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Registered number: 12655195
Vintage & Vine Ltd
Unaudited Financial Statements
For The Year Ended 31 August 2023
Mendip Accounting Solutions Ltd
6 Hill Road
Clevedon
North Somerset
BS21 7NE
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 12655195
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 6,163 8,319
6,163 8,319
CURRENT ASSETS
Stocks 5 50,000 50,000
Debtors 6 6,446 3,473
Cash at bank and in hand 4,615 3,453
61,061 56,926
Creditors: Amounts Falling Due Within One Year 7 (71,343 ) (69,515 )
NET CURRENT ASSETS (LIABILITIES) (10,282 ) (12,589 )
TOTAL ASSETS LESS CURRENT LIABILITIES (4,119 ) (4,270 )
NET LIABILITIES (4,119 ) (4,270 )
CAPITAL AND RESERVES
Called up share capital 8 2 2
Profit and Loss Account (4,121 ) (4,272 )
SHAREHOLDERS' FUNDS (4,119) (4,270)
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For the year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Dominique Lamy
Director
29/03/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Vintage & Vine Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12655195 . The registered office is Puro, Rear Of 32-34 Hill Road, Clevedon, BS21 7PH.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 25% reducing balance
Computer Equipment 33% straight line
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2022: 5)
4 5
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4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 September 2022 12,995 1,390 14,385
Additions 285 - 285
As at 31 August 2023 13,280 1,390 14,670
Depreciation
As at 1 September 2022 5,385 681 6,066
Provided during the period 1,974 467 2,441
As at 31 August 2023 7,359 1,148 8,507
Net Book Value
As at 31 August 2023 5,921 242 6,163
As at 1 September 2022 7,610 709 8,319
5. Stocks
2023 2022
£ £
Materials 50,000 50,000
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 983 (2,415 )
Prepayments and accrued income 1,205 341
Other debtors 2,167 2,167
Directors' loan accounts 2,091 3,380
6,446 3,473
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 16,252 13,414
Other taxes and social security 2,780 2,004
VAT 4,494 4,296
Net wages 1,069 2,095
Other creditors 46,748 46,386
Accruals and deferred income - 1,320
71,343 69,515
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 2 2
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9. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
The above loan is unsecured, interest free and repayable on demand.
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