Company Registration No. 09166184 (England and Wales)
Time2Vape Limited
Unaudited accounts
for the year ended 31 May 2024
Time2Vape Limited
Unaudited accounts
Contents
Time2Vape Limited
Company Information
for the year ended 31 May 2024
Directors
Stewart Smith
Mark Smith
Lauren Smith
Charlotte Smith
Oliver Pringle
Company Number
09166184 (England and Wales)
Registered Office
4B Lynx Business Park
Snailwell
Newmarket
CB8 7NY
United Kingdom
Accountants
TFA Partners Ltd
4B Lynx Business Park
Fordham Road
Snailwell
Newmarket
Cambridgeshire
CB8 7NY
Time2Vape Limited
Statement of financial position
as at 31 May 2024
Intangible assets
12,000
7,500
Tangible assets
275,988
493,155
Inventories
532,674
553,947
Cash at bank and in hand
983,461
689,728
Creditors: amounts falling due within one year
(707,308)
(543,857)
Net current assets
924,875
825,939
Total assets less current liabilities
1,212,863
1,326,594
Creditors: amounts falling due after more than one year
(51,735)
(96,478)
Net assets
1,161,128
1,230,116
Called up share capital
2
2
Profit and loss account
1,161,126
1,230,114
Shareholders' funds
1,161,128
1,230,116
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 17 June 2024 and were signed on its behalf by
Oliver Pringle
Director
Company Registration No. 09166184
Time2Vape Limited
Notes to the Accounts
for the year ended 31 May 2024
Time2Vape Limited is a private company, limited by shares, registered in England and Wales, registration number 09166184. The registered office is 4B Lynx Business Park, Snailwell, Newmarket, CB8 7NY, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets policy
Where relevant in the period, depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Other
Time2Vape Limited
Notes to the Accounts
for the year ended 31 May 2024
5
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 June 2023
36,416
426,132
194,723
13,570
670,841
Additions
1,494
-
20,038
1,910
23,442
Disposals
-
(106,900)
-
-
(106,900)
At 31 May 2024
37,910
319,232
214,761
15,480
587,383
At 1 June 2023
14,711
39,614
118,425
4,936
177,686
Charge for the year
4,640
57,869
19,266
2,109
83,884
On disposals
-
49,825
-
-
49,825
At 31 May 2024
19,351
147,308
137,691
7,045
311,395
At 31 May 2024
18,559
171,924
77,070
8,435
275,988
At 31 May 2023
21,705
386,518
76,298
8,634
493,155
Amounts falling due within one year
Trade debtors
62,967
19,501
Accrued income and prepayments
18,000
-
Other debtors
35,081
38,181
Amounts falling due after more than one year
Accrued income and prepayments
-
68,439
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
10,000
10,000
Obligations under finance leases and hire purchase contracts
12,000
28,200
Taxes and social security
353,707
127,686
Loans from directors
81,702
196,435
8
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
41,735
76,886
Time2Vape Limited
Notes to the Accounts
for the year ended 31 May 2024
Allotted, called up and fully paid:
200 Ordinary shares of £0.01 each
2
2
10
Transactions with related parties
Rent charged to Time2Vape Limited in the period of £7,400 from Thoroughbred Developments Limited, a company under common control.
11
Average number of employees
During the year the average number of employees was 40 (2023: 40).