Caseware UK (AP4) 2023.0.135 2023.0.135 2024-08-312024-08-312025-05-28The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.true22false2023-08-01falseThe principal activity of the Company is that of the handlng of online transactions relating to the sale of wine.true 12730453 2023-08-01 2024-08-31 12730453 2022-08-01 2023-07-31 12730453 2024-08-31 12730453 2023-07-31 12730453 c:Director2 2023-08-01 2024-08-31 12730453 d:CurrentFinancialInstruments 2024-08-31 12730453 d:CurrentFinancialInstruments 2023-07-31 12730453 d:CurrentFinancialInstruments d:WithinOneYear 2024-08-31 12730453 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 12730453 d:ShareCapital 2024-08-31 12730453 d:ShareCapital 2023-07-31 12730453 d:OtherMiscellaneousReserve 2024-08-31 12730453 d:OtherMiscellaneousReserve 2023-07-31 12730453 d:RetainedEarningsAccumulatedLosses 2024-08-31 12730453 d:RetainedEarningsAccumulatedLosses 2023-07-31 12730453 c:OrdinaryShareClass1 2023-08-01 2024-08-31 12730453 c:OrdinaryShareClass1 2024-08-31 12730453 c:OrdinaryShareClass1 2023-07-31 12730453 c:FRS102 2023-08-01 2024-08-31 12730453 c:AuditExempt-NoAccountantsReport 2023-08-01 2024-08-31 12730453 c:FullAccounts 2023-08-01 2024-08-31 12730453 c:PrivateLimitedCompanyLtd 2023-08-01 2024-08-31 12730453 e:Euro 2023-08-01 2024-08-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 12730453









VERBALA LTD

UNAUDITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 AUGUST 2024

 
VERBALA LTD
REGISTERED NUMBER: 12730453

BALANCE SHEET
AS AT 31 AUGUST 2024

31 August
31 July
2024
2023
Note

  

Current assets
  

Debtors: amounts falling due within one year
 4 
95
-

Cash at bank and in hand
  
7,301
10,329

  
7,396
10,329

Creditors: amounts falling due within one year
 5 
(15,334)
(9,913)

Net current (liabilities)/assets
  
 
 
(7,938)
 
 
416

Total assets less current liabilities
  
(7,938)
416

  

Net (liabilities)/assets
  
(7,938)
416


Capital and reserves
  

Called up share capital 
 6 
42,128
42,128

Shareholders' capital contribution
  
22,872
22,872

Profit and loss account
  
(72,938)
(64,584)

  
(7,938)
416


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 period 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 28 May 2025.




M Verciani
Director

The notes on pages 2 to 6 form part of these financial statements.

Page 1

 
VERBALA LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2024

1.


General information

Verbala Ltd is a private company, limited by shares, incorporated in England and Wales. The registered number is 12730453. The address of the registered office is 3rd Floor, 24 Old Bond Street, London W1S 4AP.
The financial statements are presented in Euros which is the functional currency of the company.

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 company is unable to continue to trade with the support of the directors. The directors consider that the resources available to the company will be insufficient for it to be able to continue as a going concern. Therefore the company's financial statements should be prepared on a basis other than that of the going concern basis.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is Euros.

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 Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 2

 
VERBALA LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.4

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.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment.

 
2.6

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.

 
2.7

Creditors

Short-term creditors are measured at the transaction price.

 
2.8

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.
Page 3

 
VERBALA LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2024

2.Accounting policies (continued)


2.8
Financial instruments (continued)


Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Basic financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Other financial instruments

Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.
Page 4

 
VERBALA LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2024

2.Accounting policies (continued)


2.8
Financial instruments (continued)


Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Employees

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


4.


Debtors

31 August
31 July
2024
2023


Trade debtors
95
-



5.


Creditors: Amounts falling due within one year

31 August
31 July
2024
2023

Accruals
15,334
9,913


Page 5

 
VERBALA LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2024

6.


Share capital

31 August
31 July
2024
2023
Allotted, called up and fully paid



50,000 (2023 - 50,000) Ordinary shares of $1.00 each
42,128
42,128



Page 6