Caseware UK (AP4) 2024.0.164 2024.0.164 2024-11-302024-11-30falseThe company specialises in Supply and distribution of computer systems and associated peripherals.2023-12-0155falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 02284915 2023-12-01 2024-11-30 02284915 2022-12-01 2023-11-30 02284915 2024-11-30 02284915 2023-11-30 02284915 c:Director1 2023-12-01 2024-11-30 02284915 d:Buildings d:LongLeaseholdAssets 2023-12-01 2024-11-30 02284915 d:Buildings d:LongLeaseholdAssets 2024-11-30 02284915 d:Buildings d:LongLeaseholdAssets 2023-11-30 02284915 d:FurnitureFittings 2023-12-01 2024-11-30 02284915 d:FurnitureFittings 2024-11-30 02284915 d:FurnitureFittings 2023-11-30 02284915 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-12-01 2024-11-30 02284915 d:OfficeEquipment 2023-12-01 2024-11-30 02284915 d:OfficeEquipment 2024-11-30 02284915 d:OfficeEquipment 2023-11-30 02284915 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-12-01 2024-11-30 02284915 d:ComputerEquipment 2023-12-01 2024-11-30 02284915 d:OwnedOrFreeholdAssets 2023-12-01 2024-11-30 02284915 d:CurrentFinancialInstruments 2024-11-30 02284915 d:CurrentFinancialInstruments 2023-11-30 02284915 d:CurrentFinancialInstruments d:WithinOneYear 2024-11-30 02284915 d:CurrentFinancialInstruments d:WithinOneYear 2023-11-30 02284915 d:ShareCapital 2024-11-30 02284915 d:ShareCapital 2023-11-30 02284915 d:SharePremium 2024-11-30 02284915 d:SharePremium 2023-11-30 02284915 d:RetainedEarningsAccumulatedLosses 2024-11-30 02284915 d:RetainedEarningsAccumulatedLosses 2023-11-30 02284915 c:OrdinaryShareClass1 2023-12-01 2024-11-30 02284915 c:OrdinaryShareClass1 2024-11-30 02284915 c:FRS102 2023-12-01 2024-11-30 02284915 c:AuditExempt-NoAccountantsReport 2023-12-01 2024-11-30 02284915 c:FullAccounts 2023-12-01 2024-11-30 02284915 c:PrivateLimitedCompanyLtd 2023-12-01 2024-11-30 02284915 d:WithinOneYear 2024-11-30 02284915 d:WithinOneYear 2023-11-30 02284915 d:BetweenOneFiveYears 2024-11-30 02284915 d:BetweenOneFiveYears 2023-11-30 02284915 2 2023-12-01 2024-11-30 02284915 e:PoundSterling 2023-12-01 2024-11-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 02284915









VECTOR AND SCALAR PRODUCTS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 NOVEMBER 2024

 
VECTOR AND SCALAR PRODUCTS LIMITED
REGISTERED NUMBER: 02284915

STATEMENT OF FINANCIAL POSITION
AS AT 30 NOVEMBER 2024


2024

2023
Note
£
£
£
£

Fixed assets
  

Tangible assets
 4 
2,136
587

  
2,136
587

Current assets
  

Stocks
 5 
24,612
65,936

Debtors: amounts falling due within one year
 6 
170,435
109,124

Cash at bank and in hand
 7 
73,485
246,551

  
268,532
421,611

Creditors: amounts falling due within one year
 8 
(129,145)
(257,932)

Net current assets
  
 
 
139,387
 
 
163,679

Total assets less current liabilities
  
141,523
164,266

  

Net assets
  
141,523
164,266


Capital and reserves
  

Called up share capital 
 9 
1,100
1,100

Share premium account
  
39,317
39,317

Profit and loss account
  
101,106
123,849

  
141,523
164,266


Page 1

 
VECTOR AND SCALAR PRODUCTS LIMITED
REGISTERED NUMBER: 02284915
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 NOVEMBER 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 7 April 2025.




J J Alaway
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
VECTOR AND SCALAR PRODUCTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

1.


General information

Vector and Scalar Products Limited is a company limited by shares, incorporated in England and Wales. The address of the registered office is The Old Court House, Trinity Road, Marlow, Buckinghamshire, SL7 3AN.
The company specialises in the supply and distribution of computer systems and associated peripherals.

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 following principal accounting policies have been applied:

 
2.2

Going concern

The directors note that the company is trading adequately and has sufficient working capital and other finance available to continue trading for a period of not less than 12 months from the Statement of financial position date. As such, the directors believe that there are no significant uncertainties in their assessment of whether the business is a going concern and therefore have prepared the accounts on a going concern basis.

 
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 the Statement of comprehensive income 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 the Statement of comprehensive income within 'other operating income'.

Page 3

 
VECTOR AND SCALAR PRODUCTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 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

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to the Statment of comprehensive income on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.6

Interest income

Interest income is recognised in the Statement of comprehensive income using the effective interest method.

 
2.7

Finance costs

Finance costs are charged to the Statement of comprehensive income 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.

Page 4

 
VECTOR AND SCALAR PRODUCTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)

 
2.8

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 Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.9

Taxation

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 reporting date in the countries where the Company operates and generates income.


 
2.10

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, on a reducing balance basis.

Depreciation is provided on the following basis:

Improvements to property
-
33%
Reducing balance
Fixtures and fittings
-
33%
Reducing balance
Computer equipment
-
25%
Reducing balance

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 the Statement of comprehensive income.

Page 5

 
VECTOR AND SCALAR PRODUCTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)

 
2.11

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 reporting 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 the Statement of comprehensive income.

 
2.12

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.

 
2.13

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.

 
2.14

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.

 
2.15

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 5 (2023 - 5).

Page 6

 
VECTOR AND SCALAR PRODUCTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

4.


Tangible fixed assets





Improvements to property
Fixtures and fittings
Computer equipment
Total

£
£
£
£



Cost 


At 1 December 2023
11,466
16,267
6,963
34,696


Additions
-
2,100
-
2,100



At 30 November 2024

11,466
18,367
6,963
36,796



Depreciation


At 1 December 2023
11,466
16,267
6,376
34,109


Charge for the year
-
404
147
551



At 30 November 2024

11,466
16,671
6,523
34,660



Net book value



At 30 November 2024
-
1,696
440
2,136



At 30 November 2023
-
-
587
587


5.


Stocks

2024
2023
£
£

Finished goods and goods for resale
24,612
65,936

24,612
65,936



6.


Debtors

2024
2023
£
£


Trade debtors
120,135
100,966

Other debtors
46,400
7,215

Prepayments
3,900
943

170,435
109,124


Page 7

 
VECTOR AND SCALAR PRODUCTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
73,485
246,551

73,485
246,551



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
32,677
119,222

Corporation tax
41,396
48,203

Other taxation and social security
15,379
4,143

Other creditors
500
500

Accruals and deferred income
39,193
85,864

129,145
257,932



9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1,100 Ordinary shares of £1 each
1,100
1,100



10.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £3,000 (2023 - £3,000). Contributions totalling £500 (2023 - £500) were payable to the fund at the reporting date.

Page 8

 
VECTOR AND SCALAR PRODUCTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

11.


Commitments under operating leases

At 30 November 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
14,389
12,843

Later than 1 year and not later than 5 years
28,243
18,725

42,632
31,568


12.


Controlling party

The ultimate controlling party is Q R T Gadd, a director, by virtue of his majority shareholding in the company.

 
Page 9