BrightAccountsProduction v1.0.0 v1.0.0 2023-08-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company is the sale, rental and leasing of motor vehicles, trucks and other heavy machinery. 4 October 2024 2 2 NI631347 2024-07-31 NI631347 2023-07-31 NI631347 2022-07-31 NI631347 2023-08-01 2024-07-31 NI631347 2022-08-01 2023-07-31 NI631347 uk-bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 NI631347 uk-curr:PoundSterling 2023-08-01 2024-07-31 NI631347 uk-bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 NI631347 uk-bus:FullAccounts 2023-08-01 2024-07-31 NI631347 uk-core:ShareCapital 2024-07-31 NI631347 uk-core:ShareCapital 2023-07-31 NI631347 uk-core:RetainedEarningsAccumulatedLosses 2024-07-31 NI631347 uk-core:RetainedEarningsAccumulatedLosses 2023-07-31 NI631347 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-07-31 NI631347 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-07-31 NI631347 uk-bus:FRS102 2023-08-01 2024-07-31 NI631347 uk-core:PlantMachinery 2023-08-01 2024-07-31 NI631347 uk-core:FurnitureFittingsToolsEquipment 2023-08-01 2024-07-31 NI631347 uk-core:WithinOneYear 2024-07-31 NI631347 uk-core:WithinOneYear 2023-07-31 NI631347 uk-core:WithinOneYear 2024-07-31 NI631347 uk-core:WithinOneYear 2023-07-31 NI631347 uk-core:WithinOneYear 2024-07-31 NI631347 uk-core:WithinOneYear 2023-07-31 NI631347 uk-core:AfterOneYear 2024-07-31 NI631347 uk-core:AfterOneYear 2023-07-31 NI631347 uk-core:AfterOneYear 2024-07-31 NI631347 uk-core:AfterOneYear 2023-07-31 NI631347 uk-core:BetweenTwoFiveYears 2024-07-31 NI631347 uk-core:BetweenTwoFiveYears 2023-07-31 NI631347 uk-core:EmployeeBenefits 2023-07-31 NI631347 uk-core:EmployeeBenefits 2023-08-01 2024-07-31 NI631347 uk-core:AcceleratedTaxDepreciationDeferredTax 2024-07-31 NI631347 uk-core:TaxLossesCarry-forwardsDeferredTax 2024-07-31 NI631347 uk-core:OtherDeferredTax 2024-07-31 NI631347 uk-core:RevaluationPropertyPlantEquipmentDeferredTax 2024-07-31 NI631347 uk-core:EmployeeBenefits 2024-07-31 NI631347 2023-08-01 2024-07-31 NI631347 uk-bus:Director1 2023-08-01 2024-07-31 NI631347 uk-bus:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
 
 
Company Registration Number: NI631347
 
 
Vogue Solutions Hire and Sales Limited
 
Unaudited Financial Statements
 
for the financial year ended 31 July 2024
Vogue Solutions Hire and Sales Limited
Company Registration Number: NI631347
BALANCE SHEET
as at 31 July 2024

2024 2023
Notes £ £
 
Fixed Assets
Tangible assets 4 543,202 392,717
───────── ─────────
 
Current Assets
Stocks 5 97,079 93,918
Debtors 6 - 21,320
Cash and cash equivalents 110,418 16,449
───────── ─────────
207,497 131,687
───────── ─────────
Creditors: amounts falling due within one year 7 (53,974) (54,344)
───────── ─────────
Net Current Assets 153,523 77,343
───────── ─────────
Total Assets less Current Liabilities 696,725 470,060
 
Creditors:
amounts falling due after more than one year 8 (216,777) (187,178)
 
Provisions for liabilities 10 (97,930) (56,308)
───────── ─────────
Net Assets 382,018 226,574
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Capital and Reserves
Called up share capital 10 10
Retained earnings 382,008 226,564
───────── ─────────
Equity attributable to owners of the company 382,018 226,574
═════════ ═════════
 
The financial statements have been prepared 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 company has taken advantage of the exemption under section 444 not to file the Profit and Loss Account and Director's Report.
           
