Caseware UK (AP4) 2023.0.135 2023.0.135 122023-04-01falseRetail sale of cosmetic and toilet articles.26falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false NI659316 2023-04-01 2024-03-31 NI659316 2022-04-01 2023-03-31 NI659316 2024-03-31 NI659316 2023-03-31 NI659316 c:Director1 2023-04-01 2024-03-31 NI659316 c:Director2 2023-04-01 2024-03-31 NI659316 c:RegisteredOffice 2023-04-01 2024-03-31 NI659316 c:Agent1 2023-04-01 2024-03-31 NI659316 d:PlantMachinery 2023-04-01 2024-03-31 NI659316 d:OfficeEquipment 2023-04-01 2024-03-31 NI659316 d:OfficeEquipment 2024-03-31 NI659316 d:OfficeEquipment 2023-03-31 NI659316 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 NI659316 d:CurrentFinancialInstruments 2024-03-31 NI659316 d:CurrentFinancialInstruments 2023-03-31 NI659316 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 NI659316 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 NI659316 d:ShareCapital 2024-03-31 NI659316 d:ShareCapital 2023-03-31 NI659316 d:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 NI659316 d:RetainedEarningsAccumulatedLosses 2024-03-31 NI659316 d:RetainedEarningsAccumulatedLosses 2023-03-31 NI659316 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 NI659316 c:OrdinaryShareClass1 2023-04-01 2024-03-31 NI659316 c:OrdinaryShareClass1 2024-03-31 NI659316 c:OrdinaryShareClass1 2023-03-31 NI659316 c:FRS102 2023-04-01 2024-03-31 NI659316 c:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 NI659316 c:FullAccounts 2023-04-01 2024-03-31 NI659316 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 NI659316 e:PoundSterling 2023-04-01 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure

Unaudited Financial Statements
VODUZ LTD
For the year ended 31 March 2024





































Registered number: NI659316

 
VODUZ LTD
 

Company Information


Directors
Brendan McDowell 
Denise McLean 




Registered number
NI659316



Registered office
Block E Knockmore Industrial Estate
Moira Road

Lisburn

Northern Ireland

BT28 2EJ




Accountants
Grant Thornton Advisors (NI) LLP
Chartered Accountants

12 - 15 Donegall Square West

Belfast

BT1 6JH




Bankers
Ulster Bank
11-16 Donegall Square East

Belfast

BT1 5HD




Solicitors
A&L Goodbody Northern Ireland
42-46 Fountain Street

Belfast

Antrim

BT1 5EF





 
VODUZ LTD
 

Contents



Page
Accountants' Report
1
Balance Sheet
2 - 3
Notes to the Financial Statements
4 - 12


  
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Independent Accountant's Report to the directors of the unaudited financial statements of VODUZ LTD for the year ended 31 March 2024

In order to assist you fulfil your duties under the Companies Act 2006, we have compiled the financial statements of VODUZ LTD for the year ended 31 March 2024, which comprise the Statement of Comprehensive Income, the Balance Sheet and the related notes to the financial statements, including a summary of significant accounting policies, from the company's accounting records and from information and explanations you have given to us.

The financial statements have been prepared on the basis set out in the notes to the financial statements. 
 
This report is made solely to the directors of VODUZ LTD, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely that we might compile the financial statements that we have been engaged to compile, report to the company's directors that we have done so and state those matters that we have agreed to state to the directors of VODUZ LTD, as a body, in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than VODUZ LTD and its directors, as a body, for our work or for this report.

We have carried out this engagement in accordance with International Standard on Related Services 4410  (Revised) Compilation Engagements issued by the International Auditing and Assurance Standards Board  (the ‘IAASB’’) and have complied with the ethical guidance laid down by the IESBA Code and Chartered  Accountants Ireland relating to members undertaking the compilation of financial statements. 

You have approved the financial statements for the year ended 31 March 2024 and you have acknowledged on the Balance Sheet as at 31 March 2024 your duty to ensure that VODUZ LTD has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view in accordance with the Companies Act 2006. You consider that VODUZ LTD is exempt from the statutory audit requirement for the year ended 31 March 2024.

We have not been instructed to carry out an audit or review the financial statements of VODUZ LTD. 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. 




  


Grant Thornton Advisors (NI) LLP

Chartered Accountants
12 - 15 Donegall Square West
Belfast
BT1 6JH







Date:   25 February 2025
Page 1

 
VODUZ LTD
Registered number:NI659316

Balance Sheet
As at 31 March 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
46,357
21,792

  
46,357
21,792

Current assets
  

Stocks
 6 
588,619
864,795

Debtors: amounts falling due within one year
 7 
566,162
152,931

Cash at bank and in hand
 8 
437,508
320,319

  
1,592,289
1,338,045

Creditors: amounts falling due within one year
 9 
(889,202)
(906,606)

Net current assets
  
 
 
703,087
 
 
431,439

Total assets less current liabilities
  
749,444
453,231

Provisions for liabilities
  

Deferred tax liability
  
(11,589)
-

  
 
 
(11,589)
 
 
-

Net assets
  
737,855
453,231


Capital and reserves
  

Called up share capital 
 11 
100
100

Profit and loss account
 12 
737,755
453,131

  
737,855
453,231


Page 2

 
VODUZ LTD
Registered number:NI659316

Balance Sheet (continued)
As at 31 March 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 25 February 2025.




