Acorah Software Products - Accounts Production 16.4.675 false true 31 December 2023 1 January 2023 false 1 January 2024 31 December 2024 31 December 2024 13091015 Mr Giovanni Altomonte iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 13091015 2023-12-31 13091015 2024-12-31 13091015 2024-01-01 2024-12-31 13091015 frs-core:CurrentFinancialInstruments 2024-12-31 13091015 frs-core:Non-currentFinancialInstruments 2024-12-31 13091015 frs-core:BetweenOneFiveYears 2024-12-31 13091015 frs-core:ComputerEquipment 2024-12-31 13091015 frs-core:ComputerEquipment 2024-01-01 2024-12-31 13091015 frs-core:ComputerEquipment 2023-12-31 13091015 frs-core:FurnitureFittings 2024-12-31 13091015 frs-core:FurnitureFittings 2024-01-01 2024-12-31 13091015 frs-core:FurnitureFittings 2023-12-31 13091015 frs-core:NetGoodwill 2024-12-31 13091015 frs-core:NetGoodwill 2024-01-01 2024-12-31 13091015 frs-core:NetGoodwill 2023-12-31 13091015 frs-core:MotorVehicles 2024-12-31 13091015 frs-core:MotorVehicles 2024-01-01 2024-12-31 13091015 frs-core:MotorVehicles 2023-12-31 13091015 frs-core:WithinOneYear 2024-12-31 13091015 frs-core:ShareCapital 2024-12-31 13091015 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 13091015 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 13091015 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 13091015 frs-bus:SmallEntities 2024-01-01 2024-12-31 13091015 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 13091015 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 13091015 frs-bus:Director1 2024-01-01 2024-12-31 13091015 frs-countries:EnglandWales 2024-01-01 2024-12-31 13091015 2022-12-31 13091015 2023-12-31 13091015 2023-01-01 2023-12-31 13091015 frs-core:CurrentFinancialInstruments 2023-12-31 13091015 frs-core:Non-currentFinancialInstruments 2023-12-31 13091015 frs-core:BetweenOneFiveYears 2023-12-31 13091015 frs-core:WithinOneYear 2023-12-31 13091015 frs-core:ShareCapital 2023-12-31 13091015 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31
Registered number: 13091015
VECL Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 13091015
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 6,000 7,000
Tangible Assets 5 61,875 23,656
67,875 30,656
CURRENT ASSETS
Debtors 6 408,879 383,400
Cash at bank and in hand 384,390 355,513
793,269 738,913
Creditors: Amounts Falling Due Within One Year 7 (338,999 ) (347,559 )
NET CURRENT ASSETS (LIABILITIES) 454,270 391,354
TOTAL ASSETS LESS CURRENT LIABILITIES 522,145 422,010
Creditors: Amounts Falling Due After More Than One Year 8 (27,733 ) (15,583 )
NET ASSETS 494,412 406,427
CAPITAL AND RESERVES
Called up share capital 10 1,000 1,000
Profit and Loss Account 493,412 405,427
SHAREHOLDERS' FUNDS 494,412 406,427
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For the 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.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Giovanni Altomonte
Director
25/07/2025
The notes on pages 3 to 6 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
VECL Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13091015 . The registered office is 4 Quern House Mill Court, Great Shelford, Cambridge, Cambridgeshire, CB22 5LD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 10% reducing balance
Fixtures & Fittings 5 years straight line
Computer Equipment 3 years straight line
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
2.6. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: 4)
4 4
4. Intangible Assets
Goodwill
£
Cost
As at 1 January 2024 10,000
As at 31 December 2024 10,000
Amortisation
As at 1 January 2024 3,000
Provided during the period 1,000
As at 31 December 2024 4,000
Net Book Value
As at 31 December 2024 6,000
As at 1 January 2024 7,000
5. Tangible Assets
Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 January 2024 27,000 2,000 6,318 35,318
Additions 45,625 - - 45,625
As at 31 December 2024 72,625 2,000 6,318 80,943
...CONTINUED
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Depreciation
As at 1 January 2024 4,410 1,200 6,052 11,662
Provided during the period 6,872 400 134 7,406
As at 31 December 2024 11,282 1,600 6,186 19,068
Net Book Value
As at 31 December 2024 61,343 400 132 61,875
As at 1 January 2024 22,590 800 266 23,656
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 407,629 382,130
Other debtors 250 250
Net wages - 20
Called up share capital not paid 1,000 1,000
408,879 383,400
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 13,505 -
Trade creditors 117,535 124,688
Bank loans and overdrafts 4,201 3,958
Corporation tax 92,639 106,232
Other taxes and social security 3,220 3,990
VAT 104,992 105,639
Other creditors 807 929
Accruals and deferred income 2,100 2,020
Director's loan account - 103
338,999 347,559
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 27,733 15,583
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 13,505 -
Later than one year and not later than five years 27,733 15,583
41,238 15,583
41,238 15,583
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10. Share Capital
2024 2023
£ £
Called Up Share Capital not Paid 1,000 1,000
Amount of Allotted, Called Up Share Capital 1,000 1,000
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