Company registration number 14132118 (England and Wales)
VULPES INVESTMENT MANAGEMENT UK LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023
PAGES FOR FILING WITH REGISTRAR
VULPES INVESTMENT MANAGEMENT UK LTD
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 5
VULPES INVESTMENT MANAGEMENT UK LTD
BALANCE SHEET
AS AT
31 MAY 2023
31 May 2023
- 1 -
2023
Notes
£
£
Fixed assets
Tangible assets
4
633
Current assets
Debtors
5
1,479
Cash at bank and in hand
12,081
13,560
Creditors: amounts falling due within one year
6
(11,441)
Net current assets
2,119
Total assets less current liabilities
2,752
Creditors: amounts falling due after more than one year
7
(113,115)
Net liabilities
(110,363)
Capital and reserves
Called up share capital
11
Profit and loss reserves
(110,374)
Total equity
(110,363)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 21 February 2024 and are signed on its behalf by:
S Merrilees
Director
Company Registration No. 14132118
VULPES INVESTMENT MANAGEMENT UK LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MAY 2023
- 2 -
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 25 May 2022
11
-
0
11
Year ended 31 May 2023:
Loss and total comprehensive income for the year
-
(110,374)
(110,374)
Balance at 31 May 2023
11
(110,374)
(110,363)
VULPES INVESTMENT MANAGEMENT UK LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023
- 3 -
1
Accounting policies
Company information

Vulpes Investment Management UK Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 71-75 Shelton Street, Covent Garden, London, UK, WC2H 9JQ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computers
3 years straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.3
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

VULPES INVESTMENT MANAGEMENT UK LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
1
Accounting policies
(Continued)
- 4 -

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
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 recognised 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.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
Number
Total
2
VULPES INVESTMENT MANAGEMENT UK LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
- 5 -
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 25 May 2022
-
0
Additions
769
At 31 May 2023
769
Depreciation and impairment
At 25 May 2022
-
0
Depreciation charged in the year
136
At 31 May 2023
136
Carrying amount
At 31 May 2023
633
5
Debtors
2023
Amounts falling due within one year:
£
Other debtors
1,479
6
Creditors: amounts falling due within one year
2023
£
Amounts owed to group undertakings
1,183
Taxation and social security
4,382
Other creditors
5,876
11,441
7
Creditors: amounts falling due after more than one year
2023
£
Bank loans and overdrafts
113,115
2023-05-312022-05-25false21 February 2024CCH SoftwareCCH Accounts Production 2023.300No description of principal activityFirst Inital S MerrileesM DiggleQCF Secretaries Limitedfalse141321182022-05-252023-05-31141321182023-05-3114132118core:OtherPropertyPlantEquipment2023-05-3114132118core:CurrentFinancialInstrumentscore:WithinOneYear2023-05-3114132118core:Non-currentFinancialInstrumentscore:AfterOneYear2023-05-3114132118core:CurrentFinancialInstruments2023-05-3114132118core:ShareCapital2023-05-3114132118core:RetainedEarningsAccumulatedLosses2023-05-3114132118core:ShareCapital2022-05-2414132118core:RetainedEarningsAccumulatedLosses2022-05-2414132118bus:Director12022-05-252023-05-3114132118core:RetainedEarningsAccumulatedLosses2022-05-252023-05-3114132118core:ComputerEquipment2022-05-252023-05-3114132118core:OtherPropertyPlantEquipment2022-05-2414132118core:OtherPropertyPlantEquipment2022-05-252023-05-3114132118core:WithinOneYear2023-05-3114132118core:Non-currentFinancialInstruments2023-05-3114132118bus:PrivateLimitedCompanyLtd2022-05-252023-05-3114132118bus:SmallCompaniesRegimeForAccounts2022-05-252023-05-3114132118bus:FRS1022022-05-252023-05-3114132118bus:AuditExemptWithAccountantsReport2022-05-252023-05-3114132118bus:Director22022-05-252023-05-3114132118bus:CompanySecretary12022-05-252023-05-3114132118bus:FullAccounts2022-05-252023-05-31xbrli:purexbrli:sharesiso4217:GBP