REGISTERED NUMBER: |
VPAR LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD |
1 APRIL 2023 TO 30 SEPTEMBER 2024 |
REGISTERED NUMBER: |
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: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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 |
Tangible assets | 5 |
Investments | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CREDITORS |
Amounts falling due after more than one year |
9 |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Share premium |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
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 were approved by the Board of Directors and authorised for issue on |
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 |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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. |
Tangible fixed assets |
Plant and machinery etc | - |
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 |
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 |
Additions |
At 30 September 2024 |
AMORTISATION |
At 1 April 2023 |
Charge for period |
At 30 September 2024 |
NET BOOK VALUE |
At 30 September 2024 |
At 31 March 2023 |
5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 April 2023 |
Additions |
At 30 September 2024 |
DEPRECIATION |
At 1 April 2023 |
Charge for period |
At 30 September 2024 |
NET BOOK VALUE |
At 30 September 2024 |
At 31 March 2023 |
6. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertaking |
£ |
COST |
At 1 April 2023 |
and 30 September 2024 |
NET BOOK VALUE |
At 30 September 2024 |
At 31 March 2023 |
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 |
Other debtors |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans |
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. |
Average | Average |
exercise | exercise |
price (p | ) | Number | price (p | ) | Number |
2024 | 2024 | 2023 | 2023 |
Outstanding at the beginning of the year | 0.00001 | 241,664 | 0.00001 | 2,222,753 |
Granted during the year | - | - | 0.00001 | 241,664 |
Forfeited during the year | - | - | - | - |
Exercised during the year | - | - | - | - |
Expired during the year | - | - | 0.00001 | (2,222,753 | ) |
0.00001 | 241,664 | 0.00001 | 241,664 |
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. |