Caseware UK (AP4) 2023.0.135 2023.0.135 2023-09-302023-09-30The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-10-01falseNo description of principal activity11546truetruefalse 10873335 2022-10-01 2023-09-30 10873335 2021-10-01 2022-09-30 10873335 2023-09-30 10873335 2022-09-30 10873335 c:Director1 2022-10-01 2023-09-30 10873335 d:FurnitureFittings 2022-10-01 2023-09-30 10873335 d:FurnitureFittings 2023-09-30 10873335 d:FurnitureFittings 2022-09-30 10873335 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-10-01 2023-09-30 10873335 d:OfficeEquipment 2022-10-01 2023-09-30 10873335 d:OfficeEquipment 2023-09-30 10873335 d:OfficeEquipment 2022-09-30 10873335 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-10-01 2023-09-30 10873335 d:OwnedOrFreeholdAssets 2022-10-01 2023-09-30 10873335 d:CurrentFinancialInstruments 2023-09-30 10873335 d:CurrentFinancialInstruments 2022-09-30 10873335 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 10873335 d:CurrentFinancialInstruments d:WithinOneYear 2022-09-30 10873335 d:ShareCapital 2023-09-30 10873335 d:ShareCapital 2022-09-30 10873335 d:SharePremium 2023-09-30 10873335 d:SharePremium 2022-09-30 10873335 d:RetainedEarningsAccumulatedLosses 2023-09-30 10873335 d:RetainedEarningsAccumulatedLosses 2022-09-30 10873335 c:OrdinaryShareClass1 2022-10-01 2023-09-30 10873335 c:OrdinaryShareClass1 2023-09-30 10873335 c:OrdinaryShareClass1 2022-09-30 10873335 c:FRS102 2022-10-01 2023-09-30 10873335 c:AuditExempt-NoAccountantsReport 2022-10-01 2023-09-30 10873335 c:FullAccounts 2022-10-01 2023-09-30 10873335 c:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 10873335 d:AcceleratedTaxDepreciationDeferredTax 2023-09-30 10873335 d:AcceleratedTaxDepreciationDeferredTax 2022-09-30 10873335 d:TaxLossesCarry-forwardsDeferredTax 2023-09-30 10873335 d:TaxLossesCarry-forwardsDeferredTax 2022-09-30 10873335 d:RetirementBenefitObligationsDeferredTax 2023-09-30 10873335 d:RetirementBenefitObligationsDeferredTax 2022-09-30 10873335 e:PoundSterling 2022-10-01 2023-09-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 10873335









VAPE SUPPLIER LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 SEPTEMBER 2023

 
VAPE SUPPLIER LIMITED
REGISTERED NUMBER: 10873335

BALANCE SHEET
AS AT 30 SEPTEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
132,501
60,215

  
132,501
60,215

Current assets
  

Stocks
  
6,134,612
2,263,204

Debtors: amounts falling due within one year
 5 
7,014,387
1,973,808

Cash at bank and in hand
  
899,900
146,352

  
14,048,899
4,383,364

Creditors: amounts falling due within one year
 6 
(10,052,923)
(3,573,162)

Net current assets
  
 
 
3,995,976
 
 
810,202

Total assets less current liabilities
  
4,128,477
870,417

Provisions for liabilities
  

Deferred tax
 7 
(32,804)
(4,219)

  
 
 
(32,804)
 
 
(4,219)

Net assets
  
4,095,673
866,198


Capital and reserves
  

Called up share capital 
 8 
10,000
10,000

Share premium account
  
49,995
49,995

Profit and loss account
  
4,035,678
806,203

  
4,095,673
866,198


Page 1

 
VAPE SUPPLIER LIMITED
REGISTERED NUMBER: 10873335
    
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 17 October 2024.




K M Alibhai
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
VAPE SUPPLIER LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

1.


General information

The Company is a private company, limited by shares, incorporated and domiciled in England within the United Kingdom, registration number 10873335.  The Company's registered office is 33 Bennetts Hill, Birmingham, West Midlands, England, B2 5SN.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

Cash flow
Under Financial Reporting Standard 102, the company is exempt from the requirement to prepare a cash flow statement on the grounds that it qualifies as a small company.

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors have prepared the accounts on a going concern basis.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Page 3

 
VAPE SUPPLIER LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.5

Operating leases: the Company as lessee

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

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
VAPE SUPPLIER LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

 
2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
20%
Office equipment
-
33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 5

 
VAPE SUPPLIER LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.11

Debtors

Short term debtors are measured at transaction price, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.14

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.


Employees

The average monthly number of employees, including directors, during the year was 115 (2022 - 46).

Page 6

 
VAPE SUPPLIER LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

4.


Tangible fixed assets





Fixtures and fittings
Office equipment
Total

£
£
£



Cost or valuation


At 1 October 2022
42,047
57,344
99,391


Additions
47,458
67,747
115,205



At 30 September 2023

89,505
125,091
214,596



Depreciation


At 1 October 2022
20,377
18,799
39,176


Charge for the year on owned assets
17,901
25,018
42,919



At 30 September 2023

38,278
43,817
82,095



Net book value



At 30 September 2023
51,227
81,274
132,501



At 30 September 2022
21,670
38,545
60,215

Page 7

 
VAPE SUPPLIER LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

5.


Debtors

2023
2022
£
£


Trade debtors
6,527,532
1,648,736

Other debtors
57,090
4,670

Prepayments and accrued income
429,765
320,402

7,014,387
1,973,808



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
1,751,438
2,360,246

Corporation tax
1,019,835
51,155

Other taxation and social security
340,061
253,883

Other creditors
246,331
371,779

Accruals and deferred income
6,695,258
536,099

10,052,923
3,573,162



7.


Deferred taxation




2023


£






At beginning of year
(4,219)


Charged to profit or loss
(28,585)



At end of year
(32,804)

Page 8

 
VAPE SUPPLIER LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
 
7.Deferred taxation (continued)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(33,125)
(5,475)

Tax losses carried forward
-
1,028

Pension surplus
322
228

(32,803)
(4,219)


8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



10,000 (2022 - 10,000) Ordinary shares of £1.00 each
10,000
10,000



9.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. Contributions totalling £13,140 (2022 - £9,724) were payable to the fund at the balance sheet date and are included in creditors.


10.Other financial commitments

At the balance sheet date the company had total commitments of £39,373 (2022 - £Nil).


11.


Related party transactions

 As at the balance sheet date the amounts due to directors amounted to £Nil (2022 - £160,005).
Loans are interest free and repayable on demand.

 
Page 9