VA Consultants Global Limited Filleted accounts for Companies House (small and micro)

VA CONSULTANTS GLOBAL LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 09901412

VA Consultants Global Limited

Filleted Unaudited Financial Statements

28 February 2023

VA Consultants Global Limited

Statement of Financial Position

28 February 2023

	2023		2022
Note	£	£	£

Fixed assets

Tangible assets	5		24,783	33,577

Current assets

Debtors	6	243,676	163,797
Cash at bank and in hand		173,447	239,838
		---------	---------
		417,123	403,635

Creditors: amounts falling due within one year	7	236,366		183,178
		---------		---------
Net current assets			180,757	220,457
			---------	---------
Total assets less current liabilities			205,540	254,034

Creditors: amounts falling due after more than one year	8	28,179	38,016
		---------	---------
Net assets		177,361	216,018
		---------	---------

Capital and reserves

Called up share capital	100	100
Profit and loss account	177,261	215,918
	---------	---------
Shareholders funds	177,361	216,018
	---------	---------

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 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have 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 .

VA Consultants Global Limited

Statement of Financial Position (continued)

28 February 2023

These financial statements were approved by the board of directors and authorised for issue on 30 November 2023 , and are signed on behalf of the board by:

Mr M Saunders

Director

Company registration number: 09901412

VA Consultants Global Limited

Notes to the Financial Statements

Year ended 28 February 2023

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Lower Mill House, Staveley Mill Yard, Staveley, Kendal, LA8 9LR, UK.

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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.

Income tax

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 is recognised on taxable profit for the current and past periods. 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.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

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:

Short leasehold property	-	25% straight line
Fixtures and fittings	-	25% reducing balance
Motor vehicles	-	25% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs.

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.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 4 (2022: 4 ).

5. Tangible assets

	Land and buildings	Fixtures and fittings	Motor vehicles	Total
	£	£	£	£
Cost
At 1 March 2022 and 28 February 2023	2,136	50,550	44,950	97,636
	------	-------	-------	-------
Depreciation
At 1 March 2022	1,602	39,104	23,353	64,059
Charge for the year	534	2,861	5,399	8,794
	------	-------	-------	-------
At 28 February 2023	2,136	41,965	28,752	72,853
	------	-------	-------	-------
Carrying amount
At 28 February 2023	–	8,585	16,198	24,783
	------	-------	-------	-------
At 28 February 2022	534	11,446	21,597	33,577
	------	-------	-------	-------

6. Debtors

	2023	2022
	£	£
Trade debtors	184,228	152,606
Amounts owed by group undertakings	7,500	–
Other debtors	51,948	11,191
	---------	---------
	243,676	163,797
	---------	---------

7. Creditors: amounts falling due within one year

	2023	2022
	£	£
Bank loans and overdrafts	9,709	9,619
Trade creditors	86,179	39,059
Corporation tax	47,631	65,556
Social security and other taxes	35,643	32,351
Other creditors	57,204	36,593
	---------	---------
	236,366	183,178
	---------	---------

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

	2023	2022
	£	£
Bank loans and overdrafts	24,111	33,819
Other creditors	4,068	4,197
	-------	-------
	28,179	38,016
	-------	-------

9. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:

	2023
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
Mr M Saunders	–	20,359	20,359
	----	-------	-------

	2022
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
Mr M Saunders	–	–	–
	----	----	----