REGISTERED NUMBER: 12159091 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Velarde, Kelcz & Partners Limited

Page

Balance Sheet

1

Notes to the Financial Statements

2

FIXED ASSETS

Tangible assets

4

3,975

5,507

CURRENT ASSETS

Debtors

5

75,489

91,829

Cash at bank

7,024

15,055

82,513

106,884

CREDITORS

Amounts falling due within one year

6

(22,636

)

(40,028

)

NET CURRENT ASSETS

59,877

66,856

TOTAL ASSETS LESS CURRENT LIABILITIES

63,852

72,363

CREDITORS

Amounts falling due after more than one year

7

(3,528

)

(11,845

)

PROVISIONS FOR LIABILITIES

(994

)

(1,377

)

NET ASSETS

59,330

59,141

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

59,230

59,041

SHAREHOLDERS' FUNDS

59,330

59,141

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 13 November 2025 and were signed by:

Mr F X Velarde - Director

1.	STATUTORY INFORMATION

Velarde, Kelcz & Partners Limited is a private company, limited by shares, registered in England and Wales, Registration number 12159091. The registered office is Suite 2A, 7th Floor - PF City Reach, 5 Greenwich View Place, London E14 9NN.

The presentation currency of the financial statements is pound sterling (£) and the level of rounding is the nearest £1.

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.

Revenue recognition

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

o the amount of revenue can be measured reliably;

o it is probable that the Company will receive the consideration due under the contract;

o the stage of completion of the contract at the end of the reporting period can be measured reliably; and

o the costs incurred and the costs to complete the contract can be measured reliably.

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a straight line and reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings - 25% on reducing balance

Computer equipment - 33% on reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Profit and loss account.

Financial instruments

The company has entered into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like other debtors, creditors and loans to related parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is fund, an impairment loss is recognised in the profit and loss.

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.

Pension costs

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.

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 January 2024

932

11,756

12,688

Additions

316

-

316

At 31 December 2024

1,248

11,756

13,004

DEPRECIATION

At 1 January 2024

336

6,845

7,181

Charge for year

228

1,620

1,848

At 31 December 2024

564

8,465

9,029

NET BOOK VALUE

At 31 December 2024

684

3,291

3,975

At 31 December 2023

596

4,911

5,507

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

12,106

30,000

Amounts owed by group undertakings

59,735

50,212

Other debtors

3,648

11,617

75,489

91,829

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

8,336

18,260

Taxation and social security

3,005

7,550

Other creditors

11,295

14,218

22,636

40,028

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Other creditors

3,528

11,845

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

100,000

Ordinary

£0.00

1

100

100

Ordinary shares have full rights in the company with respect to voting, dividends and distributions.

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

31.12.24

31.12.23

£

£

Mr F X Velarde

Balance outstanding at start of year

11,055

12,702

Amounts advanced

20,293

-

Amounts repaid

(28,587

)

(1,647

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

2,761

11,055

The above loan is interest free, repayable on demand and was unsecured.