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Registered number: 09521467
Vaboo Limited
Unaudited Financial Statements
For The Year Ended 30 April 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 09521467
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 363 -
363 -
CURRENT ASSETS
Debtors 5 49,858 62,030
Cash at bank and in hand 5,804 23,179
55,662 85,209
Creditors: Amounts Falling Due Within One Year 6 (766,114 ) (591,608 )
NET CURRENT ASSETS (LIABILITIES) (710,452 ) (506,399 )
TOTAL ASSETS LESS CURRENT LIABILITIES (710,089 ) (506,399 )
Creditors: Amounts Falling Due After More Than One Year 7 (244,222 ) (235,090 )
NET LIABILITIES (954,311 ) (741,489 )
CAPITAL AND RESERVES
Called up share capital 9 125,000 125,000
Share premium account 65,000 65,000
Profit and Loss Account (1,144,311 ) (931,489 )
SHAREHOLDERS' FUNDS (954,311) (741,489)
Page 1
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For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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
J P Stein
Director
14 May 2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Vaboo Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09521467 . The registered office is Avaland House, London Road, Hemel Hempstead, Hertfordshire, HP3 9SD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
At 30 April 2024 the company’s liabilities exceeded its assets by £954,311 (2023: £741,489).
The company relies on the financial support of two associated companies by way of loans totalling £432,688 (2023: £432,688) and also loans from shareholders totalling £210,000.  Those parties have indicated that they will not demand repayment until such time as working capital permits and accordingly the director feels that it is appropriate for these accounts to be prepared on a going concern basis.
2.2. 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, rebates and other similar allowances.
2.3. 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 50% on cost
Computer Equipment 50% on cost
2.4. 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 years 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 assets reflect 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.
...CONTINUED
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2.4. Taxation - continued
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 8 (2023: 7)
8 7
4. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 May 2023 - 3,202 3,202
Additions 623 - 623
As at 30 April 2024 623 3,202 3,825
Depreciation
As at 1 May 2023 - 3,202 3,202
Provided during the period 260 - 260
As at 30 April 2024 260 3,202 3,462
Net Book Value
As at 30 April 2024 363 - 363
As at 1 May 2023 - - -
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 22,602 32,146
Prepayments and accrued income 19,831 15,225
Other debtors 7,425 14,659
49,858 62,030
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6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 9,833 11,031
Bank loans and overdrafts 6,600 6,600
Other taxes and social security 66,857 44,870
VAT 23,476 25,356
Net wages 8,310 -
Accruals and deferred income 10,810 6,335
Director's loan account 207,540 64,728
Amounts owed to associates 432,688 432,688
766,114 591,608
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 7,700 14,300
Other loans 236,522 220,790
244,222 235,090
8. Loans
An analysis of the maturity of loans is given below:
2024 2023
£ £
Amounts falling due within one year or on demand:
Bank loans 6,600 6,600
2024 2023
£ £
Amounts falling due between one and five years:
Bank loans 7,700 14,300
Other loans 236,522 220,790
244,222 235,090
9. Share Capital
2024 2023
Allotted, called up and fully paid £ £
1,249,999 Ordinary Shares of £ 0.10 each 125,000 125,000
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Page 6
10. Related Party Disclosures
Companies of which J Stein is a director and 50% shareholder.
2024
2023
£
£
Inspire Property London Limited
232,688
232,688
Dunfield Developments Limited
200,000
200,000
Amount due to related parties at the balance sheet date
432,688
432,688
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