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REGISTERED NUMBER: 12188494 (England and Wales)















Financial Statements for the Year Ended 31 December 2022

for

Veja Uk Ltd

Veja Uk Ltd (Registered number: 12188494)






Contents of the Financial Statements
for the Year Ended 31 December 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Veja Uk Ltd

Company Information
for the Year Ended 31 December 2022







DIRECTORS: Mme L Browne
S Kopp
F G Morillion



SECRETARY: Pramex International Ltd



REGISTERED OFFICE: 8th Floor South
11 Old Jewry
London
EC2R 8DU



REGISTERED NUMBER: 12188494 (England and Wales)



AUDITORS: Roberts Nathan
Chartered Certified Accountants and
Statutory Auditors
9 Exchange Place
International Financial Services Centre
Dublin 1
Ireland



BANKERS: HSBC UK Bank Plc,
8 Canada Square,
London, E14 5HQ,
United Kingdom

Veja Uk Ltd (Registered number: 12188494)

Balance Sheet
31 December 2022

31.12.22 31.12.21
Notes £    £   
CURRENT ASSETS
Stocks 3,841,470 2,753,792
Debtors 4 1,600,879 661,311
Cash at bank 7,960,830 897,200
13,403,179 4,312,303
CREDITORS
Amounts falling due within one year 5 8,208,358 4,242,071
NET CURRENT ASSETS 5,194,821 70,232
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,194,821

70,232

CAPITAL AND RESERVES
Called up share capital 6 1,000 1,000
Retained earnings 7 5,193,821 69,232
SHAREHOLDERS' FUNDS 5,194,821 70,232

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 September 2023 and were signed on its behalf by:





Mme L Browne - Director


Veja Uk Ltd (Registered number: 12188494)

Notes to the Financial Statements
for the Year Ended 31 December 2022

1. STATUTORY INFORMATION

Veja Uk Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The functional currency and the presentation currency of the financial statements is the Pound Sterling (£).

The principal activity of the company in the year under review was that of wholesale of clothing and footwear.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

These accounts are individual financial statements and do not form part of a group accounts.

All amounts are rounded to the nearest £.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the period in which the estimate is revised where the
revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is recognised in line with section 23 with FRS102 when all conditions for the sale of goods are met. Any payment received in advance from customers is not recognised in the turnover figures for the period, these amounts are included as 'Customer deposits' within the Creditors due within 1 year.

Veja Uk Ltd (Registered number: 12188494)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

2. ACCOUNTING POLICIES - continued

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet 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 debtors, loans from fellow group companies, cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, accruals and loans from fellow group companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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

Veja Uk Ltd (Registered number: 12188494)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

2. ACCOUNTING POLICIES - continued

Basic financial liabilities - continued
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

The non-monetary items are measured at historical cost and translated at the exchange rate on the date of transaction.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2021 - 3 ) .

Veja Uk Ltd (Registered number: 12188494)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Trade debtors 1,272,227 119,045
Other debtors 29,500 -
VAT 266,800 357,766
Prepayments and accrued income 32,352 184,500
1,600,879 661,311

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Trade creditors 2,931,639 2,876,065
Amounts owed to group undertakings 226,237 1,163,948
Tax 1,225,606 16,240
Accruals and deferred income 3,824,876 185,818
8,208,358 4,242,071

Trade creditors are payable at various dates over the coming months in accordance with the suppliers' usual and customary credit terms.

The term of the accruals are based on the underlying contracts.

Taxes including social insurance are payable at various dates over the coming months in accordance with the applicable statutory provisions.

Amounts owed to Group Undertakings are unsecured, interest free and are repayable on demand.

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.22 31.12.21
value: £    £   
1,000 Ordinary £1 1,000 1,000

7. RESERVES
Retained
earnings
£   

At 1 January 2022 69,232
Profit for the year 5,124,589
At 31 December 2022 5,193,821

Veja Uk Ltd (Registered number: 12188494)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Aidan Scollard (Senior Statutory Auditor)
for and on behalf of Roberts Nathan

9. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

10. ULTIMATE CONTROLLING PARTY

The company's immediate and ultimate controlling parent company is Veja Fair Trade SARL, a company incorporated in France, whose registered address is 146 Rue du Faubourg Poissonnière, 75010 Paris, France.

11. APPROVAL OF FINANCIAL STATEMENTS

The board of directors approved these financial statements for issue on _________