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REGISTERED NUMBER: 11796363 (England and Wales)















Unaudited Financial Statements for the Year Ended 28 February 2023

for

Vogel Inns Limited

Vogel Inns Limited (Registered number: 11796363)

Contents of the Financial Statements
for the Year Ended 28 February 2023










Page

Balance Sheet 1

Notes to the Financial Statements 3


Vogel Inns Limited (Registered number: 11796363)

Balance Sheet
28 February 2023

28.2.23 28.2.22
Notes £ £
Fixed assets
Tangible assets 5 27,057 30,490

Current assets
Stocks 30,224 27,019
Debtors 6 22,689 22,097
Cash at bank and in hand 35,563 88,084
88,476 137,200
Creditors
Amounts falling due within one year 7 (60,084 ) (75,924 )
Net current assets 28,392 61,276
Total assets less current liabilities 55,449 91,766

Creditors
Amounts falling due after more than one
year

8

(42,058

)

(59,954

)

Provisions for liabilities (5,141 ) (5,793 )
Net assets 8,250 26,019

Capital and reserves
Called up share capital 100 100
Retained earnings 8,150 25,919
8,250 26,019

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Vogel Inns Limited (Registered number: 11796363)

Balance Sheet - continued
28 February 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 31 October 2023 and were signed by:





Mr S D Bird - Director


Vogel Inns Limited (Registered number: 11796363)

Notes to the Financial Statements
for the Year Ended 28 February 2023


1. Statutory information

Vogel Inns Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 11796363

Registered office: 22-26 King Street
King's Lynn
Norfolk
PE30 1HJ

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


2. Statement of compliance

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.

3. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

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.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

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

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Vogel Inns Limited (Registered number: 11796363)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023


3. Accounting policies - continued

Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.

Government grants are recognised using the accrual model.

Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.

Stocks
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.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

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. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Vogel Inns Limited (Registered number: 11796363)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023


3. Accounting policies - continued

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.

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.

Assets held under finance leases and hire purchase contracts are recognised in the balance sheet as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.

Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

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.

4. Employees and directors

The average number of employees during the year was 28 (2022 - 21 ) .

Vogel Inns Limited (Registered number: 11796363)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023


5. Tangible fixed assets
Fixtures
and Computer
fittings equipment Totals
£ £ £
Cost
At 1 March 2022 37,780 3,245 41,025
Additions 1,108 464 1,572
At 28 February 2023 38,888 3,709 42,597
Depreciation
At 1 March 2022 9,744 791 10,535
Charge for year 4,314 691 5,005
At 28 February 2023 14,058 1,482 15,540
Net book value
At 28 February 2023 24,830 2,227 27,057
At 28 February 2022 28,036 2,454 30,490

6. Debtors: amounts falling due within one year
28.2.23 28.2.22
£ £
Trade debtors 2,940 -
Other debtors 19,749 22,097
22,689 22,097

7. Creditors: amounts falling due within one year
28.2.23 28.2.22
£ £
Bank loans and overdrafts 5,674 5,556
Trade creditors 9,746 23,167
Taxation and social security 12,620 21,787
Other creditors 32,044 25,414
60,084 75,924

8. Creditors: amounts falling due after more than one year
28.2.23 28.2.22
£ £
Bank loans 35,464 40,278
Other creditors 6,594 19,676
42,058 59,954

Vogel Inns Limited (Registered number: 11796363)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023


8. Creditors: amounts falling due after more than one year - continued
28.2.23 28.2.22
£ £
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 12,767 18,056

The amount of installments due for repayment after five years totals £12,767.

9. Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:
28.2.23 28.2.22
£ £
Within one year 54,022 54,022
Between one and five years - 54,022
54,022 108,044

10. Related party disclosures

During the period there were net transactions with the directors of £3,835 (2022: £8,216). As at the balance sheet date £12,051 (2022: £8,216) was owed to the directors by the company.

No further transactions are required to be disclosed under FRS 102 Section 1A.