REGISTERED NUMBER: 09347588 (England and Wales)

Unaudited Financial Statements for the Year Ended 28 February 2025

for

Verona Creative Limited

Page

Company Information

1

Chartered Accountants' Report

2

Statement of Financial Position

3

Notes to the Financial Statements

5

DIRECTOR:

C D Moyles

REGISTERED OFFICE:

33 Park Place

2nd Floor

Leeds

West Yorkshire

LS1 2RY

REGISTERED NUMBER:

09347588 (England and Wales)

ACCOUNTANTS:

Ford Campbell Freedman Limited

Chartered accountants

2nd Floor

33 Park Place

Leeds

LS1 2RY

BANKERS:

Coutts & Co

440 Strant

London

WC2R 0QS

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Verona Creative Limited for the year ended 28 February 2025 which comprise the Income Statement, Statement of Financial Position, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Verona Creative Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Verona Creative Limited and state those matters that we have agreed to state to the director of Verona Creative Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Verona Creative Limited and its director for our work or for this report.

It is your duty to ensure that Verona Creative Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Verona Creative Limited. You consider that Verona Creative Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Verona Creative Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Ford Campbell Freedman Limited

Chartered accountants

2nd Floor

33 Park Place

Leeds

LS1 2RY

6 November 2025

FIXED ASSETS

Intangible assets

5

-

-

Tangible assets

6

98,123

7,532

Investment property

7

652,500

622,775

750,623

630,307

CURRENT ASSETS

Stocks

7,186

6,144

Debtors

8

208,193

150,978

Cash at bank

1,719,568

1,975,401

1,934,947

2,132,523

CREDITORS

Amounts falling due within one year

9

848,172

849,972

NET CURRENT ASSETS

1,086,775

1,282,551

TOTAL ASSETS LESS CURRENT LIABILITIES

1,837,398

1,912,858

CREDITORS

Amounts falling due after more than one year

10

(64,382

)

-

PROVISIONS FOR LIABILITIES

(11,333

)

(7,680

)

NET ASSETS

1,761,683

1,905,178

CAPITAL AND RESERVES

Called up share capital

100

100

Fair value reserve

33,999

23,040

Retained earnings

1,727,584

1,882,038

1,761,683

1,905,178

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 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 5 November 2025 and were signed by:

C Moyles - Director

1.	STATUTORY INFORMATION

Verona Creative 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

Turnover

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated impairment losses.

Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

Royalty Rights - 20% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cosy or valuation of an asset, less its residual value, over the useful economic life od that asset as follows:

Equipment - 25% straight line

Motor vehicles - 25% reducing balance

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

5.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 29 February 2024

and 28 February 2025

1,000

AMORTISATION

At 29 February 2024

and 28 February 2025

1,000

NET BOOK VALUE

At 28 February 2025

-

At 28 February 2024

-

6.	TANGIBLE FIXED ASSETS

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 29 February 2024

-

28,171

28,171

Additions

94,647

2,704

97,351

At 28 February 2025

94,647

30,875

125,522

DEPRECIATION

At 29 February 2024

-

20,639

20,639

Charge for year

1,972

4,788

6,760

At 28 February 2025

1,972

25,427

27,399

NET BOOK VALUE

At 28 February 2025

92,675

5,448

98,123

At 28 February 2024

-

7,532

7,532

7.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 29 February 2024

622,775

Additions

15,113

Revaluations

14,612

At 28 February 2025

652,500

NET BOOK VALUE

At 28 February 2025

652,500

At 28 February 2024

622,775

Fair value at 28 February 2025 is represented by:

£

Valuation in 2024

30,720

Valuation in 2025

14,612

Cost

607,168

652,500

The above investment properties are deemed to be at market value as at 28 February 2025 on an open market basis assessed by the directors using information provided by their letting agents.

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

159,509

93,390

Other debtors

48,684

57,588

208,193

150,978

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

-

759

Taxation and social security

98,248

68,024

Other creditors

749,924

781,189

848,172

849,972

Hire purchase creditors of £19,207 (2024: £Nil), disclosed within other creditors, are secured against specific assets of the company.

10.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Other creditors

64,382

-

Hire purchase creditors of £64,382 (2024: £Nil), disclosed within other creditors, are secured against specific assets of the company.

11.	CONTROLLING PARTY