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REGISTERED NUMBER: 08310451 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 November 2023

for

VapeHQ Limited

VapeHQ Limited (Registered number: 08310451)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


VapeHQ Limited

Company Information
for the Year Ended 30 November 2023







DIRECTOR: S Alambritis





SECRETARY: S Alambritis





REGISTERED OFFICE: Unit A Enterprise Road
Millennium Business Park
Mansfield
Nottinghamshire
NG19 7JX





REGISTERED NUMBER: 08310451 (England and Wales)

VapeHQ Limited (Registered number: 08310451)

Balance Sheet
30 November 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 53,382 35,045
Tangible assets 5 52,773 66,866
Investments 6 100 100
106,255 102,011

CURRENT ASSETS
Stocks 448,272 415,929
Debtors 7 439,262 287,756
Cash at bank and in hand 52,580 64,866
940,114 768,551
CREDITORS
Amounts falling due within one year 8 479,120 278,626
NET CURRENT ASSETS 460,994 489,925
TOTAL ASSETS LESS CURRENT
LIABILITIES

567,249

591,936

CREDITORS
Amounts falling due after more than one
year

9

61,100

64,224
NET ASSETS 506,149 527,712

CAPITAL AND RESERVES
Called up share capital 95 95
Revaluation reserve 11 26,724 8,387
Capital redemption reserve 5 5
Retained earnings 479,325 519,225
506,149 527,712

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

VapeHQ Limited (Registered number: 08310451)

Balance Sheet - continued
30 November 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 August 2024 and were signed by:





S Alambritis - Director


VapeHQ Limited (Registered number: 08310451)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

VapeHQ Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Preparation of consolidated financial statements
The financial statements contain information about VapeHQ Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are stated in the balance sheet at their revalued amounts. The revalued amounts equate to the market value at the date of revaluation less any accumulated impairment losses. Intangible assets are not being amortised.

Any revaluation gains are recognised through other comprehensive income and accumulate in a Revaluation Reserve. Any increases would however be recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss.

Any revaluation losses are regonised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset, any excess shall be recognised in profit or loss.

Revaluations are carried out regularly so that the carrying amounts do not materially differ from using the market value at the date of the balance sheet.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on cost
Computer equipment - 25% on cost

Investments in subsidiaries and associates
Investments in subsidiary and associate undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


VapeHQ Limited (Registered number: 08310451)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2022 - 19 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST OR VALUATION
At 1 December 2022 35,045
Revaluations 18,337
At 30 November 2023 53,382
NET BOOK VALUE
At 30 November 2023 53,382
At 30 November 2022 35,045

VapeHQ Limited (Registered number: 08310451)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

4. INTANGIBLE FIXED ASSETS - continued

Cost or valuation at 30 November 2023 is represented by:

Other
intangible
assets
£   
Valuation in 2023 26,724
Cost 26,658
53,382

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 December 2022 105,783 106,517 31,736 244,036
Additions - 30,195 5,135 35,330
Disposals (102,993 ) (20,794 ) (25,881 ) (149,668 )
At 30 November 2023 2,790 115,918 10,990 129,698
DEPRECIATION
At 1 December 2022 104,388 44,559 28,223 177,170
Charge for year 698 25,847 2,084 28,629
Eliminated on disposal (102,993 ) - (25,881 ) (128,874 )
At 30 November 2023 2,093 70,406 4,426 76,925
NET BOOK VALUE
At 30 November 2023 697 45,512 6,564 52,773
At 30 November 2022 1,395 61,958 3,513 66,866

VapeHQ Limited (Registered number: 08310451)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 December 2022 85,723
Additions 30,195
Transfer to ownership (13,973 )
At 30 November 2023 101,945
DEPRECIATION
At 1 December 2022 44,559
Charge for year 22,354
Transfer to ownership (7,278 )
At 30 November 2023 59,635
NET BOOK VALUE
At 30 November 2023 42,310
At 30 November 2022 41,164

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 December 2022
and 30 November 2023 100
NET BOOK VALUE
At 30 November 2023 100
At 30 November 2022 100

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 95,811 14,976
Amounts owed by group undertakings 130,423 180,429
Other debtors 213,028 92,351
439,262 287,756

VapeHQ Limited (Registered number: 08310451)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,056 9,808
Hire purchase contracts 14,587 11,821
Trade creditors 308,375 135,910
Amounts owed to group undertakings 4,388 5,919
Taxation and social security 34,736 90,550
Other creditors 106,978 24,618
479,120 278,626

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 18,215 28,270
Hire purchase contracts 42,885 35,954
61,100 64,224

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 28,271 38,078
Hire purchase contracts 57,472 47,775
85,743 85,853

The bank loan of is secured by way of a fixed and floating charge over the assets of the company.

Hire purchase liabilities of £57,472 (2022: £47,775) are secured over the assets to which the hire
purchase agreements relate.

11. RESERVES
Revaluation
reserve
£   
At 1 December 2022 8,387
Revaluation 18,337

At 30 November 2023 26,724

VapeHQ Limited (Registered number: 08310451)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

12. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 November 2023 and 30 November 2022:

2023 2022
£    £   
S Alambritis
Balance outstanding at start of year 1,683 338
Amounts advanced 9,301 8,193
Amounts repaid (32,663 ) (6,848 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (21,679 ) 1,683