Registration number: 04869183

Vapourtec Limited

Contents

Balance Sheet	1 to 2
Notes to the Unaudited Financial Statements	3 to 9

Vapourtec Limited

(Registration number: 04869183)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed Assets
Intangible assets	4	301,355	341,536
Tangible Assets	5	238,518	221,643
Investment property	6	630,514	630,514
Investments	7	205	205
		1,170,592	1,193,898
Current assets
Stocks		924,709	833,628
Debtors	8	2,207,277	1,791,378
Cash at bank and in hand		3,995,971	3,160,678
		7,127,957	5,785,684
Creditors: Amounts falling due within one year	9	(1,241,710)	(777,106)
Net current assets		5,886,247	5,008,578
Total assets less current liabilities		7,056,839	6,202,476
Provisions for liabilities		(58,700)	-
Net assets		6,998,139	6,202,476
Capital and Reserves
Called up share capital		980	980
Share premium reserve		47,880	47,880
Capital redemption reserve		20	20
Retained Earnings		6,949,259	6,153,596
Shareholders' funds		6,998,139	6,202,476

Vapourtec Limited

(Registration number: 04869183)
Balance Sheet as at 31 December 2024

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

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 30 September 2025
 

......................................... DR Guthrie Director

Vapourtec Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1	General information

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

The address of its registered office is:
Bells Lane Farm
Stanningfield
Bury St Edmunds
Suffolk
IP29 4RZ
United Kingdom

The principal place of business is:
Park Farm Business Centre
Fornham St Genevieve
Bury St Edmunds
Suffolk
IP28 6TS
United Kingdom

These financial statements were authorised for issue by the director on 30 September 2025.

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 presented in Sterling, which is the functional currency of the company.

Going concern

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 sales/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.

Vapourtec Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

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.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible Assets

Tangible Assets are stated in the balance sheet 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
Plant & Machinery	25% reducing balance and 3 years straight line
Fixtures & Fittings	25% reducing balance
Motor vehicles	25% reducing balance
Equipment	25% reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable property. The director uses observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Intangible assets

Develpment costs are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation will be applied so as to write off the cost, less any estimated residual value, over the useful economic life of the software as follows:

Vapourtec Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Asset class	Amortisation method and rate
Software development costs	10 years straight line

Investments

Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, 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.

Trade Debtors

Trade Debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade Debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade Creditors

Trade Creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade Creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Vapourtec Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 26 (2023 - 27).

4	Intangible assets

	Software development costs  £	Total £
Cost or valuation
At 1 January 2024	401,807	401,807
At 31 December 2024	401,807	401,807
Amortisation
At 1 January 2024	60,271	60,271
Amortisation charge	40,181	40,181
At 31 December 2024	100,452	100,452
Carrying amount
At 31 December 2024	301,355	301,355
At 31 December 2023	341,536	341,536

 

Vapourtec Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

5	Tangible Assets

	Furniture, fittings and equipment  £	Motor vehicles  £	Other tangible assets £	Total £
Cost or valuation
At 1 January 2024	59,000	156,930	458,049	673,979
Additions	-	79,365	55,450	134,815
Disposals	-	(45,570)	-	(45,570)
At 31 December 2024	59,000	190,725	513,499	763,224
Depreciation
At 1 January 2024	45,215	54,972	352,149	452,336
Charge for the year	3,446	29,010	39,914	72,370
At 31 December 2024	48,661	83,982	392,063	524,706
Carrying amount
At 31 December 2024	10,339	106,743	121,436	238,518
At 31 December 2023	13,785	101,958	105,900	221,643

6	Investment properties

	2024 £
At 1 January	630,514
At 31 December	630,514

There has been no valuation of investment property by an independent valuer.

Vapourtec Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

7	Investments

	2024 £	2023 £
Investments in subsidiaries	205	205