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Company Registration No. 14101537 (England and Wales)
Vapoura Limited Unaudited accounts for the year ended 31 May 2025
Vapoura Limited Unaudited accounts Contents
Page
Statement of financial position
3
Notes to the accounts
4
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Vapoura Limited Statement of financial position as at 31 May 2025
2025
2024
Notes
£
£
Fixed assets
Intangible assets
4
24,300
-
Tangible assets
5
22,979
30,101
47,279
30,101
Current assets
Inventories
199,224
333,073
Debtors
6
57,384
157,736
Cash at bank and in hand
49,252
36,020
305,860
526,829
Creditors: amounts falling due within one year
7
(53,018)
(35,205)
Net current assets
252,842
491,624
Total assets less current liabilities
300,121
521,725
Creditors: amounts falling due after more than one year
8
(2,171,084)
(1,671,084)
Net liabilities
(1,870,963)
(1,149,359)
Capital and reserves
Called up share capital
4
4
Profit and loss account
(1,870,967)
(1,149,363)
Shareholders' funds
(1,870,963)
(1,149,359)
For the year ending 31 May 2025 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 15 September 2025 and were signed on its behalf by
Oliver Barkley Director Company Registration No. 14101537
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Vapoura Limited Notes to the Accounts for the year ended 31 May 2025
1
Statutory information
Vapoura Limited is a private company, limited by shares, registered in England and Wales, registration number 14101537. The registered office is 71-75 Shelton Street, Covent Garden, London, WC2H 9JQ, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
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
Presentation currency
The accounts are presented in £ sterling.
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% on cost
Computer equipment
20% on cost
Inventories
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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Vapoura Limited Notes to the Accounts for the year ended 31 May 2025
Deferred taxation
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. 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.
Going concern
In preparing and approving these financial statements, the directors have given due consideration to going concern risks. Whilst recognising that there can be no certainty, the directors are satisfied that the going concern basis of preparation remains appropriate. At the balance sheet date the company's liabilities exceeded its assets. The company has received assurances from the directors and fellow investors that they will continue to give financial support to the company and not demand repayment of the outstanding investor loan balance totalling £2,171,084 (2024: £1,671,084) to the extent that the company would be unable to continue as a going concern for at least twelve months from the date of signing of these accounts. Investor loan funding of £2,171,084 (2024: £1,671,084) is presented as payable more than one year however the directors are satisfied that, in accordance with the original business plan presented to the investors, balances will not become payable until the company has sufficient available cashflow. On this basis the directors consider it appropriate to prepare the accounts on the going concern basis.
4
Intangible fixed assets
Other
£
Cost
At 1 June 2024
-
Additions
27,000
At 31 May 2025
27,000
Amortisation
At 1 June 2024
-
Charge for the year
2,700
At 31 May 2025
2,700
Net book value
At 31 May 2025
24,300
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Vapoura Limited Notes to the Accounts for the year ended 31 May 2025
5
Tangible fixed assets
Plant & machinery
Computer equipment
Total
£
£
£
Cost or valuation
At cost
At cost
At 1 June 2024
34,516
3,569
38,085
Additions
-
560
560
At 31 May 2025
34,516
4,129
38,645
Depreciation
At 1 June 2024
6,903
1,081
7,984
Charge for the year
6,903
779
7,682
At 31 May 2025
13,806
1,860
15,666
Net book value
At 31 May 2025
20,710
2,269
22,979
At 31 May 2024
27,613
2,488
30,101
6
Debtors
2025
2024
£
£
Amounts falling due within one year
VAT
20,869
157,736
Trade debtors
6,378
-
Accrued income and prepayments
11,505
-
Other debtors
18,632
-
57,384
157,736
7
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
31,398
-
Taxes and social security
-
3,685
Other creditors
30
28,825
Loans from directors
6,628
695
Accruals
14,962
2,000
53,018
35,205
8
Creditors: amounts falling due after more than one year
2025
2024
£
£
Other creditors
2,171,084
1,671,084
9
Transactions with related parties
A company in which a director had a major interest charged consultancy fees during the year amounting to £123,820 (2024: £171,231), charged at normal commercial rates.
10
Average number of employees
During the year the average number of employees was 1 (2024: 5).
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