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REGISTERED NUMBER: 13436575 (England and Wales)















STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS FOR THE PERIOD 3 JUNE 2021 TO 30 JUNE 2022

FOR

VANILLA RETAIL GROUP LTD

VANILLA RETAIL GROUP LTD (REGISTERED NUMBER: 13436575)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 3 JUNE 2021 TO 30 JUNE 2022




Page

Company Information 1

Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 7

Income Statement 10

Other Comprehensive Income 11

Balance Sheet 12

Statement of Changes in Equity 13

Cash Flow Statement 14

Notes to the Cash Flow Statement 15

Notes to the Financial Statements 16


VANILLA RETAIL GROUP LTD

COMPANY INFORMATION
FOR THE PERIOD 3 JUNE 2021 TO 30 JUNE 2022







DIRECTORS: S S Chawla
Mrs R K Chawla
D S Chawla
A S Chawla





REGISTERED OFFICE: 191 - 193 Commercial Road
London
E1 2BT





REGISTERED NUMBER: 13436575 (England and Wales)





AUDITORS: Xeinadin Audit Ltd
Statutory Auditors
12 Conqueror Court
Sittingbourne
Kent
ME10 5BH

VANILLA RETAIL GROUP LTD (REGISTERED NUMBER: 13436575)

STRATEGIC REPORT
FOR THE PERIOD 3 JUNE 2021 TO 30 JUNE 2022

The directors present their strategic report for the period 3 June 2021 to 30 June 2022.

REVIEW OF BUSINESS
The results for the period and financial position of the company are as shown in the annexed financial statements.

The company achieved a turnover of £13,858,408 and a gross profit margin of 37.92% on their first period of trading despite being in a challenging current economic climate. The market conditions are expected to continue to be very competitive but due to an upturn in the economy turnover has increased significantly in 2023.

The directors are continuously monitoring the potential risks and uncertainty to the business in order to take the necessary mitigating steps to maintain the company's competitive edge.

PRINCIPAL RISKS AND UNCERTAINTIES
There are a number of risks and uncertainties which could impact the performance of the company. The company
operates robust risk management processes which identify risks and uncertainties and evaluates mitigation
opportunities and solutions.

The management follow a continuous review of the performance of the company through monthly senior
management meetings. Action plans are developed and reviewed on an ongoing basis. The key risks are
principally the competitiveness of the UK market. Sales opportunities are continually evaluated to
the current market and economic climate

SECTION 172(1) STATEMENT
Section 172 of the Companies Act 2006 requires a director of a company to act in the way he or she considers, in good faith, would be most likely to promote the success of the company for the benefit of its members as a whole.

In doing this, section 172 requires a director to have regards, amongst other matters, to the:

- likely consequences of any decisions in the long term

- interests of the company's employees

- need to foster the company's business relationships with suppliers, customers and others

- impact of the company's operations on the community and environment

- desirability of the company maintaining a reputation for high standards of business conduct; and

- need to act fairly as between members of the company.

The directors confirm that in discharging their duties under section 172, they have had regard to the factors set out above. The company delegates authority for day to day management to key personnel who are responsible for setting, approving and overseeing the execution of the business strategy and related policies.

The company delegates to key management to review the Company's financial and operational performance, risk and compliance, and health and safety matters.

Customer service is a key area of focus for the company and the company is committed to maintaining and improving its online customer satisfaction survey rating. Customer satisfaction is maintained through training and development of the company's employees, offering a comprehensive range of stock, and a hassle free purchase experience.

Managing good relationships with suppliers is key to facilitating the offering of a wide range of high quality stock. The company engages with its suppliers to ensure that they are consulted and informed.

The company also has regard to the local community in all of its activities and acknowledges its role as a major employer in the local area.


VANILLA RETAIL GROUP LTD (REGISTERED NUMBER: 13436575)

STRATEGIC REPORT
FOR THE PERIOD 3 JUNE 2021 TO 30 JUNE 2022

KEY PERFORMANCE INDICATORS
The management team analyse various key performance indicators as part of their overall strategic review but
have identified the following as being particularly important.

Sales performance versus main competitors, sales versus budget and prior year and quality statistics.

ON BEHALF OF THE BOARD:





S S Chawla - Director


31 January 2024

VANILLA RETAIL GROUP LTD (REGISTERED NUMBER: 13436575)

REPORT OF THE DIRECTORS
FOR THE PERIOD 3 JUNE 2021 TO 30 JUNE 2022

The directors present their report with the financial statements of the company for the period 3 June 2021 to 30 June 2022.

