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Registered number: 11176317









VAMPETA LTD









ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 JANUARY 2024

 
VAMPETA LTD
 
 
COMPANY INFORMATION


Directors
G D'Angelo 
C Vescovo 




Registered number
11176317



Registered office
101 New Cavendish Street
1st Floor South

London

W1W 6XH




Independent auditors
Harris & Trotter LLP
Chartered Accountants & Statutory Auditors

101 New Cavendish Street

1st Floor South

London

W1W 6XH





 
VAMPETA LTD
 

CONTENTS



Page
Group Strategic Report
1 - 2
Directors' Report
3 - 4
Independent Auditors' Report
5 - 8
Consolidated Statement of Comprehensive Income
9
Consolidated Balance Sheet
10 - 11
Company Balance Sheet
12 - 13
Consolidated Statement of Changes in Equity
14
Company Statement of Changes in Equity
15
Consolidated Statement of Cash Flows
16 - 17
Consolidated Analysis of Net Debt
18
Notes to the Financial Statements
19 - 41


 
VAMPETA LTD
 
 
GROUP STRATEGIC REPORT
FOR THE PERIOD ENDED 31 JANUARY 2024

Introduction
 
The directors presents this report and financial statements for the period ended 31 January 2024.

Business review
 
The principal activity of the group is the operation of genuine Italian neighbourhood pizzerias.
The financial year ending January 2024 was a challenging period of inflationary cost pressures on food and beverage ingredients and utility costs. Increases in minimum wage and skilled kitchen staff shortages added further pressure to the business.  Furthermore, trade was severely impacted by the cost-of-living crises as footfalls dwindled.
Despite these challenges the group focused on mitigating cost increases and operating efficiently to maximise profit. Considering the challenges faced, the group’s performance had been satisfactory.
Our employees, the La Famiglia, are vital to our operations and in addition to amazing pizzas provide our customers a warm, welcoming Zia Lucia experience to their local communities.  We continue to invest in our people and restaurants to ensure we provide a never to forget experience.
The group opened a new pizzeria in West Hampstead and had a total of nine restaurants at the end of January 2024. The group traded profitably and will continue to open new locations throughout the country and abroad.

Principal risks and uncertainties
 
The principal risks the business is exposed to are the following:
• Cost of Living
• Supply chain
• Inflationary cost pressures on food and beverage ingredients and utility prices
• Qualified staff shortages
• Staff costs - Increases in minimum wage and employers NI
These risks are not limited to Zia Lucia and are faced by all hospitality businesses in the sector. We plan to mitigate these risks by implementing the following:
• Creative menu engineering, using unique ingredients
• Strategic pricing of food and beverage
• Negotiating with new and existing suppliers 
• Improving the customer experience
• Investing in social media
• Competitive pay structures

Financial key performance indicators
 
The group monitors performance of individual sites through various financial KPI’s:
• Turnover
• Gross Profit
• EBITDA
• Cashflow
The senior leadership team constantly review systems, processes and procedures to improve controls, efficiency and profitability.

Page 1

 
VAMPETA LTD
 

GROUP STRATEGIC REPORT (CONTINUED)
FOR THE PERIOD ENDED 31 JANUARY 2024


This report was approved by the board and signed on its behalf.



G D'Angelo
Director

Date: 30 January 2025

Page 2

 
VAMPETA LTD
 
 
 
DIRECTORS' REPORT
FOR THE PERIOD ENDED 31 JANUARY 2024

The directors present their report and the financial statements for the period ended 31 January 2024.

Directors

The directors who served during the period were:

G D'Angelo 
C Vescovo 

Directors' responsibilities statement

The directors are responsible for preparing the Group Strategic Report, the Directors' Report and the consolidated financial statements in accordance with applicable law and regulations.
 
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and the Group and of the profit or loss of the Group for that period.

 In preparing these financial statements, the directors are required to:


select suitable accounting policies for the Group's financial statements and then apply them consistently;

make judgments and accounting estimates that are reasonable and prudent;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and the Group and to enable them to ensure that the financial statements comply with the Companies Act 2006They are also responsible for safeguarding the assets of the Company and the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Results and dividends

The loss for the period, after taxation and minority interests, amounted to £470 (2023 - profit £613,105).



