VAULT COUTURE LIMITED


Directors	M CHODIEVA
	A DEL CASTILLO


Registered Address	28 Broad Street
	Wokingham
	RG40 1AB


Registered Number	06982522 (England and Wales)

Notes to the Financial Statements
for the year ended 31 December 2024

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Going concern
	After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.

	Turnover policy
	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.

	Revenue from rendering of services
	Revenue from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

	Employee benefits
	Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

Employee benefits

Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

	Defined contribution pension plan
	The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.

Defined contribution pension plan

The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Current taxation
	Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

Current taxation

Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income.

Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Tangible fixed assets and depreciation
	All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Tangible fixed assets and depreciation

All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:


	Reducing balance (%)	Straight line (years)
Land and buildings	-	250
Plant and machinery	25	-
Fixtures and fittings	25	-
Vehicles	25	-
Office Equipment	25	-

2.	Average number of employees


		2024		2023
	Average number of employees during the year	8		6

3.	Tangible fixed assets

	Land & buildings	Plant & machinery	Vehicles	Fixtures & fittings	Office Equipment	Total
	£	£	£	£	£	£
Cost or valuation
At 01 January 24	278,760	18,083	104,287	704,327	84,054	1,189,511
Additions	-	-	-	68,799	-	68,799
At 31 December 24	278,760	18,083	104,287	773,126	84,054	1,258,310
Depreciation and impairment
At 01 January 24	270,837	16,536	47,534	377,516	77,066	789,489
Charge for year	1,320	385	14,188	98,916	1,748	116,557
At 31 December 24	272,157	16,921	61,722	476,432	78,814	906,046
Net book value
At 31 December 24	6,603	1,162	42,565	296,694	5,240	352,264
At 31 December 23	7,923	1,547	56,753	326,811	6,988	400,022

4.	Debtors: amounts due within one year

	2024	2023
	£	£
Trade debtors / trade receivables	356,418	234,158
Other debtors	25,400	25,400
Prepayments and accrued income	83,503	80,175
Total	465,321	339,733

5.	Creditors: amounts due within one year

	2024	2023
	£	£
Trade creditors / trade payables	30,986	57,441
Bank borrowings and overdrafts	12,149	12,125
Taxation and social security	131,200	88,523
Other creditors	3,808,886	3,803,032
Accrued liabilities and deferred income	36,127	5,878
Total	4,019,348	3,966,999

6.	Creditors: amounts due after one year

	2024	2023
	£	£
Bank borrowings and overdrafts	4,325	14,443
Total	4,325	14,443

7.	Related party transactions
	Included in other creditors are the following loans repayable on demand: £2,769,254 (2023: £2,694,506) due to Ostra Holding Business Limited, the parent undertaking. The loan carries interest at 5% per annum. Interest charged during the year was £74,750 (2023: £74,750). £277,504 (2023: £271,150) and £409,214 (2023: £396,714) due to Helden Limited and Halesford Holdings Limited, respectively, companies in which the shareholder has a material interest. The loan carries interest at 5% per annum, interest charged on the Helden loan during the year was £6,354 (2023: £6,354) and was £12,500 (2023: £12,500) on the Halesford loan. £255,000 (2023: £255,000) due to Termo Holding SPF SARL in which the shareholder has a material interest. The loan is interest free. £45,450 (2023: £45,450) due to R Barinstein, a former director. The loan carries interest at 8.5% per annum and interest of £1,912 (2023: £1,912) was charged during the year. During the year company sold services at market value to a company with a common director, Musana Plus Services Limited to the value of £9,002 (2023: £8,185). At the year end the company was owed £9,141 (2023: £6,341) from Musana Plus Services Limited.

Related party transactions

Included in other creditors are the following loans repayable on demand:

£2,769,254 (2023: £2,694,506) due to Ostra Holding Business Limited, the parent undertaking. The loan carries interest at 5% per annum. Interest charged during the year was £74,750 (2023: £74,750).

£277,504 (2023: £271,150) and £409,214 (2023: £396,714) due to Helden Limited and Halesford Holdings Limited, respectively, companies in which the shareholder has a material interest. The loan carries interest at 5% per annum, interest charged on the Helden loan during the year was £6,354 (2023: £6,354) and was £12,500 (2023: £12,500) on the Halesford loan.

£255,000 (2023: £255,000) due to Termo Holding SPF SARL in which the shareholder has a material interest.  The loan is interest free.

£45,450 (2023: £45,450) due to R Barinstein, a former director. The loan carries interest at 8.5% per annum and interest of £1,912 (2023: £1,912) was charged during the year.

During the year company sold services at market value to a company with a common director, Musana Plus Services Limited to the value of £9,002 (2023: £8,185). At the year end the company was owed £9,141 (2023: £6,341) from Musana Plus Services Limited.

	Notes	2024		2023
		£	£	£	£
Fixed assets
Tangible assets	3		352,264		400,022
			352,264		400,022
Current assets
Debtors	4	465,321		339,733
Cash at bank and on hand		237,154		215,026
		702,475		554,759
Creditors amounts falling due within one year	5	(4,019,348)		(3,966,999)
Net current assets (liabilities)			(3,316,873)		(3,412,240)
Total assets less current liabilities			(2,964,609)		(3,012,218)
Creditors amounts falling due after one year	6		(4,325)		(14,443)
Net assets			(2,968,934)		(3,026,661)
Capital and reserves
Called up share capital			100		100
Share premium			99,990		99,990
Profit and loss account			(3,069,024)		(3,126,751)
Shareholders' funds			(2,968,934)		(3,026,661)