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REGISTERED NUMBER: 06581897 (England and Wales)









VPAR LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

1 APRIL 2023 TO 30 SEPTEMBER 2024






VPAR LIMITED (REGISTERED NUMBER: 06581897)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 APRIL 2023 TO 30 SEPTEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


VPAR LIMITED

COMPANY INFORMATION
FOR THE PERIOD 1 APRIL 2023 TO 30 SEPTEMBER 2024







DIRECTORS: Mr J S Sykes
Mr J Stoop
Mr J D Bolsover





REGISTERED OFFICE: Rosedale Studios
Rosedale Road
Richmond
London
TW9 2SX





REGISTERED NUMBER: 06581897 (England and Wales)





ACCOUNTANTS: Morris Crocker
Chartered Accountants
Station House
North Street
Havant
Hampshire
PO9 1QU

VPAR LIMITED (REGISTERED NUMBER: 06581897)

BALANCE SHEET
30 SEPTEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 298,145 201,601
Tangible assets 5 1,688 771
Investments 6 600 600
300,433 202,972

CURRENT ASSETS
Debtors 7 597,640 711,554
Cash at bank 35,872 28,226
633,512 739,780
CREDITORS
Amounts falling due within one year 8 1,433,450 1,367,630
NET CURRENT LIABILITIES (799,938 ) (627,850 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(499,505

)

(424,878

)

CREDITORS
Amounts falling due after more than one
year

9

28,750

36,250
NET LIABILITIES (528,255 ) (461,128 )

CAPITAL AND RESERVES
Called up share capital 281 281
Share premium 6,069,180 6,069,180
Retained earnings (6,597,716 ) (6,530,589 )
SHAREHOLDERS' FUNDS (528,255 ) (461,128 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

VPAR LIMITED (REGISTERED NUMBER: 06581897)

BALANCE SHEET - continued
30 SEPTEMBER 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 Board of Directors and authorised for issue on 20 March 2025 and were signed on its behalf by:





Mr J S Sykes - Director


VPAR LIMITED (REGISTERED NUMBER: 06581897)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 APRIL 2023 TO 30 SEPTEMBER 2024

1. STATUTORY INFORMATION

VPAR 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.

The company made a loss of £203,534 for the year ended 30 September 2024 (2023: loss £111,562 ). The company has net current liabilities of £799,938 (2023: £627,850) and total net liabilities of £528,255 (2023: net liabilities of £461,128). The net current liabilities position includes balances owed to directors.The directors have expressed their intention not to seek repayment of the amounts owed until the company has the resources to do so. The directors are confident that the investment in designing and marketing the product will generate profit for the company. On this basis the directors considers it appropriate for these financial statements to be prepared on a going concern basis.

Turnover
Turnover represents net invoiced sales of goods/services, excluding value added tax. Revenues are recognised when the event occurs. Any revenues received prior to the event are recognised in the accounts as deferred income.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

App Creation is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties and investments in non-puttable ordinary shares.

Trade and other 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

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, deposits with banks and other short-term highly liquid investments and bank overdrafts. In the balance sheet, bank overdrafts are shown within borrowings or current liabilities.

Trade and other creditors
Short term trade 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

VPAR LIMITED (REGISTERED NUMBER: 06581897)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 APRIL 2023 TO 30 SEPTEMBER 2024

2. ACCOUNTING POLICIES - continued

Taxation
Taxation for the period 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 period 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Share based payments
The company operates an equity settled share-based payment arrangement, under which the company receives services from employees of the group. Equity settled share-based payments are measured at fair value at the date of the grant. The fair value determined at the grant date is recognised as an expense on a straight line basis over the vesting period.

Service and performance conditions are vesting conditions. Cancellations are treated as accelerated vesting and all remaining future charges are immediately recognised in the income statement. Awards that lapse or are forfeited result in a credit to the income statement (reversing all previously recognised charges) in the year in which they lapse or are forfeited.

Change of year end
The financial statements have been prepared for the Longer period of 18 months and therefore the amounts presented in the financial statements (including the related notes) are not entirely comparable with the previous period of 12 months.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 4 (2023 - 5 ) .

VPAR LIMITED (REGISTERED NUMBER: 06581897)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 APRIL 2023 TO 30 SEPTEMBER 2024

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 April 2023 2,164,245
Additions 318,944
At 30 September 2024 2,483,189
AMORTISATION
At 1 April 2023 1,962,644
Charge for period 222,400
At 30 September 2024 2,185,044
NET BOOK VALUE
At 30 September 2024 298,145
At 31 March 2023 201,601

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 215,998
Additions 1,690
At 30 September 2024 217,688
DEPRECIATION
At 1 April 2023 215,227
Charge for period 773
At 30 September 2024 216,000
NET BOOK VALUE
At 30 September 2024 1,688
At 31 March 2023 771

6. FIXED ASSET INVESTMENTS
Shares in
group
undertaking
£   
COST
At 1 April 2023
and 30 September 2024 600
NET BOOK VALUE
At 30 September 2024 600
At 31 March 2023 600

VPAR LIMITED (REGISTERED NUMBER: 06581897)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 APRIL 2023 TO 30 SEPTEMBER 2024

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 36,854 41,141
Other debtors 560,786 670,413
597,640 711,554

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 5,000 5,000
Trade creditors 24,009 25,488
Taxation and social security 17,524 21,136
Other creditors 1,386,917 1,316,006
1,433,450 1,367,630

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 28,750 36,250

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 8,750 16,250

VPAR LIMITED (REGISTERED NUMBER: 06581897)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 APRIL 2023 TO 30 SEPTEMBER 2024

10. SHARE-BASED PAYMENT TRANSACTIONS

VPAR Ltd operates an equity-settled share based remuneration scheme for employees. The vesting condition of the scheme is that the individual remains an employee of the group over the three year vesting period.

AverageAverage
exerciseexercise
price (p)Numberprice (p)Number
2024202420232023


Outstanding at the
beginning of the year


0.00001


241,664


0.00001


2,222,753
Granted during the year--0.00001241,664
Forfeited during the year----
Exercised during the
year


-


-


-


-
Expired during the year--0.00001(2,222,753)
0.00001241,6640.00001241,664


In accordance with the accounting policy £18,003 has been recognised as an expense in the current financial period of 18 months. The total carrying value of outstanding liabilities at the year end was £30,006.

Fair value was determined using an earnings basis.