| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 August 2024 |
| for |
| V I P Very Important People Ltd |
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 August 2024 |
| for |
| V I P Very Important People Ltd |
| V I P Very Important People Ltd (Registered number: 13561545) |
| Contents of the Financial Statements |
| for the Year Ended 31 August 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| V I P Very Important People Ltd |
| Company Information |
| for the Year Ended 31 August 2024 |
| Director: |
| Registered office: |
| Registered number: |
| V I P Very Important People Ltd (Registered number: 13561545) |
| Balance Sheet |
| 31 August 2024 |
| 31.8.24 | 31.8.23 |
| £ | £ |
| Current assets |
| Cash in hand |
| Total assets less current liabilities |
| Capital and reserves |
| Called up share capital |
| The director acknowledges his responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| The financial statements were approved by the director and authorised for issue on |
| V I P Very Important People Ltd (Registered number: 13561545) |
| Notes to the Financial Statements |
| for the Year Ended 31 August 2024 |
| 1. | Statement of compliance |
| 2. | Accounting policies |
| Basis of preparing the financial statements |
| Critical accounting judgements and key sources of estimation uncertainty |
| The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. |
| Financial instruments |
| A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. |
| Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment. |
| Debtors and creditors that fall due within one year are recorded in the financial statements at transaction price and then subsequently measured at amortised cost. If the effects of the time value of money are immaterial, they are measured at cost (less impairment for trade debtors). Debtors are reviewed for impairment at each reporting date and any impairments are recorded within profit or loss and shown within administrative expenses when there is objective evidence that a debtor is impaired. Objective evidence that a debtor is impaired arises when the customer is unable to settle amounts owing to the company or the customer becomes bankrupt. |
| Debtors do not carry interest and are stated at their nominal value. |
| Trade creditors are not interest-bearing and are stated at their nominal value. |
| Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. |
| Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset which exceeds what the carrying amount would have been had the impairment loss not previously been recognised. |
| 3. | Employees and directors |
| The average number of employees during the year was NIL (2023 - NIL). |