REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
VANILLA MOON FASHION PVT LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
VANILLA MOON FASHION PVT LIMITED |
VANILLA MOON FASHION PVT LIMITED (REGISTERED NUMBER: 06231244) |
CONTENTS OF THE FINANCIAL STATEMENTS |
For The Year Ended 31 March 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
VANILLA MOON FASHION PVT LIMITED |
COMPANY INFORMATION |
For The Year Ended 31 March 2024 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
31 High View Close |
Hamilton Office Park |
Leicester |
Leicestershire |
LE4 9LJ |
VANILLA MOON FASHION PVT LIMITED (REGISTERED NUMBER: 06231244) |
BALANCE SHEET |
31 March 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
Investment property | 6 |
CURRENT ASSETS |
Stocks |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
9 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 11 |
Retained earnings |
SHAREHOLDERS' FUNDS |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
VANILLA MOON FASHION PVT LIMITED (REGISTERED NUMBER: 06231244) |
NOTES TO THE FINANCIAL STATEMENTS |
For The Year Ended 31 March 2024 |
1. | STATUTORY INFORMATION |
Vanilla Moon Fashion Pvt Limited is a |
The company's trading address is 34, Clifton Place, London, W2 2SW. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Long leasehold | - |
Fixtures and fittings | - |
Computer equipment | - |
Long leasehold - over the lease term |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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. |
VANILLA MOON FASHION PVT LIMITED (REGISTERED NUMBER: 06231244) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 31 March 2024 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | AUDITORS' REMUNERATION |
2024 | 2023 |
£ | £ |
Fees payable to the company's auditors for the audit of the company's financial statements |
6,575 |
5,800 |
5. | TANGIBLE FIXED ASSETS |
Fixtures |
Long | and | Computer |
leasehold | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 April 2023 |
Additions |
Reclassification/transfer | ( |
) | ( |
) |
At 31 March 2024 |
DEPRECIATION |
At 1 April 2023 |
Charge for year |
Reclassification/transfer | ( |
) | ( |
) |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
Long Leasehold - over the term of the lease |
6. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
Reclassification/transfer | 1,392,654 |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
Investment properties were reviewed by the director at the year end taking into account their knowledge of local market conditions and the condition of the properties owned by the company. In their opinion the value shown in the financial statements represents a materially fair value. |
The Company had during 2022-23 purchased a new office and accordingly the old office is let out for rent on temporary basis until a suitable buyer is found. Under FRS 102 accounting standards a property that is not owner occupied and rented out for rental income must be classified and treated as an investment property. The Company is determined to sell the temporary let out property and use the proceeds of sale to prepay the loan for the new office. |
VANILLA MOON FASHION PVT LIMITED (REGISTERED NUMBER: 06231244) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 31 March 2024 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Prepayments |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Amounts owed to group undertakings |
Corporation tax |
Tax on interest | - | 2,721 |
VAT | 56,425 | 13,499 |
Other creditors |
Accrued expenses |
Interest payable (net of withholding taxes) to Leiner Shoes Pvt Ltd |
- |
10,884 |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans - 1-2 years |
Bank loans - 2-5 years |
Bank loans more 5 yr by instal |
Loan from parent company |
Leiner Shoes PVT LTD |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | 930,360 | 991,813 |
10. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Bank loans |
Bank loan is secured on a fixed and floating charge against the properties to which they relate to. |
VANILLA MOON FASHION PVT LIMITED (REGISTERED NUMBER: 06231244) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 31 March 2024 |
11. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | £1 | 1,000,000 | 551,000 |
On 15 April 2023 the board passed a written resolution to capitalise £449,000 being the loan payable by the parent company Leiner Shoes Pvt Limited at that date. As a result 449,000 ordinary shares of £1 per share in the capital of the company was allotted, credited and fully paid. |
12. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
13. | RELATED PARTY DISCLOSURES |
During the period under review the company purchased stock at cost of £1,147,301.35 (2023: £1,323,884) from Leiner Shoes Pvt Limited. The balance owed at 31 March 2024 was £602,228 (2023: £420,605). |
The company received a loan of £1,467,253 in 2015 from Leiner Shoes Pvt Limited. Company has converted the said loan into equity shares of Vanilla Moon. Hence accrued interest is £NIL (2023: £10,884). The balance owed at 31 March 2024 was £NIL (2023: £453,499). |
The company is a wholly owned subsidiary of Leiner Shoes Pvt Limited. |
Leiner Shoes Pvt Limited is incorporated in India. |