Vvast (Europe) Limited

Contents

Statement of Financial Position	1
Notes to the Unaudited Financial Statements	2 to 6

Vvast (Europe) Limited

(Registration number: 13342782)
Statement of Financial Position as at 31 December 2024

	Note	2024 £	2024 £
Fixed assets
Tangible assets	4	7,615	-
Current assets
Debtors	5	591,505	100
Cash at bank and in hand		451,390	-
		1,042,895	100
Creditors: Amounts falling due within one year	6	(738,354)	-
Net current assets		304,541	100
Net assets		312,156	100
Capital and reserves
Called up share capital		100	100
Profit and loss account		312,056	-
Shareholders' funds		312,156	100

For the financial period ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 29 September 2025 and signed on its behalf by:
 

L Hewertson Director

Vvast (Europe) Limited

Notes to the Unaudited Financial Statements for the Period from 1 May 2024 to 31 December 2024

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit E1 Hilton Park
Church Farm Lane
East Wittering
Chichester
West Sussex
PO20 8RC

Principal activity

The principal activity of the company is brand commerce development

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling which is the functional currency of the entity.

Vvast (Europe) Limited

Notes to the Unaudited Financial Statements for the Period from 1 May 2024 to 31 December 2024 (continued)

2	Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

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

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Fixtures and fittings	25% straight line
Computer equipment	25% straight line

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Vvast (Europe) Limited

Notes to the Unaudited Financial Statements for the Period from 1 May 2024 to 31 December 2024 (continued)

2	Accounting policies (continued)

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3	Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2 (2024 - 1).

Vvast (Europe) Limited

Notes to the Unaudited Financial Statements for the Period from 1 May 2024 to 31 December 2024 (continued)

4	Tangible assets

	Fixtures and fittings £	Office equipment £	Total £
Cost or valuation
Additions	24,284	13,068	37,352
Disposals	(18,131)	(10,214)	(28,345)
At 31 December 2024	6,153	2,854	9,007
Depreciation
Charge for the period	674	718	1,392
At 31 December 2024	674	718	1,392
Carrying amount
At 31 December 2024	5,479	2,136	7,615

5

Debtors

	2024 £	2024 £
Trade debtors	227,028	-
Other debtors	343,812	100
Prepayments	20,665	-
	591,505	100

Vvast (Europe) Limited

Notes to the Unaudited Financial Statements for the Period from 1 May 2024 to 31 December 2024 (continued)

6

Creditors

Creditors: amounts falling due within one year

	2024 £	2024 £
Due within one year
Trade creditors	172,615	-
Taxation and social security	255,765	-
Accruals and deferred income	99,459	-
Other creditors	210,515	-
	738,354	-

7

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

8	Related party transactions

Summary of transactions with associates

Associated company
On 31 December 2024, the company took over part of the trade, but all of the assets and liabilities of VVAST Limited, a company under the common control of the shareholders. The company VVAST Limited was legally exchanged to be sold to an unconnected 3rd party on 23 October 2024 with completion set to be on 31 December 2024, the financial year end.

A loan of £400,000 was given to VVAST Europe Limited by VVAST Limited during the year and was written off by a formal deed of release and waiver prior to the exchange of the sale of the shares in VVAST Limited.