V.C. Vintners Limited - Accounts to registrar (filleted) - small 23.2.5
V.C. Vintners Limited - Accounts to registrar (filleted) - small 23.2.5
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 March 2023 |
| for |
| V.C. Vintners Limited |
| V.C. Vintners Limited (Registered number: 04128260) |
| Contents of the Financial Statements |
| for the Year Ended 31 March 2023 |
| Page |
| Balance Sheet | 1 |
| Notes to the Financial Statements | 3 |
| V.C. Vintners Limited (Registered number: 04128260) |
| Balance Sheet |
| 31 March 2023 |
| 2023 | 2022 |
| Notes | £ | £ |
| Fixed assets |
| Tangible assets | 5 |
| Current assets |
| Stocks | 6 |
| Debtors | 7 |
| Cash at bank |
| Creditors |
| Amounts falling due within one year | 8 | ( |
) | ( |
) |
| Net current assets |
| Total assets less current liabilities |
| Creditors |
| Amounts falling due after more than one year |
9 |
( |
) |
| Provisions for liabilities | 11 | ( |
) | ( |
) |
| Net assets |
| Capital and reserves |
| Called up share capital |
| Capital redemption reserve |
| Retained earnings |
| 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. |
| V.C. Vintners Limited (Registered number: 04128260) |
| Balance Sheet - continued |
| 31 March 2023 |
| In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| V.C. Vintners Limited (Registered number: 04128260) |
| Notes to the Financial Statements |
| for the Year Ended 31 March 2023 |
| 1. | Statutory information |
| V.C. Vintners Limited is a |
| Registered number: |
| Registered office: |
| 2. | Statement of compliance |
| 3. | Accounting policies |
| Basis of preparing the financial statements |
| Critical accounting judgements and key sources of estimation uncertainty |
| The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. |
| 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 |
| Tangible fixed assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. |
| Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows: |
| Freehold Property - 2% straight line |
| Plant and Machinery - 20% reducing balance |
| Fixtures and Fittings - 20% reducing balance |
| Motor Vehicles - 25% straight line |
| Computer Equipment - 33% straight line |
| Land is not depreciated. |
| V.C. Vintners Limited (Registered number: 04128260) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2023 |
| 3. | Accounting policies - continued |
| Inventory |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| Financial instruments |
| A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. |
| Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. |
| Debt instruments are subsequently measured at amortised cost. |
| Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. |
| Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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. |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
| V.C. Vintners Limited (Registered number: 04128260) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2023 |
| 3. | Accounting policies - continued |
| 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. |
| Impairment of fixed assets |
| A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impairment accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. |
| 4. | Employees and directors |
| The average number of employees during the year was |
| 5. | Tangible fixed assets |
| Fixtures |
| Freehold | Plant and | and |
| property | machinery | fittings |
| £ | £ | £ |
| Cost |
| At 1 April 2022 |
| Additions |
| Disposals |
| At 31 March 2023 |
| Depreciation |
| At 1 April 2022 |
| Charge for year |
| Eliminated on disposal |
| At 31 March 2023 |
| Net book value |
| At 31 March 2023 |
| At 31 March 2022 |
| V.C. Vintners Limited (Registered number: 04128260) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2023 |
| 5. | Tangible fixed assets - continued |
| Motor | Computer |
| vehicles | equipment | Totals |
| £ | £ | £ |
| Cost |
| At 1 April 2022 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 March 2023 |
| Depreciation |
| At 1 April 2022 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 March 2023 |
| Net book value |
| At 31 March 2023 |
| At 31 March 2022 |
| 6. | Stocks |
| 2023 | 2022 |
| £ | £ |
| Stocks |
| 7. | Debtors: amounts falling due within one year |
| 2023 | 2022 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 8. | Creditors: amounts falling due within one year |
| 2023 | 2022 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| V.C. Vintners Limited (Registered number: 04128260) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2023 |
| 9. | Creditors: amounts falling due after more than one year |
| 2023 | 2022 |
| £ | £ |
| Bank loans |
| Hire purchase contracts |
| 10. | Secured debts |
| The following secured debts are included within creditors: |
| 2023 | 2022 |
| £ | £ |
| Hire purchase contracts | - | 6,468 |
| The above are secured against the assets to which they relate. |
| 11. | Provisions for liabilities |
| 2023 | 2022 |
| £ | £ |
| Deferred tax | 13,997 | 7,633 |
| Deferred tax |
| £ |
| Balance at 1 April 2022 |
| Charge to Statement of Income and Retained Earnings during year |
| Balance at 31 March 2023 |