Future developments

The groups remains focused on improving performance and growth of the brand through the opening of new locations.

Page 3

 
VAMPETA LTD
 
 
 
DIRECTORS' REPORT (CONTINUED)
FOR THE PERIOD ENDED 31 JANUARY 2024

Disclosure of information to auditors

Each of the persons who are directors at the time when this Directors' Report is approved has confirmed that:
 
so far as the director is aware, there is no relevant audit information of which the Company and the Group's auditors are unaware, and

the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company and the Group's auditors are aware of that information.

Post balance sheet events

There have been no significant events affecting the Group since the year end.

Auditors

The auditorsHarris & Trotter LLPwill be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

This report was approved by the board and signed on its behalf.
 





G D'Angelo
Director

Date: 30 January 2025

Page 4

 
VAMPETA LTD
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF VAMPETA LTD
 

Opinion


We have audited the financial statements of Vampeta Ltd (the 'parent Company') and its subsidiaries (the 'Group') for the period ended 31 January 2024, which comprise the Consolidated Statement of Comprehensive Income, the Consolidated Balance Sheet, the Company Balance Sheet, the Consolidated Statement of Cash Flows, the Consolidated Statement of Changes in Equity, the Company Statement of Changes in Equity and the related notes, including a summary of significant accounting policiesThe financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).


In our opinion the financial statements:


give a true and fair view of the state of the Group's and of the parent Company's affairs as at 31 January 2024 and of the Group's profit for the period then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.


Basis for opinion


We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.


Conclusions relating to going concern


In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.


Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's or the parent Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.


Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.


Page 5

 
VAMPETA LTD
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF VAMPETA LTD (CONTINUED)


Other information


The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The directors are responsible for the other information contained within the Annual ReportOur opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.


We have nothing to report in this regard.


Opinion on other matters prescribed by the Companies Act 2006
 

In our opinion, based on the work undertaken in the course of the audit:


the information given in the Group Strategic Report and the Directors' Report for the financial period for which the financial statements are prepared is consistent with the financial statements; and
the Group Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.


Matters on which we are required to report by exception
 

In the light of the knowledge and understanding of the Group and the parent Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Directors' Report.


We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:


adequate accounting records have not been kept by the parent Company, or returns adequate for our audit have not been received from branches not visited by us; or
the parent Company financial statements are not in agreement with the accounting records and returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.


Responsibilities of directors
 

As explained more fully in the Directors' Responsibilities Statement set out on page 3, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.


In preparing the financial statements, the directors are responsible for assessing the Group's and the parent Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Group or the parent Company or to cease operations, or have no realistic alternative but to do so.


Page 6

 
VAMPETA LTD
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF VAMPETA LTD (CONTINUED)


Auditors' responsibilities for the audit of the financial statements
 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these Group financial statements.


Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud
The objectives of our audit are to identify and assess the risks of material misstatement of the financial statements due to fraud or error; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud or error; and to respond appropriately to those risks. Owing to the inherent limitations of an audit, there is an unavoidable risk that material misstatements in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with the ISAs (UK). 
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:
• We obtained an understanding of the legal and regulatory frameworks applicable to the Company and the
industry in which it operates. We determined that the following laws and regulations were most significant: FRS 101 and the Companies Act 2006.
• We obtained an understanding of how the Company is complying with those legal and regulatory frameworks by making enquiries of management.
• We challenged assumptions and judgments made by management in its significant accounting estimates. 
• We did not identify any key audit matters relating to irregularities, including fraud.


A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.


Use of our report
 

This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.


