Registered number
11608358
Vinature Ltd
Unaudited Filleted Accounts
31 October 2023
Vinature Ltd
Registered number: 11608358
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 220 288
Current assets
Stocks 87,916 94,016
Debtors 4 788 379
Cash at bank and in hand 546 5,369
89,250 99,764
Creditors: amounts falling due within one year 5 (37,690) (34,841)
Net current assets 51,560 64,923
Total assets less current liabilities 51,780 65,211
Creditors: amounts falling due after more than one year 6 (58,555) (60,185)
Provisions for liabilities (129) (116)
Net (liabilities)/assets (6,904) 4,910
Capital and reserves
Called up share capital 1 1
Profit and loss account (6,905) 4,909
Shareholder's funds (6,904) 4,910
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 member has 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.
James Robson
Director
Approved by the board on 16 April 2024
Vinature Ltd
Notes to the Accounts
for the year ended 31 October 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Going Concern
The accounts show net liabilities. The accounts have been prepared on the going concern basis as the director will continue to support the business financially for at least 12 months from the date of the accounts.
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.
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 over 6.66 years
Computer equipment over 3 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 November 2022 733
At 31 October 2023 733
Depreciation
At 1 November 2022 445
Charge for the year 68
At 31 October 2023 513
Net book value
At 31 October 2023 220
At 31 October 2022 288
4 Debtors 2023 2022
£ £
Trade debtors 788 -
Corporation tax debtor - 379
788 379
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 2,000 2,000
Trade creditors 5,881 1,560
Taxation and social security costs 117 1,584
Director's account 29,572 28,756
Other creditors 120 941
37,690 34,841
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 3,555 5,185
Director's account due after 1 year 55,000 55,000
58,555 60,185
7 Related party transactions
No Related Party transactions.
8 Transactions with Director
During the year, Director James Robson, used a current account with the company to record amounts due to him and amount drawn by him. The accounts show an amount owing back to Mr James Robson as at 31st October 2023 of £84,572.09 (2022: £83,755.69). The amount is repayable on demand, however James Robson does not expect £55,000 of this balance to be repaid within 12 months of the yearend.
9 Controlling party
Mr James Robson owns 100% of the share capital. Therefore, Mr James Robson is the company's ultimate controlling party.
10 Other information
Vinature Ltd is a private company limited by shares and incorporated in England and Wales. Its registered office is:
Highland Cottage
Bredwardine
Hereford
England
HR3 6BZ
Vinature Ltd 11608358 false 2022-11-01 2023-10-31 2023-10-31 VT Final Accounts April 2024 James Robson No description of principal activity 11608358 2021-11-01 2022-10-31 11608358 core:WithinOneYear 2022-10-31 11608358 core:AfterOneYear 2022-10-31 11608358 core:ShareCapital 2022-10-31 11608358 core:RetainedEarningsAccumulatedLosses 2022-10-31 11608358 core:CurrentFinancialInstruments 2022-10-31 11608358 core:Non-currentFinancialInstruments 2022-10-31 11608358 2022-11-01 2023-10-31 11608358 bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 11608358 bus:AuditExemptWithAccountantsReport 2022-11-01 2023-10-31 11608358 bus:Director40 2022-11-01 2023-10-31 11608358 1 2022-11-01 2023-10-31 11608358 2 2022-11-01 2023-10-31 11608358 core:PlantMachinery 2022-11-01 2023-10-31 11608358 countries:England 2022-11-01 2023-10-31 11608358 bus:FRS102 2022-11-01 2023-10-31 11608358 bus:FilletedAccounts 2022-11-01 2023-10-31 11608358 2023-10-31 11608358 core:WithinOneYear 2023-10-31 11608358 core:AfterOneYear 2023-10-31 11608358 core:ShareCapital 2023-10-31 11608358 core:RetainedEarningsAccumulatedLosses 2023-10-31 11608358 core:PlantMachinery 2023-10-31 11608358 core:CurrentFinancialInstruments 2023-10-31 11608358 core:Non-currentFinancialInstruments 2023-10-31 11608358 2022-10-31 11608358 core:PlantMachinery 2022-10-31 iso4217:GBP xbrli:pure