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Registered number:
FOR THE PERIOD ENDED 29 DECEMBER 2024
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UK VAP LIMITED
COMPANY INFORMATION
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UK VAP LIMITED
CONTENTS
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UK VAP LIMITED
GROUP STRATEGIC REPORT
FOR THE PERIOD ENDED 29 DECEMBER 2024
The principal activity of the Group during the year continued to be operating Italian inspired fast casual dining restaurants.
On 3 February 2023, UK VAP Bankside Limited ceased trading and a voluntary liquidator was appointed to the subsidiary. UK VAP DK1 Limited, UK VAP Leeds 1 Limited, UK VAP DK3 Limited and UK VAP DK4 Limited all ceased trading during 2023 and the subsidiaries were dissolved via compulsory strike-off in January and February 2024. On 20 November 2025, UK VAP GPS Limited ceased trading, and an administrator was appointed to the subsidiary.
At the reporting date, the Group owned five restaurants, of which four were situated in London at Great Portland Street, Paddington, Tottenham Court Road and Tower Bridge, and one situated in Manchester.
The financial results for the year as set out on page 10 benefitted from good turnover growth, with turnover increasing to £16.0m from £14.8m in the previous year, an increase of 8%. The operating loss of the business significantly reduced in the year, falling to £0.1m from £1.2m in the previous year. This was driven by the increased turnover and stronger cost management. The Group net liabilities increased by £0.4m to £6.0m. Group cash balances increased from £250k to £860k. The Directors are satisfied with the performance of the Company and Group and are confident that management can continue to improve the performance of the Group by increasing turnover and managing costs tightly. On 26 June 2024, the company acquired the entire share capital of VAP North 1 Limited, a restaurant based in Manchester, from Love & Food Restaurant Holdings S.R.O and Savour Group Limited, both related parties. Consideration of £1,181,741 was satisfied by the allotment and issue of 51 ordinary shares to Love & Food Holdings S.R.O and 49 ordinary shares to Savour Group Limited. All of the 100 ordinary shares issued had a nominal value of £0.01 each.
The Directors consider that the principal risk to the Group operating in the restaurant industry is competition from other restaurants. This risk is mitigated by the strong brand image that the Group has developed and the continuing attention to the quality of food and beverages served to customers as well as the guest experience when visiting the restaurants.
Recruitment and retention of skilled staff remain critical to delivering consistent service and maintaining brand reputation. Labour shortages, wage inflation, or high turnover could affect service quality and operational efficiency. Efforts are made on a continual basis by the Group with regard to compensation, training provided and employee engagement to ensure that the Group is able to operate effectively. Consumer spending is sensitive to broader economic trends, including inflation, interest rates, and employment levels. A downturn in the UK economy or reduced discretionary income may lead to lower footfall and average spend per customer. The Group mitigates this risk with competitive pricing and marketing promotions. Increases in the prices of raw materials can adversely impact the Group’s profitability. This risk is managed by maintaining strong relationships with the Group’s key suppliers to ensure continuity of supply with the framework of competitive pricing together with menu development.
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UK VAP LIMITED
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE PERIOD ENDED 29 DECEMBER 2024
The size and nature of the Company and Group’s business requires the use of an array of Key Performance Indicators (‘KPIs’) both financial and strategic to measure performance in relation to its business objectives. With regards to day-to day operation of the restaurants, the financial KPIs on the revenue side include transactions, average transaction value and like-for-like sales growth, and on the cost side cost of goods, labour, property and controllable costs. For the Group as a whole, Revenue and Earnings before Interest Tax Depreciation Amortisation and Impairment (EBITDA) are the primary financial KPIs and are shown below.
2024 2023 Variance Revenue £16,037k £14,840k +8.0% EBITDA £437k £(1,118)k +61.0%
This report was approved by the board on 15 December 2025 and signed on its behalf.
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UK VAP LIMITED
DIRECTORS' REPORT
FOR THE PERIOD ENDED 29 DECEMBER 2024
The directors present their report and the financial statements for the period ended 29 December 2024.
The directors are responsible for preparing the Group Strategic Report, the Directors' Report and the consolidated financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Group's financial statements and then apply them consistently;
∙make judgments and accounting estimates that are reasonable and prudent;
∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group will continue in business.
The directors are 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 the Group and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The loss for the period, after taxation, amounted to £457,684 (2023 - loss £1,422,494).
