Registered number
07357393
Vyper Industries Limited
Filleted Accounts
31 December 2023
Vyper Industries Limited
Registered number: 07357393
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 130,155 127,325
Tangible assets 4 8,520 13,671
Investments 5 2 2
138,677 140,998
Current assets
Stocks 112,342 125,234
Debtors 6 1,045,769 629,972
Cash at bank and in hand 1,211,819 579,088
2,369,930 1,334,294
Creditors: amounts falling due within one year 7 (1,270,799) (308,517)
Net current assets 1,099,131 1,025,777
Net assets 1,237,808 1,166,775
Capital and reserves
Called up share capital 100 100
Profit and loss account 1,237,708 1,166,675
Shareholder's funds 1,237,808 1,166,775
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
F R B Camrass
Director
Approved by the board on 6 September 2024
Vyper Industries Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 4 years
Fixtures, fittings, tools and equipment over 4 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 9 9
3 Intangible fixed assets £
Goodwill:
Cost
At 1 January 2023 127,325
Additions 2,830
At 31 December 2023 130,155
Amortisation
At 31 December 2023 -
Net book value
At 31 December 2023 130,155
At 31 December 2022 127,325
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant, machinery and equipment
£
Cost
At 1 January 2023 49,446
Additions 1,441
Disposals (20,903)
At 31 December 2023 29,984
Depreciation
At 1 January 2023 35,775
Charge for the year 6,592
On disposals (20,903)
At 31 December 2023 21,464
Net book value
At 31 December 2023 8,520
At 31 December 2022 13,671
5 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 January 2023 2
At 31 December 2023 2
6 Debtors 2023 2022
£ £
Trade debtors 628,964 185,192
Amounts owed by group undertakings and undertakings in which the company has a participating interest 254,609 344,486
Rent deposit 29,515 29,515
Prepayments 129,765 70,779
Other debtors 2,916 -
1,045,769 629,972
7 Creditors: amounts falling due within one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 10,855 20,158
Trade creditors 270,324 88,114
Taxation and social security costs 121,992 108,751
Director's loan 40,586 34,368
Pension liability 1,656 1,385
Accruals 825,386 55,741
1,270,799 308,517
8 Controlling party
The controlling party is F R B Camrass, the sole director who owns 95% of the issued share capital.
9 Other information
Vyper Industries Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 92, The Grid
92 Lockfield Avenue
Enfield
EN3 7PY
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