REGISTERED NUMBER: 03883467 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Vita Hardware Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr H T Chen

SECRETARY:

Ms S Thornton

REGISTERED OFFICE:

Unit 18f3 Brooke's Mill

Armitage Bridge

Huddersfield

West Yorkshire

HD4 7NR

REGISTERED NUMBER:

03883467 (England and Wales)

ACCOUNTANTS:

Northern Tonic Limited

14 Clifton Moor Business Village

James Nicolson Link

York

YO30 4XG

FIXED ASSETS

Tangible assets

4

24,610

1,066

CURRENT ASSETS

Stocks

327,135

502,780

Debtors

5

120,738

136,935

Cash at bank and in hand

138,268

231,784

586,141

871,499

CREDITORS

Amounts falling due within one year

6

4,716,011

4,736,457

NET CURRENT LIABILITIES

(4,129,870

)

(3,864,958

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(4,105,260

)

(3,863,892

)

CREDITORS

Amounts falling due after more than one year

7

5,547

15,783

NET LIABILITIES

(4,110,807

)

(3,879,675

)

CAPITAL AND RESERVES

Called up share capital

1,000,000

1,000,000

Retained earnings

(5,110,807

)

(4,879,675

)

(4,110,807

)

(3,879,675

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 director and authorised for issue on 10 September 2025 and were signed by:

Mr H T Chen - Director

1.	STATUTORY INFORMATION

Vita Hardware 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.

Turnover

Turnover comprise the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company's activities. Turnover is shown net of value added tax, returns and discounts.

The company recognises revenue when the amount of revenue can be reliably measured and it is probable that future economic benefits will flow to the company.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the asset over its estimated useful life.

Plant and machinery - 25% - 33.33% straight line

Motor vehicles - 25% straight line

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

The company has substantial losses to be utilised against future trading profits for tax purposes, however these are unlikely to be recoverable in the foreseeable future. Accordingly, no deferred tax asset is included in the accounts.

Foreign currencies

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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Going concern

At 31 December 2024 the balance sheet shows that the company had a negative profit and loss account balance of £5,110,807 (2023 - £4,879,675). The main funding to support this is a loan from Evenfalls Worldwide Co Ltd which is a company under common control and is the principal supplier to Vita Hardware Ltd. Evenfalls Worldwide Co Ltd have confirmed that they will not demand significant repayment of the loan within the next 12 months. The directors consider that it is appropriate to prepare the accounts on a going concern basis. The financial statements do not include any adjustments that would result if the financial support was withdrawn.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 9 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

41,416

Additions

26,131

Disposals

(18,079

)

At 31 December 2024

49,468

DEPRECIATION

At 1 January 2024

40,350

Charge for year

2,587

Eliminated on disposal

(18,079

)

At 31 December 2024

24,858

NET BOOK VALUE

At 31 December 2024

24,610

At 31 December 2023

1,066

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

105,685

119,003

Amounts owed by group undertakings

3,117

-

Other debtors

11,936

17,932

120,738

136,935

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

10,118

10,000

Trade creditors

41,784

27,535

Amounts owed to group undertakings

4,638,914

4,675,567

Taxation and social security

5,970

15,579

Other creditors

19,225

7,776

4,716,011

4,736,457

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans

5,547

15,783

8.	OTHER FINANCIAL COMMITMENTS

The total amount of financial commitments not included in the balance sheet is £Nil (2023 - £66,714).

9.	RELATED PARTY DISCLOSURES

Summary of transactions with entities with joint control or significant interest

There were transactions during the year with two companies that are under common control.

Purchases from Evenfalls Worldwide Co Ltd are acquired on deferred terms, payable as soon as sufficient funds are available, with interest at variable rates.

Expenditure with and amounts payable to related parties

2024

2023

£

£

Purchase of goods

602,498

3,825,118

Interest payable

35,319

38,423

Amounts payable to related parties

4,635,797

4,675,567

10.	ULTIMATE CONTROLLING PARTY

The company's immediate parent is Joy Glory Group Limited, incorporated in Belize.