Vercida Consulting.Com Limited
Unaudited Financial Statements
For Filing with Registrar
For the year ended 30 September 2020
Company Registration No. 10821054 (England and Wales)
Vercida Consulting.Com Limited
Company Information
Directors
B Chalcraft
M Lobb
D Robertson
Company number
10821054
Registered office
Devonshire House
60 Goswell Road
London
EC1M 7AD
Accountants
Moore Kingston Smith LLP
Devonshire House
60 Goswell Road
London
EC1M 7AD
Vercida Consulting.Com Limited
Contents
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
Vercida Consulting.Com Limited
Balance Sheet
As at 30 September 2020
Page 1
2020
2019
Notes
£
£
£
£
Fixed assets
Tangible assets
4
1,585
2,260
Current assets
Debtors
5
186,627
139,343
Cash at bank and in hand
97,209
155,351
283,836
294,694
Creditors: amounts falling due within one year
6
(92,638)
(110,378)
Net current assets
191,198
184,316
Total assets less current liabilities
192,783
186,576
Creditors: amounts falling due after more than one year
7
(50,000)
Net assets
142,783
186,576
Capital and reserves
Called up share capital
8
100
100
Profit and loss reserves
142,683
186,476
Total equity
142,783
186,576
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 30 September 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
T
he directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
Vercida Consulting.Com Limited
Balance Sheet (Continued)
As at 30 September 2020
Page 2
The financial statements were approved by the board of directors and authorised for issue on 28 September 2021 and are signed on its behalf by:
D Robertson
Director
Company Registration No. 10821054
Vercida Consulting.Com Limited
Notes to the Financial Statements
For the year ended 30 September 2020
Page 3
1
Accounting policies
Company information
Vercida Consulting.Com Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
Devonshire House, 60 Goswell Road, London, EC1M 7AD.
1.1
Accounting convention
These financial statements have been prepared in accordance with section 1A of FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest pound.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business
, and
is shown net of VAT and other sales related taxes
.
The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Computer equipment
25% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.4
Cash at bank and in hand
Cash at bank and in hand
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.5
Financial instruments
The company only has basic financial instruments measured at amortised cost, with no financial instruments classified as other or basic instruments measured at fair value.
1.6
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.7
Taxation
The tax expense represents the tax currently payable.
Vercida Consulting.Com Limited
Notes to the Financial Statements (Continued)
For the year ended 30 September 2020
1
Accounting policies
(Continued)
Page 4
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
1.8
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.9
Leases
Rentals payable under operating leases,
including
any lease incentives received, are charged to income on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease asset are consumed.
1.10
Government grants
Government grants are recognised at the fair value of the asset receive
d
or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met
. Where a
grant does not specify performance conditions
it
is recognised in income when the proceeds are received or receivable
. A grant received before the recognition criteria are satisfied is recognised as a liability.
1.11
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation are included in the profit and loss account for the period.
2
Employees
The average monthly number of persons (including director) employed by the company during the
year were 3
(201
9
-
2
).
3
Dividends
2020
2019
£
£
Final paid
66,370
80,000
Vercida Consulting.Com Limited
Notes to the Financial Statements (Continued)
For the year ended 30 September 2020
Page 5
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 October 2019 and 30 September 2020
2,700
Depreciation and impairment
At 1 October 2019
440
Depreciation charged in the year
675
At 30 September 2020
1,115
Carrying amount
At 30 September 2020
1,585
At 30 September 2019
2,260
5
Debtors
2020
2019
Amounts falling due within one year:
£
£
Trade debtors
131,766
33,939
Other debtors
54,861
105,404
186,627
139,343
6
Creditors: amounts falling due within one year
2020
2019
£
£
Trade creditors
11,828
7,660
Corporation tax
5,424
43,320
Other taxation and social security
67,416
23,699
Other creditors
7,970
35,699
92,638
110,378
7
Creditors: amounts falling due after more than one year
2020
2019
£
£
Bank loans and overdrafts
50,000
Vercida Consulting.Com Limited
Notes to the Financial Statements (Continued)
For the year ended 30 September 2020
Page 6
8
Called up share capital
2020
2019
£
£
Ordinary share capital
Issued and fully paid
1,000 Ordinary shares of 10p each
100
100
100
100
9
Related party transactions
During the period the company was charged a management fee of £57,797 (2019: £21,141) from a company under common directorship. At the balance sheet date the company was owed £nil (2019: £23,336) from the company.
At the period end a director was owed £117 (2019: £18,972) from the company.
10
Controlling party
There is no ultimate controlling party.