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Registration number: 01656771

vCreate Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

vCreate Ltd

Contents
for the Year Ended 31 December 2024

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

vCreate Ltd

Company Information
for the Year Ended 31 December 2024

Director

B Moore

Company secretary

B Moore

Registered office

St Stephens House
Arthur Road
Windsor
Berkshire
SL4 1RU

Registered number

01656771 ( England and Wales )

Accountants

Windsor Accountancy Limited
Chartered Certified AccountantsSt Stephens House
Arthur Road
Windsor
Berkshire
SL4 1RU

 

vCreate Ltd

(Registration number: 01656771)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

34,318

83,788

Current assets

 

Debtors

5

878,220

83,674

Cash at bank and in hand

 

352,065

539,040

 

1,230,285

622,714

Creditors: Amounts falling due within one year

6

(1,024,858)

(554,761)

Net current assets

 

205,427

67,953

Total assets less current liabilities

 

239,745

151,741

Creditors: Amounts falling due after more than one year

6

(16,716)

-

Provisions for liabilities

(8,045)

(12,056)

Net assets

 

214,984

139,685

Capital and reserves

 

Called up share capital

200

200

Retained earnings

214,784

139,485

Shareholders' funds

 

214,984

139,685

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

vCreate Ltd

(Registration number: 01656771)
Balance Sheet as at 31 December 2024

Approved and authorised by the director on 6 May 2025
 

.........................................
B Moore
Company secretary and director

 

vCreate Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
St Stephens House
Arthur Road
Windsor
Berkshire
SL4 1RU

These financial statements were authorised for issue by the director on 6 May 2025.

2

Accounting policies

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 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Disclosure of long or short period

The financial statements represent the year ended 31 December 2024. The comparative period represents the15 month period ended 31 December 2023.

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, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

vCreate Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change 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 tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet 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

Office equipment

25% Straight line

Motor vehicles

20% Reducing balance

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.

 

vCreate Ltd

Notes to the Unaudited 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. Amounts classified as receivable within one year are not amortised.

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. Amounts classified as payable within one year are not amortised.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

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.

 

vCreate Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 12 (2023 - 13).

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2024

6,665

102,080

108,745

Additions

820

-

820

Disposals

-

(51,990)

(51,990)

At 31 December 2024

7,485

50,090

57,575

Depreciation

At 1 January 2024

3,674

21,283

24,957

Charge for the year

1,551

8,014

9,565

Eliminated on disposal

-

(11,265)

(11,265)

At 31 December 2024

5,225

18,032

23,257

Carrying amount

At 31 December 2024

2,260

32,058

34,318

At 31 December 2023

2,991

80,797

83,788

 

vCreate Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

5

Debtors

Current

2024
£

2023
£

Trade debtors

116,840

58,810

Amounts owed by group undertakings

730,000

-

Prepayments

31,241

-

Other debtors

139

24,864

 

878,220

83,674

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

192,784

-

Trade creditors

 

7,099

4,157

Taxation and social security

 

146,108

90,746

Accruals and deferred income

 

675,456

456,815

Other creditors

 

3,411

3,043

 

1,024,858

554,761

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

16,716

-

 

vCreate Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

7

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Other borrowings

16,716

-

Current loans and borrowings

2024
£

2023
£

Other borrowings

192,784

-

8

Related party transactions

Transactions with the director

2024

At 1 January 2024
£

Advances to director
£

Repayments by director
£

At 31 December 2024
£

Advances and credits

(1,456)

33,328

(31,733)

139

 

2023

At 1 October 2022
£

Advances to director
£

Repayments by director
£

At 31 December 2023
£

Advances and credits

(1,535)

391

(312)

(1,456)

 

Information relating to director transactions


Amounts due to/(from) the director at the year end were free of interest and deemed repayable on demand.

 

vCreate Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

9

Parent and ultimate parent undertaking

The company's parent undertaking is vCreate Group Limited, incorporated in England and Wales. On 29th October 2024, the parent undertaking acquired 100% of the share capital of vCreate Ltd.

The registered address of the parent undertaking is:

St Stephens House
Arthur Road
Windsor
Berkshire
SL4 1RU