Brendan McDowell
Director

The notes on pages 4 to 12 form part of these financial statements.

Page 3

 
VODUZ LTD
 
 
Notes to the Financial Statements
For the year ended 31 March 2024

1.


General information

VODUZ LTD is a private company limited by shares incorporated in Northern Ireland. The registered office is Block E Knockmore Industrial Estate, Moira Road, Lisburn, Northern Ireland, BT28 2EJ.
The principal activity of the company continued to be that of retail sale of cosmetic and toilet articles.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).
The financial statements are presented in Sterling (£).

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors have assessed that there are adequate resources to meet the ongoing costs of the business for a minimum of 12 months from the date of signing the financial statements. For this reason the financial statements have been prepared on a going concern basis which presumes the realisation of assets and liabilities in the normal course of business.

Page 4

 
VODUZ LTD
 

Notes to the Financial Statements
For the year ended 31 March 2024

2.Accounting policies (continued)

 
2.3

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 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'.

Page 5

 
VODUZ LTD
 

Notes to the Financial Statements
For the year ended 31 March 2024

2.Accounting policies (continued)

 
2.4

Revenue

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

 
2.5

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.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company 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 Company in independently administered funds.

Page 6

 
VODUZ LTD
 

Notes to the Financial Statements
For the year ended 31 March 2024

2.Accounting policies (continued)

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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 operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.8

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.

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:

Plant and machinery
-
20%
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.

Page 7

 
VODUZ LTD
 

Notes to the Financial Statements
For the year ended 31 March 2024

2.Accounting policies (continued)

 
2.9

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 first in, first out 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.

 
2.10

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.

 
2.11

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.

 
2.12

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.

 
2.13

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 8

 
VODUZ LTD
 
 
Notes to the Financial Statements
For the year ended 31 March 2024

3.


Judgments in applying accounting policies and key sources of estimation uncertainty

Estimates and judgements are required when applying accounting policies. These are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
The company makes estimates and assumptions concerning the future, which can involve a high degree of judgement or complexity. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below:
Recoverability of debtors
Estimates are made in respect of the recoverable value of trade and other debtors. When assessing the level of provisions required, factors including current trading experience, historical experience and the ageing profile of debtors are considered.
Useful economic lives of tangible assets
The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on future investments, economic utilisation and the physical condition of the assets. 
Carrying value of stock
Stock represents goods for resale and is measured at the lower of cost and net realisable value. Net realisable value is the estimated selling price in the ordinary course of business, less the estimated costs necessary to make the sale. Provision is made for obsolete and slow moving stock based on historical experience.


4.


Employees

The average monthly number of employees, including directors, during the year was 26 (2023 - 12).

Page 9

 
VODUZ LTD
 
 
Notes to the Financial Statements
For the year ended 31 March 2024

5.


Tangible fixed assets





Plant and machinery

£



Cost or valuation


At 1 April 2023
29,510


Additions
37,921



At 31 March 2024

67,431



Depreciation


At 1 April 2023
7,718


Charge for the year
13,356



At 31 March 2024

21,074



Net book value



At 31 March 2024
46,357



At 31 March 2023
21,792


6.


Stocks

2024
2023
£
£

Finished goods and goods for resale
588,619
864,795

588,619
864,795


7.


Debtors

2024
2023
£
£


Trade debtors
298,900
85,910

Prepayments and accrued income
267,262
67,021

566,162
152,931


Page 10

 
VODUZ LTD
 
 
Notes to the Financial Statements
For the year ended 31 March 2024

8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
437,508
320,319

437,508
320,319



9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
140,178
33,382

Amounts owed to related parties
543,089
770,557

Corporation tax
91,146
23,110

Other taxation and social security
79,065
43,215

Other creditors
28,074
28,692

Accruals and deferred income
7,650
7,650

889,202
906,606



10.


Deferred tax liability



2024


£






Charged to profit or loss
11,589



At end of year
11,589

The deferred taxation balance is made up as follows:

2024
£


Accelerated capital allowances
11,589

11,589

Page 11

 
VODUZ LTD
 
 
Notes to the Financial Statements
For the year ended 31 March 2024

11.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1.00 each
100
100



12.


Reserves

Profit and loss account

Includes all current and prior period retained profits and losses.


13.


Related party transactions

During the year the company had a trading relationship with a company related by virtue of common directorship. The net supply of goods and services in the year was £29,433.  At the balance sheet date, the amount owed to the related party was £58,464 (2023: £87,897). The balance is unsecured, interest free and repayable upon demand.
During the year the company had a trading relationship with a company related by virtue of common directorship. The net supply of goods and services in the year was £198,035.  At the balance sheet date, the amount owed to the related party was £484,625 (2023: £682,660). The balance is unsecured, interest free and repayable upon demand.


14.


Controlling party

The company is controlled by the directors.


Page 12