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Registered number: 12431068










VAPELLA LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2024


 
VAPELLA LIMITED
REGISTERED NUMBER: 12431068

STATEMENT OF FINANCIAL POSITION
AS AT 31 JANUARY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
25,839
32,299

Investments
 5 
265,000
265,000

  
290,839
297,299

Current assets
  

Debtors: amounts falling due within one year
 6 
31,143
32,864

Cash at bank and in hand
  
18
935

  
31,161
33,799

Creditors: amounts falling due within one year
 7 
(435,631)
(424,564)

Net current liabilities
  
 
 
(404,470)
 
 
(390,765)

Total assets less current liabilities
  
(113,631)
(93,466)

  

Net liabilities
  
(113,631)
(93,466)


Capital and reserves
  

Called up share capital 
  
265,000
265,000

Profit and loss account
  
(378,631)
(358,466)

  
(113,631)
(93,466)


Page 1

 
VAPELLA LIMITED
REGISTERED NUMBER: 12431068
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JANUARY 2024

The directors consider 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 directors acknowledge their 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.




D E Stanley
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
VAPELLA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.Accounting policies

 
1.1

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.

The following principal accounting policies have been applied:

 
1.2

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.

 
1.3

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.

 
1.4

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.

 
1.5

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 Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
VAPELLA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.Accounting policies (continued)

 
1.6

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, as below.

Depreciation is provided on the following basis:

Short-term leasehold property
-
10%
Straight line
Plant and machinery
-
20%
Straight line
Fixtures and fittings
-
20%
Reducing balance
Office equipment
-
20%
Straight line

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.

 
1.7

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
1.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
1.9

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.

 
1.10

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.

Page 4

 
VAPELLA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.


General information

Vapella Limited is a private company, limited by shares and incorporated in England.
Its registered number is: 12431068
The Registered office is:
Invision House
Wilbury Way
Hitchin
Hertfordshire
SG4 0TY


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 11).

Page 5

 
VAPELLA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

4.


Tangible fixed assets





Short-term leasehold property
Plant and machinery
Fixtures and fittings
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 February 2023
16,400
14,067
10,766
7,822
49,055


Disposals
-
-
(313)
-
(313)



At 31 January 2024

16,400
14,067
10,453
7,822
48,742



Depreciation


At 1 February 2023
2,288
4,611
5,164
4,693
16,756


Charge for the year on owned assets
763
2,813
1,070
1,564
6,210


Disposals
-
-
(63)
-
(63)



At 31 January 2024

3,051
7,424
6,171
6,257
22,903



Net book value



At 31 January 2024
13,349
6,643
4,282
1,565
25,839


5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 February 2023
265,000



At 31 January 2024
265,000




Page 6

 
VAPELLA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

6.


Debtors

2024
2023
£
£


Other debtors
30,007
29,000

Prepayments and accrued income
1,136
3,864

31,143
32,864



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
30,089
41,594

Amounts owed to related parties
109,608
80,811

Other taxation and social security
14,409
27,753

Other creditors
279,875
272,756

Accruals and deferred income
1,650
1,650

435,631
424,564


 
Page 7