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Registered Number: 10290702
England and Wales

 

 

 

VIP MAYFAIR LTD


Abridged Accounts
 


Period of accounts

Start date: 01 August 2022

End date: 31 July 2023
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 84,568    44,493 
84,568    44,493 
Current assets      
Debtors 16,673    23,026 
Cash at bank and in hand 21,538    7,248 
38,211    30,274 
Creditors: amount falling due within one year (18,941)   (5,610)
Net current assets 19,270    24,664 
 
Total assets less current liabilities 103,838    69,157 
Creditors: amount falling due after more than one year (68,659)   (61,500)
Accruals and deferred income   14,157 
Net assets 35,179    21,814 
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account 35,079    21,714 
Shareholder's funds 35,179    21,814 
 


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

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 17 April 2024 and were signed by:


-------------------------------
Esmat Khan
Director
1
General Information
VIP MAYFAIR LTD is a private company, limited by shares, registered in England and Wales, registration number 10290702, registration address Flat 47 Attrium Apartments, 12 West Row, LONDON, W10 5SJ.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Website cost
Planning and operating costs for the company's website are charged to the income statement as incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Computer Equipment 18% Reducing Balance
Motor Vehicles 18% Reducing Balance
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 1 (2022 : 1).
3.

Tangible fixed assets

Cost or valuation Motor Vehicles   Computer Equipment   Total
  £   £   £
At 01 August 2022 51,863    3,408    55,271 
Additions 50,350      50,350 
Disposals    
At 31 July 2023 102,213    3,408    105,621 
Depreciation
At 01 August 2022 10,369    409    10,778 
Charge for year 9,735    540    10,275 
On disposals    
At 31 July 2023 20,104    949    21,053 
Net book values
Closing balance as at 31 July 2023 82,109    2,459    84,568 
Opening balance as at 01 August 2022 41,494    2,999    44,493 


2