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REGISTERED NUMBER: 08499406 (England and Wales)















Unaudited Financial Statements

for the Year Ended 30 April 2024

for

Vinco Sales Ltd

Vinco Sales Ltd (Registered number: 08499406)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Vinco Sales Ltd

Company Information
for the Year Ended 30 April 2024







DIRECTOR: Mr S J Drew





SECRETARY: Mrs E Drew





REGISTERED OFFICE: Northfield House
Shurdington Road
Bentham
Cheltenham
Gloucestershire
GL51 4UA





BUSINESS ADDRESS: The Kivernoll Building
Kivernoll
Much Dewchurch
Herefordshire
HR2 8DU





REGISTERED NUMBER: 08499406 (England and Wales)





ACCOUNTANTS: ARC & Co. Accountants Limited
Northfield House
Shurdington Road
Bentham
Cheltenham
Gloucestershire
GL51 4UA

Vinco Sales Ltd (Registered number: 08499406)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,648,594 1,517,175

CURRENT ASSETS
Stocks 5 1,108,203 1,052,259
Debtors 6 537,590 411,249
Cash at bank and in hand 158,368 276,503
1,804,161 1,740,011
CREDITORS
Amounts falling due within one year 7 1,239,054 1,018,406
NET CURRENT ASSETS 565,107 721,605
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,213,701

2,238,780

CREDITORS
Amounts falling due after more than one
year

8

(996,822

)

(1,242,110

)

PROVISIONS FOR LIABILITIES 10 (222,439 ) (147,890 )
NET ASSETS 994,440 848,780

CAPITAL AND RESERVES
Called up share capital 11 2 2
Retained earnings 12 994,438 848,778
SHAREHOLDERS' FUNDS 994,440 848,780

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Vinco Sales Ltd (Registered number: 08499406)

Balance Sheet - continued
30 April 2024


The 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.

The financial statements were approved by the director and authorised for issue on 15 August 2024 and were signed by:





Mr S J Drew - Director


Vinco Sales Ltd (Registered number: 08499406)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Vinco Sales Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - in accordance with the property
Plant and machinery - 20% on cost
Hire Fleet - at variable rates on reducing balance
Motor vehicles - 25% on cost
Computer equipment - 20% on cost

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.

Vinco Sales Ltd (Registered number: 08499406)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 24 (2023 - 28 ) .

4. TANGIBLE FIXED ASSETS
Freehold Plant and Hire
property machinery Fleet
£    £    £   
COST
At 1 May 2023 700,000 74,839 870,028
Additions 15,013 36,513 122,597
Disposals - - (35,276 )
At 30 April 2024 715,013 111,352 957,349
DEPRECIATION
At 1 May 2023 - 44,540 107,788
Charge for year - 10,712 35,345
Eliminated on disposal - - (3,372 )
At 30 April 2024 - 55,252 139,761
NET BOOK VALUE
At 30 April 2024 715,013 56,100 817,588
At 30 April 2023 700,000 30,299 762,240

Vinco Sales Ltd (Registered number: 08499406)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 May 2023 40,250 24,260 1,709,377
Additions 50,000 2,639 226,762
Disposals - - (35,276 )
At 30 April 2024 90,250 26,899 1,900,863
DEPRECIATION
At 1 May 2023 20,281 19,593 192,202
Charge for year 15,542 1,840 63,439
Eliminated on disposal - - (3,372 )
At 30 April 2024 35,823 21,433 252,269
NET BOOK VALUE
At 30 April 2024 54,427 5,466 1,648,594
At 30 April 2023 19,969 4,667 1,517,175

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Hire Motor
Fleet vehicles Totals
£    £    £   
COST
At 1 May 2023 854,503 33,000 887,503
Additions 110,711 50,000 160,711
Disposals (35,276 ) - (35,276 )
Transfer to ownership (282,245 ) - (282,245 )
At 30 April 2024 647,693 83,000 730,693
DEPRECIATION
At 1 May 2023 104,683 13,031 117,714
Charge for year 23,157 15,542 38,699
Eliminated on disposal (3,372 ) - (3,372 )
Transfer to ownership (56,072 ) - (56,072 )
At 30 April 2024 68,396 28,573 96,969
NET BOOK VALUE
At 30 April 2024 579,297 54,427 633,724
At 30 April 2023 749,820 19,969 769,789

5. STOCKS
30.4.24 30.4.23
£    £   
Stocks 1,108,203 1,052,259

Vinco Sales Ltd (Registered number: 08499406)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 525,072 402,411
Directors' current accounts 3,278 -
Prepayments and accrued income 9,240 8,838
537,590 411,249

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Other loans 334,719 246,418
Hire purchase contracts 157,625 112,339
Trade creditors 453,134 497,935
Corporation tax 69,812 47,603
Social security and other taxes 6,519 8,999
Pension creditor 2,591 358
VAT 69,085 25,784
Other creditors 37,662 28,898
Directors' current accounts - 19,401
Accruals 107,907 30,671
1,239,054 1,018,406

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.24 30.4.23
£    £   
Other loans 771,191 1,064,571
Hire purchase contracts 225,631 177,539
996,822 1,242,110

9. SECURED DEBTS

The following secured debts are included within creditors:

30.4.24 30.4.23
£    £   
Other loans 1,105,910 1,310,989
Hire purchase contracts 383,256 289,878
1,489,166 1,600,867

The other loans and hire purchases are secured upon the fixed assets and stock items to which they relate, or by separate means specific to the individual contracts.

10. PROVISIONS FOR LIABILITIES
30.4.24 30.4.23
£    £   
Deferred tax 222,439 147,890

Vinco Sales Ltd (Registered number: 08499406)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

10. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 May 2023 147,890
Charge to Income Statement during year 74,549
Balance at 30 April 2024 222,439

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.24 30.4.23
value: £    £   
2 Ordinary £1 2 2

12. RESERVES
Retained
earnings
£   

At 1 May 2023 848,778
Profit for the year 255,660
Dividends (110,000 )
At 30 April 2024 994,438

13. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 April 2024 and 30 April 2023:

30.4.24 30.4.23
£    £   
Mr S J Drew
Balance outstanding at start of year - -
Amounts advanced 3,278 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 3,278 -

No interest was charged on the loan at any point during the year.

14. RELATED PARTY DISCLOSURES

During the year, Mr S J Drew received dividends from the company of £55,000 (2023 - £27,500).

15. ULTIMATE CONTROLLING PARTY

Mr S J Drew and Mrs E Drew, being husband and wife, together form the ultimate controlling party by virtue of their holding all the company's issued share capital.