2023-03-01 04271137 2024-02-29 04271137 2023-03-01 2024-02-29 04271137 2023-02-28 04271137 2022-03-01 2023-02-28 04271137 uk-core:WithinOneYear 2023-02-28 04271137 uk-core:WithinOneYear 2024-02-29 04271137 uk-core:ShareCapital 2024-02-29 04271137 uk-core:ShareCapital 2023-02-28 04271137 uk-core:RetainedEarningsAccumulatedLosses 2024-02-29 04271137 uk-core:RetainedEarningsAccumulatedLosses 2023-02-28 04271137 uk-bus:Director1 2023-03-01 2024-02-29 04271137 uk-core:NetGoodwill 2023-03-01 2024-02-29 04271137 uk-core:CommercialMotorVehicles 2023-03-01 2024-02-29 04271137 uk-core:FurnitureFittings 2023-03-01 2024-02-29 04271137 uk-core:Goodwill 2023-02-28 04271137 uk-core:CopyrightsPatentsTrademarksServiceOperatingRights 2023-02-28 04271137 uk-core:Goodwill 2024-02-29 04271137 uk-core:CopyrightsPatentsTrademarksServiceOperatingRights 2024-02-29 04271137 uk-core:FurnitureFittings 2023-02-28 04271137 uk-core:CommercialMotorVehicles 2023-02-28 04271137 uk-core:CommercialMotorVehicles 2024-02-29 04271137 uk-core:FurnitureFittings 2024-02-29 iso4217:GBP xbrli:pure 04271137 uk-bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 04271137 uk-bus:FRS102 2023-03-01 2024-02-29 04271137 uk-bus:FilletedAccounts 2023-03-01 2024-02-29 04271137 uk-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29
The Vintage Clothing Company Limited
Registered Number:04271137
For the year ended 29 February 2024
England and Wales
Unaudited Financial Statements
2
For the year ended 29 February 2024
The Vintage Clothing Company Limited
Contents Page
1
Statement of Financial Position
2 to 4
Notes to the Financial Statements
3
Registered Number :
04271137
As at 29 February 2024
The Vintage Clothing Company Limited
Statement of Financial Position
£
£
2023
2024
Notes
Fixed assets
Property, plant and equipment
60,658
67,824
3
60,658
67,824
Current assets
Inventories
838,916
843,575
4
Trade and other receivables
509,504
704,398
5
1,624,875
Cash and cash equivalents
1,694,301
3,242,274
2,973,295
Trade and other payables: amounts falling due within one
year
(286,047)
(331,662)
6
2,687,248
2,910,612
Net current assets
Total assets less current liabilities
2,971,270
2,755,072
2,971,270
Net assets
2,755,072
Capital and reserves
Called up share capital
1,000
1,000
Retained earnings
2,970,270
2,754,072
2,971,270
2,755,072
Shareholders' funds
For the year ended 29 February 2024 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 of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section
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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Mr Richard Philip Free Director
These financial statements were approved and authorised for issue by the Board on 25 September 2024 and were signed by:
The notes form part of these financial statements
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4
For the year ended 29 February 2024
The Vintage Clothing Company Limited
Notes to the Financial Statements
Statutory Information
The Vintage Clothing Company Limited is a private limited company, limited by shares, domiciled in England and
Wales, registration number 04271137.
Registered address:
Unit 36 Stephensons Way
Formby Industrial Estate
Formby
Merseyside
L37 8EG
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the
Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain assets.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2001, is being amortised evenly over its estimated useful life of 20 years.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
20% Reducing balance
Motor vehicles
20% Reducing balance
Fixtures and fittings
Inventories
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the profit and loss account.
Hire purchase and leasing commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme for the benefit of its directors/and employees. Contributions payable are charged to the profit and loss account in the period in which they are payable.
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5
For the year ended 29 February 2024
The Vintage Clothing Company Limited
Notes to the Financial Statements Continued
2. Intangible fixed assets
Other
Intangible
Assets
Total
Goodwill
Cost or valuation
£
£
£
600,000
At 01 March 2023
601,500
1,500
601,500
600,000
At 29 February 2024
1,500
Amortisation
601,500
600,000
At 01 March 2023
1,500
601,500
At 29 February 2024
600,000
1,500
-
Net book value
-
At 29 February 2024
-
At 28 February 2023
-
-
-
3. Property, plant and equipment
Total
Fixtures and
fittings
Motor vehicles
£
£
£
Cost or
valuation
At 01 March 2023
267,848
256,048
11,800
7,999
7,999
-
Additions
At 29 February 2024
11,800
264,047
275,847
Provision for depreciation and impairment
At 01 March 2023
200,024
193,057
6,967
Charge for year
15,165
14,198
967
At 29 February 2024
215,189
207,255
7,934
At 29 February 2024
Net book value
3,866
56,792
60,658
At 28 February 2023
4,833
62,991
67,824
4. Inventories
2023
2024
£
£
Stocks
843,575
838,916
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6
For the year ended 29 February 2024
The Vintage Clothing Company Limited
Notes to the Financial Statements Continued
5. Trade and other receivables
2023
2024
£
£
Trade debtors
425,933
297,444
Other debtors
278,465
212,060
509,504
704,398
6. Trade and other payables: amounts falling due within one year
2023
2024
£
£
Trade creditors
80,125
82,783
Taxation and social security
236,775
190,340
Other creditors
14,762
12,924
331,662
286,047
7. Related party transactions
During the year the company sold goods amounting to £ 279358 (2023: £ 277296) to 'Free & Johanssons Vintage
AB' a company registered in Sweden and a company in which Mr R.P. Free has a controlling interest. These goods
were sold on an arms length basis. An amount of £ 23630 (2023: £ 27531) was outstanding at the year end which is
disclosed within Trade Debtors.
During the year the company sold goods amounting to £ 129007 (2023: £ 0) to 'The Vintage Clothing Company FT
GmbH' a company registered in Germany and a company in which Mr R.P. Free has a controlling interest. These
goods were sold on an arms length basis. An amount of £ 129007 (2023: £ 0) was outstanding at the year end which
is disclosed within Trade Debtors.
During the year, there were transactions totalling £ 34295 (2023: £0) resulting in an intercompany loan to 'The
Vintage Clothing Company FT GmbH' a company registered in Germany and a company in which Mr R.P. Free has a
controlling interest. The amount outstanding at the end of the year was £ 34295 (2023: £ 0) disclosed in other
debtors.
8. Average number of persons employed
During the year the average number of employees was 53 (2023 : 49)
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