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REGISTERED NUMBER: 12581711 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MAY 2023

FOR

V1CE LIMITED

V1CE LIMITED (REGISTERED NUMBER: 12581711)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MAY 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


V1CE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MAY 2023







DIRECTORS: C O O Falodun
M D Davies
I McDonald
F O Falodun



REGISTERED OFFICE: 38a-42a Ormskirk Road
Preston
PR1 2QP



REGISTERED NUMBER: 12581711 (England and Wales)



ACCOUNTANTS: Ryans
Chartered Accountants
67 Chorley Old Road
Bolton
BL1 3AJ



BANKERS: HSBC Bank plc
2-4 St Ann's Street
Manchester
M2 7HD

V1CE LIMITED (REGISTERED NUMBER: 12581711)

ABRIDGED BALANCE SHEET
31ST MAY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 51,334 -
Tangible assets 5 104,701 123,740
156,035 123,740

CURRENT ASSETS
Stocks 233,548 188,000
Debtors 183,263 135,708
Cash at bank 25,449 169,987
442,260 493,695
CREDITORS
Amounts falling due within one year 385,252 164,782
NET CURRENT ASSETS 57,008 328,913
TOTAL ASSETS LESS CURRENT
LIABILITIES

213,043

452,653

PROVISIONS FOR LIABILITIES 28,243 -
NET ASSETS 184,800 452,653

CAPITAL AND RESERVES
Called up share capital 6 84 84
Retained earnings 184,716 452,569
SHAREHOLDERS' FUNDS 184,800 452,653

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 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.

V1CE LIMITED (REGISTERED NUMBER: 12581711)

ABRIDGED BALANCE SHEET - continued
31ST MAY 2023


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31st May 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 20th October 2023 and were signed on its behalf by:





C O O Falodun - Director


V1CE LIMITED (REGISTERED NUMBER: 12581711)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MAY 2023

1. STATUTORY INFORMATION

V1ce 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of ten years.

Depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on cost
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

V1CE LIMITED (REGISTERED NUMBER: 12581711)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MAY 2023

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2022 - 24 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
Additions 52,606
At 31st May 2023 52,606
AMORTISATION
Amortisation for year 1,272
At 31st May 2023 1,272
NET BOOK VALUE

At 31st May 2023 51,334

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st June 2022 156,463
Additions 24,834
At 31st May 2023 181,297
DEPRECIATION
At 1st June 2022 32,723
Charge for year 43,873
At 31st May 2023 76,596
NET BOOK VALUE
At 31st May 2023 104,701
At 31st May 2022 123,740

V1CE LIMITED (REGISTERED NUMBER: 12581711)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MAY 2023

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
40 A Ordinary £1 40 40
40 B Ordinary £1 40 40
4 C Ordinary £1 4 4
84 84

7. ULTIMATE CONTROLLING PARTY

In the opinion of the directors, there is no one party with ultimate control.