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REGISTERED NUMBER: 07511776 (England and Wales)















Unaudited Financial Statements for the Year Ended 29 February 2024

for

Vasaclass Ltd

Vasaclass Ltd (Registered number: 07511776)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


Vasaclass Ltd (Registered number: 07511776)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 30,396 5,626

CURRENT ASSETS
Debtors 5 137,911 4,074
Cash at bank 88,510 171,429
226,421 175,503
CREDITORS
Amounts falling due within one year 6 35,243 55,337
NET CURRENT ASSETS 191,178 120,166
TOTAL ASSETS LESS CURRENT
LIABILITIES

221,574

125,792

CREDITORS
Amounts falling due after more than
one year

7

(21,260

)

(7,352

)

PROVISIONS FOR LIABILITIES 8 (5,775 ) -
NET ASSETS 194,539 118,440

CAPITAL AND RESERVES
Called up share capital 9 85 85
Retained earnings 194,454 118,355
SHAREHOLDERS' FUNDS 194,539 118,440

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

Vasaclass Ltd (Registered number: 07511776)

Balance Sheet - continued
29 February 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 1 October 2024 and were signed by:





Dr C L McGuinness - Director


Vasaclass Ltd (Registered number: 07511776)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Vasaclass Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 07511776

Registered office: C/o Echo Tax, SPACES Manchester
Peter House
Oxford Street
Manchester
M1 5AN

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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost
Motor vehicles - 20% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Vasaclass Ltd (Registered number: 07511776)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 March 2023 59,607 28,130 87,737
Additions - 37,995 37,995
Disposals - (28,130 ) (28,130 )
At 29 February 2024 59,607 37,995 97,602
DEPRECIATION
At 1 March 2023 59,607 22,504 82,111
Charge for year - 7,599 7,599
Eliminated on disposal - (22,504 ) (22,504 )
At 29 February 2024 59,607 7,599 67,206
NET BOOK VALUE
At 29 February 2024 - 30,396 30,396
At 28 February 2023 - 5,626 5,626

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 3,888 4,074
Directors' current accounts 134,023 -
137,911 4,074

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Hire purchase contracts 4,815 4,241
Tax 28,524 27,860
Social security and other taxes 404 630
Directors' current accounts - 19,618
Accrued expenses 1,500 2,988
35,243 55,337

Vasaclass Ltd (Registered number: 07511776)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
29.2.24 28.2.23
£    £   
Hire purchase contracts 21,260 7,352

8. PROVISIONS FOR LIABILITIES
29.2.24 28.2.23
£    £   
Deferred tax 5,775 -

Deferred
tax
£   
Provided during year 5,775
Balance at 29 February 2024 5,775

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 29.2.24 28.2.23
value: £    £   
60 Ordinary A £1 60 60
25 Ordinary B £1 25 25
85 85

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 29 February 2024 and 28 February 2023:

29.2.24 28.2.23
£    £   
Dr C L McGuinness
Balance outstanding at start of year (19,618 ) (9,105 )
Amounts advanced 211,075 47,432
Amounts repaid (57,434 ) (57,945 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 134,023 (19,618 )

11. ULTIMATE CONTROLLING PARTY

The controlling party is Dr C L McGuinness.