Company Registration No. 08391581 (England and Wales)
Veeqo Limited
Unaudited accounts
for the period from 1 March 2018 to 31 August 2018
Veeqo Limited
Unaudited accounts
Contents
Veeqo Limited
Company Information
for the period from 1 March 2018 to 31 August 2018
Directors
Matthew Warren
Daniel McPherson
Tom Singh
Company Number
08391581 (England and Wales)
Registered Office
Tech Hub Urban Village
221 High Street
Swansea
SA1 1NW
Accountants
Daniel Perrin & Co Limited
9 Stanley Place
Cadoxton
Neath
West Glamorgan
SA10 8BE
Chartered Certified Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of
Veeqo Limited
for the period from 1 March 2018 to 31 August 2018
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Veeqo Limited for the period from
1 March 2018 to
31 August 2018 as set out on pages
5 -
8 from the Company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html
This report is made solely to the Board of Directors of Veeqo Limited, as a body, in accordance with the terms of our engagement letter dated 25 November 2018. Our work has been undertaken solely to prepare for your approval the accounts of Veeqo Limited and state those matters that we have agreed to state to the Board of Directors of Veeqo Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Veeqo Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Veeqo Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Veeqo Limited. You consider that Veeqo Limited is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the accounts of Veeqo Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Daniel Perrin & Co Limited
Chartered Certified Accountants
9 Stanley Place
Cadoxton
Neath
West Glamorgan
SA10 8BE
25 November 2018
Veeqo Limited
Statement of financial position
as at 31 August 2018
Intangible assets
22,440
27,000
Tangible assets
39,051
48,214
Cash at bank and in hand
4,964
85,353
Creditors: amounts falling due within one year
(775,136)
(332,273)
Net current liabilities
(731,128)
(150,599)
Total assets less current liabilities
(669,637)
(75,385)
Creditors: amounts falling due after more than one year
-
(281,694)
Provisions for liabilities
Deferred tax
(7,420)
(14,222)
Net liabilities
(677,057)
(371,301)
Called up share capital
2,403,915
2,403,915
Profit and loss account
(3,080,972)
(2,775,216)
Shareholders' funds
(677,057)
(371,301)
For the period ending 31 August 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 period 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 25 November 2018.
Matthew Warren
Director
Company Registration No. 08391581
Veeqo Limited
Notes to the Accounts
for the period from 1 March 2018 to 31 August 2018
Veeqo Limited is a private company, limited by shares, registered in England and Wales, registration number 08391581. The registered office is Tech Hub Urban Village, 221 High Street, Swansea, SA1 1NW.
2
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 period, 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.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
20% Straight line
Computer equipment
20% Straight line
Intangible fixed assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight basis over their estimated useful economic lives. Impairment of intangible fixed assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Expenditure on research and development is written off in the year in which it is incurred.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Veeqo Limited
Notes to the Accounts
for the period from 1 March 2018 to 31 August 2018
The financial statements have been prepared on a going concern basis. The company's ongoing activities are dependent upon the continued support of the director who has undertaken to provide such support for the foreseeable future.
If the going concern basis were not appropriate, adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that may arise and to reclassify fixed assets as current assets and long term liabilities as current liabilities.
4
Intangible fixed assets
Total
Charge for the period
4,560
At 28 February 2018
27,000
5
Tangible fixed assets
Total
Charge for the period
9,163
At 28 February 2018
48,214
Veeqo Limited
Notes to the Accounts
for the period from 1 March 2018 to 31 August 2018
6
Share capital
31/08/2018
28/02/2018
Allotted, called up and fully paid:
27,000 Ordinary Shares of £0.01 each
270.00
270.00
15,000 Ordinary Shares of £10 each
150,000.00
150,000.00
7,003 Ordinary Shares of £14.28 each
100,002.84
100,002.84
19,001 Ordinary Shares of £35.71 each
678,525.71
678,525.71
3,132 Ordinary Shares of £9.57 each
29,973.24
29,973.24
6,034 Ordinary Shares of £44.12 each
266,220.08
266,220.08
307 Ordinary Shares of £76.55 each
23,500.85
23,500.85
3,001 Ordinary Shares of £76.64 each
229,996.64
229,996.64
9,662 Ordinary Shares of £95.78 each
925,426.36
925,426.36
2,403,915.72
2,403,915.72
The company is under the control of the directors during the current and previous year.
8
Average number of employees
During the period the average number of employees was 29 (28/02/2018: 38).