Company Registration No. 08873073 (England and Wales)
Vestemi Limited
Unaudited accounts
for the year ended 28 February 2018
Vestemi Limited
Unaudited accounts
Contents
Vestemi Limited
Company Information
for the year ended 28 February 2018
Directors
Damon Hart-Davis
Mark Hill
Jeremy Lock
Daniel Look
Company Number
08873073 (England and Wales)
Registered Office
16 Willingham Way
Kingston Upon Thames
Surrey
KT1 3JA
Vestemi Limited
Statement of financial position
as at
28 February 2018
Cash at bank and in hand
150,346
1,534
Creditors: amounts falling due within one year
(123,533)
(47,169)
Net current assets/(liabilities)
53,751
(17,272)
Total assets less current liabilities
54,755
(17,271)
Creditors: amounts falling due after more than one year
(19,504)
-
Net assets/(liabilities)
35,251
(17,271)
Called up share capital
153
111
Share premium
279,945
99,989
Profit and loss account
(244,847)
(117,371)
Shareholders' funds
35,251
(17,271)
For the year ending 28 February 2018 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.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
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.
Approved by the Board on 22 November 2018.
Damon Hart-Davis
Director
Company Registration No. 08873073
Vestemi Limited
Notes to the Accounts
for the year ended 28 February 2018
Vestemi Limited is a private company, limited by shares, registered in England and Wales, registration number 08873073. The registered office is 16 Willingham Way, Kingston Upon Thames, Surrey, KT1 3JA.
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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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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:
Computer equipment
Cost - 50%
Expenditure on research and development is written off in the year in which it is incurred.
Grants received in respect pf expenditure which has already been incurred are recognised in the profit and loss account in the same period.
Grants received in the year £49,228 - The Technology Strategy Board £29,596 and Innovate UK £19,632. (2017: £53,517 The Technology Strategy Board)
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Tangible fixed assets
Total
At 28 February 2018
3,390
Charge for the year
1,004
At 28 February 2018
2,386
At 28 February 2018
1,004
Vestemi Limited
Notes to the Accounts
for the year ended 28 February 2018
5
Share capital
2018
2017
Allotted, called up and fully paid:
30,642 Ordinary shares of £0.005 each
153.21
111.11
Shares issued during the period:
8,420 Ordinary shares of £0.005 each
42.10
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Average number of employees
During the year the average number of employees was 7 (2017: 8).