VERSATIL LIMITED


Director	Mrs Samina Imran


Registered Address	24 Longford Close
	Hampton Hill
	Hampton
	TW12 1AB


Place of Business	2a High Street High Street
	South Norwood
	London
	SE25 6EP


Registered Number	09394629 (England and Wales)

Balance Sheet as at
31 December 2024

	Notes	2024		2023
		£	£	£	£
Fixed assets
Tangible assets	3		138,621		97,618
			138,621		97,618
Current assets
Debtors	4	24,070		17,685
Cash at bank and on hand		7,986		12,552
		32,056		30,237
Creditors amounts falling due within one year	5	(115,416)		(6,718)
Net current assets (liabilities)			(83,360)		23,519
Total assets less current liabilities			55,261		121,137
Creditors amounts falling due after one year	6		(232,950)		(234,942)
Net assets			(177,689)		(113,805)
Capital and reserves
Called up share capital			100		100
Profit and loss account			(177,789)		(113,905)
Shareholders' funds			(177,689)		(113,805)

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).

The financial statements were approved and authorised for issue by the Director on 29 September 2025, and are signed on its behalf by:

Mrs Samina Imran
Director
Registered Company No. 09394629

VERSATIL LIMITED

Notes to the Financial Statements
for the year ended 31 December 2024

1.	Accounting policies

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

	Statement of compliance
	The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Going concern
	After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.

	Turnover policy
	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 rendering of services. The other income represents rental income and recognised on accrual basis.

	Revenue from sale of goods
	Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

Revenue from sale of goods

Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

	Operating leases
	Where, substantially, all the risks and rewards of ownership of the asset do not transfer from the lessor to the company, the lease is treated as an operating lease. Rentals payable under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease.

	Employee benefits
	Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

Employee benefits

Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Tangible fixed assets and depreciation
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:


		Straight line (years)
	Land and buildings	12
	Plant and machinery	5
	Fixtures and fittings	5
	Vehicles	3
	Office Equipment	5

	Trade and other debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Trade and other debtors

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Trade and other creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

2.	Average number of employees


		2024		2023
	Average number of employees during the year	4		3

3.	Tangible fixed assets

		Total
		£
	Cost or valuation
	At 01 January 24	151,732
	Additions	52,585
	Disposals	(3,150)
	At 31 December 24	201,167
	Depreciation and impairment
	At 01 January 24	54,114
	Charge for year	8,432
	At 31 December 24	62,546
	Net book value
	At 31 December 24	138,621
	At 31 December 23	97,618

4.	Debtors: amounts due within one year

	2024	2023
	£	£
Trade debtors / trade receivables	-	1,200
Other debtors	21,735	15,235
Prepayments and accrued income	2,335	1,250
Total	24,070	17,685


	Other debtors includes security deposits held by the landlords of the premises.

5.	Creditors: amounts due within one year

	2024	2023
	£	£
Trade creditors / trade payables	-	983
Bank borrowings and overdrafts	1,992	1,992
Taxation and social security	4,254	-
Other creditors	107,850	2,303
Accrued liabilities and deferred income	1,320	1,440
Total	115,416	6,718


	Director's loan represents interest free loans owed to Mrs Samina Imran.

6.	Creditors: amounts due after one year

	2024	2023
	£	£
Bank borrowings and overdrafts	10,619	12,611
Other creditors	222,331	222,331
Total	232,950	234,942


	Director's loan represents interest free loans owed to Mrs Samina Imran.

7.	Operating lease commitments
	In the year, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £370,700 (2023: £247,500). The non-cancellable operating lease related to the shop premises.

8.	Controlling party
	The company is controlled by the director (Mrs Samina Imran) as she holds the 100% share capital.