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COMPANY REGISTRATION NUMBER: 12262944
Vaas Cuisine Limited
Filleted Unaudited Financial Statements
31 October 2023
Vaas Cuisine Limited
Statement of Financial Position
31 October 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
14,562
16,451
Current assets
Debtors
6
41,993
26,961
Cash at bank and in hand
1,390
870
--------
--------
43,383
27,831
Creditors: amounts falling due within one year
7
58,834
37,328
--------
--------
Net current liabilities
15,451
9,497
--------
--------
Total assets less current liabilities
( 889)
6,954
Creditors: amounts falling due after more than one year
8
26,917
31,006
--------
--------
Net liabilities
( 27,806)
( 24,052)
--------
--------
Capital and reserves
Called up share capital
9
3
3
Profit and loss account
( 27,809)
( 24,055)
--------
--------
Shareholders deficit
( 27,806)
( 24,052)
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Vaas Cuisine Limited
Statement of Financial Position (continued)
31 October 2023
These financial statements were approved by the board of directors and authorised for issue on 29 October 2024 , and are signed on behalf of the board by:
Mr A. Kumar
Director
Company registration number: 12262944
Vaas Cuisine Limited
Notes to the Financial Statements
Year ended 31 October 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 54 High Street, Evesham, WR11 4HG.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) No cash flow statement has been presented for the company. (b) Disclosures in respect of financial instruments have not been presented.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold property
-
15% straight line
Short leasehold property
-
6% straight line
Fixtures and fittings
-
20% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to Nil (2022: 1 ).
5. Tangible assets
Freehold property
Short leasehold property
Fixtures and fittings
Total
£
£
£
£
Cost
At 1 November 2022 and 31 October 2023
1,884
18,297
1,936
22,117
-------
--------
-------
--------
Depreciation
At 1 November 2022
848
3,656
1,162
5,666
Charge for the year
282
1,219
388
1,889
-------
--------
-------
--------
At 31 October 2023
1,130
4,875
1,550
7,555
-------
--------
-------
--------
Carrying amount
At 31 October 2023
754
13,422
386
14,562
-------
--------
-------
--------
At 31 October 2022
1,036
14,641
774
16,451
-------
--------
-------
--------
6. Debtors
2023
2022
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
26,993
9,028
Other debtors
15,000
17,933
--------
--------
41,993
26,961
--------
--------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
21,031
Other creditors
37,803
37,328
--------
--------
58,834
37,328
--------
--------
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
26,917
31,006
--------
--------
9. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
3
3
3
3
----
----
----
----
10. Directors' advances, credits and guarantees
During the period advances and credits were made between the company and the directors. At the period end £33,803 (2022-£34,328) was owed to the director. The loan was interest-free but repayable on demand.
11. Related party transactions
During the period transactions took place between the company and a related party, namely, Global Cuisines (Eve)Ltd. The related party has the same former director Mr VK Sharma. At the period end £26,993 (2022-£9,028) was owed to the company. The loan is interetfree but repayable on demand.