Vincent Squibb Limited
Unaudited Financial Statements
For the year ended 30 November 2023
Pages for Filing with Registrar
Company Registration No. 05612696 (England and Wales)
Vincent Squibb Limited
Company Information
Director
V Squibb
Company number
05612696
Registered office
6th Floor
Charlotte Building
17 Gresse Street
London
W1T 1QL
Accountants
Moore Kingston Smith LLP
Charlotte Building
17 Gresse Street
London
W1T 1QL
Business address
12 Graham Terrace
London
SW1W 8JH
Vincent Squibb Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 5
Vincent Squibb Limited
Balance Sheet
As at 30 November 2023
Page 1
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,088
783
Current assets
Debtors
4
20,704
43,584
Cash at bank and in hand
203,561
376,031
224,265
419,615
Creditors: amounts falling due within one year
5
(14,183)
(78,444)
Net current assets
210,082
341,171
Net assets
211,170
341,954
Capital and reserves
Called up share capital
6
100
100
Profit and loss reserves
211,070
341,854
Total equity
211,170
341,954

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved and signed by the director and authorised for issue on 17 April 2024
V Squibb
Director
Company Registration No. 05612696
Vincent Squibb Limited
Notes to the Financial Statements
For the year ended 30 November 2023
Page 2
1
Accounting policies
Company information

Vincent Squibb Limited is a private company limited by shares incorporated in England and Wales. The registered office is 6th Floor, Charlotte Building, 17 Gresse Street, London, W1T 1QL.

1.1
Accounting convention

These financial statements have been prepared in accordance with Section 1A of FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound.

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

1.2
Going concern

The Company made a loss after taxation of £15,784 (2022: profit of £117,041) and had net assets at the 30 November of £211,170 (2022: £341,954). These financial statements are prepared on the going concern basis. The director believes that the company will have sufficient funds to settle all of its liabilities as they fall due for at least 12 months from signing the accounts.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from contracts for the provision of services is recognised by reference to the stage of completion.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings & equipment
20% Straight Line
Computer equipment
20% Straight Line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Cash at bank and in hand

Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less.

1.6
Financial instruments

The company has only basic financial instruments measured at amortised cost, with no financial instruments classified as other or basic instruments measured at fair value.

Vincent Squibb Limited
Notes to the Financial Statements (Continued)
For the year ended 30 November 2023
1
Accounting policies
(Continued)
Page 3
1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.9
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
2
2
Vincent Squibb Limited
Notes to the Financial Statements (Continued)
For the year ended 30 November 2023
Page 4
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 December 2022
8,408
Additions
707
At 30 November 2023
9,115
Depreciation and impairment
At 1 December 2022
7,625
Depreciation charged in the year
402
At 30 November 2023
8,027
Carrying amount
At 30 November 2023
1,088
At 30 November 2022
783
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
17,182
-
0
Corporation tax recoverable
3,522
-
0
Prepayments and accrued income
-
0
43,584
20,704
43,584
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
1,800
1,500
Corporation tax
-
0
27,893
Other taxation and social security
10,918
11,746
Other creditors
1,465
37,305
14,183
78,444
Vincent Squibb Limited
Notes to the Financial Statements (Continued)
For the year ended 30 November 2023
Page 5
6
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
7
Related party transactions

At the year end, the company owed £1,465 (2022: £37,305) to V Squibb, a director of the company. This is an amount included within other creditors.

 

During the financial year, V Squibb, a director of the company was voted dividends of £80,500 (2022: £38,500).

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