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Company Registration No. 13069278 (England and Wales)
VAGA Europe Limited Unaudited accounts for the year ended 31 December 2023
VAGA Europe Limited Unaudited accounts Contents
Page
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VAGA Europe Limited Company Information for the year ended 31 December 2023
Directors
John Mason Ellis Bland Paul Edwards
Company Number
13069278 (England and Wales)
Registered Office
FORMER CATON LIBRARY HORNBY ROAD CATON LANCASTER Lancashire LA2 9QW ENGLAND
Accountants
Walling Accountants Unit 1B Hallidays Farm Bilsborrow Preston PR3 0RU
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VAGA Europe Limited Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
19,147 
5,496 
Current assets
Inventories
56,760 
50,000 
Debtors
3,122 
20,834 
Cash at bank and in hand
39,601 
13,380 
99,483 
84,214 
Creditors: amounts falling due within one year
(51,856)
(55,159)
Net current assets
47,627 
29,055 
Total assets less current liabilities
66,774 
34,551 
Provisions for liabilities
Deferred tax
(3,638)
(1,044)
Net assets
63,136 
33,507 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
63,036 
33,407 
Shareholders' funds
63,136 
33,507 
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 9 April 2024 and were signed on its behalf by
John Mason Director Company Registration No. 13069278
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VAGA Europe Limited Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
VAGA Europe Limited is a private company, limited by shares, registered in England and Wales, registration number 13069278. The registered office is FORMER CATON LIBRARY HORNBY ROAD, CATON, LANCASTER, Lancashire, LA2 9QW, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
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 from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% on reducing balance
Fixtures & fittings
25% on reducing balance
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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VAGA Europe Limited Notes to the Accounts for the year ended 31 December 2023
4
Tangible fixed assets
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 January 2023
6,400 
1,554 
440 
8,394 
Additions
11,850 
1,135 
3,965 
16,950 
At 31 December 2023
18,250 
2,689 
4,405 
25,344 
Depreciation
At 1 January 2023
2,200 
637 
61 
2,898 
Charge for the year
2,531 
375 
393 
3,299 
At 31 December 2023
4,731 
1,012 
454 
6,197 
Net book value
At 31 December 2023
13,519 
1,677 
3,951 
19,147 
At 31 December 2022
4,200 
917 
379 
5,496 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
802 
9,662 
Accrued income and prepayments
761 
1,925 
Other debtors
1,559 
9,247 
3,122 
20,834 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
17,572 
36,333 
VAT
11,392 
7,816 
Trade creditors
5,323 
133 
Taxes and social security
14,644 
8,003 
Loans from directors
2,925 
2,874 
51,856 
55,159 
7
Average number of employees
During the year the average number of employees was 3 (2022: 3).
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