VPAR Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 06581897 (England and Wales)

VPAR LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 OCTOBER 2024 TO 31 MARCH 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr J S Sykes

Mr J Stoop

Mr J D Bolsover

REGISTERED OFFICE:

Rosedale Studios

Rosedale Road

Richmond

London

TW9 2SX

REGISTERED NUMBER:

06581897 (England and Wales)

ACCOUNTANTS:

Morris Crocker

Chartered Accountants

Lake House

2 Port Way

Port Solent

Portsmouth

Hampshire

PO6 4TY

FIXED ASSETS

Intangible assets

4

286,820

298,145

Tangible assets

5

1,301

1,688

Investments

6

600

288,721

300,433

CURRENT ASSETS

Debtors

7

586,340

597,640

Cash at bank

35,004

35,872

621,344

633,512

CREDITORS

Amounts falling due within one year

8

1,587,017

1,433,450

NET CURRENT LIABILITIES

(965,673

)

(799,938

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(676,952

)

(499,505

)

CREDITORS

Amounts falling due after more than one
year

9

28,750

NET LIABILITIES

(705,702

)

(528,255

)

CAPITAL AND RESERVES

Called up share capital

281

Share premium

6,069,180

Retained earnings

(6,775,163

)

(6,597,716

)

SHAREHOLDERS' FUNDS

(705,702

)

(528,255

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 December 2025 and were signed on its behalf by:

Mr J S Sykes - Director

1.	STATUTORY INFORMATION

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

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going Concern

The company made a loss of £183,448 for the year ended 31 March 2025 (2024: loss £203,534 ). The company has net current liabilities of £965,673 (2024: £799,938) and total net liabilities of £705,702 (2024: net liabilities of £528,255). The net current liabilities position includes balances owed to directors.The directors have expressed their intention not to seek repayment of the amounts owed until the company has the resources to do so. The directors are confident that the investment in designing and marketing the product will generate profit for the company. On this basis the directors considers it appropriate for these financial statements to be prepared on a going concern basis.

Turnover

Turnover represents net invoiced sales of goods/services, excluding value added tax. Revenues are recognised when the event occurs. Any revenues received prior to the event are recognised in the accounts as deferred income.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

App Creation is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties and investments in non-puttable ordinary shares.

Trade and other debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, deposits with banks and other short-term highly liquid investments and bank overdrafts. In the balance sheet, bank overdrafts are shown within borrowings or current liabilities.

Trade and other creditors

Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Share based payments

The company operates an equity settled share-based payment arrangement, under which the company receives services from employees of the group. Equity settled share-based payments are measured at fair value at the date of the grant. The fair value determined at the grant date is recognised as an expense on a straight line basis over the vesting period.

Service and performance conditions are vesting conditions. Cancellations are treated as accelerated vesting and all remaining future charges are immediately recognised in the income statement. Awards that lapse or are forfeited result in a credit to the income statement (reversing all previously recognised charges) in the year in which they lapse or are forfeited.

Change of year end

The financial statements have been prepared for a period of six months following a change in the company’s financial year end. As a result, the amounts presented in these financial statements are not directly comparable with those of the previous period, which covered eighteen months.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 4 (2024 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 October 2024

2,483,189

Additions

81,553

At 31 March 2025

2,564,742

AMORTISATION

At 1 October 2024

2,185,044

Charge for period

92,878

At 31 March 2025

2,277,922

NET BOOK VALUE

At 31 March 2025

286,820

At 30 September 2024

298,145

5.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 October 2024

and 31 March 2025

217,688

DEPRECIATION

At 1 October 2024

216,000

Charge for period

387

At 31 March 2025

216,387

NET BOOK VALUE

At 31 March 2025

1,301

At 30 September 2024

1,688

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 October 2024

and 31 March 2025

600

NET BOOK VALUE

At 31 March 2025

600

At 30 September 2024

600

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade debtors

57,054

36,854

Other debtors

529,286

560,786

586,340

597,640

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Bank loans and overdrafts

5,000

Trade creditors

42,473

24,009

Taxation and social security

14,167

17,524

Other creditors

1,525,377

1,386,917

1,587,017

1,433,450

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2025

2024

£

Bank loans

28,750

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

8,750

10.	SHARE-BASED PAYMENT TRANSACTIONS

VPAR Ltd operates an equity-settled share based remuneration scheme for employees. The vesting condition of the scheme is that the individual remains an employee of the group over the three year vesting period.

Average

exercise

price (p

)

Number

price (p

)

Number

2025

2024

Outstanding at the
beginning of the year

0.00001

241,664

0.00001

241,664

Granted during the year

-

Forfeited during the year

-

Exercised during the
year

-

Expired during the year

-

0.00001

241,664

0.00001

241,664

In accordance with the accounting policy £6,001 has been recognised as an expense in the current financial period of 6 months. The total carrying value of outstanding liabilities at the year end was £36,008.

Fair value was determined using an earnings basis.