Page 7

 
VAMPETA LTD
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF VAMPETA LTD (CONTINUED)





Nicholas Newman (Senior Statutory Auditor)
  
for and on behalf of
Harris & Trotter LLP
 
Chartered Accountants
Statutory Auditors
  
101 New Cavendish Street
1st Floor South
London
W1W 6XH

30 January 2025
Page 8

 
VAMPETA LTD
 
 
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE PERIOD ENDED 31 JANUARY 2024

10 months ended
31 January
Year ended
5 April
2024
2023
Note
£
£

  

Turnover
 3 
5,659,215
6,582,819

Cost of sales
  
(1,987,941)
(2,195,911)

Gross profit
  
3,671,274
4,386,908

Administrative expenses
  
(3,559,507)
(3,426,101)

Exceptional administrative expenses
  
(12,703)
-

Other operating income
 4 
80
(366)

Operating profit
 5 
99,144
960,441

Interest payable and similar expenses
 8 
(1,399)
(1,608)

Profit before taxation
  
97,745
958,833

Tax on profit
 9 
(96,669)
(193,648)

Profit for the financial period
  
1,076
765,185

  

Total comprehensive income for the period
  
1,076
765,185

Profit for the period attributable to:
  

Non-controlling interests
  
1,546
152,080

Owners of the parent Company
  
(470)
613,105

  
1,076
765,185

Total comprehensive income for the period attributable to:
  

Non-controlling interest
  
1,546
152,080

Owners of the parent Company
  
(470)
613,105

  
1,076
765,185

The notes on pages 19 to 41 form part of these financial statements.

Page 9

 
VAMPETA LTD
REGISTERED NUMBER: 11176317

CONSOLIDATED BALANCE SHEET
AS AT 31 JANUARY 2024

31 January
5 April
2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 11 
1,778
3,049

Tangible assets
 12 
1,510,081
1,451,760

Investments
 13 
157,882
131,865

  
1,669,741
1,586,674

Current assets
  

Stocks
 14 
30,150
40,000

Debtors
 15 
2,010,088
270,711

Cash at bank and in hand
 16 
630,262
2,359,087

  
2,670,500
2,669,798

Creditors: amounts falling due within one year
 17 
(1,347,263)
(1,221,647)

Net current assets
  
 
 
1,323,237
 
 
1,448,151

Total assets less current liabilities
  
2,992,978
3,034,825

Net assets
  
2,992,978
3,034,825


Capital and reserves
  

Called up share capital 
 19 
20,002
20,002

Other reserves
 20 
(507,332)
(507,332)

Profit and loss account
 20 
3,296,423
3,339,818

Equity attributable to owners of the parent Company
  
2,809,093
2,852,488

Non-controlling interests
  
183,885
182,337

  
2,992,978
3,034,825


Page 10

 
VAMPETA LTD
REGISTERED NUMBER: 11176317
    
CONSOLIDATED BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2024

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




G D'Angelo
Director

Date: 30 January 2025

The notes on pages 19 to 41 form part of these financial statements.

Page 11

 
VAMPETA LTD
REGISTERED NUMBER: 11176317

COMPANY BALANCE SHEET
AS AT 31 JANUARY 2024

31 January
5 April
2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 12 
764
1,157

Investments
 13 
266,988
240,870

  
267,752
242,027

Current assets
  

Debtors
 15 
1,700,770
24,143

Cash at bank and in hand
 16 
41,226
1,214,447

  
1,741,996
1,238,590

Creditors: amounts falling due within one year
 17 
(233,576)
(269,487)

Net current assets
  
 
 
1,508,420
 
 
969,103

Total assets less current liabilities
  
1,776,172
1,211,130

  

  

Net assets excluding pension asset
  
1,776,172
1,211,130

Net assets
  
1,776,172
1,211,130


Capital and reserves
  

Called up share capital 
 19 
20,002
20,002

Profit and loss account
 20 
1,756,170
1,191,128

  
1,776,172
1,211,130


Page 12

 
VAMPETA LTD
REGISTERED NUMBER: 11176317
    
COMPANY BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2024

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 


G D'Angelo
Director

Date: 30 January 2025

The notes on pages 19 to 41 form part of these financial statements.

