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REGISTERED NUMBER: 01572474 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Vincent Estates Limited

Vincent Estates Limited (Registered number: 01572474)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Vincent Estates Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: M Vincent
H S Vincent





SECRETARY: H S Vincent





REGISTERED OFFICE: 3 Athenaeum Road
London
N20 9AA





REGISTERED NUMBER: 01572474 (England and Wales)





ACCOUNTANTS: GPMA
3 Athenaeum Road
London
N20 9AA

Vincent Estates Limited (Registered number: 01572474)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,775 4,465
Investments 5 3,216 3,216
Investment property 6 2,015,889 4,317,000
2,023,880 4,324,681

CURRENT ASSETS
Debtors 7 353,627 2,180,094
Cash at bank 1,428,298 100,229
1,781,925 2,280,323
CREDITORS
Amounts falling due within one year 8 356,098 2,648,031
NET CURRENT ASSETS/(LIABILITIES) 1,425,827 (367,708 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,449,707

3,956,973

CREDITORS
Amounts falling due after more than one
year

9

-

(37,800

)

PROVISIONS FOR LIABILITIES (319,806 ) (574,179 )
NET ASSETS 3,129,901 3,344,994

CAPITAL AND RESERVES
Called up share capital 150 150
Other reserves 959,419 2,447,818
Retained earnings 2,170,332 897,026
SHAREHOLDERS' FUNDS 3,129,901 3,344,994

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.

Vincent Estates Limited (Registered number: 01572474)

Balance Sheet - continued
31 March 2023


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 25 September 2023 and were signed on its behalf by:





M Vincent - Director


Vincent Estates Limited (Registered number: 01572474)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Vincent Estates 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.

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.

Turnover
Turnover represents rents receivable.


Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 3 (2022 - 4 ) .

Vincent Estates Limited (Registered number: 01572474)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022 41,045
Additions 1,929
At 31 March 2023 42,974
DEPRECIATION
At 1 April 2022 36,580
Charge for year 1,619
At 31 March 2023 38,199
NET BOOK VALUE
At 31 March 2023 4,775
At 31 March 2022 4,465

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 April 2022
and 31 March 2023 3,216
NET BOOK VALUE
At 31 March 2023 3,216
At 31 March 2022 3,216

Cost or valuation at 31 March 2023 is represented by:

Other
investments
£   
Valuation in 2018 2,622
Cost 594
3,216

Fixed asset investments were valued on an open market basis on 31 March 2023 by the company directors .

Vincent Estates Limited (Registered number: 01572474)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 4,317,000
Additions 7,715,889
Disposals (10,017,000 )
At 31 March 2023 2,015,889
NET BOOK VALUE
At 31 March 2023 2,015,889
At 31 March 2022 4,317,000

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2004 315,000
Valuation in 2018 755,000
Valuation in 2020 206,603
Cost 739,286
2,015,889

Investment property was valued on an open market basis on 31 March 2023 by the company directors .

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Other debtors 353,627 2,180,094

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts - 1,964,216
Taxation and social security 255,765 19,013
Other creditors 100,333 664,802
356,098 2,648,031

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loans - 37,800

Vincent Estates Limited (Registered number: 01572474)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

10. SECURED DEBTS

The following secured debts are included within creditors:

31.3.23 31.3.22
£    £   
Bank loans - 2,002,016

The bank loans and overdraft are secured by a fixed charge over the company's freehold property.

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2023 and 31 March 2022:

31.3.23 31.3.22
£    £   
H S Vincent
Balance outstanding at start of year - -
Amounts advanced 278,469 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 278,469 -

M Vincent
Balance outstanding at start of year - -
Amounts advanced 75,158 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 75,158 -

12. RELATED PARTY DISCLOSURES

Other debtors include £nil (2022 - £2,167,463) due from companies under common directorship and shareholding. The loans are provided interest-free and are repayable on demand.

Other creditors include £24,751 (2022 - £399,976) due to companies under common directorship and shareholding. The loans are provided interest-free and are repayable on demand.

13. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is M Vincent, the company's director.