VITA Private Limited

(Registration number: 11939483)
Balance Sheet as at 30 April 2023

	Note	2023 £	2022 £
Fixed assets
Tangible assets	4	4,241	3,834
Current assets
Debtors	5	142,717	219,000
Cash at bank and in hand		3,187	7,816
		145,904	226,816
Creditors: Amounts falling due within one year	6	(41,408)	(92,647)
Net current assets		104,496	134,169
Total assets less current liabilities		108,737	138,003
Creditors: Amounts falling due after more than one year	6	(15,625)	(23,125)
Net assets		93,112	114,878
Capital and reserves
Called up share capital	8	100	100
Retained earnings		93,012	114,778
Shareholders' funds		93,112	114,878

For the financial year ending 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

VITA Private Limited

(Registration number: 11939483)
Balance Sheet as at 30 April 2023 (continued)

These financial statements were approved and authorised for issue by the director on 3 October 2023
 

......................................... Mr Harish Kumar Dass Director

VITA Private Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
1 Waller Road
Beaconsfield
Buckinghamshire
HP9 2HD
England

These financial statements were authorised for issue by the director on 3 October 2023.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The functional and presentational currency is GBP Sterling (£), being the currency of the primary economic environment in which the company operates in. The amounts are presented rounded to the nearest pound.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

VITA Private Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023 (continued)

2	Accounting policies (continued)

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Computer equioment	25% on reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

VITA Private Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023 (continued)

2	Accounting policies (continued)

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

VITA Private Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023 (continued)

2	Accounting policies (continued)

Financial instruments

Classification
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans from related parties.

 Recognition and measurement
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other debtors and creditors, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method.

Debt instruments that are payable or receivable within one year, typically trade creditors or debtors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms of financed at a rate of interest that is not a market rate or in case of an out-right short term loan not at a market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

 Impairment
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss if recognised in the Profit and loss account.

For financial assets measured as amortised cost, the impairment loss is measured as the difference between an asset’s carrying amount and the present value of estimated cash flows discounted at the asset’s original effective interest rate. If a financial asset has a variable interest rate, the discounted rate for measuring any impairment loss is the current effective interest rate determined under the contract.

Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

3	Staff numbers

The average monthly number of persons employed by the company (including the director) during the year, was 1 (2022: 1).

VITA Private Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023 (continued)

4	Tangible assets

	Furniture, fittings and equipment  £
Cost
At 1 May 2022	7,088
Additions	1,748
At 30 April 2023	8,836
Depreciation
At 1 May 2022	3,254
Charge for the year	1,341
At 30 April 2023	4,595
Carrying amount
At 30 April 2023	4,241
At 30 April 2022	3,834

5

Debtors

	2023 £	2022 £
Trade debtors	40,500	29,000
Other debtors	88,000	190,000
Prepayments	14,217	-
Total current trade and other debtors	142,717	219,000

VITA Private Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023 (continued)

6

Creditors

Creditors: amounts falling due within one year

	Note	2023 £	2022 £
Due within one year
Bank loans and overdrafts	7	7,500	7,500
Trade creditors		3,842	10,953
Taxation and social security		374	3,220
Other creditors		-	1,425
Accrued expenses		14,050	15,000
Directors current account		15,642	54,549
		41,408	92,647
Due after one year
Loans and borrowings	7	15,625	23,125

7	Loans and borrowings

	2023 £	2022 £
Current loans and borrowings
Bank borrowings	7,500	7,500