Page 13
 

 
VAMPETA LTD


 

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 JANUARY 2024



Called up share capital
Other reserves
Profit and loss account
Equity attributable to owners of parent Company
Non-controlling interests
Total equity


£
£
£
£
£
£



At 1 April 2022
-
(1,497,093)
2,730,713
1,233,620
1,020,019
2,253,639





Profit for the year
-
-
613,105
613,105
152,080
765,185


Dividends: Equity capital
-
-
(4,000)
(4,000)
-
(4,000)


Shares issued during the year
20,002
-
-
20,002
-
20,002


Transaction between owners
-
989,761
-
989,761
(989,761)
-





At 6 April 2023
20,002
(507,332)
3,339,818
2,852,488
182,338
3,034,826





Profit for the period
-
-
(470)
(470)
1,546
1,076


Dividends: Equity capital
-
-
(42,925)
(42,925)
-
(42,925)



At 31 January 2024
20,002
(507,332)
3,296,423
2,809,093
183,884
2,992,977



The notes on pages 19 to 41 form part of these financial statements.

Page 14
 
VAMPETA LTD
 

COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 JANUARY 2024


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 April 2022
-
1,200,686
1,200,686



Loss for the year
-
(5,558)
(5,558)

Dividends: Equity capital
-
(4,000)
(4,000)

Shares issued during the year
20,002
-
20,002



At 6 April 2023
20,002
1,191,128
1,211,130



Profit for the period
-
573,042
573,042

Dividends: Equity capital
-
(8,000)
(8,000)


At 31 January 2024
20,002
1,756,170
1,776,172


The notes on pages 19 to 41 form part of these financial statements.

Page 15

 
VAMPETA LTD
 

CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE PERIOD ENDED 31 JANUARY 2024

10 months ended
31 January
Year ended
5 April
2024
2023
£
£

Cash flows from operating activities

Profit for the financial period
1,076
765,185

Adjustments for:

Exceptional items
12,703
-

Amortisation of intangible assets
1,271
-

Depreciation of tangible assets
244,975
182,877

Interest paid
1,399
-

Taxation charge
96,669
193,648

(Increase) in stocks
(9,850)
(10,000)

(Increase)/decrease in debtors
(1,646,759)
2,267,480

Increase/(decrease) in creditors
221,023
(1,626,734)

Corporation tax (paid)
(172,489)
(241,023)

Net cash generated from operating activities

(1,249,982)
1,531,433


Cash flows from investing activities

Purchase of tangible fixed assets
(388,658)
(1,118,450)

Purchase of unlisted and other investments
(26,017)
(101,665)

Net cash from investing activities

(414,675)
(1,220,115)

Cash flows from financing activities

Dividends paid
(8,000)
(4,000)

Interest paid
(1,399)
(1,608)

Dividends paid to non-controlling interests
(34,925)
(9,000)

Other transactions with members
-
(837,681)

Net cash used in financing activities
(44,324)
(852,289)

Net (decrease) in cash and cash equivalents
(1,708,981)
(540,971)

Cash and cash equivalents at beginning of period
2,339,243
2,880,214

Cash and cash equivalents at the end of period
630,262
2,339,243


Cash and cash equivalents at the end of period comprise:

Cash at bank and in hand
630,262
2,359,087

Bank overdrafts
-
(19,844)
Page 16

 
VAMPETA LTD
 

CONSOLIDATED STATEMENT OF CASH FLOWS (CONTINUED)
FOR THE PERIOD ENDED 31 JANUARY 2024

10 months ended
31 January
Year ended
5 April

2024
2023

£
£


630,262
2,339,243


The notes on pages 19 to 41 form part of these financial statements.

Page 17

 
VAMPETA LTD
 

CONSOLIDATED ANALYSIS OF NET DEBT
FOR THE PERIOD ENDED 31 JANUARY 2024




At 6 April 2023
Cash flows
At 31 January 2024
£

£

£

Cash at bank and in hand

2,359,087

(1,728,825)

630,262

Bank overdrafts

(19,844)

19,844

-

Debt due within 1 year

(1,201,803)

(145,460)

(1,347,263)


1,137,440
(1,854,441)
(717,001)

The notes on pages 19 to 41 form part of these financial statements.

Page 18

 
VAMPETA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2024

1.


