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Company No: 13210168 (England and Wales)

VICTUS EMPORIUM LIMITED

Unaudited Financial Statements
For the financial year ended 31 January 2024
Pages for filing with the registrar

VICTUS EMPORIUM LIMITED

Unaudited Financial Statements

For the financial year ended 31 January 2024

Contents

VICTUS EMPORIUM LIMITED

COMPANY INFORMATION

For the financial year ended 31 January 2024
VICTUS EMPORIUM LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 January 2024
DIRECTORS Mrs J L Hess
Mr N G Hess
REGISTERED OFFICE Ground Floor
90 Victoria Street
Bristol
BS1 6DP
United Kingdom
COMPANY NUMBER 13210168 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Blackbrook Gate 1
Blackbrook Business Park
Taunton
Somerset TA1 2PX
VICTUS EMPORIUM LIMITED

BALANCE SHEET

As at 31 January 2024
VICTUS EMPORIUM LIMITED

BALANCE SHEET (continued)

As at 31 January 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 4 10,227 0
Tangible assets 5 23,851 26,457
34,078 26,457
Current assets
Stocks 87,700 31,155
Debtors 6 33,406 19,072
Cash at bank and in hand 16,115 8,682
137,221 58,909
Creditors: amounts falling due within one year 7 ( 306,902) ( 191,856)
Net current liabilities (169,681) (132,947)
Total assets less current liabilities (135,603) (106,490)
Creditors: amounts falling due after more than one year 8 ( 15,029) ( 18,980)
Net liabilities ( 150,632) ( 125,470)
Capital and reserves
Called-up share capital 9 2 2
Profit and loss account ( 150,634 ) ( 125,472 )
Total shareholders' deficit ( 150,632) ( 125,470)

For the financial year ending 31 January 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Victus Emporium Limited (registered number: 13210168) were approved and authorised for issue by the Board of Directors on 04 March 2024. They were signed on its behalf by:

Mrs J L Hess
Director
VICTUS EMPORIUM LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2024
VICTUS EMPORIUM LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Victus Emporium Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Ground Floor, 90 Victoria Street, Bristol, BS1 6DP, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

Not withstanding the net liabilities of £150,632 (2023: £125,470), the directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Included within creditors due within one year is a loan from the directors' of £280,501 (2023: £179,998) which the directors have confirmed they will not seek repayment of until the company is in a position to do so. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Turnover

Turnover represents the fair value of consideration receivable in the ordinary course of business for goods and services provided. Revenue is recognised on despatch of goods to the customer.

Employee benefits

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

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Website costs 4 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Vehicles 25 % reducing balance
Office equipment 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

2. Prior year adjustment

The financial statements have been restated to adjust cost of sales expenditure which was originally treated as distribution costs. There is no change to the company's retained earnings.

As previously reported Adjustment As restated
Year ended 31 January 2023 £ £ £
Distribution costs 36,850 (36,850) 0
Cost of sales 124,374 36,850 161,224

3. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 1 1

4. Intangible assets

Website costs Total
£ £
Cost
At 01 February 2023 0 0
Additions 11,045 11,045
At 31 January 2024 11,045 11,045
Accumulated amortisation
At 01 February 2023 0 0
Charge for the financial year 818 818
At 31 January 2024 818 818
Net book value
At 31 January 2024 10,227 10,227
At 31 January 2023 0 0

5. Tangible assets

Vehicles Office equipment Total
£ £ £
Cost
At 01 February 2023 26,841 243 27,084
Additions 0 4,250 4,250
At 31 January 2024 26,841 4,493 31,334
Accumulated depreciation
At 01 February 2023 559 68 627
Charge for the financial year 6,571 285 6,856
At 31 January 2024 7,130 353 7,483
Net book value
At 31 January 2024 19,711 4,140 23,851
At 31 January 2023 26,282 175 26,457

6. Debtors

2024 2023
£ £
Trade debtors 27,405 13,108
Prepayments 6,001 2,930
VAT recoverable 0 3,034
33,406 19,072

7. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 13,729 6,654
Amounts owed to directors 280,501 179,998
Accruals 2,575 1,782
Other taxation and social security 6,146 0
Obligations under finance leases and hire purchase contracts (secured) 3,951 3,422
306,902 191,856

The hire purchase liabilities are secured over their respective assets.

8. Creditors: amounts falling due after more than one year

2024 2023
£ £
Obligations under finance leases and hire purchase contracts (secured) 15,029 18,980

The hire purchase liabilities are secured over their respective assets.

9. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
2 Ordinary shares of £ 1.00 each 2 2