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Company Registration No. 07517768 (England and Wales)
Lady Vintage Limited Unaudited accounts for the period from 1 September 2022 to 30 August 2023
Lady Vintage Limited Unaudited accounts Contents
Page
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Lady Vintage Limited Company Information for the period from 1 September 2022 to 30 August 2023
Director
V Andreou
Secretary
V Andreou
Company Number
07517768 (England and Wales)
Registered Office
Lady Vintage Ltd Unit 15 Murrell Green Business Park, London Road Hook Hampshire RG27 9GR England
Accountants
Contrast Accounting Limited T/A Accrue Accounting Unit E4 Arena Business Centre Holyrood Close Poole BH17 7FP
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Lady Vintage Limited Statement of financial position as at 30 August 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
72 
88 
Tangible assets
97,271 
4,610 
97,343 
4,698 
Current assets
Inventories
57,070 
130,842 
Debtors
1,071,782 
1,097,458 
Cash at bank and in hand
3,279 
14,558 
1,132,131 
1,242,858 
Creditors: amounts falling due within one year
(1,150,092)
(557,474)
Net current (liabilities)/assets
(17,961)
685,384 
Total assets less current liabilities
79,382 
690,082 
Creditors: amounts falling due after more than one year
(90,981)
(115,555)
Provisions for liabilities
Deferred tax
- 
(1,153)
Net (liabilities)/assets
(11,599)
573,374 
Capital and reserves
Called up share capital
400 
400 
Profit and loss account
(11,999)
572,974 
Shareholders' funds
(11,599)
573,374 
For the period ending 30 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 20 August 2024 and were signed on its behalf by
V Andreou Director Company Registration No. 07517768
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Lady Vintage Limited Notes to the Accounts for the period from 1 September 2022 to 30 August 2023
1
Statutory information
Lady Vintage Limited is a private company, limited by shares, registered in England and Wales, registration number 07517768. The registered office is Lady Vintage Ltd, Unit 15, Murrell Green Business Park, London Road, Hook, Hampshire, RG27 9GR, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous period, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Presentation currency
The accounts are presented in £ sterling.
Intangible fixed assets other than goodwill
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity. Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Trademarks 5% straight line basis
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% straight line basis
Motor vehicles
10% straight line basis
Stocks
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
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Lady Vintage Limited Notes to the Accounts for the period from 1 September 2022 to 30 August 2023
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Classification of financial liabilities Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Basic financial liabilities Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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Lady Vintage Limited Notes to the Accounts for the period from 1 September 2022 to 30 August 2023
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
Going concern
The company is continuing to trade on the basis that there has been an exceptional profit and loss item in the 2023 accounts. The Director is operating as usual and believes the company is a going concern.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 September 2022
320 
At 30 August 2023
320 
Amortisation
At 1 September 2022
232 
Charge for the period
16 
At 30 August 2023
248 
Net book value
At 30 August 2023
72 
At 31 August 2022
88 
5
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 September 2022
6,945 
- 
6,945 
Additions
5,068 
99,995 
105,063 
At 30 August 2023
12,013 
99,995 
112,008 
Depreciation
At 1 September 2022
2,335 
- 
2,335 
Charge for the period
2,403 
9,999 
12,402 
At 30 August 2023
4,738 
9,999 
14,737 
Net book value
At 30 August 2023
7,275 
89,996 
97,271 
At 31 August 2022
4,610 
- 
4,610 
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Lady Vintage Limited Notes to the Accounts for the period from 1 September 2022 to 30 August 2023
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
22,074 
- 
Trade debtors
21,106 
12,143 
Other debtors
1,028,602 
1,085,315 
1,071,782 
1,097,458 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
- 
13,209 
Trade creditors
68,297 
64,594 
Taxes and social security
76,295 
92,443 
Other creditors
971,000 
387,228 
Accruals
34,500 
- 
1,150,092 
557,474 
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
90,981 
115,555 
The long and short-term loans are secured by fixed charge over the assets of the company.
9
Transactions with related parties
At the balance sheet date the amount owed from the directors to the company was £224,951 (2022: £218,315). Interest has been charged on this amount. The loan was repaid in full after the year end.
10
Average number of employees
During the period the average number of employees was 4 (2022: 6).
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