Vapeandecigstore Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08836956 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST JANUARY 2021

FOR

VAPEANDECIGSTORE LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

G Ryan

Ms. N Sawyer

REGISTERED OFFICE:

Manufactory House

Bell Lane

Hertford

Hertfordshire

SG14 1BP

REGISTERED NUMBER:

08836956 (England and Wales)

ACCOUNTANTS:

Cook & Partners Limited

Manufactory House

Bell Lane

Hertford

Hertfordshire

SG14 1BP

FIXED ASSETS

Tangible assets

4

1,145

2,914

CURRENT ASSETS

Stocks

17,630

36,871

Debtors

5

36,395

9,900

Cash at bank and in hand

608

510

54,633

47,281

CREDITORS

Amounts falling due within one year

6

43,094

60,278

NET CURRENT ASSETS/(LIABILITIES)

11,539

(12,997

)

TOTAL ASSETS LESS CURRENT LIABILITIES

12,684

(10,083

)

CREDITORS

Amounts falling due after more than one year

7

50,000

-

NET LIABILITIES

(37,316

)

(10,083

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(37,416

)

(10,183

)

SHAREHOLDERS' FUNDS

(37,316

)

(10,083

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st January 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st January 2021 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13th October 2021 and were signed on its behalf by:

G Ryan - Director

Ms. N Sawyer - Director

1.	STATUTORY INFORMATION

Vapeandecigstore Ltd 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

Accounting convention

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 Justification

The directors have assessed various factors and risks affecting the company and its ability in these difficult economic times to continue to trade as a going concern. The directors have not identified any material uncertainties or risks related to events or conditions that could affect the carrying values of the company's assets and liabilities as at the balance sheet date. Therefore the financial statements for the year ended 31st January 2021 have been prepared using the going concern basis of accounting.

Revenue

Revenue - Described as turnover - is the value of goods (net of VAT) provided to customers during the year, plus the value of work (net of VAT) performed during the year with respect to services.

Revenue is recognised on the sale of goods when the goods are delivered and title has passed. Revenue is recognised on the provision of services once completed.

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

Computer equipment

-

20% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, 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 Statement of Income and Retained Earnings, 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2020 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Computer

machinery

equipment

Totals

£

£

£

COST

At 1st February 2020

and 31st January 2021

4,794

4,860

9,654

DEPRECIATION

At 1st February 2020

3,746

2,994

6,740

Charge for year

797

972

1,769

At 31st January 2021

4,543

3,966

8,509

NET BOOK VALUE

At 31st January 2021

251

894

1,145

At 31st January 2020

1,048

1,866

2,914

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Other debtors

33,706

9,900

Tax

2,689

-

36,395

9,900

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts

8,337

18,831

Other loans

10,405

22,608

Trade creditors

-

5,244

Tax

2,296

4,041

Social security and other taxes

662

924

VAT

9,620

5,741

Other creditors

-

114

Directors' current accounts

274

275

Accrued expenses

11,500

2,500

43,094

60,278

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loans - 1-2 years

50,000

-