VIN-X Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02402428 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2020

FOR

VIN-X LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

P. R. Shakeshaft

A S Healey

REGISTERED OFFICE:

4-10 Barttelot Road

Horsham

West Sussex

RH12 1DQ

REGISTERED NUMBER:

02402428 (England and Wales)

ACCOUNTANTS:

D A CLARK & CO. LTD.

Bailey House

4-10 Barttelot Road

Horsham

West Sussex

RH12 1DQ

FIXED ASSETS

Tangible assets

3

983

1,151

CURRENT ASSETS

Stocks

4

437,515

313,991

Debtors

5

551,295

817,678

Cash at bank and in hand

231,841

169,445

1,220,651

1,301,114

CREDITORS

Amounts falling due within one year

6

1,120,622

1,210,383

NET CURRENT ASSETS

100,029

90,731

TOTAL ASSETS LESS CURRENT LIABILITIES

101,012

91,882

CAPITAL AND RESERVES

Called up share capital

150,015

150,015

Other reserves

(81,232

)

(81,232

)

Retained earnings

32,229

23,099

SHAREHOLDERS' FUNDS

101,012

91,882

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 17 December 2020 and were signed on its behalf by:

P. R. Shakeshaft - Director

1.	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.

Plant and machinery

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2019 - 13 ) .

3.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 April 2019

and 31 March 2020

13,000

DEPRECIATION

At 1 April 2019

11,849

Charge for year

168

At 31 March 2020

12,017

NET BOOK VALUE

At 31 March 2020

983

At 31 March 2019

1,151

4.

STOCKS

31.3.20

31.3.19

£

£

Finished goods

437,515

313,991

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Trade debtors

428,323

714,479

Other debtors

78,031

83,862

VAT

5,581

12,954

Prepayments

39,360

6,383

551,295

817,678

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Bank loans and overdrafts

-

9,325

Payments on account

262,734

499,342

Trade creditors

786,287

465,806

Tax

9,658

20,662

Social security and other taxes

7,158

-

Pensions

1,015

773

Other creditors

36,033

173,345

Directors' current accounts

12,737

20,780

Accrued expenses

5,000

20,350

1,120,622

1,210,383

7.	ULTIMATE CONTROLLING PARTY

The controlling party is P. R. Shakeshaft.