Vincent & Bamforth Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04948096 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 October 2021

for

Vincent & Bamforth Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D Bamforth

Mrs A Bamforth

D K Vincent

Mrs S Vincent

SECRETARY:

D K Vincent

REGISTERED OFFICE:

10 Badminton Road

Downend

Bristol

BS16 6BQ

REGISTERED NUMBER:

04948096 (England and Wales)

ACCOUNTANTS:

Equifino Ltd

Kemp House

160 City Road

London

EC1V 2NX

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

162,288

2,987

Investments

6

449,144

388,987

611,432

391,974

CURRENT ASSETS

Debtors

7

59,648

66,372

Cash at bank and in hand

40,972

130,371

100,620

196,743

CREDITORS

Amounts falling due within one year

8

98,577

79,178

NET CURRENT ASSETS

2,043

117,565

TOTAL ASSETS LESS CURRENT LIABILITIES

613,475

509,539

CREDITORS

Amounts falling due after more than one year

9

-

(45,993

)

PROVISIONS FOR LIABILITIES

11

(47,216

)

(30,991

)

NET ASSETS

566,259

432,555

CAPITAL AND RESERVES

Called up share capital

12

10

10

Fair value reserve

13

200,938

120,389

Retained earnings

365,311

312,156

SHAREHOLDERS' FUNDS

566,259

432,555

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 July 2022 and were signed on its behalf by:

D Bamforth - Director

1.	STATUTORY INFORMATION

Vincent & Bamforth Limited 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 company's principal activities and nature of its operations are that of an estate agent.

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 as modified by the revaluation of certain assets.

Going concern

The financial statements have been prepared on a going concern basis. The directors have a reasonable expectation that despite the adverse effects COVID-19 is having on both the company and the economy as a whole the company has adequate resources to continue in operational existence for the foreseeable future. On this basis, the directors have concluded that they can continue to adopt the going concern basis in preparing the financial statements.

Turnover

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

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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

-

33% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are

recognised when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets, which include trade and other debtors, amounts due from group undertakings and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost. Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Basic financial liabilities, including trade and other creditors and amounts due to group undertakings are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the

debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Financial liabilities are derecognised when, and only when, the company's contractual obligations are discharged, cancelled, or they expire.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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.

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 9 (2020 - 9 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 November 2020

and 31 October 2021

55,000

AMORTISATION

At 1 November 2020

and 31 October 2021

55,000

NET BOOK VALUE

At 31 October 2021

-

At 31 October 2020

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

property

machinery

fittings

Totals

£

£

£

£

COST

At 1 November 2020

-

14,960

36,075

51,035

Additions

157,374

2,403

1,711

161,488

At 31 October 2021

157,374

17,363

37,786

212,523

DEPRECIATION

At 1 November 2020

-

13,143

34,905

48,048

Charge for year

-

1,467

720

2,187

At 31 October 2021

-

14,610

35,625

50,235

NET BOOK VALUE

At 31 October 2021

157,374

2,753

2,161

162,288

At 31 October 2020

-

1,817

1,170

2,987

6.	FIXED ASSET INVESTMENTS

Other

investment

£

COST OR VALUATION

At 1 November 2020

388,987

Disposals

(20,392

)

Revaluations

80,549

At 31 October 2021

449,144

NET BOOK VALUE

At 31 October 2021

449,144

At 31 October 2020

388,987

Cost or valuation at 31 October 2021 is represented by:

Other

investment

£

Valuation in 2021

80,549

Valuation in 2020

(22,756

)

Valuation in 2019

25,887

Valuation in 2018

82,766

Cost

282,698

449,144

If fixed asset investments had not been revalued they would have been included at the following historical cost:

31.10.21

31.10.20

£

£

Cost

282,698

282,698

Fixed assets investments were valued on an open market basis on 31 October 2021 by Quilter International .

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.21

31.10.20

£

£

Trade debtors

55,130

59,722

Other debtors

2,820

5,559

Directors' current accounts

562

-

Prepayments and accrued income

1,136

1,091

59,648

66,372

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.21

31.10.20

£

£

Bank loans and overdrafts

1,430

15,361

Trade creditors

1,150

7,500

Tax

32,600

16,288

VAT

27,806

27,375

Other creditors

30,137

158

Directors' current accounts

2,914

9,352

Accruals and deferred income

2,540

3,144

98,577

79,178

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.10.21

31.10.20

£

£

Bank loans - 2-5 years

-

39,929

Bank loans more 5 yr by instal

-

6,064

-

45,993

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

-

6,064

10.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.10.21

31.10.20

£

£

Within one year

12,924

13,727

Between one and five years

1,024

13,948

13,948

27,675

11.	PROVISIONS FOR LIABILITIES

31.10.21

31.10.20

£

£

Deferred tax

47,216

30,991

Deferred

tax

£

Balance at 1 November 2020

30,991

Provided during year

16,225

Balance at 31 October 2021

47,216

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.10.21

31.10.20

value:

£

£

10

Ordinary

£1

10

10

13.

RESERVES

Fair

value

reserve

£

At 1 November 2020

120,389

Fair value gains/losses

80,549

At 31 October 2021

200,938