REGISTERED NUMBER: 06800902 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

VEROSTONE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

D J Francis

REGISTERED OFFICE:

29 Gildredge Road

Eastbourne

East Sussex

BN21 4RU

BUSINESS ADDRESS:

Dixcart House

Addlestone Road

Bourne Business Park

Addlestone

Surrey

KT15 2LE

REGISTERED NUMBER:

06800902 (England and Wales)

ACCOUNTANTS:

Advanta

Chartered Accountants

29 Gildredge Road

Eastbourne

East Sussex

BN21 4RU

FIXED ASSETS

Tangible assets

4

1,731

1,845

CURRENT ASSETS

Debtors

5

536,531

441,059

Cash at bank

511,859

634,544

1,048,390

1,075,603

CREDITORS

Amounts falling due within one year

6

996,228

944,533

NET CURRENT ASSETS

52,162

131,070

TOTAL ASSETS LESS CURRENT LIABILITIES

53,893

132,915

PROVISIONS FOR LIABILITIES

8

433

461

NET ASSETS

53,460

132,454

CAPITAL AND RESERVES

Called up share capital

4

4

Retained earnings

53,456

132,450

SHAREHOLDERS' FUNDS

53,460

132,454

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

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 have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 September 2025 and were signed by:

D J Francis - Director

1.	STATUTORY INFORMATION

Verostone Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Furniture,fittings & equipment

-

25% on reducing balance

Computer equipment

-

Over 3 years

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Hire purchase and leasing commitments

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

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Contracts for services

Where the substance of a contract is that the contractual obligations are performed gradually over time, revenue is recognised as contract activity progresses to reflect the partial performance of our contractual obligations. The amount of revenue included reflects the accrual of the right to consideration as contract activity progresses by reference to value of the work performed.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 13 ) .

4.	TANGIBLE FIXED ASSETS

Furniture,fittings

Computer

& equipment

equipment

Totals

£

£

£

COST

At 1 January 2024

3,971

17,329

21,300

Additions

-

1,659

1,659

At 31 December 2024

3,971

18,988

22,959

DEPRECIATION

At 1 January 2024

3,219

16,236

19,455

Charge for year

188

1,585

1,773

At 31 December 2024

3,407

17,821

21,228

NET BOOK VALUE

At 31 December 2024

564

1,167

1,731

At 31 December 2023

752

1,093

1,845

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

509,037

417,484

Other debtors

2,708

3,458

Prepayments

24,786

20,117

536,531

441,059

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

-

59

Trade creditors

148,594

22,302

Tax

59,996

43,770

PAYE

15,870

12,377

VAT

100,959

110,406

Other creditors

4,222

3,288

Directors' current accounts

5,491

8,015

Deferred income

659,756

743,036

Accrued expenses

1,340

1,280

996,228

944,533

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2024

2023

£

£

Within one year

10,702

10,702

Between one and five years

892

11,594

11,594

22,296

8.	PROVISIONS FOR LIABILITIES

2024

2023

£

£

Deferred tax on assets

433

461

Deferred

tax

£

Balance at 1 January 2024

461

Provided during year

(28

)

Balance at 31 December 2024

433

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is D J Francis.