Acorah Software Products - Accounts Production 16.3.350 false true true 31 July 2023 1 August 2022 false 1 August 2023 31 July 2024 31 July 2024 09512447 Mr Charles Bloom Mr Daniel Marchant Mr Vladislav Vassiliev iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09512447 2023-07-31 09512447 2024-07-31 09512447 2023-08-01 2024-07-31 09512447 frs-core:CurrentFinancialInstruments 2024-07-31 09512447 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-08-01 2024-07-31 09512447 frs-core:PlantMachinery 2024-07-31 09512447 frs-core:PlantMachinery 2023-08-01 2024-07-31 09512447 frs-core:PlantMachinery 2023-07-31 09512447 frs-core:ShareCapital 2024-07-31 09512447 frs-core:RetainedEarningsAccumulatedLosses 2024-07-31 09512447 frs-bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 09512447 frs-bus:FilletedAccounts 2023-08-01 2024-07-31 09512447 frs-bus:SmallEntities 2023-08-01 2024-07-31 09512447 frs-bus:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 09512447 frs-bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 09512447 frs-core:DeferredTaxation 2023-08-01 2024-07-31 09512447 frs-core:DeferredTaxation 2023-07-31 09512447 frs-core:DeferredTaxation 2024-07-31 09512447 frs-core:CostValuation 2023-07-31 09512447 frs-core:CostValuation 2024-07-31 09512447 frs-core:ProvisionsForImpairmentInvestments 2023-07-31 09512447 frs-core:ProvisionsForImpairmentInvestments 2024-07-31 09512447 frs-bus:Director1 2023-08-01 2024-07-31 09512447 frs-bus:Director2 2023-08-01 2024-07-31 09512447 frs-bus:Director3 2023-08-01 2024-07-31 09512447 frs-countries:EnglandWales 2023-08-01 2024-07-31 09512447 2022-07-31 09512447 2023-07-31 09512447 2022-08-01 2023-07-31 09512447 frs-core:CurrentFinancialInstruments 2023-07-31 09512447 frs-core:ShareCapital 2023-07-31 09512447 frs-core:RetainedEarningsAccumulatedLosses 2023-07-31
Registered number: 09512447
Vape Base Ltd
Unaudited Financial Statements
For The Year Ended 31 July 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 09512447
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 7,376 8,390
Investments 5 1 1
7,377 8,391
CURRENT ASSETS
Stocks 6 775,091 1,294,507
Debtors 7 120,444 167,213
Cash at bank and in hand 433,561 132,668
1,329,096 1,594,388
Creditors: Amounts Falling Due Within One Year 8 (339,620 ) (444,793 )
NET CURRENT ASSETS (LIABILITIES) 989,476 1,149,595
TOTAL ASSETS LESS CURRENT LIABILITIES 996,853 1,157,986
PROVISIONS FOR LIABILITIES
Deferred Taxation (1,697 ) (1,930 )
NET ASSETS 995,156 1,156,056
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 995,056 1,155,956
SHAREHOLDERS' FUNDS 995,156 1,156,056
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For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Vladislav Vassiliev
Director
15/04/2025
The notes on pages 3 to 7 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Vape Base Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09512447 . The registered office is Unit 29a, Greenhill Crescent, Watford, WD18 8YB.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

The financial statements are presented in sterling which is also the functional currency of the company. All amounts have been rounded to the nearest £1.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns.

Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that goods have been delivered to the customer.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Intangible assets recognised are web domains. Intangible assets are initially recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Intangible assets are amortised to profit or loss on a straight-line basis over their useful lives.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% Straight Line
2.6. Leasing and Hire Purchase Contracts
Rental charges on operating leases are charged to profit or loss on a straight line basis over the lease term.
2.7. Stocks and Work in Progress
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes the cost of stock and all direct costs such as inbound delivery, duty and customs charges.

At each reporting date, the company assesses whether stocks are impaired or if an impairment loss recognised in prior periods has reversed. Any excess of the carrying amount of stock over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
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2.8. Financial Instruments
The Company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102, in full, to all of its financial instruments.

