Caseware UK (AP4) 2023.0.135 2023.0.135 2023-06-292023-06-2912false2022-06-30No description of principal activity17truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 10690033 2022-06-30 2023-06-29 10690033 2021-06-30 2022-06-29 10690033 2023-06-29 10690033 2022-06-29 10690033 c:Director1 2022-06-30 2023-06-29 10690033 d:MotorVehicles 2022-06-30 2023-06-29 10690033 d:MotorVehicles 2023-06-29 10690033 d:MotorVehicles 2022-06-29 10690033 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-06-30 2023-06-29 10690033 d:FurnitureFittings 2022-06-30 2023-06-29 10690033 d:FurnitureFittings 2023-06-29 10690033 d:FurnitureFittings 2022-06-29 10690033 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-06-30 2023-06-29 10690033 d:OfficeEquipment 2022-06-30 2023-06-29 10690033 d:OfficeEquipment 2023-06-29 10690033 d:OfficeEquipment 2022-06-29 10690033 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-06-30 2023-06-29 10690033 d:OtherPropertyPlantEquipment 2022-06-30 2023-06-29 10690033 d:OtherPropertyPlantEquipment 2023-06-29 10690033 d:OtherPropertyPlantEquipment 2022-06-29 10690033 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2022-06-30 2023-06-29 10690033 d:OwnedOrFreeholdAssets 2022-06-30 2023-06-29 10690033 d:CurrentFinancialInstruments 2023-06-29 10690033 d:CurrentFinancialInstruments 2022-06-29 10690033 d:Non-currentFinancialInstruments 2023-06-29 10690033 d:Non-currentFinancialInstruments 2022-06-29 10690033 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-29 10690033 d:CurrentFinancialInstruments d:WithinOneYear 2022-06-29 10690033 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-29 10690033 d:Non-currentFinancialInstruments d:AfterOneYear 2022-06-29 10690033 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-06-29 10690033 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-06-29 10690033 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-06-29 10690033 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-06-29 10690033 d:ShareCapital 2023-06-29 10690033 d:ShareCapital 2022-06-29 10690033 d:RetainedEarningsAccumulatedLosses 2023-06-29 10690033 d:RetainedEarningsAccumulatedLosses 2022-06-29 10690033 c:OrdinaryShareClass1 2022-06-30 2023-06-29 10690033 c:OrdinaryShareClass1 2023-06-29 10690033 c:OrdinaryShareClass1 2022-06-29 10690033 c:FRS102 2022-06-30 2023-06-29 10690033 c:AuditExempt-NoAccountantsReport 2022-06-30 2023-06-29 10690033 c:FullAccounts 2022-06-30 2023-06-29 10690033 c:PrivateLimitedCompanyLtd 2022-06-30 2023-06-29 10690033 e:PoundSterling 2022-06-30 2023-06-29 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 10690033









FORWARD VAPING LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 29 JUNE 2023

 
FORWARD VAPING LTD
REGISTERED NUMBER: 10690033

BALANCE SHEET
AS AT 29 JUNE 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
129,723
166,193

  
129,723
166,193

Current assets
  

Stocks
  
39,647
51,050

Debtors: amounts falling due within one year
 5 
1,291,068
916,673

Cash at bank and in hand
  
10,917
19,917

  
1,341,632
987,640

Creditors: amounts falling due within one year
 6 
(960,545)
(648,087)

Net current assets
  
 
 
381,087
 
 
339,553

Total assets less current liabilities
  
510,810
505,746

Creditors: amounts falling due after more than one year
 7 
(19,297)
(30,000)

  

Net assets
  
491,513
475,746


Capital and reserves
  

Called up share capital 
 9 
1
1

Profit and loss account
  
491,512
475,745

  
491,513
475,746


Page 1

 
FORWARD VAPING LTD
REGISTERED NUMBER: 10690033
    
BALANCE SHEET (CONTINUED)
AS AT 29 JUNE 2023

The director considers 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 director acknowledges his 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 29 July 2024.




