REGISTERED NUMBER: 11032703 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

VC INNOVATIONS LTD.

Page

Statement of Financial Position

1

Notes to the Financial Statements

2

FIXED ASSETS

Property, plant and equipment

4

20,403

21,039

CURRENT ASSETS

Inventories

16,365

16,365

Debtors

5

329,777

308,306

Cash at bank and in hand

618,134

675,417

964,276

1,000,088

CREDITORS

Amounts falling due within one year

6

465,691

352,546

NET CURRENT ASSETS

498,585

647,542

TOTAL ASSETS LESS CURRENT LIABILITIES

518,988

668,581

CREDITORS

Amounts falling due after more than one year

7

(7,330

)

(9,335

)

PROVISIONS FOR LIABILITIES

8

(5,101

)

(5,260

)

NET ASSETS

506,557

653,986

CAPITAL AND RESERVES

Called up share capital

110

110

Retained earnings

506,447

653,876

506,557

653,986

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 2 September 2025 and were signed by:

Mr V Cruz Miguel - Director

1.	STATUTORY INFORMATION

VC Innovations Ltd. is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

11032703

Registered office:

1 Kings Avenue

London

N21 3NA

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

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.

The accounts have been prepared for a period of 12 months whereas the comparatives are for a period of 14 months.

Significant judgements and estimates

In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources.

The estimates and associated assumptions are based on historical experience and other factors that are relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period. or in the period of the revision and future periods where the revision affects both current and future periods.

There are no significant judgements and estimates involved in the preparation of the financial statements.

Revenue

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax.

Revenue is recognised when services are rendered to customers.

Property, plant and equipment

Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses. Such cost includes costs directly attributable to making the assets capable of operating as intended.

The carrying value of tangible assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Plant and machinery - 25% on reducing balance

The company has adopted the policy of not depreciating the assets in the first year, however full depreciation is provided in the year of disposal.

Stocks

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

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the statement of financial position 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Cash and cash equivalents

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 17 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Plant and

machinery

£

COST

At 1 January 2024

49,315

Additions

4,623

At 31 December 2024

53,938

DEPRECIATION

At 1 January 2024

28,276

Charge for year

5,259

At 31 December 2024

33,535

NET BOOK VALUE

At 31 December 2024

20,403

At 31 December 2023

21,039

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

124,822

96,199

Other debtors

204,955

212,107

329,777

308,306

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

-

20,000

Trade creditors

77,244

85,800

Taxation and social security

139,118

178,704

Other creditors

249,329

68,042

465,691

352,546

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

7,330

9,335

8.	PROVISIONS FOR LIABILITIES

2024

2023

£

£

Deferred tax

5,101

5,260

Deferred

tax

£

Balance at 1 January 2024

5,260

Provided during year

(159

)

Balance at 31 December 2024

5,101

9.	RELATED PARTY DISCLOSURES

Included in other creditors less than one year, is an amount of £729 (2023: Nil) due to a connected company under common director. The amount is interest free and repayable on demand.

During the year, management fees of £76,000 (2023: Nil) were charged by an associated company with common shareholders and directorship.