For the financial year ended 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The director confirms that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The director acknowledges his responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Director and authorised for issue on 4 October 2024
           
           
________________________________          
Mr. Barry Maguire          
Director          
           



Vogue Solutions Hire and Sales Limited
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 July 2024

   
1. General Information
 
Vogue Solutions Hire and Sales Limited is a company limited by shares incorporated in Northern Ireland. 69 Plumbridge Road, Newtownstewart, Co Tyrone, BT78 4DP, Northern Ireland is the registered office, which is also the principal place of business of the company. The principal activity of the company is the sale, rental and leasing of motor vehicles, trucks and other heavy machinery. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the year ended 31 July 2024 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Plant and machinery - 20% Reducing Balance
  Fixtures, fittings and equipment - 25% Reducing Balance
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Leasing and hire purchases
Tangible assets held under leasing and Hire Purchases arrangements which transfer substantially all the risks and rewards of ownership to the company are capitalised and included in the Balance Sheet at their cost or valuation, less depreciation. The corresponding commitments are recorded as liabilities. Payments in respect of these obligations are treated as consisting of capital and interest elements, with interest charged to the Profit and Loss Account.
 
Stocks
Stocks are valued at the lower of cost and net realisable value. Stocks are determined on a first-in first-out basis. Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition.  Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

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 tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date.
 
Government grants
Capital grants received and receivable are treated as deferred income and amortised to the Profit and Loss Account annually over the useful economic life of the asset to which it relates. Revenue grants are credited to the Profit and Loss Account when received.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
       
3. Employees
 
The average monthly number of employees, including director, during the financial year was:
 
  2024 2023
  Number Number
 
Employees 2 2
  ═════════ ═════════
         
4. Tangible assets
  Plant and Fixtures, Total
  machinery fittings and  
    equipment  
  £ £ £
Cost
At 1 August 2023 604,293 2,462 606,755
Additions 344,254 1,840 346,094
Disposals (99,841) - (99,841)
  ───────── ───────── ─────────
At 31 July 2024 848,706 4,302 853,008
  ───────── ───────── ─────────
Depreciation
At 1 August 2023 212,933 1,105 214,038
Charge for the financial year 135,161 640 135,801
On disposals (40,033) - (40,033)
  ───────── ───────── ─────────
At 31 July 2024 308,061 1,745 309,806
  ───────── ───────── ─────────
Net book value
At 31 July 2024 540,645 2,557 543,202
  ═════════ ═════════ ═════════
At 31 July 2023 391,360 1,357 392,717
  ═════════ ═════════ ═════════
       
5. Stocks 2024 2023
  £ £
 
Finished goods and goods for resale 97,079 93,918
  ═════════ ═════════
 
The replacement cost of stock did not differ significantly from the figures shown.
       
6. Debtors 2024 2023
  £ £
 
Trade debtors - 21,320
  ═════════ ═════════
       
7. Creditors 2024 2023
Amounts falling due within one year £ £
 
Bank loan 7,140 6,966
Net obligations under finance leases
and hire purchase contracts - 13,716
Taxation  (Note 9) 26,052 16,809
Accruals 20,782 16,853
  ───────── ─────────
  53,974 54,344
  ═════════ ═════════
       
8. Creditors 2024 2023
Amounts falling due after more than one year £ £
 
Bank loan 5,537 12,646
Director's loan accounts 211,240 174,532
  ───────── ─────────
  216,777 187,178
  ═════════ ═════════
 
Loans
Repayable in one year or less, or on demand (Note 7) 7,140 6,966
Repayable between two and five years 5,537 12,646
  ───────── ─────────
  12,677 19,612
  ═════════ ═════════
 
       
9. Taxation 2024 2023
  £ £
 
Creditors:
VAT 26,052 16,808
Corporation tax - 1
  ───────── ─────────
  26,052 16,809
  ═════════ ═════════
           
10. Provisions for liabilities
 
The amounts provided for deferred taxation are analysed below:
 
  Capital Losses Total Total
  allowances      
         
      2024 2023
  £ £ £ £
 
At financial year start 64,434 (8,126) 56,308 37,219
Charged to profit and loss 38,775 2,847 41,622 19,089
  ───────── ───────── ───────── ─────────
At financial year end 103,209 (5,279) 97,930 56,308
  ═════════ ═════════ ═════════ ═════════
           
11. Related party transactions
 
At the start of the year Vogue Solutions Hire and Sales Limited owed the company director £174,532. During the year Vogue Solutions Hire and Sales Ltd borrowed £87,755 and repaid £51,047 to the director. At the end of the year, the director was owed £211,240 (2023: £174,532) from Vogue Solutions Hire and Sales Limited and this is included in the creditors section of the balance sheet.