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REGISTERED NUMBER: 11934516 (England and Wales)








Financial Statements

for the Year Ended

30 April 2024

for

VuPoint (Europe) Company Limited

VuPoint (Europe) Company Limited (Registered number: 11934516)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


VuPoint (Europe) Company Limited

Company Information
for the Year Ended 30 April 2024







DIRECTOR: S Best





REGISTERED OFFICE: Unit S4, The Innovation Centre
Longbridge Technology Park
1 Devon Way
Birmingham
West Midlands
B31 2TS





REGISTERED NUMBER: 11934516 (England and Wales)





AUDITORS: Nicklin Audit Limited
Chartered Accountants
Statutory Auditors
Church Court
Stourbridge Road
Halesowen
West Midlands
B63 3TT

VuPoint (Europe) Company Limited (Registered number: 11934516)

Balance Sheet
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,482 3,843

CURRENT ASSETS
Stocks 586,100 503,213
Debtors 5 49,112 21,994
Cash at bank and in hand 31,825 49,341
667,037 574,548
CREDITORS
Amounts falling due within one year 6 1,851,189 1,694,181
NET CURRENT LIABILITIES (1,184,152 ) (1,119,633 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(1,182,670

)

(1,115,790

)

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (1,182,671 ) (1,115,791 )
(1,182,670 ) (1,115,790 )

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 12 September 2024 and were signed by:





S Best - Director


VuPoint (Europe) Company Limited (Registered number: 11934516)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

VuPoint (Europe) Company 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.

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.

The company meets its day to day working capital requirements through funds provided by the Holding company. The Holding company is also the supplier of all of the stock items.

The Directors has received assurances from the Holding company that it will continue to support the business in the 12 months following the approval of these accounts and based on these facts the accounts have been prepared on the going concern basis.

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.
Plant and machinery - 20% on cost
Fixtures and fittings - 33% on cost
Computer equipment - 20% on cost

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

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.

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 3 (2023 - 3 ) .

VuPoint (Europe) Company Limited (Registered number: 11934516)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 May 2023 10,867 2,409 257 13,533
Additions - - 370 370
At 30 April 2024 10,867 2,409 627 13,903
DEPRECIATION
At 1 May 2023 7,969 1,464 257 9,690
Charge for year 2,173 519 39 2,731
At 30 April 2024 10,142 1,983 296 12,421
NET BOOK VALUE
At 30 April 2024 725 426 331 1,482
At 30 April 2023 2,898 945 - 3,843

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 47,378 20,260
Amounts owed by group undertakings 1 1
Other debtors 1,733 1,733
49,112 21,994

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 29,659 31,689
Amounts owed to group undertakings 1,806,558 1,659,222
Social security and other taxes 2,246 2,229
VAT 12,495 815
Other creditors 231 226
1,851,189 1,694,181

The day to day working capital of the company is provided by the Holding company who are the only suppliers to the company. The Holding company have committed to fund the working capital of the company in the 12 months following the adoption of the accounts to 30th April 2024.

7. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

D P Wright FCA (Senior Statutory Auditor)
for and on behalf of Nicklin Audit Limited

8. OTHER FINANCIAL COMMITMENTS

The total amount of commitments, guarantees and contingencies at the end of the year was £4,845 (2023: £3,134).

VuPoint (Europe) Company Limited (Registered number: 11934516)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

9. PARENT UNDERTAKING

The company is a wholly owned subsidiary of Helio Global Limited a company registered in the British Virgin Islands. The registered address of the company is Vistra Corporate Service Centre, Wickhams Cay 11, Road Town, Tortola, VG1110, British Virgin Islands.