General information

Vampeta Ltd is a private company limited by shares and incorporated in England & Wales (registered number 14097506). The registered office is 101 New Cavendish Street, 1st Floor South, London, United Kingdom, W1W 6XH.

2.Accounting policies

 
2.1

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Group management to exercise judgment in applying the Group's accounting policies.

The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of Comprehensive Income in these financial statements.

The following principal accounting policies have been applied:

 
2.2

Basis of consolidation

The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Balance Sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated Statement of Comprehensive Income from the date on which control is obtained. They are deconsolidated from the date control ceases.
In accordance with the transitional exemption available in FRS 102, the Group has chosen not to retrospectively apply the standard to business combinations that occurred before the date of transition to FRS 102.

 
2.3

Going concern

In assessing the ability of the company to operate as a going concern, management have evaluated current and forecasted operational results, and the solvency of the company. As a result, the directors have considered it apporpriate to prepare the financial statements on a going concern basis.

Page 19

 
VAMPETA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.4

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Consolidated Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

On consolidation, the results of overseas operations are translated into Sterling at rates approximating to those ruling when the transactions took place. All assets and liabilities of overseas operations are translated at the rate ruling at the reporting date. Exchange differences arising on translating the opening net assets at opening rate and the results of overseas operations at actual rate are recognised in other comprehensive income.

Page 20

 
VAMPETA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.5

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Group 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 Group has transferred the significant risks and rewards of ownership to the buyer;
the Group 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 Group 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.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Group will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.6

Operating leases: the Group as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Page 21

 
VAMPETA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.7

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

 
2.8

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Consolidated Statement of Comprehensive Income in the same period as the related expenditure.

 
2.9

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.

 
2.10

Borrowing costs

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

 
2.11

Pensions

Defined contribution pension plan

The Group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity. Once the contributions have been paid the Group 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 Balance Sheet. The assets of the plan are held separately from the Group in independently administered funds.

Page 22

 
VAMPETA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.12

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company and the Group operate and generate income.


 
2.13

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Group but are presented separately due to their size or incidence.

 
2.14

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of the Group's share of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Consolidated Statement of Comprehensive Income over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.15

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.

Page 23

 
VAMPETA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2024

2.Accounting policies (continued)


2.15
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Long-term leasehold property
-
Over the period of lease
Short-term leasehold property
-
Over the period of lease
Plant and machinery
-
20%
Straight line
Fixtures and fittings
-
20%
Straight line
Office equipment
-
20%
Straight line
Computer equipment
-
33%
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.

 
2.16

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Group shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Consolidated Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.17

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.18

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.

Page 24

 
VAMPETA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.19

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.

In the Consolidated Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Group's cash management.

 
2.20

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.

 
2.21

Financial instruments

The Group has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Group has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Group's Balance Sheet when the Group becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Group's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.
Page 25

 
VAMPETA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2024

2.Accounting policies (continued)


2.21
Financial instruments (continued)


Impairment of financial assets

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

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 Group after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans, other loans and loans due to fellow group companies are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Group transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Group will continue to recognise the value of the portion of the risks and rewards retained.
 

Page 26

 
VAMPETA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2024

2.Accounting policies (continued)


2.21
Financial instruments (continued)

Derecognition of financial liabilities

Financial liabilities are derecognised when the Group's contractual obligations expire or are discharged or cancelled.

 
2.22

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Turnover

An analysis of turnover by class of business is as follows:


10 months ended
31 January
Year ended
5 April
2024
2023
£
£

Food and beverage sales
5,659,215
6,582,819

5,659,215
6,582,819


Analysis of turnover by country of destination:

10 months ended
31 January
Year ended
5 April
2024
2023
£
£

United Kingdom
5,659,215
6,582,819

5,659,215
6,582,819


Page 27

 
VAMPETA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2024

4.


Other operating income

10 months ended
31 January
Year ended
5 April
2024
2023
£
£

Government grants receivable
80
(366)

80
(366)



5.


Operating profit

The operating profit is stated after charging:

10 months ended
31 January
Year ended
5 April
2024
2023
£
£

Research & development charged as an expense
12,500
-

Exchange differences
1,102
3,932

Other operating lease rentals
138,317
124,917


6.