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument, and are offset only when the Company currently has a legally enforceable right to set off the recognised amounts and intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Financial assets

Trade, group and other debtors (including accrued income) which are receivable within one year and which do not constitute a financing transaction are initially measured at the transaction price and subsequently measured at amortised cost, being the transaction price less any amounts settled and any impairment losses.

Where the arrangement with a debtor constitutes a financing transaction, the debtor is initially measured at the present value of future payments discounted at a market rate of interest for a similar debt instrument and subsequently measured at amortised cost.

A provision for impairment of trade debtors is established when there is objective evidence that the amounts due will not be collected according to the original terms of the contract. Impairment losses are recognised in profit or loss for the excess of the carrying value of the trade debtor over the present value of the future cash flows discounted using the original effective interest rate. Subsequent reversals of an impairment loss that objectively relate to an event occurring after the impairment loss was recognised, are recognised immediately in profit or loss.

Financial liabilities and equity

Financial instruments are classified as liabilities and equity instruments according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Equity instruments

Financial instruments classified as equity instruments are recorded at the fair value of the cash or other resources received or receivable, net of direct costs of issuing the equity instruments.

Borrowings

Borrowings are initially recognised at the transaction price, including transaction costs, and subsequently measured at amortised cost using the effective interest method. Interest expense is recognised on the basis of the effective interest method and is included in interest payable and other similar charges.
2.9. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.10. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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2.11. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.12. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
2.13. Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.

Interests in subsidiaries, associates and jointly controlled entities are assessed for impairment at each reporting date. Any impairments losses or reversals of impairment losses are recognised immediately in profit or loss.
2.14. Provisions
Provisions are recognised when the Company has an obligation at the reporting date as a result of a past event which it is probable will result in the transfer of economic benefits and that obligation can be estimated reliably.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 16 (2023: 16)
16 16
4. Tangible Assets
Plant & Machinery
£
Cost
As at 1 August 2023 83,409
Additions 2,712
As at 31 July 2024 86,121
Depreciation
As at 1 August 2023 75,019
Provided during the period 3,726
As at 31 July 2024 78,745
Net Book Value
As at 31 July 2024 7,376
As at 1 August 2023 8,390
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5. Investments
Other
£
Cost
As at 1 August 2023 1
As at 31 July 2024 1
Provision
As at 1 August 2023 -
As at 31 July 2024 -
Net Book Value
As at 31 July 2024 1
As at 1 August 2023 1
The £1 investment is a 100% owned dormant subsidiary Vape Base Trustees Ltd. 
6. Stocks
2024 2023
£ £
Stock 775,091 1,294,507
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 19,790 29,352
Prepayments and accrued income 63,382 106,873
Other debtors 37,272 2,000
VAT - 28,988
120,444 167,213
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 134,008 231,296
Bank loans and overdrafts - 1,037
Corporation tax - 71,732
Other taxes and social security 9,859 11,126
VAT 14,712 -
Other creditors 11,357 108,057
Accruals and deferred income 169,684 21,545
339,620 444,793
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9. Provisions for Liabilities
Deferred Tax Total
£ £
As at 1 August 2023 1,930 1,930
Deferred taxation (233 ) (233 )
Balance at 31 July 2024 1,697 1,697
The provision for deferred taxation is made up of accelerated capital allowances.
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Each £1 of share capital gives equal rights to voting, dividends and capital on a winding up.
11. Reserves
Profit and loss reserves
The profit and loss reserve represents the cumulative profit and loss net of distributions to shareholders.
12. Related Party Transactions
In 2024 the following transactions took place:
  • Sales of £2,674,370 (2023: £2,191,892) were made to Vape Club Ltd, a company under common control. During the year £407,097 (2023: £634,042) overheads were recharged from Vape Club Ltd. At the year end £nil (2023: £97,610) was owed to Vape Club Ltd. 
  • Sales of £nil (2023: £560,945) and purchases of £181,674 (2023: £181,106) were made to All Vape Ltd, a company under common control. During the year £nil (2023: £nil) overheads were recharged to All Vape Ld. At the year end £nil (2023: £nil) was owed to All Vape Ltd and £nil (2023: £nil) was owed from All Vape Ltd.
  • Sales of £48,150 (2023: £87,932) were made to Vapourcore Retail Ltd, a company in which director Charles Bloom holds a significant interest.
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