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Registration number: 08655276

VARPO Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2023

 

VARPO Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

VARPO Ltd

Company Information

Directors

Dr Ruben Vara Pompa

Mr Peter Nieuwland

Registered office

42a Walnut Road
Chelston
Torquay
Devon
TQ2 6HS

Accountants

Neil Wilson & Co Chartered Accountant
42a Walnut Road
Chelston
Torquay
Devon
TQ2 6HS

 

VARPO Ltd

(Registration number: 08655276)
Balance Sheet as at 31 August 2023

Note

2023
£

2022
£

Current assets

 

Debtors

4

42,709

33,696

Creditors: Amounts falling due within one year

5

(26,778)

(17,034)

Net assets

 

15,931

16,662

Capital and reserves

 

Called up share capital

6

21

21

Retained earnings

15,910

16,641

Shareholders' funds

 

15,931

16,662

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

Directors' 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 directors acknowledge their 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 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 9 April 2024 and signed on its behalf by:
 

.........................................
Dr Ruben Vara Pompa
Director

 

VARPO Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 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:
42a Walnut Road
Chelston
Torquay
Devon
TQ2 6HS

The principal place of business is:
19 Newtonloan Court
Gorebridge
EH23 4FB

These financial statements were authorised for issue by the Board on 9 April 2024.

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.

Going concern

The financial statements have been prepared on a going concern basis.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

VARPO Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

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.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

4

Debtors

Current

2023
£

2022
£

Other debtors

42,709

33,696

 

VARPO Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

5

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

24,953

16,109

Accruals and deferred income

1,825

925

26,778

17,034

6

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary A Share of £1 each

20

20

20

20

Ordinary B Share of £1 each

1

1

1

1

 

21

21

21

21

7

Dividends

Interim dividends paid

   

2023
£

 

2022
£

Interim dividend of £1,600.00 per each Ordinary A Share

 

32,000

 

32,000

Interim dividend of £32,000.00 (2022 - £16,000.00) per each Ordinary B Share

 

32,000

 

16,000

   

64,000

 

48,000

8

Related party transactions

Transactions with directors

 

VARPO Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

2023

At 1 September 2022
£

Advances to director
£

At 31 August 2023
£

Dr Ruben Vara Pompa

Director loan

16,848

4,506

21,354

       
     

Mr Peter Nieuwland

16,848

4,507

21,355

       
     

 

2022

At 1 September 2021
£

Advances to director
£

At 31 August 2022
£

Dr Ruben Vara Pompa

Director loan

7,478

9,370

16,848

       
     

Mr Peter Nieuwland

7,478

9,370

16,848

       
     

 

Directors' remuneration

The directors' remuneration for the year was as follows:

2023
£

2022
£

Remuneration

25,140

21,180

Dividends paid to directors

   

2023
£

 

2022
£

Dr Ruben Vara Pompa

       

Interim dividends paid

 

-

 

-

         

Mr Peter Nieuwland

       

Interim dividends paid

 

-

 

-