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
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
VAGA Europe Limited
Statement of financial position
as at 31 December 2023
Tangible assets
19,147
5,496
Cash at bank and in hand
39,601
13,380
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)
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
VAGA Europe Limited
Notes to the Accounts
for the year ended 31 December 2023
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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 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 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.
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
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
At 31 December 2023
13,519
1,677
3,951
19,147
At 31 December 2022
4,200
917
379
5,496
Amounts falling due within one year
Accrued income and prepayments
761
1,925
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
17,572
36,333
Taxes and social security
14,644
8,003
Loans from directors
2,925
2,874
7
Average number of employees
During the year the average number of employees was 3 (2022: 3).