Veritek Ltd

Veritek Ltd

VERITEK LTD - Company Information

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Company Registration No. 04705403 (England and Wales)
Veritek Ltd Unaudited accounts for the year ended 31 March 2020
Veritek Ltd Unaudited accounts Contents
Page
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Veritek Ltd Company Information for the year ended 31 March 2020
Director
Chayim Perlman
Company Number
04705403 (England and Wales)
Registered Office
103 High Street Waltham Cross Hertfordshire EN8 7AN England
Accountants
Brindley Goldstein Ltd 103 High Street Waltham Cross Herts. EN8 7AN
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Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Veritek Ltd for the year ended 31 March 2020
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Veritek Ltd for the year ended 31 March 2020 as set out on pages 5 - 7 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.
This report is made solely to the Board of Directors of Veritek Ltd, as a body, in accordance with the terms of our engagement letter dated 6 August 2016. Our work has been undertaken solely to prepare for your approval the accounts of Veritek Ltd and state those matters that we have agreed to state to the Board of Directors of Veritek Ltd, as a body, in this report in accordance with AAF 07/16 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Veritek Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Veritek Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Veritek Ltd. You consider that Veritek Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Veritek Ltd. 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.
Brindley Goldstein Ltd Chartered Accountants 103 High Street Waltham Cross Herts. EN8 7AN 19 March 2021
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Veritek Ltd Statement of financial position as at 31 March 2020
2020 
2019 
Notes
£ 
£ 
Fixed assets
Tangible assets
4
739,175 
739,481 
Current assets
Cash at bank and in hand
540 
675 
Creditors: amounts falling due within one year
5
(645,522)
(667,209)
Net current liabilities
(644,982)
(666,534)
Total assets less current liabilities
94,193 
72,947 
Creditors: amounts falling due after more than one year
6
(150,840)
(150,833)
Net liabilities
(56,647)
(77,886)
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
(56,649)
(77,888)
Shareholders' funds
(56,647)
(77,886)
For the year ending 31 March 2020 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
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.
The financial statements were approved by the Board and authorised for issue on 19 March 2021 and were signed on its behalf by
Chayim Perlman Director Company Registration No. 04705403
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Veritek Ltd Notes to the Accounts for the year ended 31 March 2020
1
Statutory information
Veritek Ltd is a private company, limited by shares, registered in England and Wales, registration number 04705403. The registered office is 103 High Street, Waltham Cross, Hertfordshire, EN8 7AN, England.
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.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
No depreciation is provided on the company's freehold properties
4
Tangible fixed assets
Land & buildings 
Fixtures & fittings 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 April 2019
738,972 
5,150 
744,122 
At 31 March 2020
738,972 
5,150 
744,122 
Depreciation
At 1 April 2019
- 
4,641 
4,641 
Charge for the year
- 
306 
306 
At 31 March 2020
- 
4,947 
4,947 
Net book value
At 31 March 2020
738,972 
203 
739,175 
At 31 March 2019
738,972 
509 
739,481 
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Veritek Ltd Notes to the Accounts for the year ended 31 March 2020
5
Creditors: amounts falling due within one year
2020 
2019 
£ 
£ 
Bank loans and overdrafts
3,050 
3,050 
Trade creditors
600 
300 
Other creditors
2,191 
24,178 
Loans from directors
639,381 
639,381 
Accruals
300 
300 
645,522 
667,209 
6
Creditors: amounts falling due after more than one year
2020 
2019 
£ 
£ 
Other creditors
150,840 
150,833 
7
Transactions with related parties
The company was under the control of Mr B. Roth throughout the current year. Mr B. Roth is personally interested in 50% of the company's issued share capital and Mr C. Perlman is personally interested in the remaining 50% of the company's issued share capital.
8
Average number of employees
During the year the average number of employees was 0 (2019: 0).
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