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 2021

FOR

VIN-X LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P. R. Shakeshaft

Mrs J. C. Shakeshaft

REGISTERED OFFICE:

First Floor

Ridgeland House

15 Carfax

Horsham

West Sussex

RH12 1DY

REGISTERED NUMBER:

02402428 (England and Wales)

ACCOUNTANTS:

Galloways Accounting

First Floor

Ridgeland House

15 Carfax

Horsham

West Sussex

RH12 1DY

FIXED ASSETS

Tangible assets

3

-

983

CURRENT ASSETS

Stocks

4

195,041

437,515

Debtors

5

724,446

551,295

Cash at bank and in hand

62,616

231,841

982,103

1,220,651

CREDITORS

Amounts falling due within one year

6

822,397

1,120,622

NET CURRENT ASSETS

159,706

100,029

TOTAL ASSETS LESS CURRENT LIABILITIES

159,706

101,012

CREDITORS

Amounts falling due after more than one year

7

41,667

-

NET ASSETS

118,039

101,012

CAPITAL AND RESERVES

Called up share capital

150,015

150,015

Other reserves

(81,232

)

(81,232

)

Retained earnings

49,256

32,229

SHAREHOLDERS' FUNDS

118,039

101,012

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 20 December 2021 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 12 (2020 - 14 ) .

3.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 April 2020

13,000

Disposals

(13,000

)

At 31 March 2021

-

DEPRECIATION

At 1 April 2020

12,017

Eliminated on disposal

(12,017

)

At 31 March 2021

-

NET BOOK VALUE

At 31 March 2021

-

At 31 March 2020

983

4.

STOCKS

31.3.21

31.3.20

£

£

Finished goods

195,041

437,515

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Trade debtors

586,475

428,323

Other debtors

91,981

78,031

VAT

3,176

5,581

Prepayments

42,814

39,360

724,446

551,295

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Bank loans and overdrafts

8,333

-

Payments on account

-

262,734

Trade creditors

686,030

786,287

Tax

6,019

9,658

Social security and other taxes

25,772

7,158

Pensions

849

1,015

Other creditors

75,777

36,033

Directors' current accounts

5,217

12,737

Accrued expenses

14,400

5,000

822,397

1,120,622

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.21

31.3.20

£

£

Bank loans - 1-2 years

8,333

-

Bank loans - 2-5 years

33,334

-

41,667

-

8.	ULTIMATE CONTROLLING PARTY

The controlling party is P. R. Shakeshaft.