Caseware UK (AP4) 2022.0.179 2022.0.179 4trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-01-014falseNo description of principal activitytrue 11134118 2022-01-01 2022-12-31 11134118 1 2022-01-01 2022-12-31 11134118 2021-01-01 2021-12-31 11134118 2022-12-31 11134118 2021-12-31 11134118 d:Director2 2022-01-01 2022-12-31 11134118 c:ComputerSoftware 2022-12-31 11134118 c:ComputerSoftware 2021-12-31 11134118 c:CurrentFinancialInstruments 2022-12-31 11134118 c:CurrentFinancialInstruments 2021-12-31 11134118 c:CurrentFinancialInstruments c:WithinOneYear 2022-12-31 11134118 c:CurrentFinancialInstruments c:WithinOneYear 2021-12-31 11134118 c:ShareCapital 2022-12-31 11134118 c:ShareCapital 2021-12-31 11134118 c:RetainedEarningsAccumulatedLosses 2022-12-31 11134118 c:RetainedEarningsAccumulatedLosses 2021-12-31 11134118 d:FRS102 2022-01-01 2022-12-31 11134118 d:AuditExempt-NoAccountantsReport 2022-01-01 2022-12-31 11134118 d:FullAccounts 2022-01-01 2022-12-31 11134118 d:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 11134118 c:ComputerSoftware c:OwnedIntangibleAssets 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure


















Vinous UK Limited























Unaudited

Financial statements



For the year ended 31 December 2022



Registered number: 11134118

 
Vinous UK Limited - Registered number: 11134118

Statement of financial position
As at 31 December 2022

2022
2022
2021
2021
Note
£
£
£
£

Fixed assets
  

Intangible assets
 4 
31,559
36,067

  
31,559
36,067

Current assets
  

Cash at bank and in hand
  
27,127
23,545

  
27,127
23,545

Creditors: amounts falling due within one year
 5 
(953,860)
(673,494)

Net current liabilities
  
 
 
(926,733)
 
 
(649,949)

Total assets less current liabilities
  
(895,174)
(613,882)

  

Net liabilities
  
(895,174)
(613,882)


Capital and reserves
  

Share capital
  
1,000
1,000

Profit and loss account
  
(896,174)
(614,882)

  
(895,174)
(613,882)


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.
Page 1

 
Vinous UK Limited - Registered number: 11134118

Statement of financial position (continued)
As at 31 December 2022


The company has opted not to file the profit and loss account 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: 




J Forsyth
Director

Date: 27 October 2023

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
Vinous UK Limited

 
Notes to the financial statements
For the year ended 31 December 2022

1.


General information

Vinous UK Limited is a private company limited by shares and is registered in England and Wales. The company's registered office is 130 Wood Street, London, EC2V 6DL and the registered number is 11134118.
The company is a wholly owned subsidiary of Vinous Media LLC, a company incorporated in the United States of America.

2.Accounting policies

 
2.1

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 Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

At the balance sheet date, the company's liabilities exceeded its assets. The company has received assurance
from the parent company, Vinous Media LLC, that it will continue to give financial support to the company
for a period of at least twelve months from the date of signing these financial statements and defer
repayment of its loan in favour of other creditors.
On this basis, the directors consider it appropriate to prepare the financial statements on a going concern
basis. However, should the financial support mentioned above not be forthcoming, the going concern basis
used in preparing the company's financial statements may be invalid and adjustments would have to be
made to reduce the value of assets to their realisable amount and to provide for any further liabilities which
might arise. The financial statements do not include any adjustment to the company's assets or liabilities that
might be necessary should this basis not continue to be appropriate.

 
2.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
Vinous UK Limited

Notes to the financial statements
For the year ended 31 December 2022

2.Accounting policies (continued)

 
2.4

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

 
2.5

Finance costs

Finance costs are charged to the profit and loss account 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.

 
2.6

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.7

Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.8

Creditors

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

 
2.9

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 and loans to related parties.

Page 4

 
Vinous UK Limited

 
Notes to the financial statements
For the year ended 31 December 2022

3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2021 - 4).


4.


Intangible assets




Computer software

£



Cost


At 1 January 2022
45,083



At 31 December 2022

45,083



Amortisation


At 1 January 2022
9,016


Charge for the year on owned assets
4,508



At 31 December 2022

13,524



Net book value



At 31 December 2022
31,559



At 31 December 2021
36,067




5.


Creditors: Amounts falling due within one year

2022
2021
£
£

Trade creditors
4,920
-

Amounts owed to group undertakings
942,118
664,251

Accruals and deferred income
6,822
9,243

953,860
673,494


Page 5

 
Vinous UK Limited

 
Notes to the financial statements
For the year ended 31 December 2022

6.


Controlling party

The smallest group of undertakings for which group accounts have been drawn up which include the company is headed by Vinous Media LLC, a company registered in New York, USA.


7.


Related party transactions

The company has taken advantage of the exemption available in Section 33.1A of FRS 102 whereby it has not
disclosed transactions with the immediate parent company or any wholly owned subsidiary undertakings of the
group headed by Vinous Media LLC.


Page 6