Vercida Consulting.Com Limited
Unaudited Financial Statements
For the year ended 30 September 2021
PAGES FOR FILING WITH REGISTRAR
Company Registration No. 10821054 (England and Wales)
Vercida Consulting.Com Limited
Company Information
Directors
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 - 7
Vercida Consulting.Com Limited
Balance Sheet
As at 30 September 2021
Page 1
2021
2020
Notes
£
£
£
£
Fixed assets
Tangible assets
5
3,078
1,585
Current assets
Debtors
6
283,556
186,627
Cash at bank and in hand
281,702
97,209
565,258
283,836
Creditors: amounts falling due within one year
7
(167,481)
(92,638)
Net current assets
397,777
191,198
Total assets less current liabilities
400,855
192,783
Creditors: amounts falling due after more than one year
8
(37,500)
(50,000)
Net assets
363,355
142,783
Capital and reserves
Called up share capital
9
100
100
Profit and loss reserves
363,255
142,683
Total equity
363,355
142,783
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 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 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 2021
Page 2
The financial statements were approved by the board of directors and authorised for issue on 9 March 2022 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 2021
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 £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares
publicly available consolidated financial statements
, including this company,
which are
intended to give a true and fair view of the assets, liabilities,
financial position and profit or loss
of the group
.
T
he company has
therefore
taken advantage of
e
xemptions from the following disclosure requirements:
-
Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;
-
Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues
: Interest income/expense and net gains/losses for financial instruments not measured at fair value; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;
-
Section 26 ‘Share based Payment’
:
Share-based payment expense charged to profit or loss, reconciliation of opening and closing number and weighted average exercise price of share options, how the fair value of options granted was measured, measurement and carrying amount of liabilities for cash-settled share-based payments, explanation of modifications to arrangements
;
-
Section 33 ‘Related Party Disclosures’
:
Compensation for key management personnel
.
The financial statements of the company are consolidated in the financial statements of [XXXXX]. These consolidated financial statements are available from its registered office, [XXXXXX]
.
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.
Vercida Consulting.Com Limited
Notes to the Financial Statements (Continued)
For the year ended 30 September 2021
1
Accounting policies
(Continued)
Page 4
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 and cash equivalents
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 transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
1.7
Taxation
The tax expense represents the tax currently payable.
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
Vercida Consulting.Com Limited
Notes to the Financial Statements (Continued)
For the year ended 30 September 2021
1
Accounting policies
(Continued)
Page 5
Rentals payable under operating leases,
including
any lease incentives received, are charged to
profit or loss
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
s
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
in the period
are included in profit or loss.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are 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 considered to be 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.
3
Employees
The average monthly number of persons (including director) employed by the company during the
year
were 4
(20
20
-
3
).
2021
2020
Number
Number
Total
4
Dividends
2021
2020
£
£
Final paid
66,370
Vercida Consulting.Com Limited
Notes to the Financial Statements (Continued)
For the year ended 30 September 2021
Page 6
5
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 October 2020
2,700
Additions
2,481
At 30 September 2021
5,181
Depreciation and impairment
At 1 October 2020
1,115
Depreciation charged in the year
988
At 30 September 2021
2,103
Carrying amount
At 30 September 2021
3,078
At 30 September 2020
1,585
6
Debtors
2021
2020
Amounts falling due within one year:
£
£
Trade debtors
149,746
131,766
Other debtors
133,810
54,861
283,556
186,627
7
Creditors: amounts falling due within one year
2021
2020
£
£
Bank loans
10,000
Trade creditors
1,509
11,828
Corporation tax
51,756
5,424
Other taxation and social security
52,781
67,416
Other creditors
51,435
7,970
167,481
92,638
Vercida Consulting.Com Limited
Notes to the Financial Statements (Continued)
For the year ended 30 September 2021
Page 7
8
Creditors: amounts falling due after more than one year
2021
2020
£
£
Bank loans and overdrafts
37,500
50,000
9
Called up share capital
2021
2020
2021
2020
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of 10p each
-
-
100
100
10
Related party transactions
During the period the company was charged a management fee of £14,761 (2020: £57,797) from a company under common directorship. At the period end a director was owed £417 (2020: £nil) from the company.
At the period end the company was owed £2,901 (2020: £nil) from a director. This amount has subsequently been repaid after the year end.
11
Controlling party
There is no ultimate controlling party.