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Registration number: 05966110

Vega Adventures Limited

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 30 April 2024

 

Vega Adventures Limited

Contents

Abridged Balance Sheet

1

Notes to the Unaudited Abridged Financial Statements

2 to 3

 

Vega Adventures Limited

(Registration number: 05966110)
Abridged Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

3

15,835

17,762

Current assets

 

Cash at bank and in hand

 

2,948

10,895

Creditors: Amounts falling due within one year

(16,103)

(25,715)

Net current liabilities

 

(13,155)

(14,820)

Total assets less current liabilities

 

2,680

2,942

Provisions for liabilities

(2,922)

(2,972)

Net liabilities

 

(242)

(30)

Capital and reserves

 

Called up share capital

10

10

Retained earnings

(252)

(40)

Shareholders' deficit

 

(242)

(30)

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.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the director on 22 January 2025
 

.........................................
Mr K Patrick
Director

 

Vega Adventures Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2024

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

10% reducing balance

Vehicles

20% reducing balance

Boats

5% straight line

Financial instruments

The company is party to only the basic financial instruments such as cash, trade debtors and creditors and loans. Instruments such as trade debtors and trade creditors are initially recognised at their transaction cost and reviewed at the year end for impairment. Debt instruments not repayable on demand or due within one year, such as bank loans, are measured at amortised cost using the effective interest rate.

2

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

Vega Adventures Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2024

3

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 May 2023

21,372

2,260

25,130

48,762

At 30 April 2024

21,372

2,260

25,130

48,762

Depreciation

At 1 May 2023

13,328

1,334

16,338

31,000

Charge for the year

1,069

185

673

1,927

At 30 April 2024

14,397

1,519

17,011

32,927

Carrying amount

At 30 April 2024

6,975

741

8,119

15,835

At 30 April 2023

8,044

926

8,792

17,762