Victoria Warehouse Group Limited Filleted accounts for Companies House (small and micro)

VICTORIA WAREHOUSE GROUP LTD - Company Information

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COMPANY REGISTRATION NUMBER: 10748245

Victoria Warehouse Group Limited

Filleted Unaudited Financial Statements

31 May 2019

Victoria Warehouse Group Limited

Financial Statements

Year ended 31 May 2019

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

Victoria Warehouse Group Limited

Statement of Financial Position

31 May 2019

	2019		2018
Note	£	£	£	£

Fixed assets

Investments	5		451		451

Current assets

Debtors	6	139,370	10,000
Cash at bank and in hand		23,468	–
		---------	--------
		162,838	10,000

Creditors: amounts falling due within one year	7	138,625		451
		---------		--------
Net current assets			24,213		9,549
			--------		--------
Total assets less current liabilities			24,664		10,000
			--------		--------
Net assets			24,664		10,000
			--------		--------

Capital and reserves

Called up share capital	10,000	10,000
Profit and loss account	14,664	–
	--------	--------
Shareholders funds	24,664	10,000
	--------	--------

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 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.

For the year ending 31 May 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have 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 his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Victoria Warehouse Group Limited

Statement of Financial Position (continued)

31 May 2019

These financial statements were approved by the board of directors and authorised for issue on 27 February 2020 , and are signed on behalf of the board by:

Mr J. Cohen
Director

Company registration number: 10748245

Victoria Warehouse Group Limited

Notes to the Financial Statements

Year ended 31 May 2019

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Trafford Wharf Road, Stretford, Manchester, M17 1AB, UK.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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.

Consolidation

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

Revenue recognition

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.

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Investments in associates

Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

Investments in joint ventures

Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.

Impairment of fixed assets

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. For the purposes of impairment testing, 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 largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 7 (2018: Nil).

5. Investments

	Shares in group undertakings
	£
Cost
At 1 June 2018 and 31 May 2019	451
	----
Impairment
At 1 June 2018 and 31 May 2019	–
	----

Carrying amount
At 31 May 2019	451
	----
At 31 May 2018	451
	----

6. Debtors

	2019	2018
	£	£
Trade debtors	59,868	–
Amounts owed by group undertakings and undertakings in which the company has a participating interest	69,502	–
Other debtors	10,000	10,000
	---------	--------
	139,370	10,000
	---------	--------

7. Creditors: amounts falling due within one year

	2019	2018
	£	£
Trade creditors	( 4,347)	–
Amounts owed to group undertakings and undertakings in which the company has a participating interest	120,864	–
Social security and other taxes	19,907	–
Other creditors	451	451
Other creditors	1,750	–
	---------	----
	138,625	451
	---------	----