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REGISTERED NUMBER: 08598748 (England and Wales)















BITANDPIECES VAPE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024






BITANDPIECES VAPE LIMITED (REGISTERED NUMBER: 08598748)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024










Page

Company Information 1

Chartered Accountants' Report 2

Statement of Financial Position 3

Notes to the Financial Statements 5


BITANDPIECES VAPE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2024







DIRECTOR: Mr M Coll-Bosada





REGISTERED OFFICE: 15-17 Church Street
Stourbridge
West Midlands
DY8 1LU





REGISTERED NUMBER: 08598748 (England and Wales)





ACCOUNTANTS: Folkes Worton LLP
15-17 Church Street
Stourbridge
West Midlands
DY8 1LU

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
BITANDPIECES VAPE LIMITED (REGISTERED NUMBER: 08598748)


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Bitandpieces Vape Limited for the year ended 31 July 2024 which comprise the Income Statement, Statement of Financial Position, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Bitandpieces Vape Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Bitandpieces Vape Limited and state those matters that we have agreed to state to the director of Bitandpieces Vape Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Bitandpieces Vape Limited and its director for our work or for this report.

It is your duty to ensure that Bitandpieces Vape Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Bitandpieces Vape Limited. You consider that Bitandpieces Vape Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Bitandpieces Vape Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Folkes Worton LLP
15-17 Church Street
Stourbridge
West Midlands
DY8 1LU


10 February 2025

BITANDPIECES VAPE LIMITED (REGISTERED NUMBER: 08598748)

STATEMENT OF FINANCIAL POSITION
31 JULY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 305,186 105,051

CURRENT ASSETS
Stocks 9,160 48,740
Debtors 5 15,791 5,979
Cash at bank and in hand 19,121 30,775
44,072 85,494
CREDITORS
Amounts falling due within one year 6 83,788 107,907
NET CURRENT LIABILITIES (39,716 ) (22,413 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

265,470

82,638

CREDITORS
Amounts falling due after more than one
year

7

(898

)

(19,057

)

PROVISIONS FOR LIABILITIES (51,297 ) (960 )
NET ASSETS 213,275 62,621

CAPITAL AND RESERVES
Called up share capital 1 1
Fair value reserve 8 150,000 -
Retained earnings 63,274 62,620
SHAREHOLDERS' FUNDS 213,275 62,621

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

BITANDPIECES VAPE LIMITED (REGISTERED NUMBER: 08598748)

STATEMENT OF FINANCIAL POSITION - continued
31 JULY 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 10 February 2025 and were signed by:





Mr M Coll-Bosada - Director


BITANDPIECES VAPE LIMITED (REGISTERED NUMBER: 08598748)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024


1. STATUTORY INFORMATION

Bitandpieces Vape Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents net sales of goods/services, excluding value added tax

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 9 ) .

BITANDPIECES VAPE LIMITED (REGISTERED NUMBER: 08598748)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST OR VALUATION
At 1 August 2023 100,000 16,206 4,990 5,785 126,981
Additions - - - 2,149 2,149
Revaluations 200,000 - - - 200,000
At 31 July 2024 300,000 16,206 4,990 7,934 329,130
DEPRECIATION
At 1 August 2023 - 12,737 3,807 5,386 21,930
Charge for year - 868 296 850 2,014
At 31 July 2024 - 13,605 4,103 6,236 23,944
NET BOOK VALUE
At 31 July 2024 300,000 2,601 887 1,698 305,186
At 31 July 2023 100,000 3,469 1,183 399 105,051

Cost or valuation at 31 July 2024 is represented by:

Fixtures
Freehold and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
Valuation in 2024 200,000 - - - 200,000
Cost 100,000 16,206 4,990 7,934 129,130
300,000 16,206 4,990 7,934 329,130

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 15,791 5,979

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 1,054 10,043
Trade creditors 2,619 55,604
Taxation and social security 51,634 27,359
Other creditors 28,481 14,901
83,788 107,907

BITANDPIECES VAPE LIMITED (REGISTERED NUMBER: 08598748)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 898 19,057

8. RESERVES
Fair
value
reserve
£   
Restatement to fair value 150,000

At 31 July 2024 150,000

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 July 2024 and 31 July 2023:

2024 2023
£    £   
Mr M Coll-Bosada
Balance outstanding at start of year - -
Amounts advanced 103,619 -
Amounts repaid (94,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 9,619 -

10. RELATED PARTY DISCLOSURES

The director and owner of Bitandpieces Vape Limited is also director and owner of Mchomebrews Limited.

At the statement of financial position date, Bitandpieces Vape Limited owed £27,852 (2023: £10,067) to Mchomebrews Limited.

11. ULTIMATE CONTROLLING PARTY

The controlling party is Mr M Coll-Bosada.