Vimms Capital Limited

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

1	General information

Vimms Capital Limited (the 'company') is a private company limited by share capital, registered in England and Wales under the Companies Act. The address of the registered office is given on page 1. The nature of the company’s operations and its principal activities are set out in the directors' report on page 2.

2	Accounting policies

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.

Going concern

No material uncertainties that may cast significant doubt about the ability of the company to continue as a going concern have been identified by the director.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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 functional currency of the company is considered to be pounds sterling (£) because that is the currency of the primary economic environment in which the company operates. The financial statements are presented in pound sterling (£).

Cash flow statement
The accounts do not include a cash flow statement because the company, as a small reporting entity, is exempt from the requirements to prepare such a statement under Section 1A of FRS 102.

Judgements

There are no critical judgements, estimations or assumptions made by the director in the process of applying the company’s accounting policies which have a significant effect on the amounts recognised in the financial statements.

Revenue recognition

Revenue comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Revenue is shown net of value added tax. 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.

Vimms Capital Limited

Notes to the Financial Statements
for the Year Ended 31 December 2024 (continued)

2	Accounting policies (continued)

Foreign currency transactions and balances

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the Income statement.

Taxation

The tax expense for the period comprises current 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.

Property, plant and equipment

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

The cost of property, plant and equipment includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Furniture, fittings and equipment	Straight line over 5 years

Other financial assets

Investments in associates and other unlisted non-current investments are stated at historical cost less provision for any diminution in value.

Current financial assets represent listed investments which are stated at fair value with value changes recognised in the income statement.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and at bank.

Receivables

Trade and other receivables that are receivable within one year and do not constitute a financing transaction are recorded at the undiscounted amount expected to be received, net of impairment. Those that are receivable after more than one year or that constitute a financing transaction are recorded initially at fair value less transaction costs and subsequently at amortised cost, net of impairment.

Vimms Capital Limited

Notes to the Financial Statements
for the Year Ended 31 December 2024 (continued)

2	Accounting policies (continued)

Payables

Trade and other payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade and other payables 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 and other payables that are payable within one year and do not constitute a financing transaction are recorded at the undiscounted amount expected to be paid. Those that are payable after more than one year or that constitute a financing transaction are recorded initially at transaction price and subsequently at amortised cost using the effective interest method.

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.

Defined contribution pension obligation

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2023 - 0).

Vimms Capital Limited

Notes to the Financial Statements
for the Year Ended 31 December 2024 (continued)

4

Taxation

Tax charged in the income statement

	2024 £	2023 £
Foreign tax	282	-

The tax on profit before tax for the year is higher than the standard rate of corporation tax in the UK (2023 - higher than the standard rate of corporation tax in the UK) of 25% (2023 - 23.5%).

The differences are reconciled below:

	2024 £	2023 £
Loss before tax	(144,320)	(180,957)
Corporation tax at standard rate	(36,080)	(42,525)
Effect of expense not deductible in determining tax loss	12,298	34,597
Effect of tax losses	23,874	7,297
Effect of foreign tax rates	282	-
Tax increase from effect of capital allowances and depreciation	76	631
Tax decrease from effect of dividends from UK companies	(168)	-
Total tax charge	282	-

Vimms Capital Limited

Notes to the Financial Statements
for the Year Ended 31 December 2024 (continued)

5	Property, plant and equipment

	Furniture, fittings and equipment  £
Cost
At 1 January 2024	6,185
Additions	749
Disposals	(3,688)
At 31 December 2024	3,246
Depreciation
At 1 January 2024	5,064
Charge for the year	1,052
Eliminated on disposal	(3,688)
At 31 December 2024	2,428
Carrying amount
At 31 December 2024	818
At 31 December 2023	1,121

6	Investments

	2024 £	2023 £
Investments in associates	75,408	16,549
Other investments	122,497	102,888
	197,905	119,437