N Nathwani
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
FORWARD VAPING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 JUNE 2023

1.


General information

The Company is a private company, limited by shares, incorporated and domiciled in England within the United Kingdom, registration number 10690033.  The Company's registered office is Unit 19 Wainwright Street, Ind Est Wainwright Street, Aston, Birmingham, West Midlands, United Kingdom, B6 5TJ.
The financial statements are presented in sterling which is the functional currency of the company and the financial statements are rounded to the nearest £1.

2.Accounting policies

 
2.1

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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.

Cash flow
Under Financial Reporting Standard 102, the company is exempt from the requirement to prepare a cash flow statement on the grounds that it qualifies as a small company.

The following principal accounting policies have been applied:

 
2.2

Going concern

The accounts are prepared on a going concern basis.

 
2.3

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.

 
2.4

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.

Page 3

 
FORWARD VAPING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 JUNE 2023

2.Accounting policies (continued)

 
2.5

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.

 
2.6

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.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.8

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 Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
FORWARD VAPING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 JUNE 2023

2.Accounting policies (continued)

 
2.9

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.10

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, using the straight-line method.

Depreciation is provided on the following basis:

Motor vehicles
-
33%
Straight line
Fixtures and fittings
-
20%
Straight line
Office equipment
-
33%
Straight line
Leasehold improvements
-
4%
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.

Page 5

 
FORWARD VAPING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 JUNE 2023

2.Accounting policies (continued)

 
2.11

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 weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet 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.

 
2.12

Debtors

Short term debtors are measured at transaction price, less any impairment.

 
2.13

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.

 
2.14

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 12 (2022 - 17).

Page 6

 
FORWARD VAPING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 JUNE 2023

4.


Tangible fixed assets





Motor vehicles
Fixtures and fittings
Office equipment
Leasehold improve-ments
Total

£
£
£
£
£



Cost or valuation


At 30 June 2022
107,667
140,547
61,633
48,390
358,237


Additions
-
-
822
-
822



At 29 June 2023

107,667
140,547
62,455
48,390
359,059



Depreciation


At 30 June 2022
107,667
40,419
42,830
1,129
192,045


Charge for the year on owned assets
-
26,784
8,571
1,936
37,291



At 29 June 2023

107,667
67,203
51,401
3,065
229,336



Net book value



At 29 June 2023
-
73,344
11,054
45,325
129,723



At 29 June 2022
-
100,129
18,803
47,261
166,193

Page 7

 
FORWARD VAPING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 JUNE 2023

5.


Debtors

2023
2022
£
£


Trade debtors
28,078
49,290

Other debtors
417,926
546,146

Prepayments and accrued income
845,064
321,237

1,291,068
916,673



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
10,000
10,000

Trade creditors
142,347
82,536

Corporation tax
79,670
74,460

Other taxation and social security
263,315
239,109

Other creditors
426,466
203,993

Accruals and deferred income
38,747
37,989

960,545
648,087



7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
19,297
30,000

19,297
30,000


Page 8

 
FORWARD VAPING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 JUNE 2023

8.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
10,000
10,000


10,000
10,000

Amounts falling due 1-2 years

Bank loans
10,000
10,000


10,000
10,000

Amounts falling due 2-5 years

Bank loans
9,297
20,000


9,297
20,000


29,297
40,000


Page 9

 
FORWARD VAPING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 JUNE 2023

9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1 (2022 - 1) Ordinary share of £1.00
1
1



10.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. Contributions totalling £9,835 (2022 -  £10,393) were payable to the fund at the balance sheet date and are included in creditors.


11.Other financial commitments

The company had total commitments at the balance sheet date of £176,691 (2022 -  £233,911)


12.


Related party transactions

As at the balance sheet date the company owed £202,999 (2022 - £102,999) to the director. Loans are interest free and repayable on demand.

 
Page 10