Auditors' remuneration

During the period, the Group obtained the following services from the Company's auditors:


10 months ended
31 January
Year ended
5 April
2024
2023
£
£

Fees payable to the Company's auditors for the audit of the consolidated and parent Company's financial statements
52,950
-

Page 28

 
VAMPETA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2024

7.


Employees

Staff costs were as follows:


Group
31 January
Group
5 April
2024
2023
£
£

Wages and salaries
2,071,587
2,025,189

Social security costs
161,217
153,992

Cost of defined contribution scheme
31,475
20,765

2,264,279
2,199,946


The average monthly number of employees, including the directors, during the period was as follows:


  10 months ended
      31 January
       Year ended
         5 April
        2024
        2023
            No.
            No.







Directors and Employees
94
64

The Company has no employees other than the directors, who did not receive any remuneration (2023 - £NIL)

8.


Interest payable and similar expenses

10 months ended
31 January
Year ended
5 April
2024
2023
£
£


Bank interest payable
84
-

Other loan interest payable
-
1,281

Other interest payable
1,315
327

1,399
1,608

Page 29

 
VAMPETA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2024

9.


Taxation


10 months ended
31 January
Year ended
5 April
2024
2023
£
£

Corporation tax


Current tax on profits for the year
96,669
96,332

Adjustments in respect of previous periods
-
97,316


96,669
193,648


Total current tax
96,669
193,648

Deferred tax

Total deferred tax
-
-


Tax on profit
96,669
193,648
Page 30

 
VAMPETA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2024
 
9.Taxation (continued)


Factors affecting tax charge for the period/year

The tax assessed for the period is higher than (2023 - higher than) the standard rate of corporation tax in the UK of 25% (2023 - 19%). The differences are explained below:

10 months ended
31 January
Year ended
5 April
2024
2023
£
£


Profit on ordinary activities before tax
97,745
958,833


Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2023 - 19%)
24,436
182,178

Effects of:


Depreciation in excess of capital allowances
24,651
-

Expenses not deductible for tax purposes, other than goodwill amortisation and impairment
367
15,647

Capital allowances for period/year in excess of depreciation
-
(10,342)

Utilisation of tax losses
-
6,165

Adjustment for long accounting periods leading to an increase (decrease) in the tax charge
8,567
-

Group relief
38,648
-

Total tax charge for the period/year
96,669
193,648


Factors that may affect future tax charges

There are no factors affecting future tax charges.


10.


Exceptional items

10 months ended
31 January
Year ended
5 April
2024
2023
£
£


Petty cash write offs
12,703
-

12,703
-

Page 31

 
VAMPETA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2024

11.


Intangible assets

Group and Company







Goodwill

£



Cost


At 6 April 2023
3,049



At 31 January 2024

3,049



Amortisation


Charge for the period on owned assets
1,271



At 31 January 2024

1,271



Net book value



At 31 January 2024
1,778



At 5 April 2023
3,049



Page 32
 


 
VAMPETA LTD


 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2024


12.


Tangible fixed assets


Group










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

£
£
£
£
£
£
£



Cost or valuation


At 6 April 2023
1,207,121
162,948
24,469
450,339
14,519
116,435
1,975,831


Additions
241,102
1,250
29,205
50,758
10,702
5,641
338,658



At 31 January 2024

1,448,223
164,198
53,674
501,097
25,221
122,076
2,314,489



Depreciation


At 6 April 2023
139,083
41,478
11,762
293,134
13,742
24,870
524,069


Charge for the period on owned assets
170,809
10,870
6,634
74,141
4,304
13,581
280,339



At 31 January 2024

309,892
52,348
18,396
367,275
18,046
38,451
804,408



Net book value



At 31 January 2024
1,138,331
111,850
35,278
133,822
7,175
83,625
1,510,081



At 5 April 2023
1,068,037
121,471
12,706
157,204
777
91,565
1,451,760

Page 33
 
VAMPETA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2024

           12.Tangible fixed assets (continued)




