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COMPANY REGISTRATION NUMBER: 07531168
VINEY BECKS (SHELF) LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 October 2023
VINEY BECKS (SHELF) LIMITED
STATEMENT OF FINANCIAL POSITION
31 October 2023
2023
2022
Note
£
£
£
£
FIXED ASSETS
Investments
4
284,883
299,883
CURRENT ASSETS
Debtors
5
6,489
Cash at bank and in hand
908
626
----
-------
908
7,115
CREDITORS: amounts falling due within one year
6
52,327
51,146
---------
---------
NET CURRENT LIABILITIES
51,419
44,031
----------
----------
TOTAL ASSETS LESS CURRENT LIABILITIES
233,464
255,852
CREDITORS: amounts falling due after more than one year
Bank loans and overdrafts
15,833
27,350
----------
----------
NET ASSETS
217,631
228,502
----------
----------
VINEY BECKS (SHELF) LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 October 2023
2023
2022
Note
£
£
£
£
CAPITAL AND RESERVES
Called up share capital
100
100
Profit and loss account
217,531
228,402
----------
----------
SHAREHOLDERS FUNDS
217,631
228,502
----------
----------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 October 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 29 July 2024 , and are signed on behalf of the board by:
D Becks
Director
Company registration number: 07531168
VINEY BECKS (SHELF) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 OCTOBER 2023
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 3 Carlton Place, Halifax, HX1 2SB, West Yorkshire.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. There are not considered to be any judgements or accounting estimates or assumptions that have a significant impact on the financial statements.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Current and deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax. Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
4. INVESTMENTS
Investment property
£
Cost
At 1 November 2022 and 31 October 2023
299,883
----------
Impairment
At 1 November 2022
Impairment losses
15,000
----------
At 31 October 2023
15,000
----------
Carrying amount
At 31 October 2023
284,883
----------
At 31 October 2022
299,883
----------
The investment property has been valued by the directors, using the return on investment and the estimated market value to reach a fair value for this property. Impairment losses have been provided for in relation to a property, where it is considered the market value is less than cost.
5. DEBTORS
2023
2022
£
£
Trade debtors
1,677
Other debtors
4,812
----
-------
6,489
----
-------
6. CREDITORS: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
10,000
23,935
Amounts owed to group undertakings and undertakings in which the company has a participating interest
20,448
Corporation tax
1,067
6,711
Social security and other taxes
562
Other creditors
20,250
20,500
---------
---------
52,327
51,146
---------
---------
7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES
The directors loans accounts were in credit throughout the year. The loans are unsecured interest free and repayable on demand.
8. RELATED PARTY TRANSACTIONS
An amount of £20,448 is due to V B (Halifax) Ltd, a company under common control of the directors. The loan in unsecured, interest free and repayable on demand.