Acorah Software Products - Accounts Production 14.5.601 false true 30 November 2022 1 December 2021 false 1 December 2022 30 November 2023 30 November 2023 08307920 Mr Tobias Kilroy Mr Hedley Thomas Mrs Deborah Kilroy iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08307920 2022-11-30 08307920 2023-11-30 08307920 2022-12-01 2023-11-30 08307920 frs-core:ComputerEquipment 2022-12-01 2023-11-30 08307920 frs-core:FurnitureFittings 2022-12-01 2023-11-30 08307920 frs-core:ShareCapital 2023-11-30 08307920 frs-core:RetainedEarningsAccumulatedLosses 2023-11-30 08307920 frs-bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 08307920 frs-bus:AbridgedAccounts 2022-12-01 2023-11-30 08307920 frs-bus:SmallEntities 2022-12-01 2023-11-30 08307920 frs-bus:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 08307920 frs-bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 08307920 frs-bus:Director1 2022-12-01 2023-11-30 08307920 frs-bus:Director2 2022-12-01 2023-11-30 08307920 frs-bus:CompanySecretary1 2022-12-01 2023-11-30 08307920 frs-countries:EnglandWales 2022-12-01 2023-11-30 08307920 2021-11-30 08307920 2022-11-30 08307920 2021-12-01 2022-11-30 08307920 frs-core:ShareCapital 2022-11-30 08307920 frs-core:RetainedEarningsAccumulatedLosses 2022-11-30
Registered number: 08307920
Planet Of The Vapes Limited
Unaudited ABRIDGED Financial Statements
For The Year Ended 30 November 2023
McManus Williams KGG Limited
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—4
Page 1
Abridged Balance Sheet
Registered number: 08307920
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 9,448 9,433
9,448 9,433
CURRENT ASSETS
Stocks 8,000 8,000
Debtors 8,091 12,687
Cash at bank and in hand 16,663 17,881
32,754 38,568
Creditors: Amounts Falling Due Within One Year (16,302 ) (9,654 )
NET CURRENT ASSETS (LIABILITIES) 16,452 28,914
TOTAL ASSETS LESS CURRENT LIABILITIES 25,900 38,347
PROVISIONS FOR LIABILITIES
Deferred Taxation (1,795 ) (1,792 )
NET ASSETS 24,105 36,555
CAPITAL AND RESERVES
Called up share capital 5 1,000 1,000
Profit and Loss Account 23,105 35,555
SHAREHOLDERS' FUNDS 24,105 36,555
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For the year ending 30 November 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
All of the company's members have consented to the preparation of an Abridged Balance Sheet for the year end 30 November 2023 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr Tobias Kilroy
Director
30/08/2024
The notes on pages 3 to 4 form part of these financial statements.
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Notes to the Abridged Financial Statements
1. General Information
Planet Of The Vapes Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08307920 . The registered office is 5th Floor, Suite 23, 63-66 Hatton Garden, London, EC1N 8LE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 15% on reducing balance
Computer Equipment 33% on cost
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the year was as follows:
2023 2022
Office and administration 2 2
2 2
4. Tangible Assets
Total
£
Cost
As at 1 December 2022 22,527
Additions 7,006
As at 30 November 2023 29,533
Depreciation
As at 1 December 2022 13,094
Provided during the period 6,991
As at 30 November 2023 20,085
Net Book Value
As at 30 November 2023 9,448
As at 1 December 2022 9,433
5. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1,000 1,000
6. Related Party Transactions
Included within Subcontractor costs are £102,300 (2022 - £90,275) paid to Get Clever Limited (company no. 09062807) who own 60% of the company’s share capital and of which Mr T Kilroy is also a Director and shareholder. Payments were in relation to web development and account management services carried out in the period. Services were deemed to be conducted at arms length. At the balance sheet date the amount due to Get Clever Limited was £15,090 (2022 - £8,130).
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