Registered number
09610519
VAPIN LOUD LTD
Filleted Accounts
31 May 2024
VAPIN LOUD LTD
Registered number: 09610519
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 29,290 23,845
Current assets
Stocks 125,600 246,670
Cash at bank and in hand 304,095 62,664
429,695 309,334
Creditors: amounts falling due within one year 4 (134,688) (60,496)
Net current assets 295,007 248,838
Total assets less current liabilities 324,297 272,683
Creditors: amounts falling due after more than one year 5 - (32,681)
Net assets 324,297 240,002
Capital and reserves
Called up share capital 1 1
Profit and loss account 324,296 240,001
Shareholder's funds 324,297 240,002
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Dean Gleed
Director
Approved by the board on 8 January 2025
VAPIN LOUD LTD
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment 15% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 11 9
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 June 2023 54,787
Additions 10,614
At 31 May 2024 65,401
Depreciation
At 1 June 2023 30,942
Charge for the year 5,169
At 31 May 2024 36,111
Net book value
At 31 May 2024 29,290
At 31 May 2023 23,845
4 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 46,453 -
Taxation and social security costs 72,791 48,124
Other creditors 15,444 12,372
134,688 60,496
5 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans - 32,681
6 Other information
VAPIN LOUD LTD is a private company limited by shares and incorporated in England. Its registered office is:
73 Lakedale Road
London
SE18 1PR
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