Go Vapour UK Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08486242 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2021

FOR

GO VAPOUR UK LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr N Morris

Mrs J Morris

REGISTERED OFFICE:

Kingsgate House

North Wing, Ground Floor

Newbury Road

Andover

Hampshire

SP10 4DU

REGISTERED NUMBER:

08486242 (England and Wales)

FIXED ASSETS

Tangible assets

5

2,982

4,539

CURRENT ASSETS

Stocks

28,804

33,501

Debtors

6

8,650

8,298

Cash at bank and in hand

56,170

42,810

93,624

84,609

CREDITORS

Amounts falling due within one year

7

45,479

69,188

NET CURRENT ASSETS

48,145

15,421

TOTAL ASSETS LESS CURRENT LIABILITIES

51,127

19,960

CREDITORS

Amounts falling due after more than one year

8

(47,500

)

-

PROVISIONS FOR LIABILITIES

(567

)

(862

)

NET ASSETS

3,060

19,098

CAPITAL AND RESERVES

Called up share capital

10

100

100

Retained earnings

2,960

18,998

SHAREHOLDERS' FUNDS

3,060

19,098

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 January 2022 and were signed on its behalf by:

Mr N Morris - Director

1.	STATUTORY INFORMATION

Go Vapour 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.

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

The company's principal place of business is 2 Newbury Street, Andover, Hampshire, SP10 1DN.

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.

In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.

Tangible fixed assets

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

Shop equipment

-

33% straight line

Computer equipment

-

33% straight line

All fixed assets are initially recorded at 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 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Operating lease agreements

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

Grants

Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2020 - 8 ) .

5.	TANGIBLE FIXED ASSETS

Shop

Computer

equipment

equipment

Totals

£

£

£

COST

At 1 May 2020

and 30 April 2021

48,965

7,850

56,815

DEPRECIATION

At 1 May 2020

45,346

6,930

52,276

Charge for year

1,003

554

1,557

At 30 April 2021

46,349

7,484

53,833

NET BOOK VALUE

At 30 April 2021

2,616

366

2,982

At 30 April 2020

3,619

920

4,539

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

19

-

Other debtors

8,631

8,298

8,650

8,298

Included in other debtors is £8,631 (2020 - £8,298) in relation to prepayments and accrued income.

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts (see note 9)

2,500

-

Trade creditors

1,783

304

Taxation and social security

16,034

24,006

Other creditors

25,162

44,878

45,479

69,188

Included in other creditors is £3,273 (2020 - £26,611) in relation to accruals and deferred income.

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loans (see note 9)

47,500

-

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

7,500

-

9.

LOANS

An analysis of the maturity of loans is given below:

2021

2020

£

£

Amounts falling due within one year or on demand:

Bank loans

2,500

-

Amounts falling due between one and two years:

Bank loans - 1-2 years

10,000

-

Amounts falling due between two and five years:

Bank loans - 2-5 years

30,000

-

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

7,500

-

A loan was taken out by the company in the year under the Bounce Back Loan Scheme. The first 12 months interest is paid by HM Government, and no repayments are required to be made by the company in the first 12 month period.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

£

£

100

Ordinary

£1

100

100

11.	OTHER FINANCIAL COMMITMENTS

Total future financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £80,000 (2020: £120,000)

This amount is in relation to operating lease commitments which are payable over the next 2 years (2020: over the next 3 years)