Verytas Solutions Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 04362784

Verytas Solutions Limited

Filleted Unaudited Financial Statements

31 March 2025

Verytas Solutions Limited

Statement of Financial Position

31 March 2025

	2025	2024
Note	£	£

Fixed assets

Tangible assets	6	52,725	5,299

Current assets

Debtors	7	194,422	169,974
Cash at bank and in hand		69,106	95,409
		---------	---------
		263,528	265,383

Creditors: amounts falling due within one year	8	126,810	140,746
		---------	---------
Net current assets		136,718	124,637
		---------	---------
Total assets less current liabilities		189,443	129,936

Creditors: amounts falling due after more than one year	9	45,068	–

Provisions	13,181	560
	---------	---------
Net assets	131,194	129,376
	---------	---------

Capital and reserves

Called up share capital	1,006	1,006
Profit and loss account	130,188	128,370
	---------	---------
Shareholder funds	131,194	129,376
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Verytas Solutions Limited

Statement of Financial Position (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 12 November 2025 , and are signed on behalf of the board by:

Mr G J Paterson

Director

Company registration number: 04362784

Verytas Solutions Limited

Notes to the Financial Statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 1st Floor Clwyd House, Argoed Road, Buckley, Flintshire, CH7 3HZ.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered in the course of the supply of home care services.

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 or deferred taxation assets and liabilities are not discounted. 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.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2009 is amortised evenly over its estimated useful life of five years.

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:

	Goodwill	-	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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

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

Fixtures and fittings	-	20% straight line
Motor vehicles	-	25% reducing balance
Equipment	-	33% reducing balance

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Financial instruments

The following assets and liabilities within the accounts are classified as financial instruments - trade debtors, trade creditors and directors loans. Directors loans (being repayable upon demand), trade debtors and trade creditors, are measured at the undiscounted amount of cash or other consideration expected to be paid or received. Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If such evidence is found, an impairment loss is recognised in the statement of Income and Retained Earnings.

Defined contribution plans

The company operates a defined contribution pension scheme. Contributions to defined contribution plans are recognised as an expense in the period to which they relate.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 55 (2024: 52 ).

5. Intangible assets

	Goodwill
	£
Cost
At 1 April 2024 and 31 March 2025	105,000
	---------
Amortisation
At 1 April 2024 and 31 March 2025	105,000
	---------
Carrying amount
At 31 March 2025	–
	---------
At 31 March 2024	–
	---------

6. Tangible assets

	Fixtures and fittings	Motor vehicles	Equipment	Total
	£	£	£	£
Cost
At 1 April 2024	3,900	2,000	11,000	16,900
Additions	1,838	62,090	1,449	65,377
Disposals	( 412)	–	( 1,774)	( 2,186)
	-------	--------	--------	--------
At 31 March 2025	5,326	64,090	10,675	80,091
	-------	--------	--------	--------
Depreciation
At 1 April 2024	3,350	500	7,751	11,601
Charge for the year	588	15,898	1,088	17,574
Disposals	( 379)	–	( 1,430)	( 1,809)
	-------	--------	--------	--------
At 31 March 2025	3,559	16,398	7,409	27,366
	-------	--------	--------	--------
Carrying amount
At 31 March 2025	1,767	47,692	3,266	52,725
	-------	--------	--------	--------
At 31 March 2024	550	1,500	3,249	5,299
	-------	--------	--------	--------

7. Debtors

	2025	2024
	£	£
Trade debtors	41,794	92,324
Amounts owed by group undertakings and undertakings in which the company has a participating interest	16,087	15,342
Other debtors	136,541	62,308
	---------	---------
	194,422	169,974
	---------	---------

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	1,175	11,111
Social security and other taxes	56,974	74,871
Attachments of earnings	–	32
Other creditors	68,661	54,732
	---------	---------
	126,810	140,746
	---------	---------

Bank facilities are secured by a fixed and floating charge over the assets of the company.

9. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Other creditors	45,068	–
	--------	----

10. Directors' advances, credits and guarantees

In the year the directors operated a loan account with the company. There was movement in the year, so at the year end the account balance was £745 overdrawn (2024 £23,514 overdrawn). The loan is interest free and repayable upon demand if in credit, or if overdrawn, interest is charged by the company at the prescribed rate of 2.25%.

11. Controlling party

The ultimate parent company is Verytas Homecare Limited (Company Number 08545844), which owns 100% of the shares in Verytas Solutions Limited . The registered office of the ultimate parent company is 1st Floor, Clwyd House, Argoed Road, Buckley, Flintshire CH7 3HZ