The directors who served during the period were:
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UK VAP LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE PERIOD ENDED 29 DECEMBER 2024
The auditors, Nyman Libson Paul LLP, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board on
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UK VAP LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF UK VAP LIMITED
We have audited the financial statements of UK VAP Limited (the 'parent company') and its subsidiaries (the 'Group') for the period ended 29 December 2024, which comprise the Consolidated Statement of Comprehensive Income, the Consolidated Balance Sheet, the Company Balance Sheet, the Consolidated Statement of Cash Flows, the Consolidated Statement of Changes in Equity, the Company Statement of Changes in Equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
We draw attention to note 2.3 in the financial statements, which indicates that the group's trading has been impacted by adverse factors impacting the hospitality sector. The directors of the parent company have taken the decision to liquidate a few related restaurants since the Covid-19 pandemic.
As stated in note 2.3, these events or conditions, along with the other matters as set forth in note 2.3, indicate that a material uncertainty exists that may cast significant doubt on the Group's or the parent company's ability to continue as a going concern. Our opinion is not modified in respect of this matter.
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
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UK VAP LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF UK VAP LIMITED (CONTINUED)
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Group Strategic Report and the Directors' Report for the financial period for which the financial statements are prepared is consistent with the financial statements; and
∙the Group Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Directors' Report.
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UK VAP LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF UK VAP LIMITED (CONTINUED)
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these Group financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:
∙the nature of the industry and specific sector, the control environment and business performance;
∙results of our enquiries of management about their own identification and assessment of the risks of irregularities;
∙matters identified from the review of company documentation in respect of their policies and procedures relating to:
−identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance;
−detecting and responding to the risks of fraud and whether they have knowledge of any actual suspected or alleged fraud;
−internal controls established to mitigate risks of fraud or non-compliance with laws and regulations; and
−matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.
We also obtained an understanding of the legal and regulatory frameworks that the company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included UK legislation and regulations in relation to the operation and governance of the company, direct and indirect tax legislation.
In addition, we considered other laws and regulations that could have an effect on the company and result in the imposition of financial or other penalties and litigation. Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the directors and other management and inspection of regulatory and legal correspondence, if any. These limited procedures did not identify actual or suspected non-compliance.
All matters in relation to non-compliance with laws and regulations and potential fraud risks were communicated to all members of the engagement team and we remained alert to any indications of non-compliance throughout the audit.
As a result of performing the above, we identified the susceptibility of assets to misappropriation as a potential risk of fraud.
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UK VAP LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF UK VAP LIMITED (CONTINUED)
Our procedures to respond to risks identified included the following:
∙reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;
∙enquiries with management concerning actual and potential litigation and claims;
∙assessing the appropriateness and where appropriate with third parties concerning actual and potential litigation and claims;
∙physical inspections of assets;
∙performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;
∙examining minutes of meetings of those charged with governance and correspondence with HMRC and other third parties; and
∙in addressing the risk of fraud through management override of controls, reviewing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.
There are inherent limitations in the audit procedures described above even though we have properly planned and performed our audit in accordance with auditing standards. The further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. As with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations. We did not identify any key audit matters relating to irregularities, including fraud.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.
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UK VAP LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF UK VAP LIMITED (CONTINUED)
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Chartered Accountants
Statutory Auditors
124 Finchley Road
NW3 5JS
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UK VAP LIMITED
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE PERIOD ENDED 29 DECEMBER 2024
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UK VAP LIMITED
REGISTERED NUMBER: 12659879
CONSOLIDATED BALANCE SHEET
AS AT 29 DECEMBER 2024
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 15 December 2025.
The notes on pages 17 to 38 form part of these financial statements.
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UK VAP LIMITED
REGISTERED NUMBER: 12659879
COMPANY BALANCE SHEET
AS AT 29 DECEMBER 2024
The financial statements were approved and authorised for issue by the board and were signed on its behalf on
The notes on pages 17 to 38 form part of these financial statements.
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UK VAP LIMITED
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 29 DECEMBER 2024
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UK VAP LIMITED
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 29 DECEMBER 2024
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UK VAP LIMITED
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE PERIOD ENDED 29 DECEMBER 2024
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UK VAP LIMITED
CONSOLIDATED ANALYSIS OF NET DEBT
FOR THE PERIOD ENDED 29 DECEMBER 2024
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UK VAP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 DECEMBER 2024
UK VAP Limited is a private company limited by shares incorporated in England and Wales. The registered office is 4th Floor, 1-3 Portland Place, London, W1B 1PN.
The group consists of UK VAP Limited and all of its subsidiaries.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Group management to exercise judgment in applying the Group's accounting policies (see note 3).
The company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of Comprehensive Income in these financial statements.
The group's functional and presentational currency is GBP.
The following principal accounting policies have been applied:
The consolidated group financial statements consist of the financial statements of the parent company UK VAP Limited together with all entities controlled by the parent company (its subsidiaries) and the group's share of its interests in joint ventures and associates. Subsidiaries acquired during the year are consolidated using the acquisition method. Their results are incorporated from the date that control passes.
