REGISTERED NUMBER: 08970557 (England and Wales)

VOLARE (CARDIFF) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A De Meo

S Vara

D Ventura

REGISTERED OFFICE:

7 Craiglee Drive

Cardiff

SOUTH GLAMORGAN

CF10 4BN

REGISTERED NUMBER:

08970557 (England and Wales)

FIXED ASSETS

Tangible assets

4

45,919

34,915

CURRENT ASSETS

Stocks

5

4,550

4,840

Debtors

6

112,528

140,043

Cash at bank and in hand

43,407

34,768

160,485

179,651

CREDITORS

Amounts falling due within one year

7

199,838

193,213

NET CURRENT LIABILITIES

(39,353

)

(13,562

)

TOTAL ASSETS LESS CURRENT LIABILITIES

6,566

21,353

CREDITORS

Amounts falling due after more than one year

8

3,741

13,021

NET ASSETS

2,825

8,332

CAPITAL AND RESERVES

Called up share capital

300

300

Retained earnings

2,525

8,032

SHAREHOLDERS' FUNDS

2,825

8,332

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 13 January 2026 and were signed on its behalf by:

S Vara - Director

1.	STATUTORY INFORMATION

Volare (Cardiff) 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 historic cost convention.

Going Concern

The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future. In making their assessment, the directors have reviewed the balance sheet, the likely future cashflows of the business and have considered the facilities that are available to the company along with their continued support.

At the date of approving the financial statements the Directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and that the going concern basis of accounting remains appropriate. The directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover

Revenue represents retail sales to customers and is measured at fair value of the consideration received or receivable and is recognised on the day that the sale is made.

Tangible fixed assets

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

Plant and machinery

-

20% on cost

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

33% on reducing balance

Stocks

Stocks are valued at the estimated selling price less costs to complete and sell, after making due allowance for obsolete and slow-moving items.

Taxation

Taxation for the year 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 year 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.

Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is a reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions are recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised with deferred income.

Provisions

Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefit will be required in settlement and the amount can be reliable estimated.

Where there are a number of similar obligations, the likelihood that an outflow of economic benefits will be required in settlement is determined by considering the class of obligation as a whole. A provision is recognised even if the likelihood of an outflow with respect of any one item in the same class of obligations may be small.

Provisions are not made for future operating losses.

Provisions are measures at the present value of the cost expected to be required to settle the obligation using a pre-tax rate that reflects current market assessment of the time value of money and the risks specific to the obligation. The increase in the provision due to the passing of time is recognised as a cost in the income statement.

Significant Judgements and Estimates

In the application of the company's accounting policies, which are described in note 1, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

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 if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Impairments

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the assets cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Cash and cash equivalents

Cash and cash equivalents are basic financial instruments and include cash in hand and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Financial instruments

The company has elected to apply the provisions of Section 11 "Basic Financial Instruments".

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other debtors, loans to related companies and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the financial asset is measured at the present value of the future receipts discounted at a market rate of interest.

Basic financial liabilities

Basic financial liabilities, including trade and other creditors, loans to related companies and bank loans are initially recognised at transaction price unless the arrangement constitutes a financial transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2024 - 17 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 May 2024

36,659

69,972

1,439

108,070

Additions

4,400

13,532

-

17,932

At 30 April 2025

41,059

83,504

1,439

126,002

DEPRECIATION

At 1 May 2024

24,000

47,968

1,187

73,155

Charge for year

3,045

3,800

83

6,928

At 30 April 2025

27,045

51,768

1,270

80,083

NET BOOK VALUE

At 30 April 2025

14,014

31,736

169

45,919

At 30 April 2024

12,659

22,004

252

34,915

5.

STOCKS

2025

2024

£

£

Stocks

4,550

4,840

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

4,487

6,946

Other debtors

108,041

133,097

112,528

140,043

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

101,864

30,496

Taxation and social security

40,750

45,512

Other creditors

57,224

117,205

199,838

193,213

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Other creditors

3,741

13,021

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

£

Within one year

12,000

12,000

10.	TRANSACTIONS WITH DIRECTORS

As at 30 April 2025 the company owed the directors £17,405 (2024 - £18,170) which is included within the creditors amounts falling due within one year.

The balance is interest free and repayable on demand.

11.	RELATED PARTY DISCLOSURES

As at 30 April 2025 an amount of £41,775 (2024: £41,775) was owed to the company by Andosa Limited. This balance is included within debtors due within one year. Andosa Limited is considered a related party due to common control.

As at 30 April 2025 an amount of £62,000 (2024: £65,000) was owed to the company by Aviv (Cardiff) Ltd. This balance is included within debtors due within one year. Aviv (Cardiff) Ltd is considered a related party due to common control.

As at 30 April 2025 an amount of £35,490 (2024 £8,970 owed to) was owed from the company to Illuma Cardiff Ltd. This balance is included within creditors due within one year.Illuma Cardiff Ltd is considered a related party due to common control.

As at 30 April 2025 an amount of £54,083 (2024: £29,803) was owed by the company to Vedeva Cardiff Limited. This balance is included within creditors due within one year.Vedeva Cardiff Ltd is considered a related party due to common control.

During the year the company was charged rent of £3,000 (2024: £nil) by Aviv (Cardiff) Ltd.

All related party transactions were unsecured, interest-free, and repayable on demand, unless otherwise stated.