AAM Vapes Ltd
Registered number: 15014095
Balance Sheet
as at 31 July 2024
Notes 2024
£
Fixed assets
Tangible assets 3 27,002
Current assets
Stocks 4,000
Cash at bank and in hand 1,833
5,833
Creditors: amounts falling due within one year 4 (49,903)
Net current liabilities (44,070)
Net liabilities (17,068)
Capital and reserves
Called up share capital 1
Profit and loss account (17,069)
Shareholder's funds (17,068)
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 her 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.
Amena Patel
Director
Approved by the board on 2 September 2024
AAM Vapes Ltd
Notes to the Accounts
for the period from 19 July 2023 to 31 July 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.
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:
Plant and machinery over 5 years
Fixtures and fittings over 5 years
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024
Number
Average number of persons employed by the company 1
3 Tangible fixed assets
Plant & machinery Fixtures & fittings Total
£ £ £
Cost
Additions 5,975 27,100 33,075
At 31 July 2024 5,975 27,100 33,075
Depreciation
Charge for the period 1,195 4,878 6,073
At 31 July 2024 1,195 4,878 6,073
Net book value
At 31 July 2024 4,780 22,222 27,002
4 Creditors: amounts falling due within one year 2024
£
Accruals 500
Director's loan account 49,403
49,903
5 Profit and loss account 2024
£
At 19 July 2023 -
Profit/(loss) for the year (17,069)
Dividends -
At 31 July 2024 (17,069)
6 Dividends 2024
£
Dividends for which the company became liable during the year:
Dividends paid -
-
7 Related party transactions
Included within the creditors at the year end is £49,403 due to Mrs A Patel, the company director. During the period the company paid £2,753 of expenses on behalf of the director and the director introduced £52,156.
8 Controlling party
The ultimate controlling party is the director and sole shareholder Mrs A Patel.
9 Other information
AAM Vapes Ltd is a private company limited by shares and incorporated in England. Its registered office is:
27 Stanleyfield
Preston
Lancashire
PR1 1QL
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