INCORPORATION
The company was incorporated on 3 June 2021 and commenced trading on 1 July 2021.

PRINCIPAL ACTIVITY
The principal activity of the company in the period under review was that of clothing retail.

DIVIDENDS
No dividends will be distributed for the period ended 30 June 2022.

DIRECTORS
The directors who have held office during the period from 3 June 2021 to the date of this report are as follows:

S S Chawla - appointed 3 June 2021
Mrs R K Chawla - appointed 17 June 2021
D S Chawla - appointed 17 June 2021
A S Chawla - appointed 17 June 2021

All the directors who are eligible offer themselves for election at the forthcoming first Annual General Meeting.


VANILLA RETAIL GROUP LTD (REGISTERED NUMBER: 13436575)

REPORT OF THE DIRECTORS
FOR THE PERIOD 3 JUNE 2021 TO 30 JUNE 2022

FINANCIAL INSTRUMENTS
Treasury operations and financial instruments

The company operates a treasury function which is responsible for managing the liquidity, interest and foreign currency risks associated with the company's activities.

The company's principal financial instruments include derivative financial instruments, the purpose of which is to manage currency risks and interest rate risks arising from the company's activities, and bank overdrafts, loans and corporate bonds, the main purpose of which is to raise finance for the company's operations. In addition, the company has various other financial assets and liabilities such as trade debtors and trade creditors arising directly from its operations. Derivative transactions which the company enters into principally comprise forward exchange contracts. In accordance with company's treasury policy, derivative instruments are not entered into for speculative purposes.

Liquidity risk

The company manages its cash and borrowing requirements in order to maximise interest income and minimise interest expense, whilst ensuring the company has sufficient liquid resources to meet the operating needs of the business.

Interest rate risk

The company is exposed to fair value interest rate risk on its fixed rate borrowings and cash flow interest rate risk on floating rate deposits, bank overdrafts and loans. The company uses interest rate derivatives to manage the mix of fixed and variable rate debt so as to reduce its exposure to changes in interest rates.

Credit risk

The company is exposed to the risk of claw back on finance commissions, if the customer fails the necessary standards set out in the terms and conditions of the finance companies. The risk is limited to the value of the commission received.

All customers who wish to trade on credit terms are subject to credit verification procedures. Trade debtors are monitored on an ongoing basis and provision is made for doubtful debts where necessary.

Price risk

The company is exposed to price risk as a result of its operations in a competitive market. The company monitors this using Key Performance indicators (KPIs) and acts accordingly.

Disabled persons

It is the policy of the company to give full and fair consideration to applications for employment from disabled persons, to continue wherever possible the employment of members of staff who may become disabled and to ensure that suitable training, career development and promotion are offered to such persons.

Employee involvement

The company's policy is to consult and discuss with employees, through staff councils and at meetings, matters likely to affect employees' interests.

Information about matters of concern to employees is given through information bulletins and reports which seek to achieve a common awareness on the part of all employees of the financial and economic factors affecting the company's performance.

STREAMLINED ENERGY AND CARBON REPORTING
As the company has not consumed more than 40,000 kWh of energy in this reporting period, it qualifies as a low energy user under these regulations and is not required to report on its emissions, energy consumption or energy efficiency activities.


VANILLA RETAIL GROUP LTD (REGISTERED NUMBER: 13436575)

REPORT OF THE DIRECTORS
FOR THE PERIOD 3 JUNE 2021 TO 30 JUNE 2022

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Xeinadin Audit Ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





S S Chawla - Director


31 January 2024

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
VANILLA RETAIL GROUP LTD

Opinion
We have audited the financial statements of Vanilla Retail Group Ltd (the 'company') for the period ended 30 June 2022 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 30 June 2022 and of its profit for the period then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

An overview of the scope of our audit
We planned and performed our audit so as to obtain all the information and explanations which we considered necessary in order to provide us with sufficient evidence to give reasonable assurance that the financial statements are free from material misstatement whether caused by fraud or other irregularity or error. However, the evidence available to us was limited because we were not appointed auditors of the company until 4 August 2023, and in consequence it was not possible for us to perform the auditing procedures necessary to obtain sufficient appropriate audit evidence with respect to stock which is having a carrying amount of £1,926,420. The audit evidence available to us was limited because we did not observe the counting of the physical stock as at 30 June 2022, since that date was prior to our appointment as auditors of the company. Due to the fact we did not attend the physical stock take, we were unable to obtain sufficient appropriate evidence regarding stock quantity by using other audit procedures.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
VANILLA RETAIL GROUP LTD


Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page six, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

