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Registered Number: 11734834
England and Wales

 

 

 

VERSO LIMITED



Abridged Accounts
 


Period of accounts

Start date: 01 January 2024

End date: 31 December 2024

VERSO LIMITED
Contents Page
For the year ended 31 December 2024
 
 		 Notes
 		 2024
£		   2023
£
Fixed assets      
Tangible fixed assets 3 413    2,323 
Investments 4 2    2 
415    2,325 
Current assets      
Debtors 18,849    15,295 
Cash at bank and in hand 103,467    33,541 
122,316    48,836 
Creditors: amount falling due within one year (82,590)   (40,039)
Net current assets 39,726    8,797 
 
Total assets less current liabilities 40,141    11,122 
Creditors: amount falling due after more than one year (6,135)   (15,880)
Net assets 34,006    (4,758)
 

Capital and reserves 		     
Called up share capital 1,000    1,000 
Profit and loss account 33,006    (5,758)
Shareholders' funds 34,006    (4,758)
 


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

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 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. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

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 by the board of directors on 30 September 2025 and were signed on its behalf by:


-------------------------------
Mark William Newton
Director
1
General Information
VERSO LIMITED is a private company, limited by shares, registered in England and Wales, registration number 11734834, registration address 72 - 74 Dean Street, Soho Works, London, UK, W1D 3SG.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 25% Straight Line
Computer Equipment 25% Straight Line
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed fir impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence whee it has the power to participate in the financial and operating decisions of the associate.
2.

Average number of employees

Average number of employees during the year was 6 (2023 : 6).
3.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Computer Equipment   Total
  £   £   £
At 01 January 2024 575    8,519    9,094 
Additions -    450    450 
Disposals -    -    - 
At 31 December 2024 575    8,969    9,544 
Depreciation
At 01 January 2024 457    6,314    6,771 
Charge for year 118    2,242    2,360 
On disposals -    -    - 
At 31 December 2024 575    8,556    9,131 
Net book values
Closing balance as at 31 December 2024 -    413    413 
Opening balance as at 01 January 2024 118    2,205    2,323 


4.

Investments

Cost Other investments other than loans   Total
  £   £
At 01 January 2024 2    2 
Additions -    - 
Disposals -    - 
At 31 December 2024 2    2 

5.

Related parties

During the year the company entered into the following transactions with related parties:
Transaction value - income/(expenses) Balance owed by/(owed to)
2024
£		 2023
£		 2024
£		 2023
£
M W Newton0 0 562 562 
New Citizens Limited0 12,000 10,800 10,800 
Oya Space Limited15,832 6,900 0 0 
Lexington Street Holdings7,200 0 7,200 0 

At the year end the company was due £562 (2023: £562 owed) to Mr M W Newton a director of the company.
At the end of the year, the trade debtors included £10,800 due from New Citizens Limited. New Citizens Limited is a related party by virtue of common directorship.
During the year the company received £15,832 from Oya Space Limited as rent. Oya Space Limited is a related party by virtue of common directorship.
During the year the company revenue included £7,200 from Lexington Street Holdings and this amount was included in trade debtors at the end of the year. Lexington Street Holdings is a related party by virtue of common directorship.
2