All financial statements are made up to 29 December 2024. Where necessary, adjustments are made to the financial statements of subsdiaries to bring the accounting policies used in line with those used by the other members of the group. All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred. Subsidiaries are consolidated in the group's financial statements from the date that control commences until the date that control ceases.
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UK VAP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 DECEMBER 2024
2.Accounting policies (continued)
The directors has made enquiries into the adequacy of the group's financial resources through a review of the group's budget and financial projections, including capital expenditure plans and cash flow forecasts. The group has modelled a range of scenarios, with the base forecast being one in which, over the next 12-24 months, sales gradually recover. In addition, the directors have considered several 'downside' scenarios, including adjustment to the base forecast such as a period of lower like-for-like sales. The directors are satisfied that the group has sufficient liquidity to withstand adjustments to the base forecasts, as well as downside scenarios.
Material uncertainty, which may cast significant doubt over the group's ability to trade as a going concern, has resulted from a net loss and net liability position in the year. However, the group received significant cash investments after the balance sheet date, which will provide additional funding going forwards. Although a material uncertainty exists, the directors are satisfied that the group will continue in operational existence for the forseeable future. For this reason, the group continues to adopt the going concern basis in preparing its financial statements.
The comparatives of the financial statements were prepared for the period from 1 January 2023 to 31 December 2023. Subsequently, the current period results were prepared for the period 1 January 2024 to 29 December 2024. Thus, the comparatives are not entirely comparable.
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
Revenue from food and beverage sales, and management recharges is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer, the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transactions will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
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UK VAP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 DECEMBER 2024
2.Accounting policies (continued)
Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.
Intangible assets acquired seperately from a business are recognised at cost and are subsequently
measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill represents the excess of the cost of aquisition of a business over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life. Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Licenses - Amortised over the life of the asset Goodwill - Amortised over 10 years
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UK VAP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 DECEMBER 2024
2.Accounting policies (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on the following basis.
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential. At each balance sheet date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognized as an impairment loss in profit or loss, along with any reversals of impairment losses.
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UK VAP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 DECEMBER 2024
2.Accounting policies (continued)
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of unused holiday entitlement is recognised in the period in which the employees services are received. Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.
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UK VAP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 DECEMBER 2024
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. Key sources of estimation uncertainty The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows: Recoverability of intercompany receivables Intercompany receivables are assessed for impairment by taking into account the liquidity of the intercompany counterparty, as well as historical experience. An impairment is recognised if the cash flows that are expected to be received, discounted at the original effective interest rate where applicable, are lower than the cash flows that are due to the company. Dilapidations and contingencies Provisions are made for asset retirement obligations, dilapidations and contingencies. These provisions require management's best estimate of the costs that will be incurred based on legislative and contractual requirements. In addition, the timing of the cash flows and the discount rate used to establish net present value of the obligations require management's judgements.
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UK VAP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 DECEMBER 2024
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UK VAP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 DECEMBER 2024
Page 24
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UK VAP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 DECEMBER 2024
Page 25
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UK VAP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 DECEMBER 2024
10.Taxation (continued)
There were no factors that may affect future tax charges.
Page 26
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UK VAP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 DECEMBER 2024
Page 27
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UK VAP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 DECEMBER 2024
11.Intangible assets (continued)
Page 28
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UK VAP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 DECEMBER 2024
Page 29
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UK VAP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 DECEMBER 2024
12.Tangible fixed assets (continued)
Page 30
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UK VAP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 DECEMBER 2024
Page 31
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UK VAP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 DECEMBER 2024
Page 32
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UK VAP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 DECEMBER 2024
Page 33
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UK VAP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 DECEMBER 2024
The bank overdrafts are secured by fixed and floating charges over all assets of the group.
Page 34
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UK VAP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 DECEMBER 2024
Page 35
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UK VAP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 DECEMBER 2024
Page 36
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UK VAP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 DECEMBER 2024
21.Business combinations (continued)
The group operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the group in independently administered funds. The pension cost charge represents contributions payable by the group to the fund and amounted to £68,537 (2023: £70,623). There was £7,281 outstanding at the year end (2023: £6,786).
24.Other financial commitments
UK VAP Limited has granted an unlimited multilateral guarantee to HSBC in respect of the amounts due to the bank from the company and group, UK VAP Limited and its subsidiaries.
Page 37
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UK VAP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 DECEMBER 2024
UK VAP Limited is controlled as part of a joint venture by Love & Food Restaurant Holdings S.R.O (L&F) and Savour Group Limited.
Page 38
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