- Enquiry of management, those charged with governance and the entity's solicitors around actual and potential litigation and claims.
- Enquiry of entity staff in tax and compliance functions to identify any instances of non-compliance with laws and regulation..
- Reviewing minutes of meetings of those charged with governance.
- Reviewing internal audit reports.
- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations.
- Reviewing licensing laws and ensuring compliance.
- Auditing the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness, and evaluating the business rationale of significant transactions outside the normal course of business.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
VANILLA RETAIL GROUP LTD


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Barry Leibovitch (Senior Statutory Auditor)
for and on behalf of Xeinadin Audit Ltd
Statutory Auditors
12 Conqueror Court
Sittingbourne
Kent
ME10 5BH

31 January 2024

VANILLA RETAIL GROUP LTD (REGISTERED NUMBER: 13436575)

INCOME STATEMENT
FOR THE PERIOD 3 JUNE 2021 TO 30 JUNE 2022

Notes £   

TURNOVER 13,858,408

Cost of sales 8,603,825
GROSS PROFIT 5,254,583

Administrative expenses 2,359,676
2,894,907

Other operating income 811
OPERATING PROFIT and
PROFIT BEFORE TAXATION 2,895,718

Tax on profit 5 542,677
PROFIT FOR THE FINANCIAL PERIOD 2,353,041

VANILLA RETAIL GROUP LTD (REGISTERED NUMBER: 13436575)

OTHER COMPREHENSIVE INCOME
FOR THE PERIOD 3 JUNE 2021 TO 30 JUNE 2022

Notes £   

PROFIT FOR THE PERIOD 2,353,041


OTHER COMPREHENSIVE INCOME -
TOTAL COMPREHENSIVE INCOME
FOR THE PERIOD

2,353,041

VANILLA RETAIL GROUP LTD (REGISTERED NUMBER: 13436575)

BALANCE SHEET
30 JUNE 2022

Notes £    £   
FIXED ASSETS
Tangible assets 6 1,148,020

CURRENT ASSETS
Stocks 7 1,926,420
Debtors 8 6,667,293
Cash at bank and in hand 2,664,959
11,258,672
CREDITORS
Amounts falling due within one year 9 9,960,906
NET CURRENT ASSETS 1,297,766
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,445,786

PROVISIONS FOR LIABILITIES 11 92,645
NET ASSETS 2,353,141

CAPITAL AND RESERVES
Called up share capital 12 100
Retained earnings 13 2,353,041
SHAREHOLDERS' FUNDS 2,353,141

The financial statements were approved by the Board of Directors and authorised for issue on 31 January 2024 and were signed on its behalf by:





S S Chawla - Director


VANILLA RETAIL GROUP LTD (REGISTERED NUMBER: 13436575)

STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD 3 JUNE 2021 TO 30 JUNE 2022

Called up
share Retained Total
capital earnings equity
£    £    £   

Changes in equity
Issue of share capital 100 - 100
Total comprehensive income - 2,353,041 2,353,041
Balance at 30 June 2022 100 2,353,041 2,353,141

VANILLA RETAIL GROUP LTD (REGISTERED NUMBER: 13436575)

CASH FLOW STATEMENT
FOR THE PERIOD 3 JUNE 2021 TO 30 JUNE 2022

Notes £   
Cash flows from operating activities
Cash generated from operations 1 3,452,508
Net cash from operating activities 3,452,508

Cash flows from investing activities
Purchase of tangible fixed assets (1,305,754 )
Net cash from investing activities (1,305,754 )

Cash flows from financing activities
Intercompany 518,105
Share issue 100
Net cash from financing activities 518,205

Increase in cash and cash equivalents 2,664,959
Cash and cash equivalents at beginning of
period

2

-

Cash and cash equivalents at end of
period

2

2,664,959

VANILLA RETAIL GROUP LTD (REGISTERED NUMBER: 13436575)

NOTES TO THE CASH FLOW STATEMENT
FOR THE PERIOD 3 JUNE 2021 TO 30 JUNE 2022

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS
£   
Profit before taxation 2,895,718
Depreciation charges 157,734
3,053,452
Increase in stocks (1,926,420 )
Increase in trade and other debtors (6,667,293 )
Increase in trade and other creditors 8,992,769
Cash generated from operations 3,452,508

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Period ended 30 June 2022
30.6.22 3.6.21
£    £   
Cash and cash equivalents 2,664,959 -


3. ANALYSIS OF CHANGES IN NET FUNDS

At 3.6.21 Cash flow At 30.6.22
£    £    £   
Net cash
Cash at bank and in hand - 2,664,959 2,664,959
- 2,664,959 2,664,959
Total - 2,664,959 2,664,959

VANILLA RETAIL GROUP LTD (REGISTERED NUMBER: 13436575)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 3 JUNE 2021 TO 30 JUNE 2022

1. STATUTORY INFORMATION

Vanilla Retail Group Ltd 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
In the application of the company’s accounting policies, the directors are required to make judgements,
estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent
from other sources. The estimates and associated assumptions are based on historical experience and other
factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting
estimates are recognised in the period in which the estimate is revised where the revision affects only that
period, or in the period of the revision and future periods where the revision affects both current and future
periods.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 10% on cost
Fixtures and fittings - 15% on reducing balance
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.

