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Registered number: 13386374 VAQUITA APPAREL LTD UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 APRIL 2026
VAQUITA APPAREL LTD REGISTERED NUMBER: 13386374 STATEMENT OF FINANCIAL POSITION AS AT 30 APRIL 2026
|  | 30 April |  | 31 December
|  | 2026 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 4 |  | 14,077 |  | 28,846
|  |  | 14,077 |  | 28,846
Current assets |  |  |  |  |
Stocks |  | 10,849 |  | 273 |
Debtors: amounts falling due within one year | 5 | 7,350 |  | 26,283 |
Cash at bank and in hand |  | - |  | 5,367 |
|  | 18,199 |  | 31,923 |
Creditors: amounts falling due within one year | 6 | (52,312) |  | (131,426) |
Net current liabilities |  |  | (34,113) |  | (99,503)
Total assets less current liabilities |  |  | (20,036) |  | (70,657)
Creditors: amounts falling due after more than one year |  |  | (72,380) |  | -
Net liabilities |  |  | (92,416) |  | (70,657)
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 100 |  | 100
Profit and loss account |  |  | (92,516) |  | (70,757)
|  |  | (92,416) |  | (70,657)
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VAQUITA APPAREL LTD REGISTERED NUMBER: 13386374 STATEMENT OF FINANCIAL POSITION (CONTINUED) AS AT 30 APRIL 2026 The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. 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. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the income statement in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
Rosina Sands
Director
Date: 2 July 2026
The notes on pages 3 to 9 form part of these financial statements. Page 2
VAQUITA APPAREL LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 APRIL 2026
1. | General information
Vaquita Apparel Ltd is a private company limited by shares and incorporated in England and Wales, registration number 13386374. The registered office is Unit 6 Tomo Business Park, Tomo Road, Stowmarket, Suffolk, England, IP14 5EP. The company's reporting period has been extended from 31 December 2025 to 30 April 2026, therefore the financial statements are presented for a period longer than one year and the comparative amounts presented in the financial statements will not be entirely comparable as a result. The company changed the reporting date for commercial reasons. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
| 2.2 | Going concern
The financial statements have been prepared on a going concern basis. After the year end, the Company sold its trade and certain assets. The director has a reasonable expectation that the Company will have sufficient resources to meet its liabilities as they fall due for at least twelve months from the date of approval of the financial statements by the continued support of the director, who has confirmed they will not seek repayment of their loan unless funds are available. Page 3
VAQUITA APPAREL LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 APRIL 2026 2.Accounting policies (continued)
| 2.3 | Foreign currency translation
Functional and presentation currency The Company's functional and presentational currency is GBP. Transactions and balances Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined. Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges. Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Income statement within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.
| 2.4 | Turnover
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised: Sale of goods Turnover from the sale of goods is recognised when all of the following conditions are satisfied: ∙the Company has transferred the significant risks and rewards of ownership to the buyer; ∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; ∙the amount of turnover can be measured reliably; ∙it is probable that the Company will receive the consideration due under the transaction; and ∙the costs incurred or to be incurred in respect of the transaction can be measured reliably. Turnover represents the value of apparel, accessories and other invoiced work excluding Value Added Tax. Page 4
VAQUITA APPAREL LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 APRIL 2026 2.Accounting policies (continued)
| 2.5 | Operating leases: the Company as lessee
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term. 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.
| 2.6 | Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
| 2.7 | Pensions
Defined contribution pension plan The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.
| 2.8 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following basis:
|  |  |  | Plant and machinery | - | 15% | Straight line
|  |  |  | Motor vehicles | - | 25% | Straight line
|  |  |  | Fixtures and fittings | - | 15% | Straight line
|  |  |  | Office equipment | - | 15% | Straight line
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. Page 5
VAQUITA APPAREL LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 APRIL 2026 2.Accounting policies (continued)
| 2.9 | Stocks
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads. At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.
| 2.10 | Debtors
Short-term debtors are measured at transaction price, less any impairment.
| 2.11 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
| 2.12 | Creditors
Short-term 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.
3. | Employees
| The average monthly number of employees, including directors, during the period was 3 (2024 - 2).
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VAQUITA APPAREL LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 APRIL 2026
4. | Tangible fixed assets
|  | Plant and machinery | Motor vehicles | Fixtures and fittings | Office equipment | Total
|  | £ | £ | £ | £ | £
| Cost |  |  |  |  |
| At 1 January 2025 | 25,838 | 6,303 | 939 | 4,051 | 37,131
| Additions | 108 | - | 247 | - | 355
| Disposals | (7,500) | (6,303) | - | (317) | (14,120)
| At 30 April 2026 | 18,446 | - | 1,186 | 3,734 | 23,366
| Depreciation |  |  |  |  |
| At 1 January 2025 | 5,953 | 525 | 307 | 1,500 | 8,285
| Charge for the year | 4,149 | 1,379 | 228 | 810 | 6,566
| Disposals | (3,469) | (1,904) | - | (189) | (5,562)
| At 30 April 2026 | 6,633 | - | 535 | 2,121 | 9,289
| Net book value |  |  |  |  |
| At 30 April 2026 | 11,813 | - | 651 | 1,613 | 14,077
| At 31 December 2024 | 19,885 | 5,778 | 632 | 2,551 | 28,846
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VAQUITA APPAREL LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 APRIL 2026
5. | Debtors
|  |  |  |  | 30 April | 31 December
|  |  |  |  | 2026 | 2024
|  |  |  |  | £ | £
| Trade debtors | 3,727 | 24,547
| Other debtors | 3,623 | -
| Prepayments and accrued income | - | 1,736
|  | 7,350 | 26,283
6. | Creditors: Amounts falling due within one year
|  |  |  |  | 30 April | 31 December
|  |  |  |  | 2026 | 2024
|  |  |  |  | £ | £
| Trade creditors | 10,216 | 27,741
| Amounts owed to other participating interests | 26,155 | -
| Other taxation and social security | - | 5,057
| Other creditors | 13,996 | 89,154
| Accruals and deferred income | 1,945 | 9,474
|  | 52,312 | 131,426
7. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 30 April | 31 December
|  |  |  |  | 2026 | 2024
|  |  |  |  | £ | £
| Other creditors | 72,380 | -
|  | 72,380 | -
8. | Pension commitments
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £413. There are no contributions payable to the fund at the reporting date. Page 8
VAQUITA APPAREL LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 APRIL 2026
9. | Transactions with directors
At the period end the director was owed £85,731 (2024: £88,135) and is shown within other creditors due within and after one year. The amounts repaid to the director in the period amounted to £2,404.
10. | Post balance sheet events
On 1 May 2026 the trade, assets and employees of Vaquita Apparel Ltd were acquired by Tessen Sports Services Ltd.
Page 9