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

REGISTERED NUMBER: 08578935 (England and Wales)

Financial Statements for the Year Ended 30 June 2019

for

Vapoursrus Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Director:

L Martin

Registered office:

Harvard Street

Rochdale

OL11 2HA

Registered number:

08578935 (England and Wales)

Accountant:

CWP Chartered Certified Accountants

Unit 1A

85 Greengate

Manchester

M3 7NA

Fixed assets

Tangible assets

4

12,815

16,571

Current assets

Stocks

7,588

22,000

Debtors

5

745,536

730,021

Cash at bank and in hand

142,661

59,738

895,785

811,759

Creditors

Amounts falling due within one year

6

372,711

387,338

Net current assets

523,074

424,421

Total assets less current liabilities

535,889

440,992

Capital and reserves

Called up share capital

1

1

Retained earnings

7

535,888

440,991

Shareholders' funds

535,889

440,992

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 26 June 2020 and were signed by:

L Martin - Director

1.	Statutory information

Vapoursrus 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

Turnover 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.

Land and buildings

-

15% on reducing balance

Plant and machinery etc

-

25% on reducing balance and not provided

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.

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 8 (2018 - 8 ) .

4.	Tangible fixed assets

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

Cost

At 1 July 2018

and 30 June 2019

9,275

26,662

35,937

Depreciation

At 1 July 2018

4,433

14,933

19,366

Charge for year

726

3,030

3,756

At 30 June 2019

5,159

17,963

23,122

Net book value

At 30 June 2019

4,116

8,699

12,815

At 30 June 2018

4,842

11,729

16,571

5.

Debtors: amounts falling due within one year

30.6.19

30.6.18

£

£

Other debtors

745,536

730,021

6.

Creditors: amounts falling due within one year

30.6.19

30.6.18

£

£

Taxation and social security

367,504

382,131

Other creditors

5,207

5,207

372,711

387,338

7.

Reserves

Retained

earnings

£

At 1 July 2018

440,991

Profit for the year

115,900

Dividends

(21,003

)

At 30 June 2019

535,888

8.	Directors loan account

At the start of the year, the director loan balance was £439,055 in debit and previously section s455 tax was charged of

£91,452. Throughout the financial period there was a net increase of £10,976 that was essentially 2.5% interest charged on

the full overdrawn director loan balance. This has increased the director loan debit balance to £450,031 payable back to the

company.