Financial instruments

20222021
£   £   

Carrying amount of financial assets

Financial assets measured at cost6,094,757



Carrying amount of financial liabilities

Financial liabilities measured at cost9,052,251


Financial assets that are debt instruments measured at cost comprise trade debtors, amounts owed by group undertakings and other debtors.

Financial liabilities measured at cost comprise trade creditors, amount owed to group undertakings, other creditors and finance lease obligations.

VANILLA RETAIL GROUP LTD (REGISTERED NUMBER: 13436575)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 3 JUNE 2021 TO 30 JUNE 2022

2. ACCOUNTING POLICIES - continued

Taxation
Taxation for the period 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 period 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
£   
Wages and salaries 985,373
Social security costs 59,199
Other pension costs 15,403
1,059,975

The average number of employees during the period was as follows:

Store Staffs 105
Store Manager/Assistant Manager 8
Concession Field Managers 14
Administration 10
Warehouse 1
138

£   
Directors' remuneration -

4. OPERATING PROFIT

The operating profit is stated after charging:

£   
Depreciation - owned assets 157,734
Auditors' remuneration 8,000

VANILLA RETAIL GROUP LTD (REGISTERED NUMBER: 13436575)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 3 JUNE 2021 TO 30 JUNE 2022

5. TAXATION

Analysis of the tax charge
The tax charge on the profit for the period was as follows:
£   
Current tax:
UK corporation tax 450,032

Deferred tax 92,645
Tax on profit 542,677

Reconciliation of total tax charge included in profit and loss
The tax assessed for the period is lower than the standard rate of corporation tax in the UK. The difference is explained below:

£   
Profit before tax 2,895,718
Profit multiplied by the standard rate of corporation tax in the UK of 19% 550,186

Effects of:
Capital allowances in excess of depreciation (100,154 )
Deferred tax 92,645
Total tax charge 542,677

6. TANGIBLE FIXED ASSETS
Improvements Fixtures
Short to and Computer
leasehold property fittings equipment Totals
£    £    £    £    £   
COST
Additions 29,016 749,922 488,327 38,489 1,305,754
At 30 June 2022 29,016 749,922 488,327 38,489 1,305,754
DEPRECIATION
Charge for period - 74,853 73,251 9,630 157,734
At 30 June 2022 - 74,853 73,251 9,630 157,734
NET BOOK VALUE
At 30 June 2022 29,016 675,069 415,076 28,859 1,148,020

7. STOCKS
£   
Stocks 1,926,420

VANILLA RETAIL GROUP LTD (REGISTERED NUMBER: 13436575)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 3 JUNE 2021 TO 30 JUNE 2022

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade debtors 6,094,806
Other debtors 2,505
Prepayments 569,982
6,667,293

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade creditors 8,516,590
Amounts owed to group undertakings 518,105
Tax 450,032
Social security and other taxes 18,686
VAT 125,136
Other creditors 12,678
Accrued expenses 319,679
9,960,906

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
£   
Within one year 507,264
Between one and five years 66,938
574,202

11. PROVISIONS FOR LIABILITIES
£   
Deferred tax 92,645

Deferred
tax
£   
Provided during period 92,645
Balance at 30 June 2022 92,645

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal
value: £   
100 Ordinary £1 100

100 Ordinary shares of £1 were issued during the period for cash of £ 100 .

VANILLA RETAIL GROUP LTD (REGISTERED NUMBER: 13436575)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 3 JUNE 2021 TO 30 JUNE 2022

13. RESERVES
Retained
earnings
£   

Profit for the period 2,353,041
At 30 June 2022 2,353,041

14. RELATED PARTY DISCLOSURES

As at the period end £518,105 was due to Nova of London Ltd a company registered in England and Wales. The directors have a beneficial interest in this company.

Sales to Nova of London Ltd were £168,851.

During the year, a total of key management personnel compensation of £223,607 was paid.

15. CONTROL

During the year, the company was controlled by the directors.