Velese Limited - Filleted accounts

Registered number

08588290

Velese Limited

Unaudited Filleted Accounts

31 December 2019

Velese Limited
Registered number:		08588290
Balance Sheet
as at 31 December 2019

Notes			2019			2018
£				£
Current assets
Debtors	3	25,562			1,874
Cash at bank and in hand		1,830			4,595
		27,392			6,469

Creditors: amounts falling due within one year	4	(18,873)			(1,566)

Net current assets			8,519			4,903

Net assets			8,519			4,903

Capital and reserves
Called up share capital			10			10
Profit and loss account			8,509			4,893

Shareholder's funds			8,519			4,903

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Stephen Tait
Director
Approved by the board on 24 November 2020

Velese Limited
Notes to the Accounts
for the year ended 31 December 2019


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover - Services
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees	2019		2018
Number			Number

	Average number of persons employed by the company including paid directors and office holders	1		1


3	Debtors	2019		2018
£			£

	Trade debtors	23,650		-
	Other debtors	1,912		1,874
		25,562		1,874


4	Creditors: amounts falling due within one year	2019		2018
£			£

	Corporation tax	9,058		-
	Other taxes and social security costs	8,033		-
	Director's current account	1,782		1,566
		18,873		1,566


5	Controlling party

	The company is controlled by Stephen Tait by virtue of his 100% shareholding.


6	Other information

	Velese Limited is a private company limited by shares and incorporated in England. Its registered office is:
	The Spinney
	Oak End Way
	Woodham
	Addlestone
	KT15 3DT

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