The net book value of land and buildings may be further analysed as follows:


31 January
5 April
2024
2023
£
£

Long leasehold
1,138,330
1,068,036

Short leasehold
111,851
121,471

1,250,181
1,189,507


Page 34

 
VAMPETA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2024

           12.Tangible fixed assets (continued)


Company









Fixtures and fittings
Office equipment
Computer equipment
Total

£
£
£
£

Cost or valuation


At 6 April 2023
496
1,122
738
2,356



At 31 January 2024

496
1,122
738
2,356



Depreciation


At 6 April 2023
116
554
529
1,199


Charge for the period on owned assets
83
187
123
393



At 31 January 2024

199
741
652
1,592



Net book value



At 31 January 2024
297
381
86
764



At 5 April 2023
380
568
209
1,157





The net book value of land and buildings may be further analysed as follows:




Page 35

 
VAMPETA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2024

13.


Fixed asset investments

Group








Investments in subsidiary companies
Unlisted investments
Total

£
£
£



Cost or valuation


At 6 April 2023
121,865
10,000
131,865


Additions
-
26,017
26,017



At 31 January 2024
121,865
36,017
157,882




Company








Investments in subsidiary companies
Unlisted investments
Total

£
£
£



Cost or valuation


At 6 April 2023
230,870
10,000
240,870


Additions
101
26,017
26,118



At 31 January 2024
230,971
36,017
266,988




Page 36

 
VAMPETA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2024

Subsidiary undertakings


The following were subsidiary undertakings of the Company:

Name

Registered office

Class of shares

Holding

Zia Lucia Group Holdings Limited
101 New Cavendish St, London, W1W 6XH
Ordinary
94.5%
Zia Lucia Holdings Limited
101 New Cavendish St, London, W1W 6XH
Ordinary
94.5%
Gazzosa Holdings Limited
101 New Cavendish St, London, W1W 6XH
Ordinary
94.5%
Gazzosa Holloway Limited
101 New Cavendish St, London, W1W 6XH
Ordinary
94.5%
Zia Lucia Limited
101 New Cavendish St, London, W1W 6XH
Ordinary
94.5%
Zia Lucia 1 Limited
101 New Cavendish St, London, W1W 6XH
Ordinary
94.5%
Zia Lucia 2 Limited
101 New Cavendish St, London, W1W 6XH
Ordinary
94.5%
Zia Lucia Aldgate Limited
101 New Cavendish St, London, W1W 6XH
Ordinary
94.5%
Zia Lucia WW Limited
101 New Cavendish St, London, W1W 6XH
Ordinary
94.5%
Zia Lucia Canary Wharf Limited
101 New Cavendish St, London, W1W 6XH
Ordinary
94.5%
Zia Lucia Balham Limited
101 New Cavendish St, London, W1W 6XH
Ordinary
94.5%
Zia Lucia Stoke Newington Limited
101 New Cavendish St, London, W1W 6XH
Ordinary
94.5%
Zia Lucia Reading Limited
101 New Cavendish St, London, W1W 6XH
Ordinary
94.5%
Zia Lucia Fulham Limited
101 New Cavendish St, London, W1W 6XH
Ordinary
94.5%

Page 37

 
VAMPETA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2024
Subsidiary undertakings (continued)

The aggregate of the share capital and reserves as at 31 January 2024 and the profit or loss for the period ended on that date for the subsidiary undertakings were as follows:

Name
Aggregate of share capital and reserves
Profit/(Loss)
£
£

Zia Lucia Group Holdings Limited
159,989
632,584

Zia Lucia Holdings Limited
33,626
634,192

Gazzosa Holdings Limited
208,940
-

Gazzosa Holloway Limited
(37,207)
25,228

Zia Lucia Limited
617,964
(67,786)

Zia Lucia 1 Limited
689,392
69,523

Zia Lucia 2 Limited
93,524
(3,426)

Zia Lucia Aldgate Limited
950,308
115,091

Zia Lucia WW Limited
325,515
(1,204)

Zia Lucia Canary Wharf Limited
134,024
3,387

Zia Lucia Balham Limited
47,497
(38,579)

Zia Lucia Stoke Newington Limited
23,401
(55,059)

Zia Lucia Reading Limited
(22,591)
(22,691)

Zia Lucia Fulham Limited
1
-

Page 38

 
VAMPETA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2024

14.


