VIN-X Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 02402428 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2023

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

2,408

-

CURRENT ASSETS

Stocks

4

474,593

559,526

Debtors

5

906,584

733,437

Cash at bank and in hand

71,345

77,066

1,452,522

1,370,029

CREDITORS

Amounts falling due within one year

6

1,317,377

1,230,257

NET CURRENT ASSETS

135,145

139,772

TOTAL ASSETS LESS CURRENT LIABILITIES

137,553

139,772

CREDITORS

Amounts falling due after more than one year

7

21,667

31,667

NET ASSETS

115,886

108,105

CAPITAL AND RESERVES

Called up share capital

150,015

150,015

Other reserves

(81,232

)

(81,232

)

Retained earnings

47,103

39,322

SHAREHOLDERS' FUNDS

115,886

108,105

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 1 December 2023 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.

Computer equipment

-

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 16 (2022 - 12 ) .

3.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

Additions

2,700

At 31 March 2023

2,700

DEPRECIATION

Charge for year

292

At 31 March 2023

292

NET BOOK VALUE

At 31 March 2023

2,408

4.

STOCKS

31.3.23

31.3.22

£

£

Finished goods

474,593

559,526

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Trade debtors

710,939

538,187

Other debtors

144,338

108,602

Directors' current accounts

-

41,852

Prepayments

51,307

44,796

906,584

733,437

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Bank loans and overdrafts

10,000

10,000

Trade creditors

702,651

937,066

Tax

13,650

4,113

Social security and other taxes

33,711

16,112

Pensions

3,175

1,476

VAT

3,777

5,743

Other creditors

122,490

123,154

Directors' current accounts

3,147

-

Accrued expenses

424,776

132,593

1,317,377

1,230,257

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.23

31.3.22

£

£

Bank loans - 1-2 years

10,000

10,000

Bank loans - 2-5 years

11,667

21,667

21,667

31,667

8.	ULTIMATE CONTROLLING PARTY

The controlling party is P. R. Shakeshaft.