Caseware UK (AP4) 2022.0.179 2022.0.179 2023-01-312023-01-31911The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false2022-02-01falseNo description of principal activitytrue 12431068 2022-02-01 2023-01-31 12431068 2021-02-01 2022-01-31 12431068 2023-01-31 12431068 2022-01-31 12431068 c:Director2 2022-02-01 2023-01-31 12431068 d:Buildings d:ShortLeaseholdAssets 2022-02-01 2023-01-31 12431068 d:Buildings d:ShortLeaseholdAssets 2023-01-31 12431068 d:Buildings d:ShortLeaseholdAssets 2022-01-31 12431068 d:PlantMachinery 2022-02-01 2023-01-31 12431068 d:PlantMachinery 2023-01-31 12431068 d:PlantMachinery 2022-01-31 12431068 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-02-01 2023-01-31 12431068 d:FurnitureFittings 2022-02-01 2023-01-31 12431068 d:FurnitureFittings 2023-01-31 12431068 d:FurnitureFittings 2022-01-31 12431068 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-02-01 2023-01-31 12431068 d:OfficeEquipment 2022-02-01 2023-01-31 12431068 d:OfficeEquipment 2023-01-31 12431068 d:OfficeEquipment 2022-01-31 12431068 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-02-01 2023-01-31 12431068 d:OwnedOrFreeholdAssets 2022-02-01 2023-01-31 12431068 d:CurrentFinancialInstruments 2023-01-31 12431068 d:CurrentFinancialInstruments 2022-01-31 12431068 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 12431068 d:CurrentFinancialInstruments d:WithinOneYear 2022-01-31 12431068 d:ShareCapital 2023-01-31 12431068 d:ShareCapital 2022-01-31 12431068 d:RetainedEarningsAccumulatedLosses 2023-01-31 12431068 d:RetainedEarningsAccumulatedLosses 2022-01-31 12431068 c:FRS102 2022-02-01 2023-01-31 12431068 c:AuditExempt-NoAccountantsReport 2022-02-01 2023-01-31 12431068 c:FullAccounts 2022-02-01 2023-01-31 12431068 c:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 12431068 6 2022-02-01 2023-01-31 iso4217:GBP xbrli:pure

Registered number: 12431068










VAPELLA LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2023


 
VAPELLA LIMITED
REGISTERED NUMBER: 12431068

STATEMENT OF FINANCIAL POSITION
AS AT 31 JANUARY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
32,299
33,449

Investments
 5 
265,000
265,000

  
297,299
298,449

Current assets
  

Stocks
  
-
32,742

Debtors: amounts falling due within one year
 6 
32,864
36,461

Cash at bank and in hand
  
935
1,155

  
33,799
70,358

Creditors: amounts falling due within one year
 7 
(424,564)
(346,401)

Net current liabilities
  
 
 
(390,765)
 
 
(276,043)

Total assets less current liabilities
  
(93,466)
22,406

  

Net (liabilities)/assets
  
(93,466)
22,406


Capital and reserves
  

Called up share capital 
  
265,000
265,000

Profit and loss account
  
(358,466)
(242,594)

  
(93,466)
22,406


Page 1

 
VAPELLA LIMITED
REGISTERED NUMBER: 12431068
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JANUARY 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 24 October 2023.




D E Stanley
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
VAPELLA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

1.Accounting policies

 
1.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
1.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
1.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
1.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

 
1.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
VAPELLA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

1.Accounting policies (continued)

 
1.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
1.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as below.

Depreciation is provided on the following basis:

Short-term leasehold property
-
10%
Straight line
Plant and machinery
-
20%
Straight line
Fixtures and fittings
-
20%
Reducing balance
Office equipment
-
20%
Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
1.8

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
1.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Page 4

 
VAPELLA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

1.Accounting policies (continued)

 
1.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
1.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
1.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
1.13

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.
Page 5

 
VAPELLA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

1.Accounting policies (continued)


1.13
Financial instruments (continued)


Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


2.


General information

Vapella Limited is a private company, limited by shares and incorporated in England.
Its registered number is: 12431068
The Registered office is:
Invision House
Wilbury Way
Hitchin
Hertfordshire
SG4 0TY


3.


Employees

The average monthly number of employees, including directors, during the year was 11 (2022 - 9).

Page 6

 
VAPELLA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

4.


Tangible fixed assets





Short-term leasehold property
Plant and machinery
Fixtures and fittings
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 February 2022
16,400
8,989
10,453
7,822
43,664


Additions
-
5,078
313
-
5,391



At 31 January 2023

16,400
14,067
10,766
7,822
49,055



Depreciation


At 1 February 2022
1,526
1,798
3,763
3,129
10,216


Charge for the year on owned assets
763
2,813
1,400
1,564
6,540



At 31 January 2023

2,289
4,611
5,163
4,693
16,756



Net book value



At 31 January 2023
14,111
9,456
5,603
3,129
32,299


5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 February 2022
265,000



At 31 January 2023
265,000




Page 7

 
VAPELLA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

6.


Debtors

2023
2022
£
£


Other debtors
29,000
29,000

Prepayments and accrued income
3,864
7,461

32,864
36,461



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
41,594
18,487

Amounts owed to related parties
80,811
52,687

Other taxation and social security
27,753
22,455

Other creditors
272,756
251,197

Accruals and deferred income
1,650
1,575

424,564
346,401


 
Page 8