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REGISTERED NUMBER: 10564868 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

VINCE DEVELOPMENTS LIMITED

VINCE DEVELOPMENTS LIMITED (REGISTERED NUMBER: 10564868)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

VINCE DEVELOPMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTOR: O Burton





REGISTERED OFFICE: 20 Havelock Road
Hastings
East Sussex
TN34 1BP





REGISTERED NUMBER: 10564868 (England and Wales)





ACCOUNTANTS: Ashdown Hurrey
Chartered Accountants & Business Advisers
20 Havelock Road
Hastings
East Sussex
TN34 1BP

VINCE DEVELOPMENTS LIMITED (REGISTERED NUMBER: 10564868)

BALANCE SHEET
31 MARCH 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 25,468 7,629

CURRENT ASSETS
Stocks 1,139,741 895,697
Debtors 5 (342,747 ) 13,890
Cash at bank 81,677 8,656
878,671 918,243
CREDITORS
Amounts falling due within one year 6 629,243 792,116
NET CURRENT ASSETS 249,428 126,127
TOTAL ASSETS LESS CURRENT
LIABILITIES

274,896

133,756

CREDITORS
Amounts falling due after more than one
year

7

(41,099

)

(39,895

)

PROVISIONS FOR LIABILITIES (1,146 ) (1,450 )
NET ASSETS 232,651 92,411

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 232,551 92,311
SHAREHOLDERS' FUNDS 232,651 92,411

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

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

VINCE DEVELOPMENTS LIMITED (REGISTERED NUMBER: 10564868)

BALANCE SHEET - continued
31 MARCH 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 19 January 2024 and were signed by:





O Burton - Director


VINCE DEVELOPMENTS LIMITED (REGISTERED NUMBER: 10564868)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Vince Developments 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
The directors have made an assessment about the company's ability to continue as a going concern and they do not consider there to be any material uncertainties. As a result they have adopted the going concern basis of accounting.

Turnover
Turnover represents net invoiced rents, excluding value added tax. Turnover is recognised when the company receives the right to consideration.

Tangible fixed assets
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 reducing balance
Motor vehicles - 25% on reducing balance

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.

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

The average number of employees during the year was 4 (2022 - 5 ) .

VINCE DEVELOPMENTS LIMITED (REGISTERED NUMBER: 10564868)

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022 18,860
Additions 21,034
At 31 March 2023 39,894
DEPRECIATION
At 1 April 2022 11,231
Charge for year 3,195
At 31 March 2023 14,426
NET BOOK VALUE
At 31 March 2023 25,468
At 31 March 2022 7,629

5. DEBTORS
31.3.23 31.3.22
£    £   
Amounts falling due within one year:
Trade debtors 1,064 8,890
Amounts owed by participating interests 230,436 5,000
VAT 753 -
232,253 13,890

Amounts falling due after more than one year:
Prepayments and accrued income (575,000 ) -

Aggregate amounts (342,747 ) 13,890

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 9,911 9,911
Other loans 339,003 570,705
Trade creditors 15,054 383
Tax 38,049 26,034
Social security and other taxes 2,279 4,607
VAT - 727
Other creditors 3,308 8,996
Directors' current accounts 220,078 169,196
Accrued expenses 1,561 1,557
629,243 792,116

VINCE DEVELOPMENTS LIMITED (REGISTERED NUMBER: 10564868)

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

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans - 1-2 years 10,162 10,162
Bank loans - 2-5 years 13,950 13,950
Bank Loans - > 5 Yrs 16,987 15,783
41,099 39,895

Amounts falling due in more than five years:

Repayable by instalments
Bank Loans - > 5 Yrs 16,987 15,783

8. SECURED DEBTS

The following secured debts are included within creditors:

31.3.23 31.3.22
£    £   
Other loans 339,003 -

Other loans represents amounts due to investors which contain charges against the company's assets to the sum of £339,003.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
50 Ordinary A £1 100 50
50 Ordinary B £1 - 50
100 100

10. RELATED PARTY DISCLOSURES

At the year end the director was owed £220,778 (2022: £169,196) by the company, No interest is charged on this amount and there are no terms attached.

In the year work was carried out for a related company also owned by the director, this amounted to £41,305.70 and had no mark up.

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
VINCE DEVELOPMENTS LIMITED

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Vince Developments Limited for the year ended 31 March 2023 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Vince Developments Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Vince Developments Limited and state those matters that we have agreed to state to the director of Vince Developments Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Vince Developments Limited and its director for our work or for this report.

It is your duty to ensure that Vince Developments Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Vince Developments Limited. You consider that Vince Developments Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Vince Developments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Ashdown Hurrey
Chartered Accountants & Business Advisers
20 Havelock Road
Hastings
East Sussex
TN34 1BP


19 January 2024