Stocks

Group
31 January
Group
5 April
2024
2023
£
£

Work in progress (goods to be sold)
2,103
5,000

Finished goods and goods for resale
28,047
35,000

30,150
40,000


The difference between purchase price or production cost of stocks and their replacement cost is not material.


15.


Debtors

Group
31 January
Group
5 April
Company

31 January
Company
5 April
2024
2023
2024
2023
£
£
£
£



Trade debtors
41,237
29,861
-
-

Other debtors
1,860,872
130,896
1,700,513
24,143

Prepayments and accrued income
107,722
109,954
-
-

Tax recoverable
257
-
257
-

2,010,088
270,711
1,700,770
24,143



16.


Cash and cash equivalents

Group
31 January
Group
5 April
Company
31 January
Company
5 April
2024
2023
2024
2023
£
£
£
£

Cash at bank and in hand
630,262
2,359,087
41,226
1,214,447

Less: bank overdrafts
-
(19,844)
-
-

630,262
2,339,243
41,226
1,214,447


Page 39

 
VAMPETA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2024

17.


Creditors: Amounts falling due within one year

Group
31 January
Group
5 April
Company
31 January
Company
5 April
2024
2023
2024
2023
£
£
£
£

Bank overdrafts
-
19,844
-
-

Trade creditors
268,281
306,806
441
55,164

Amounts owed to group companies
-
-
80,887
79,087

Corporation tax
96,669
172,232
-
-

Other taxation and social security
292,534
178,589
-
-

Other creditors (incl directors loans)
372,135
293,936
142,848
133,236

Accruals and deferred income
317,644
250,240
9,400
2,000

1,347,263
1,221,647
233,576
269,487



18.


Financial instruments

Group
31 January
Group
5 April
Company
31 January
Company
5 April
2024
2023
2024
2023
£
£
£
£

Financial assets

Financial assets measured at fair value through profit or loss
630,262
2,359,087
41,226
1,214,447

Financial assets that are debt instruments measured at amortised cost
1,092,366
160,757
1,700,770
24,143

1,722,628
2,519,844
1,741,996
1,238,590


Financial liabilities

Financial liabilities measured at amortised cost
1,029,619
971,407
224,176
267,487


Financial assets measured at fair value through profit or loss comprise cash at bank and in hand.


Financial assets that are debt instruments measured at amortised cost comprise trade and other debtors and amounts owed by group undertakings.


Financial assets that are equity instruments measured at cost less impairment comprise trade creditors, other creditors, bank loans, bank overdraft, amounts owed to group undertakings and accruals.

Page 40

 
VAMPETA LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2024

19.


Share capital

31 January
5 April
2024
2023
£
£
Allotted, called up and fully paid



10,001 (2023 - 10,001) A Ordinary shares of £1.00 each
10,001
10,001
10,001 (2023 - 10,001) B Ordinary shares of £1.00 each
10,001
10,001

20,002

20,002



20.


Reserves

Consolidation Reserve

This relates to the transaction between owners that occurred in FY23 (Reduction of non-controlling interest from 40% to 5.5%).

Profit and loss account

Includes all current and prior period retained profits and losses.


21.


Pension commitments

The Group operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Group  in an independently administered fund. The pension cost charge represents contributions payable by the Group  to the fund and amounted to £31,475 (2023 - £20,765). Contributions totalling £22,564 (2023 - £9,707) were payable to the fund at the balance sheet date and are included in creditors.


22.


Commitments under operating leases

At 31 January 2024 the Group and the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:


Group
31 January
Group
5 April
2024
2023
£
£

Not later than 1 year
315,250
315,250

Later than 1 year and not later than 5 years
1,588,750
1,588,750

Later than 5 years
1,532,063
1,847,312

3,436,063
3,751,312
 
Page 41