133

  
157,455
157,133


The financial statements were approved and authorised for issue by the board and were signed on its behalf on 29 April 2025.


M E Pissioti
Director

The notes on pages 14 to 21 form part of these financial statements.

Page 10

VORIANA CAPITAL SERVICES LIMITED


 
  
 

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024



Called up share capital
Share premium account
Profit and loss account
Equity attributable to owners of parent Company
Non-controlling interests
Total equity


£
£
£
£
£
£



At 1 April 2022
100
104,900
51,825
156,825
20,199
177,024





Profit for the year
-
-
308
308
207,922
208,230


Payment to non-controlling interest
-
-
-
-
(210,199)
(210,199)





At 1 April 2023
100
104,900
52,133
157,133
17,922
175,055





Profit for the year
-
-
322
322
216,523
216,845


Payment to non-
controlling interest
-
-
-
-
(210,000)
(210,000)



At 31 March 2024
100
104,900
52,455
157,455
24,445
181,900



The notes on pages 14 to 21 form part of these financial statements.

Page 11
 

VORIANA CAPITAL SERVICES LIMITED

COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024


Called up share capital
Share premium account
Profit and loss account
Total equity

£
£
£
£


At 1 April 2022
100
104,900
51,825
156,825



Profit for the year
-
-
308
308



At 1 April 2023
100
104,900
52,133
157,133



Profit for the year
-
-
322
322


At 31 March 2024
100
104,900
52,455
157,455


The notes on pages 14 to 21 form part of these financial statements.

Page 12

 

VORIANA CAPITAL SERVICES LIMITED

CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2024

2024
2023
£
£

Cash flows from operating activities

Profit for the financial year
216,845
208,230

Adjustments for:

Depreciation of tangible assets
970
1,644

Taxation charge
75
168

(Increase)/decrease in debtors
(237,093)
61,250

Increase/(decrease) in creditors
114,182
(32,820)

Corporation tax (paid)
(90)
(78)

Payments to non controlling interests
(210,000)
(210,199)

Net cash generated from operating activities

(115,111)
28,195


Cash flows from investing activities

Purchase of tangible fixed assets
(1,174)
-

Net cash from investing activities

(1,174)
-

Cash flows from financing activities

Repayment of other loans
-
(9,227)

Net cash used in financing activities
-
(9,227)

Net (decrease)/increase in cash and cash equivalents
(116,285)
18,968

Cash and cash equivalents at beginning of year
181,042
162,074

Cash and cash equivalents at the end of year
64,757
181,042


Cash and cash equivalents at the end of year comprise:

Cash at bank and in hand
64,757
181,042


Page 13

 

VORIANA CAPITAL SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Voriana Capital Services Limited is a limited company incorporated in England and Wales.
The Company's registered address is Heathcoat House, 20 Savile Row, London, W1S 3PR.

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

Due to the straight forward nature of the business, no critical judgements have been made in applying the Company's accounting policies. There are no key accounting estimates or assumptions made that have a significant risk of causing material adjustment to the carrying amounts of assets and liabilities within the next financial year.

  
2.2

Basis of consolidation

The financial statements consolidate the accounts of Voriana Capital Services Limited and its subsidiary undertaking. 

 
2.3

Revenue

Revenue comprises fees for administrative services provided to an appointed representative of Voriana Capital Partners LLP. Fees and other income are recognised on an accruals basis and are shown exclusive of value added tax. All turnover is generated in the UK.  

 
2.4

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is pound 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.

 
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.

Page 14

 

VORIANA CAPITAL SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.5
Tangible fixed assets (continued)

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:

Leasehold improvements
-
over 5 years
Fixtures and fittings
-
over 3 years
Office equipment
-
over 3 years
Computer equipment
-
over 3 years

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.

 
2.6

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 and the Group operate and generate income.


 
2.7

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.8

Operating leases

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.9

Interest income

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

Page 15

 

VORIANA CAPITAL SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

3.


Turnover

The whole of the turnover is attributable to the group's principal activity.

All turnover arose within the United Kingdom.


4.


Operating profit

The operating profit is stated after charging:

2024
2023
£
£

Depreciation of tangible fixed assets
970
1,644

Auditors' remuneration - audit
10,700
8,750

Auditors' remuneration - non-audit
6,540
3,700

Other operating lease rentals
110,148
150,211


5.


Employees





The Group and Company have no employees other than the directors, who did not receive any remuneration (2023 - £NIL).


6.


