Wreckless Vape Limited iXBRL

Company Registration Number: 11926597

Wreckless Vape Limited

Director's Report and Unaudited Financial Statements

for the financial year ended 31 March 2025

Wreckless Vape Limited

DIRECTOR AND OTHER INFORMATION


Director	Thomas Maggs


Company Registration Number	11926597


Registered Office and Business Address	80 Mill Street
	Macclesfield
	Cheshire
	SK11 6NH


Accountants	Langers
	Chartered Certified Accountants
	Cheadle
	Cheshire
	SK8 1PY

Wreckless Vape Limited

DIRECTOR'S REPORT

for the financial year ended 31 March 2025

The director presents his report and the unaudited financial statements for the financial year ended 31 March 2025.

Director

The director who served during the financial year is as follows:

Thomas Maggs

Statement of Director's Responsibilities

The director is responsible for preparing the Director's Report and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law) including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A (Small Entities). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.

In preparing these financial statements, the director is required to:

▪

select suitable accounting policies and apply them consistently;

▪

make judgements and accounting estimates that are reasonable and prudent;

▪

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Special provisions relating to small companies

The above report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.

On behalf of the board

___________________________

Thomas Maggs

Director

13 December 2025

Wreckless Vape Limited

CHARTERED CERTIFIED ACCOUNTANTS REPORT

to the director on the preparation of the unaudited statutory accounts of Wreckless Vape Limited

for the financial year ended 31 March 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Wreckless Vape Limited for the financial year ended 31 March 2025 which comprise the Statement of Income and Retained Earnings, the Balance Sheet and the related notes thereto from the company's accounting records and from information and explanations you have given to us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at

<http://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html>

Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at

<http://www.accaglobal.com/ie/en/technical-activities/technical-resources-search/2009/october/factsheet-163-audit-exempt-companies.html>

__________________________________

LANGERS

Chartered Certified Accountants

Cheadle

Cheshire

SK8 1PY

13 December 2025

Wreckless Vape Limited

STATEMENT OF INCOME AND RETAINED EARNINGS

for the financial year ended 31 March 2025

	2025	2024
Notes	£	£

Turnover	139,623	133,154

Cost of sales	(68,415)	(58,051)
	─────────	─────────
Gross profit	71,208	75,103

Administrative expenses	(61,181)	(70,641)
	─────────	─────────
Operating profit	10,027	4,462

Interest payable and similar expenses	-	(1)
	─────────	─────────
Profit before taxation	10,027	4,461

Tax on profit	(1,958)	(874)
	─────────	─────────
Profit for the financial year	8,069	3,587
	─────────	─────────
Total comprehensive income	8,069	3,587

Equity dividends	(10,433)	(1,000)
Retained profit brought forward	2,264	(323)
	─────────	─────────
Accumulated (loss)/profit carried forward	(100)	2,264
	═════════	═════════

Wreckless Vape Limited

Company Registration Number: 11926597

BALANCE SHEET

as at 31 March 2025

		2025	2024
	Notes	£	£

Fixed Assets

Tangible assets

345

962

─────────

Current Assets

Stocks

3,553

7,551

Debtors

339

975

Cash and cash equivalents

4,703

7,204

─────────

8,595

15,730

─────────

Creditors: amounts falling due within one year

(8,874)

(14,145)

─────────

Net Current (Liabilities)/Assets

(279)

1,585

─────────

Total Assets less Current Liabilities

2,547

Provisions for liabilities

(66)

(183)

─────────

Net (Liabilities)/Assets

2,364

═════════

Capital and Reserves

Called up share capital

100

100

Statement of income and retained earnings

(100)

2,264

─────────

Equity attributable to owners of the company

2,364

═════════

The financial statements have been prepared 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).

For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.

The director confirms that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Approved by the Director and authorised for issue on 13 December 2025



________________________________
Thomas Maggs
Director

Wreckless Vape Limited

NOTES TO THE FINANCIAL STATEMENTS

for the financial year ended 31 March 2025

General Information

Wreckless Vape Limited is a company limited by shares incorporated and registered in the United Kingdom. The registered number of the company is 11926597. The registered office of the company is 80 Mill Street, Macclesfield, Cheshire, SK11 6NH which is also the principal place of business of the company. The principle activity of the company during the period under review was the retail of vape products. The financial statements have been presented in Pound (£) which is also the functional currency of the company.

Summary of Significant Accounting Policies

The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.

Statement of compliance

The financial statements of the company for the financial year ended 31 March 2025 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.

Basis of preparation

The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.

Turnover

Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.

