Vinden Estates Limited 07716070 false 2022-08-01 2023-07-31 2023-07-31 The principal activity of the company is property management Digita Accounts Production Advanced 6.30.9574.0 true 07716070 2022-08-01 2023-07-31 07716070 2023-07-31 07716070 core:RetainedEarningsAccumulatedLosses 2023-07-31 07716070 core:ShareCapital 2023-07-31 07716070 core:CurrentFinancialInstruments 2023-07-31 07716070 core:CurrentFinancialInstruments core:WithinOneYear 2023-07-31 07716070 core:FurnitureFittingsToolsEquipment 2023-07-31 07716070 core:MotorVehicles 2023-07-31 07716070 bus:SmallEntities 2022-08-01 2023-07-31 07716070 bus:AuditExemptWithAccountantsReport 2022-08-01 2023-07-31 07716070 bus:FullAccounts 2022-08-01 2023-07-31 07716070 bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 07716070 bus:Director1 2022-08-01 2023-07-31 07716070 bus:Director2 2022-08-01 2023-07-31 07716070 bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 07716070 bus:Agent1 2022-08-01 2023-07-31 07716070 core:FurnitureFittingsToolsEquipment 2022-08-01 2023-07-31 07716070 core:MotorVehicles 2022-08-01 2023-07-31 07716070 core:OtherVehicles 2022-08-01 2023-07-31 07716070 countries:EnglandWales 2022-08-01 2023-07-31 07716070 2022-07-31 07716070 core:FurnitureFittingsToolsEquipment 2022-07-31 07716070 core:MotorVehicles 2022-07-31 07716070 2021-08-01 2022-07-31 07716070 2022-07-31 07716070 core:RetainedEarningsAccumulatedLosses core:RestatedAmount 2022-07-31 07716070 core:ShareCapital core:RestatedAmount 2022-07-31 07716070 core:CurrentFinancialInstruments core:WithinOneYear core:RestatedAmount 2022-07-31 07716070 core:CurrentFinancialInstruments core:RestatedAmount 2022-07-31 07716070 core:FurnitureFittingsToolsEquipment 2022-07-31 07716070 core:MotorVehicles 2022-07-31 07716070 core:RestatedAmount 2022-07-31 iso4217:GBP xbrli:pure

REGISTRAR OF COMPANIES

Registration number: 07716070

Vinden Estates Limited

Unaudited Financial Statements

31 July 2023

image-name

 

Vinden Estates Limited

Contents

Accountants' Report

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

4

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Vinden Estates Limited
for the Year Ended 31 July 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Vinden Estates Limited for the year ended 31 July 2023 as set out on pages 2 to 9 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 at http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Vinden Estates Limited, as a body, in accordance with the terms of our engagement letter dated 19 April 2023. Our work has been undertaken solely to prepare for your approval the accounts of Vinden Estates Limited and state those matters that we have agreed to state to the Board of Directors of Vinden Estates Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Vinden Estates Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Vinden Estates Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Vinden Estates Limited. You consider that Vinden Estates 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 accounts of Vinden Estates 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 accounts.



Dodd & Co Limited
Chartered Accountants
FIFTEEN Rosehill
Montgomery Way
Rosehill Estate
CARLISLE
CA1 2RW

9 January 2024

 

Vinden Estates Limited

(Registration number: 07716070)
Balance Sheet as at 31 July 2023

Note

2023
£

(As restated)

2022
£

Fixed assets

 

Tangible assets

4

3,487

16,383

Investment property

5

353,388

149,836

 

356,875

166,219

Current assets

 

Cash at bank and in hand

 

63,526

259,008

Creditors: Amounts falling due within one year

6

(3,421)

(8,163)

Net current assets

 

60,105

250,845

Total assets less current liabilities

 

416,980

417,064

Provisions for liabilities

(663)

(3,113)

Net assets

 

416,317

413,951

Capital and reserves

 

Allotted, called up and fully paid share capital

1,000

1,000

Profit and loss account

415,317

412,951

Total equity

 

416,317

413,951

 

Vinden Estates Limited

(Registration number: 07716070)
Balance Sheet as at 31 July 2023 (continued)

For the financial year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 9 January 2024 and signed on its behalf by:
 

.........................................

S Vinden

Director

.........................................

R D Vinden

Director

 

Vinden Estates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The principal place of business is:
The Old Coach House
3 Blossomgate
RIPON
HG4 2AJ

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

 

Vinden Estates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023 (continued)

Prior period errors

A prior period adjustment has been processed to introduce a deferred tax liability previously omitted in error. Adjustments have also been made to introduce income and expenditure that were omitted in error, as well as correcting the cut off of a fixed asset disposal. Investment property has also been reclassified from Tangible assets.

 

Relating to the current period disclosed in these financial statements
£

Relating to the prior period disclosed in these financial statements
£

Relating to periods before the prior period disclosed in these financial statements
£

Loss before tax

-

(732)

-

Taxation

-

3,081

-

Land and buildings

-

(149,836)

-

Investment property

-

149,836

-

Tangible assets

-

13,237

-

Cash at bank and in hand

-

(2,462)

-

Debtors

-

(8,167)

-

Creditors

-

(5,340)

-

Provision for liabilities

-

(3,113)

-

Profit and loss account

-

4,452

-

    

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.

 

Vinden Estates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023 (continued)

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

25% reducing balance basis

Furniture, fittings and office equipment

15% reducing balance and 3 year straight line basis

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined periodically by the directors. The directors use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Vinden Estates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023 (continued)

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method where due after more than one year.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2022 - 3).

 

Vinden Estates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023 (continued)

4

Tangible assets

Motor vehicles
 £

Furniture, fittings and office equipment
 £

Total
£

Cost or valuation

At 1 August 2022

26,100

3,755

29,855

Additions

-

1,226

1,226

Disposals

(23,532)

-

(23,532)

At 31 July 2023

2,568

4,981

7,549

Depreciation

At 1 August 2022

12,253

1,219

13,472

Charge for the year

152

733

885

Eliminated on disposal

(10,295)

-

(10,295)

At 31 July 2023

2,110

1,952

4,062

Carrying amount

At 31 July 2023

458

3,029

3,487

At 31 July 2022

13,847

2,536

16,383

5

Investment properties

£

At 1 August 2022

149,836

Additions

203,552

At 31 July 2023

353,388

There has been no valuation of investment property by an independent valuer. The directors have reviewed the valuation of investment properties and consider the original cost to be a reasonable estimate of fair valuation at year end.

 

Vinden Estates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023 (continued)

6

Creditors

Note

2023
£

(As restated)

2022
£

Due within one year

 

Loans and borrowings

7

546

7,082

Corporation tax liability

 

1,075

-

Other creditors

 

1,800

1,081

 

3,421

8,163

7

Loans and borrowings

2023
£

(As restated)

2022
£

Current loans and borrowings

Other borrowings

546

7,082