Taxation


2024
2023
£
£

Corporation tax


Current tax on profits for the year
75
90

Adjustments in respect of previous periods
-
78


75
168


Total current tax
75
168

Deferred tax

Total deferred tax
-
-


Tax on profit
75
168
Page 16

 

VORIANA CAPITAL SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
 
6.Taxation (continued)


Factors affecting tax charge for the year

The tax assessed for the year is lower than (2023 - lower than) the standard rate of corporation tax in the UK of 19% (2023 - 19%). The differences are explained below:

2024
2023
£
£


Profit on ordinary activities before tax
216,920
208,398


Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 19% (2023 - 19%)
41,215
39,596

Effects of:


Profits attributable to non-controlling interests
(41,140)
(39,506)

Adjustments to tax charge in respect of prior periods
-
78

Total tax charge for the year
75
168


Factors that may affect future tax charges

There were no factors that may affect future tax charges.

Page 17

 

VORIANA CAPITAL SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Tangible fixed assets

Group and Company






Leasehold improvements
Fixtures and fittings
Office equipment
Computer equipment
Total

£
£
£
£
£



Cost 


At 1 April 2023
58,811
54,486
12,414
91,626
217,337


Additions
-
1,174
-
-
1,174



At 31 March 2024

58,811
55,660
12,414
91,626
218,511



Depreciation


At 1 April 2023
58,498
54,486
12,414
91,253
216,651


Charge for the year on owned assets
313
326
-
331
970



At 31 March 2024

58,811
54,812
12,414
91,584
217,621



Net book value



At 31 March 2024
-
848
-
42
890



At 31 March 2023
313
-
-
373
686

Page 18

 

VORIANA CAPITAL SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


Fixed asset investments

Company





Unlisted Investments

£



Cost or valuation


At 1 April 2023
60,000



At 31 March 2024
60,000




The company is the managing member of Voriana Capital Partners LLP, a partnership incorporated in England and Wales, and holds a majority of both the capital interest and the voting rights in the partnership. The principal activity of the LLP is the provision of administrative services.



9.


Debtors

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£


Trade debtors
80,580
-
-
-

Amounts owed by group undertakings
-
-
14,472
-

Other debtors
153,030
44,840
48,322
44,840

Prepayments and accrued income
58,302
9,979
58,302
9,979

291,912
54,819
121,096
54,819


Other debtors includes an amount of £44,781 (2023: £44,781) due after more than one year.


10.


Creditors: Amounts falling due within one year

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Trade creditors
137,478
10,156
-
10,156

Amounts owed to group undertakings
-
-
-
10,928

Corporation tax
75
90
75
90

Other taxation and social security
-
9,997
-
297

Accruals and deferred income
10,709
13,852
7,709
10,852

148,262
34,095
7,784
32,323


Page 19

 

VORIANA CAPITAL SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

11.


Creditors: Amounts falling due after more than one year

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Other loans
27,397
27,397
27,397
27,397

27,397
27,397
27,397
27,397





12.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1.00 each
100
100



13.


Commitments under operating leases

At 31 March 2024 the Group and the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:


Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Not later than 1 year
80,876
110,148
80,876
110,148

Later than 1 year and not later than 5 years
-
80,876
-
80,876

80,876
191,024
80,876
191,024

14.


Analysis of net debt




At 1 April 2023
Cash flows
At 31 March 2024
£

£

£

Cash at bank and in hand

181,042

(116,285)

64,757

Debt due after 1 year

(27,397)

-

(27,397)


153,645
(116,285)
37,360

Page 20

 

VORIANA CAPITAL SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

15.


Related party transactions

As at 31 March 2024 the group has a loan of £27,397 (2023: 27,397) from Voriana Capital Management Ltd ('VCM Ltd'), the parent company which is incorporated in the Cayman Islands. The loan does not attract interest and has no fixed repayment date, however the company has received written assurances from VCM Ltd that the remaining balance of £27,397 will not be recalled within 12 months of the balance sheet date.
During the year the company recharged expenses to Voriana Capital Partners LLP totalling £182,000 (2023: £175,000). The total amount outstanding at the year end in respect of these transactions was £14,472 (2023: £10,928).
During the year the group charged £220,000 (2023: £184,300) to VGO Capital Partners LLP, an entity with some key management personnel in common, in relation to administrative services provided. At the year end, £nil (2023: £nil) was outstanding in respect of this.


16.


Controlling party

The company's immediate parent is Voriana Capital Management Ltd, a company incorporated in the Cayman Islands. The directors do not consider there to be an ultimate controlling party.


17.


Parent company profit for the year

The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of Comprehensive Income in these financial statements. The profit after tax of the parent Company for the year was £322 (2023 - £308).

Page 21