Tangible assets and depreciation

Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:

Fixtures, fittings and equipment

25% Straight line

The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.

Leasing

Rentals payable under operating leases are dealt with in the Statement of Income and Retained Earnings as incurred over the period of the rental agreement.

Stocks

Stocks are valued at the lower of cost and net realisable value. Stocks are determined on a first-in first-out basis. Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition. Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Provisions

Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Employee benefits

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The company also operates a defined benefit pension scheme for its employees providing benefits based on final pensionable pay. The assets of this scheme are also held separately from those of the company, being invested with pension fund managers.

Taxation and deferred taxation

Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements.

Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date.

Foreign currencies

Ordinary share capital

The ordinary share capital of the company is presented as equity.


3.	Employees

	The average monthly number of employees, including director, during the financial year was 2, (2024 - 3).

		2025	2024
		Number	Number

	Directors	1	1
	Retail staff	1	2
		─────────	─────────
		2	3
		═════════	═════════


4.	Tangible assets
		Fixtures,	Total
		fittings and
		equipment
		£	£
	Cost
	At 1 April 2024	7,103	7,103
	Additions	127	127
		─────────	─────────
	At 31 March 2025	7,230	7,230
		─────────	─────────
	Depreciation
	At 1 April 2024	6,141	6,141
	Charge for the financial year	744	744
		─────────	─────────
	At 31 March 2025	6,885	6,885
		─────────	─────────
	Net book value
	At 31 March 2025	345	345
		═════════	═════════
	At 31 March 2024	962	962
		═════════	═════════


5.	Stocks	2025	2024
		£	£

	Finished goods and goods for resale	3,553	7,551
		═════════	═════════


6.	Debtors	2025	2024
		£	£

	Other debtors	339	497
	Prepayments and accrued income	-	478
		─────────	─────────
		339	975
		═════════	═════════


7.	Creditors	2025	2024
	Amounts falling due within one year	£	£

	Taxation	4,698	3,756
	Director's current account	2,757	8,948
	Accruals	1,419	1,441
		─────────	─────────
		8,874	14,145
		═════════	═════════


8.	Provisions for liabilities

	The amounts provided for deferred taxation are analysed below:

		Capital	Total	Total
		allowances

			2025	2024
		£	£	£

	At financial year start	183	183	322
	Released during the financial year	(117)	(117)	(139)
		─────────	─────────	─────────
	At financial year end	66	66	183
		═════════	═════════	═════════

Financial commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

Land and Buildings

2025

2024

Due:

Between one and five years

12,500

22,500

═════════

10.

Capital commitments

The company had no material capital commitments at the financial year-ended 31 March 2025.

11.

Director's advances, credits and guarantees

At 31 March 2025 the director was owed £2,757 (2024 £8,948) by the company. No interest has been charged to the company in respect of this loan which are repayable on demand and classified in creditors due within one year.

12.

Post-Balance Sheet Events

There have been no significant events affecting the company since the financial year-end.

Wreckless Vape Limited

SUPPLEMENTARY INFORMATION RELATING TO THE FINANCIAL STATEMENTS

TRADING STATEMENT

for the financial year ended 31 March 2025

	2025		2024
	£		£

Sales

139,623

133,154

─────────

Cost of sales

Opening stock

7,551

5,500

Purchases

57,816

55,123

Direct costs

6,601

4,979

─────────

71,968

65,602

Closing stock

(3,553)

(7,551)

─────────

68,415

58,051

─────────

Gross profit

71,208

75,103

─────────

Gross profit Percentage

51.0%

56.4%

─────────

Administrative expenses

Wages and salaries

15,956

21,829

Director's remuneration

15,109

13,253

Social security costs

(379)

Pension costs

600

1,450

Staff defined contribution pension costs

373

Use of premises

1,613

966

Operating lease rentals - land and buildings

10,352

10,000

Rates

375

307

Insurance

478

1,112

Fee Protection Ins

136

136

Light and heat

3,142

1,940

Cleaning

Repairs and maintenance

821

1,557

Printing, postage and stationery

917

3,401

Advertising

470

1,729

Telephone Broadband

1,345

1,249

Computer costs

1,072

254

Motor expenses

3,870

4,500

Travelling and subsistence

507

1,148

Entertaining

140

Legal and professional

430

Accountancy Fees

2,455

2,019

Bank charges

558

1,093

Credit card charges

General expenses

403

Subscriptions

439

701

Depreciation of tangible assets

744

1,089

─────────

61,181

70,641

─────────

Finance

Interest paid on overdue taxation	-	1
	─────────	─────────

Net profit	10,027	4,461
	═════════	═════════