Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-302023-03-302No description of principal activityfalsetrue2022-03-312trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 09917487 2022-03-31 2023-03-30 09917487 2021-03-31 2022-03-30 09917487 2023-03-30 09917487 2022-03-30 09917487 c:Director1 2022-03-31 2023-03-30 09917487 d:FreeholdInvestmentProperty 2023-03-30 09917487 d:FreeholdInvestmentProperty 2022-03-30 09917487 d:FreeholdInvestmentProperty 2 2022-03-31 2023-03-30 09917487 d:CurrentFinancialInstruments 2023-03-30 09917487 d:CurrentFinancialInstruments 2022-03-30 09917487 d:Non-currentFinancialInstruments 2023-03-30 09917487 d:Non-currentFinancialInstruments 2022-03-30 09917487 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-30 09917487 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-30 09917487 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-30 09917487 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-30 09917487 d:ShareCapital 2023-03-30 09917487 d:ShareCapital 2022-03-30 09917487 d:SharePremium 2023-03-30 09917487 d:SharePremium 2022-03-30 09917487 d:RetainedEarningsAccumulatedLosses 2023-03-30 09917487 d:RetainedEarningsAccumulatedLosses 2022-03-30 09917487 c:FRS102 2022-03-31 2023-03-30 09917487 c:AuditExempt-NoAccountantsReport 2022-03-31 2023-03-30 09917487 c:FullAccounts 2022-03-31 2023-03-30 09917487 c:PrivateLimitedCompanyLtd 2022-03-31 2023-03-30 iso4217:GBP xbrli:pure

Registered number: 09917487










THE VINCENT GROUP LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 MARCH 2023

 
THE VINCENT GROUP LTD
REGISTERED NUMBER: 09917487

BALANCE SHEET
AS AT 30 MARCH 2023

2023
2023
2022
2022
Note
£
£
£
£

Fixed assets
  

Investment property
 4 
3,170,000
3,185,000

Current assets
  

Debtors
 5 
-
366

Cash at bank and in hand
 6 
17,616
22,711

  
17,616
23,077

Creditors: amounts falling due within one year
 7 
(919,444)
(734,827)

Net current liabilities
  
 
 
(901,828)
 
 
(711,750)

Total assets less current liabilities
  
2,268,172
2,473,250

Creditors: amounts falling due after more than one year
 8 
(1,173,733)
(1,365,175)

Provisions for liabilities
  

Deferred tax
  
(150,730)
(153,640)

Net assets
  
943,709
954,435


Capital and reserves
  

Called up share capital, allotted and fully paid
  
200
200

Share premium account
  
312,700
312,700

Profit and loss account
  
630,809
641,535

  
943,709
954,435


Page 1

 
THE VINCENT GROUP LTD
REGISTERED NUMBER: 09917487
    
BALANCE SHEET (CONTINUED)
AS AT 30 MARCH 2023

The Directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Peter Vincent
Director

Date: 31 August 2023

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
THE VINCENT GROUP LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2023

1.Accounting policies

 
1.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
1.2

Revenue recognition

Turnover comprises rental income receivable during the period in respect of the Company's freehold investment properties.

 
1.3

Investment property

Investment property is carried at fair value determined by the Directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided.  Changes in fair value are recognised in the Statement of Income and Retained Earnings.

 
1.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
1.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
1.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
THE VINCENT GROUP LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2023

1.Accounting policies (continued)

 
1.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
1.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
1.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
1.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
THE VINCENT GROUP LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2023

1.Accounting policies (continued)

 
1.11

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance Sheet.

 
1.12

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Page 5

 
THE VINCENT GROUP LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2023

2.


General information

The Vincent Group Limited is a private limited company, incorporated in England and Wales. 
The registered office address is Moorgate House, 201 Silbury Boulevard, Milton Keynes, MK9 1LZ.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).


4.


Investment property


Freehold investment property

£



Valuation


At 31 March 2022
3,185,000


Surplus on revaluation
(15,000)



At 30 March 2023
3,170,000

The 2023 valuations were made by the Directors, on an open market value for existing use basis.



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2023
2022
£
£


Historic cost
2,346,823
2,346,823


5.


Debtors

2023
2022
£
£


Trade debtors
-
366



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
17,616
22,711


Page 6

 
THE VINCENT GROUP LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
-
16,648

Corporation tax
1,032
712

Other creditors
912,317
713,222

Accruals and deferred income
6,095
4,245

919,444
734,827


The bank loans are secured by a legal charge over the investment properties held by the Company.


8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
1,173,733
1,365,175


The bank loans are secured by a legal charge over the investment properties held by the Company.


9.


Related party transactions

At the year end there was balance owing to a Director of £896,322 (2022: £697,659) which is included in other creditors.  No interest has been charged on this balance and there is no set repayment date.

 
Page 7