Vincere Hospitality Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 09803165 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 July 2022

for

Vincere Hospitality Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A R Lidgard

A L Evans

R J Matthews

A C Smith

REGISTERED OFFICE:

The Brackenborough Hotel

Cordeaux Corner

Louth

Lincolnshire

LN11 0SZ

REGISTERED NUMBER:

09803165 (England and Wales)

FIXED ASSETS

Tangible assets

4

97,719

132,836

CURRENT ASSETS

Stocks

16,195

17,200

Debtors

5

100,394

84,235

Cash at bank and in hand

26,160

73,252

142,749

174,687

CREDITORS

Amounts falling due within one year

6

330,983

437,038

NET CURRENT LIABILITIES

(188,234

)

(262,351

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(90,515

)

(129,515

)

CREDITORS

Amounts falling due after more than one year

7

30,453

40,005

NET LIABILITIES

(120,968

)

(169,520

)

CAPITAL AND RESERVES

Called up share capital

8

1,070

1,070

Share premium

15,190

15,190

Retained earnings

(137,228

)

(185,780

)

SHAREHOLDERS' FUNDS

(120,968

)

(169,520

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2022 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 March 2023 and were signed on its behalf by:

A R Lidgard - Director

1.	STATUTORY INFORMATION

Vincere Hospitality 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 presentation currency of the financial statements is the Pound Sterling (£).

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.

Plant and machinery etc

-

20% on cost and 2% on cost

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.

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 18 (2021 - 23 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 August 2021

287,757

Additions

690

At 31 July 2022

288,447

DEPRECIATION

At 1 August 2021

154,921

Charge for year

35,807

At 31 July 2022

190,728

NET BOOK VALUE

At 31 July 2022

97,719

At 31 July 2021

132,836

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.22

31.7.21

£

£

Trade debtors

302

3,433

Other debtors

100,092

80,802

100,394

84,235

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.22

31.7.21

£

£

Bank loans and overdrafts

9,995

9,995

Trade creditors

162,819

164,018

Taxation and social security

522

34,364

Other creditors

157,647

228,661

330,983

437,038

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.7.22

31.7.21

£

£

Bank loans

30,453

40,005

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.7.22

31.7.21

value:

£

£

760

Ordinary

£1

760

760

310

"A" Ordinary

£1

310

310

1,070

1,070

9.	RELATED PARTY DISCLOSURES

At the year end, the related party balances were:

31.7.22

31.7.21

£

£

Net balance owed from/(to) related parties at the year end

39,459

(41,225)

Related party trade debtor balances

303

3,433

Related party trade creditor balances

135,660

138,958

Management charges from related parties

1,167

30,716

Sales and recharges made to related parties

392

3,032

Purchases made from related parties

3,742

46,258

Related parties are companies which Mr A Lidgard is also a director of.

10.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is A R Lidgard.