Vital Europe UK Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06489587 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2020

for

Vital Europe UK Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr Thomas Antalffy

Dr Peter Dudas

Ms Monika Moysova

SECRETARY:

Mr Thomas Antalffy

REGISTERED OFFICE:

33 Riding House Street

London

W1W 7DZ

REGISTERED NUMBER:

06489587 (England and Wales)

ACCOUNTANTS:

ElanTax.com

Chartered Certified Accountants

Unit 3 Cedar Court

1 Royal Oak Yard

London

SE1 3GA

BANKERS:

HSBC Bank plc

117 Great Portland Street

London

W1A 4UY

FIXED ASSETS

Tangible assets

4

23,651

32,518

CURRENT ASSETS

Stocks

10,000

10,000

Debtors

5

369,889

351,055

Cash at bank and in hand

817,761

1,071,196

1,197,650

1,432,251

CREDITORS

Amounts falling due within one year

6

116,802

440,466

NET CURRENT ASSETS

1,080,848

991,785

TOTAL ASSETS LESS CURRENT LIABILITIES

1,104,499

1,024,303

CAPITAL AND RESERVES

Called up share capital

10,000

10,000

Retained earnings

1,094,499

1,014,303

1,104,499

1,024,303

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 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 31 December 2021 and were signed on its behalf by:

Dr Peter Dudas - Director

1.	STATUTORY INFORMATION

Vital Europe UK 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

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.

Turnover

Fees receivable is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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

-

25% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Computer equipment

-

33% 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

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.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 59 (2019 - 44 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 January 2020

126,051

24,397

31,545

181,993

Additions

-

802

-

802

At 31 December 2020

126,051

25,199

31,545

182,795

DEPRECIATION

At 1 January 2020

98,036

20,814

30,625

149,475

Charge for year

8,039

877

753

9,669

At 31 December 2020

106,075

21,691

31,378

159,144

NET BOOK VALUE

At 31 December 2020

19,976

3,508

167

23,651

At 31 December 2019

28,015

3,583

920

32,518

5.

DEBTORS

31.12.20

31.12.19

£

£

Amounts falling due within one year:

Trade debtors

2,030

1,745

Rent deposit

4,050

4,050

VEH Ltd current account

13,357

13,357

Payments received on account

4,671

6,441

Prepayments

28,573

8,254

52,681

33,847

Amounts falling due after more than one year:

VEM Ltd current account

317,208

317,208

Aggregate amounts

369,889

351,055

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

31.12.19

£

£

Bank loans and overdrafts

838

-

Trade creditors

10,747

11,109

Tax

20,954

17,594

Social security and other taxes

8,075

8,819

Pension control

1,468

1,741

Wages control

48,589

-

SRP Ltd current account

98

-

Accrued expenses

26,033

401,203

116,802

440,466

7.	RELATED PARTY DISCLOSURES

The company's entire share capital is held by Vital Europe Holdings Ltd a company that is registered in Malta.

The company is under the control of Vital Europe Holdings Ltd.