Silverfin false false 30/04/2024 01/05/2023 30/04/2024 G Adams 18/04/2017 C L Bailey 27/05/2022 I Bailey 18/04/2017 N A Bentley 27/05/2022 H C Morris 27/05/2022 P J Morris 18/04/2017 B Perryman 18/04/2017 L H Perryman 27/05/2022 07 January 2025 The principal activity of the Company during the financial year is the retail of folders and boxes for the display of gaming cards. 10727815 2024-04-30 10727815 bus:Director1 2024-04-30 10727815 bus:Director2 2024-04-30 10727815 bus:Director3 2024-04-30 10727815 bus:Director4 2024-04-30 10727815 bus:Director5 2024-04-30 10727815 bus:Director6 2024-04-30 10727815 bus:Director7 2024-04-30 10727815 bus:Director8 2024-04-30 10727815 2023-04-30 10727815 core:CurrentFinancialInstruments 2024-04-30 10727815 core:CurrentFinancialInstruments 2023-04-30 10727815 core:ShareCapital 2024-04-30 10727815 core:ShareCapital 2023-04-30 10727815 core:RetainedEarningsAccumulatedLosses 2024-04-30 10727815 core:RetainedEarningsAccumulatedLosses 2023-04-30 10727815 core:LandBuildings 2023-04-30 10727815 core:PlantMachinery 2023-04-30 10727815 core:FurnitureFittings 2023-04-30 10727815 core:LandBuildings 2024-04-30 10727815 core:PlantMachinery 2024-04-30 10727815 core:FurnitureFittings 2024-04-30 10727815 2023-05-01 2024-04-30 10727815 bus:FilletedAccounts 2023-05-01 2024-04-30 10727815 bus:SmallEntities 2023-05-01 2024-04-30 10727815 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 10727815 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 10727815 bus:Director1 2023-05-01 2024-04-30 10727815 bus:Director2 2023-05-01 2024-04-30 10727815 bus:Director3 2023-05-01 2024-04-30 10727815 bus:Director4 2023-05-01 2024-04-30 10727815 bus:Director5 2023-05-01 2024-04-30 10727815 bus:Director6 2023-05-01 2024-04-30 10727815 bus:Director7 2023-05-01 2024-04-30 10727815 bus:Director8 2023-05-01 2024-04-30 10727815 core:LandBuildings 2023-05-01 2024-04-30 10727815 core:PlantMachinery 2023-05-01 2024-04-30 10727815 core:FurnitureFittings 2023-05-01 2024-04-30 10727815 2022-05-01 2023-04-30 iso4217:GBP xbrli:pure

Company No: 10727815 (England and Wales)

VAULT X LTD

Unaudited Financial Statements
For the financial year ended 30 April 2024
Pages for filing with the registrar

VAULT X LTD

Unaudited Financial Statements

For the financial year ended 30 April 2024

Contents

VAULT X LTD

BALANCE SHEET

As at 30 April 2024
VAULT X LTD

BALANCE SHEET (continued)

As at 30 April 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 65,320 43,654
65,320 43,654
Current assets
Stocks 4 1,436,951 1,045,659
Debtors 5 339,420 295,675
Cash at bank and in hand 888,461 665,376
2,664,832 2,006,710
Creditors: amounts falling due within one year 6 ( 847,461) ( 519,330)
Net current assets 1,817,371 1,487,380
Total assets less current liabilities 1,882,691 1,531,034
Provision for liabilities ( 14,698) ( 6,743)
Net assets 1,867,993 1,524,291
Capital and reserves
Called-up share capital 100 100
Profit and loss account 1,867,893 1,524,191
Total shareholders' funds 1,867,993 1,524,291

For the financial year ending 30 April 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Vault X Ltd (registered number: 10727815) were approved and authorised for issue by the Board of Directors on 07 January 2025. They were signed on its behalf by:

B Perryman
Director
VAULT X LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
VAULT X LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Vault X Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Towngate House, 2-8 Parkstone Road, Poole, BH15 2PW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.

Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Land and buildings 20 % reducing balance
Plant and machinery 20 % reducing balance
Fixtures and fittings 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell. Cost is calculated using the FIFO (first-in, first-out) method.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 9 4

3. Tangible assets

Land and buildings Plant and machinery Fixtures and fittings Total
£ £ £ £
Cost
At 01 May 2023 9,995 13,987 34,699 58,681
Additions 0 431 31,693 32,124
At 30 April 2024 9,995 14,418 66,392 90,805
Accumulated depreciation
At 01 May 2023 1,832 5,020 8,175 15,027
Charge for the financial year 1,633 1,863 6,962 10,458
At 30 April 2024 3,465 6,883 15,137 25,485
Net book value
At 30 April 2024 6,530 7,535 51,255 65,320
At 30 April 2023 8,163 8,967 26,524 43,654

4. Stocks

2024 2023
£ £
Stocks 1,436,951 1,045,659

5. Debtors

2024 2023
£ £
Trade debtors 114,209 20,103
Other debtors 225,211 275,572
339,420 295,675

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 0 76,333
Trade creditors 77,862 87,717
Taxation and social security 402,843 310,490
Other creditors 366,756 44,790
847,461 519,330

7. Financial commitments

Commitments

Capital commitments are as follows:

2024 2023
£ £
Contracted for but not provided for:
Finance leases entered into 26,921 45,014