Registered number
06203052
Vinny Enterprises Ltd
Filleted Accounts
30 April 2023
Vinny Enterprises Ltd
Registered number: 06203052
Balance Sheet
as at 30 April 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 3,497 3,430
Tangible assets 4 561,497 313,314
564,994 316,744
Current assets
Stocks 8,000 8,000
Debtors 5 227,963 529,216
Cash at bank and in hand 30,037 6,781
266,000 543,997
Creditors: amounts falling due within one year 6 (339,402) (161,188)
Net current (liabilities)/assets (73,402) 382,809
Total assets less current liabilities 491,592 699,553
Creditors: amounts falling due after more than one year 7 (226,361) (237,603)
Net assets 265,231 461,950
Capital and reserves
Called up share capital 175 175
Share premium 17,235 17,235
Profit and loss account 247,821 444,540
Shareholders' funds 265,231 461,950
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Vinesh Patel
Director
Approved by the board on 8 February 2024
Vinny Enterprises Ltd
Notes to the Accounts
for the year ended 30 April 2023
1 Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment - Cat 1 over 20 years
Fixtures, fittings, tools and equipment - Cat 2 over 10 years
Vehicles over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 17 10
3 Intangible fixed assets £
Goodwill:
Cost
At 1 May 2022 80,015
Additions 500
At 30 April 2023 80,515
Amortisation
At 1 May 2022 76,585
Provided during the year 433
At 30 April 2023 77,018
Net book value
At 30 April 2023 3,497
At 30 April 2022 3,430
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 May 2022 127,413 531,603 35,885 694,901
Additions 4,660 313,368 - 318,028
At 30 April 2023 132,073 844,971 35,885 1,012,929
Depreciation
At 1 May 2022 85,325 275,373 20,889 381,587
Charge for the year 9,981 56,865 2,999 69,845
At 30 April 2023 95,306 332,238 23,888 451,432
Net book value
At 30 April 2023 36,767 512,733 11,997 561,497
At 30 April 2022 42,088 256,230 14,996 313,314
5 Debtors 2023 2022
£ £
Trade debtors 13,579 33,285
Amounts owed by group undertakings and undertakings in which the company has a participating interest 120,245 112,545
Other debtors 94,139 383,386
227,963 529,216
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 84,007 53,723
Taxation and social security costs 235,230 95,890
Other creditors 20,165 11,575
339,402 161,188
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 212,054 228,026
Other creditors 14,307 9,577
226,361 237,603
8 Other information
Vinny Enterprises Ltd is a private company limited by shares and incorporated in England. Its registered office is:
56 Leman Street
London
E1 8EU
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