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Company Registration No. 12918660 (England and Wales)
Veraco Ltd Unaudited accounts for the year ended 31 October 2025
Veraco Ltd Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
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Veraco Ltd Company Information for the year ended 31 October 2025
Directors
Charles Allan Churchman George Eric Strong
Company Number
12918660 (England and Wales)
Registered Office
1 Western Street Court 17 Western Street Brighton BN1 2PG England
Accountants
GMT Accounting Ltd 5 Sedcombe Close Sidcup Kent DA14 4QG
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Veraco Ltd Statement of financial position as at 31 October 2025
2025
2024
Notes
£
£
Fixed assets
Tangible assets
4
15,746
19,878
Current assets
Inventories
9,500
14,713
Debtors
5
17,501
4,590
Cash at bank and in hand
283
1,615
27,284
20,918
Creditors: amounts falling due within one year
6
(129,199)
(84,623)
Net current liabilities
(101,915)
(63,705)
Net liabilities
(86,169)
(43,827)
Capital and reserves
Called up share capital
121
121
Share premium
172,979
94,979
Profit and loss account
(259,269)
(138,927)
Shareholders' funds
(86,169)
(43,827)
For the year ending 31 October 2025 the company was entitled to exemption from audit 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 directors acknowledge 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 and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 21 July 2026 and were signed on its behalf by
Charles Allan Churchman Director Company Registration No. 12918660
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Veraco Ltd Notes to the Accounts for the year ended 31 October 2025
1
Statutory information
Veraco Ltd is a private company, limited by shares, registered in England and Wales, registration number 12918660. The registered office is 1 Western Street Court, 17 Western Street, Brighton, BN1 2PG, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention.
Presentation currency
The accounts are presented in £ sterling.
Going concern
The company has incurred losses during the year and has net liabilities at the balance sheet date. The directors have considered the financial position of the company and are satisfied that it will be able to meet its liabilities as they fall due. Accordingly, the financial statements have been prepared on a going concern basis.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15% Reducing balance
Motor vehicles
25% Reducing balance
Fixtures & fittings
15% Reducing balance
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Government grants
Government grants in relation to tangible fixed assets are credited to the profit and loss account over the useful lives of the related assets. Grants in relation to expenditure are credited to the profit and loss account when there is reasonable assurance that the grant will be received and the company has complied with all attached conditions. During the year, the company recognised government grant income of £18,644
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Veraco Ltd Notes to the Accounts for the year ended 31 October 2025
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
£
£
£
£
Cost or valuation
At cost
At cost
At cost
At 1 November 2024
1,305
19,167
14,034
34,506
At 31 October 2025
1,305
19,167
14,034
34,506
Depreciation
At 1 November 2024
316
7,666
6,646
14,628
Charge for the year
148
2,876
1,108
4,132
At 31 October 2025
464
10,542
7,754
18,760
Net book value
At 31 October 2025
841
8,625
6,280
15,746
At 31 October 2024
989
11,501
7,388
19,878
5
Debtors
2025
2024
£
£
Amounts falling due within one year
Trade debtors
17,501
4,590
6
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
21,231
14,714
VAT
2,649
605
Trade creditors
28,643
4,171
Taxes and social security
20,268
11,252
Other creditors
1,691
1,048
Loans from directors
54,267
52,383
Accruals
450
450
129,199
84,623
7
Transactions with related parties
At the balance sheet date, the company owed £54,267 to a director of the company.
8
Average number of employees
During the year the average number of employees was 3 (2024: 3).
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