Vanza Ltd 31/03/2022 iXBRL

Vanza Ltd 31/03/2022 iXBRL

VANZA LTD - Company Information

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2 31/03/2022 2022-03-31 false false false false false false false false false false true false false true false false false false false true false No description of principal activities is disclosed 2021-04-01 Sage Accounts Production 21.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 12521677 2021-04-01 2022-03-31 12521677 2022-03-31 12521677 2021-03-31 12521677 2020-04-01 2021-03-31 12521677 2021-03-31 12521677 2020-03-31 12521677 core:PlantMachinery 2021-04-01 2022-03-31 12521677 core:FurnitureFittingsToolsEquipment 2021-04-01 2022-03-31 12521677 bus:Director1 2021-04-01 2022-03-31 12521677 core:PlantMachinery 2021-03-31 12521677 core:FurnitureFittingsToolsEquipment 2021-03-31 12521677 core:PlantMachinery 2022-03-31 12521677 core:FurnitureFittingsToolsEquipment 2022-03-31 12521677 core:MotorVehicles 2022-03-31 12521677 core:RetainedEarningsAccumulatedLosses 2020-04-01 2021-03-31 12521677 core:RetainedEarningsAccumulatedLosses 2021-04-01 2022-03-31 12521677 core:WithinOneYear 2022-03-31 12521677 core:WithinOneYear 2021-03-31 12521677 core:ShareCapital 2022-03-31 12521677 core:ShareCapital 2021-03-31 12521677 core:RetainedEarningsAccumulatedLosses 2022-03-31 12521677 core:RetainedEarningsAccumulatedLosses 2021-03-31 12521677 core:ShareCapital 2020-03-31 12521677 core:MotorVehicles 2021-04-01 2022-03-31 12521677 core:PlantMachinery 2021-03-31 12521677 core:FurnitureFittingsToolsEquipment 2021-03-31 12521677 bus:SmallEntities 2021-04-01 2022-03-31 12521677 bus:AuditExempt-NoAccountantsReport 2021-04-01 2022-03-31 12521677 bus:FullAccounts 2021-04-01 2022-03-31 12521677 bus:SmallCompaniesRegimeForAccounts 2021-04-01 2022-03-31 12521677 bus:PrivateLimitedCompanyLtd 2021-04-01 2022-03-31
Company registration number: 12521677
Vanza Ltd
Unaudited filleted financial statements
31 March 2022
Vanza Ltd
Contents
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Vanza Ltd
Statement of financial position
31 March 2022
31/03/22 31/03/21
Note £ £ £ £
Fixed assets
Tangible assets 5 42,223 2,213
_______ _______
42,223 2,213
Current assets
Stocks 661,479 464,093
Debtors 6 42,338 7,580
Cash at bank and in hand 48,516 79,166
_______ _______
752,333 550,839
Creditors: amounts falling due
within one year 7 ( 611,236) ( 437,010)
_______ _______
Net current assets 141,097 113,829
_______ _______
Total assets less current liabilities 183,320 116,042
Provisions for liabilities ( 10,002) -
_______ _______
Net assets 173,318 116,042
_______ _______
Capital and reserves
Called up share capital 1 1
Profit and loss account 173,317 116,041
_______ _______
Shareholder funds 173,318 116,042
_______ _______
For the year ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 23 December 2022 , and are signed on behalf of the board by:
Mr Gary Powell
Director
Company registration number: 12521677
Vanza Ltd
Statement of changes in equity
Year ended 31 March 2022
Called up share capital Profit and loss account Total
£ £ £
At 1 July 2020 1 - 1
Profit for the year 116,041 116,041
_______ _______ _______
Total comprehensive income for the year - 116,041 116,041
_______ _______ _______
At 31 March 2021 and 1 April 2021 1 116,041 116,042
Profit for the year 61,276 61,276
_______ _______ _______
Total comprehensive income for the year - 61,276 61,276
Dividends paid and payable ( 4,000) ( 4,000)
_______ _______ _______
Total investments by and distributions to owners - ( 4,000) ( 4,000)
_______ _______ _______
At 31 March 2022 1 173,317 173,318
_______ _______ _______
Vanza Ltd
Notes to the financial statements
Year ended 31 March 2022
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 1m Longships Road, Cardiff, CF10 4RP.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 25 % reducing balance
Fittings fixtures and equipment - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2021: 2 ).
5. Tangible assets
Plant and machinery Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £
Cost
At 1 April 2021 1,450 1,206 - 2,656
Additions 16,709 2,243 23,114 42,066
_______ _______ _______ _______
At 31 March 2022 18,159 3,449 23,114 44,722
_______ _______ _______ _______
Depreciation
At 1 April 2021 242 201 - 443
Charge for the year 787 306 963 2,056
_______ _______ _______ _______
At 31 March 2022 1,029 507 963 2,499
_______ _______ _______ _______
Carrying amount
At 31 March 2022 17,130 2,942 22,151 42,223
_______ _______ _______ _______
At 31 March 2021 1,208 1,005 - 2,213
_______ _______ _______ _______
6. Debtors
31/03/22 31/03/21
£ £
Other debtors 42,338 7,580
_______ _______
7. Creditors: amounts falling due within one year
31/03/22 31/03/21
£ £
Trade creditors 10,339 40,693
Corporation tax 7,757 26,700
Social security and other taxes 2,200 4,023
Other creditors 590,940 365,594
_______ _______
611,236 437,010
_______ _______
8. Related party transactions
During the year the company entered into the following transactions with related parties:
Transaction value Balance owed by/(owed to)
Year Period Year Period
ended ended ended ended
31/03/22 31/03/21 31/03/22 31/03/21
£ £ £ £
Elysian Trading Limited (333,572) (359,250) ( 333,572) ( 359,250)
_______ _______ _______ _______
Elysian Trading Limited and Vanza Limited are companies under common control. The intercompany balance is unsecured, interest free and repayable on demand .