14 false false false false false false false false false false true false false false false false false No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 638,853 224,943 31,932 256,875 381,978 413,910 xbrli:pure xbrli:shares iso4217:GBP 11063731 2023-04-01 2024-03-31 11063731 2024-03-31 11063731 2023-03-31 11063731 2022-04-01 2023-03-31 11063731 2023-03-31 11063731 2022-03-31 11063731 core:NetGoodwill 2023-04-01 2024-03-31 11063731 core:LandBuildings core:LongLeaseholdAssets 2023-04-01 2024-03-31 11063731 core:FurnitureFittings 2023-04-01 2024-03-31 11063731 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 11063731 bus:Director1 2023-04-01 2024-03-31 11063731 bus:Director2 2023-04-01 2024-03-31 11063731 core:NetGoodwill 2023-03-31 11063731 core:NetGoodwill 2024-03-31 11063731 core:LandBuildings core:LongLeaseholdAssets 2023-03-31 11063731 core:FurnitureFittings 2023-03-31 11063731 core:LandBuildings core:LongLeaseholdAssets 2024-03-31 11063731 core:FurnitureFittings 2024-03-31 11063731 core:WithinOneYear 2024-03-31 11063731 core:WithinOneYear 2023-03-31 11063731 core:AfterOneYear 2024-03-31 11063731 core:AfterOneYear 2023-03-31 11063731 core:ShareCapital 2024-03-31 11063731 core:ShareCapital 2023-03-31 11063731 core:RetainedEarningsAccumulatedLosses 2024-03-31 11063731 core:RetainedEarningsAccumulatedLosses 2023-03-31 11063731 core:BetweenOneFiveYears 2024-03-31 11063731 core:BetweenOneFiveYears 2023-03-31 11063731 core:MoreThanFiveYears 2024-03-31 11063731 core:MoreThanFiveYears 2023-03-31 11063731 core:NetGoodwill 2023-03-31 11063731 core:LandBuildings core:LongLeaseholdAssets 2023-03-31 11063731 core:FurnitureFittings 2023-03-31 11063731 bus:SmallEntities 2023-04-01 2024-03-31 11063731 bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 11063731 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 11063731 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 11063731 bus:FullAccounts 2023-04-01 2024-03-31 11063731 bus:OrdinaryShareClass1 2024-03-31 11063731 bus:OrdinaryShareClass1 2023-03-31 11063731 core:ComputerEquipment 2023-04-01 2024-03-31 11063731 core:ComputerEquipment 2023-03-31 11063731 core:ComputerEquipment 2024-03-31
COMPANY REGISTRATION NUMBER: 11063731
VINEYARD ACCOUNTANTS LTD
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 March 2024
VINEYARD ACCOUNTANTS LTD
STATEMENT OF FINANCIAL POSITION
31 March 2024
2024
2023
Note
£
£
Fixed assets
Intangible assets
5
381,978
413,910
Tangible assets
6
1,479
2,405
---------
---------
383,457
416,315
Current assets
Stocks
125,770
110,350
Debtors
7
145,135
134,976
Cash at bank and in hand
171,798
176,079
---------
---------
442,703
421,405
Creditors: amounts falling due within one year
8
304,057
320,118
---------
---------
Net current assets
138,646
101,287
---------
---------
Total assets less current liabilities
522,103
517,602
Creditors: amounts falling due after more than one year
9
287,993
315,187
Provisions
104
277
---------
---------
Net assets
234,006
202,138
---------
---------
Capital and reserves
Called up share capital
10
100
100
Profit and loss account
233,906
202,038
---------
---------
Shareholders funds
234,006
202,138
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
VINEYARD ACCOUNTANTS LTD
STATEMENT OF FINANCIAL POSITION (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 14 October 2024 , and are signed on behalf of the board by:
Mrs H C Gee
Mr A N Poyton
Director
Director
Company registration number: 11063731
VINEYARD ACCOUNTANTS LTD
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 5 The Chambers, Vineyard, Abingdon-on-Thames.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, exclusive of Value Added Tax.
Taxation
Tax on income represents the sum of tax currently payable and deferred tax. The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the note to the accounts because of items of that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using the tax rates that have been enacted or subsequently enacted by the end of the accounting period. Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when timing differences reverse, based on current tax rates and laws.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life.
Amortisation
Amortisation is calculated so as to write off the cost of an asset over the useful economic life of that asset as follows:
Goodwill
-
5% straight line
If there is an indication that there has been a significant change in amortisation rate or useful life the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Long leasehold property
-
25% straight line
Fixtures and fittings
-
20% straight line
Computer equipment
-
33% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stock comprises of work in progress and is measured at the lower of cost and estimated future fee income, less costs to complete the service. Costs includes staff salaries, employment expenses and all direct costs and expenses incurred in performing the service for the client to its present condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 14 (2023: 13 ).
5. Intangible assets
Goodwill
£
Cost
At 1 April 2023 and 31 March 2024
638,853
---------
Amortisation
At 1 April 2023
224,943
Charge for the year
31,932
---------
At 31 March 2024
256,875
---------
Carrying amount
At 31 March 2024
381,978
---------
At 31 March 2023
413,910
---------
6. Tangible assets
Leasehold property
Fixtures and fittings
Computer equipment
Total
£
£
£
£
Cost
At 1 April 2023
6,888
4,933
41,492
53,313
Additions
936
936
Disposals
( 471)
( 471)
-------
-------
--------
--------
At 31 March 2024
6,888
5,869
41,021
53,778
-------
-------
--------
--------
Depreciation
At 1 April 2023
6,887
4,929
39,092
50,908
Charge for the year
140
1,722
1,862
Disposals
( 471)
( 471)
-------
-------
--------
--------
At 31 March 2024
6,887
5,069
40,343
52,299
-------
-------
--------
--------
Carrying amount
At 31 March 2024
1
800
678
1,479
-------
-------
--------
--------
At 31 March 2023
1
4
2,400
2,405
-------
-------
--------
--------
7. Debtors
2024
2023
£
£
Trade debtors
76,260
54,793
Other debtors
68,875
80,183
---------
---------
145,135
134,976
---------
---------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
26,866
39,062
Corporation tax
78,762
52,138
Social security and other taxes
71,215
60,709
Other creditors
127,214
168,209
---------
---------
304,057
320,118
---------
---------
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
287,993
315,187
---------
---------
10. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
----
----
----
----
11. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2024
2023
£
£
Not later than 1 year
25,300
25,300
Later than 1 year and not later than 5 years
101,200
101,200
Later than 5 years
65,358
90,658
---------
---------
191,858
217,158
---------
---------