Vinaan Group Ltd NI685580 false 2023-03-01 2024-02-29 2024-02-29 The principal activity of the company is sport equipment retailer Digita Accounts Production Advanced 6.30.9574.0 true true NI685580 2023-03-01 2024-02-29 NI685580 2024-02-29 NI685580 bus:OrdinaryShareClass1 2024-02-29 NI685580 bus:OrdinaryShareClass2 2024-02-29 NI685580 bus:OrdinaryShareClass3 2024-02-29 NI685580 bus:OrdinaryShareClass4 2024-02-29 NI685580 bus:OrdinaryShareClass5 2024-02-29 NI685580 core:CurrentFinancialInstruments 2024-02-29 NI685580 core:CurrentFinancialInstruments core:WithinOneYear 2024-02-29 NI685580 core:MotorVehicles 2024-02-29 NI685580 core:OtherPropertyPlantEquipment 2024-02-29 NI685580 bus:SmallEntities 2023-03-01 2024-02-29 NI685580 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 NI685580 bus:FilletedAccounts 2023-03-01 2024-02-29 NI685580 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 NI685580 bus:RegisteredOffice 2023-03-01 2024-02-29 NI685580 bus:Director1 2023-03-01 2024-02-29 NI685580 bus:OrdinaryShareClass1 2023-03-01 2024-02-29 NI685580 bus:OrdinaryShareClass2 2023-03-01 2024-02-29 NI685580 bus:OrdinaryShareClass3 2023-03-01 2024-02-29 NI685580 bus:OrdinaryShareClass4 2023-03-01 2024-02-29 NI685580 bus:OrdinaryShareClass5 2023-03-01 2024-02-29 NI685580 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 NI685580 core:MotorVehicles 2023-03-01 2024-02-29 NI685580 core:OtherPropertyPlantEquipment 2023-03-01 2024-02-29 NI685580 countries:NorthernIreland 2023-03-01 2024-02-29 NI685580 2023-02-28 NI685580 core:MotorVehicles 2023-02-28 NI685580 core:OtherPropertyPlantEquipment 2023-02-28 NI685580 2022-02-07 2023-02-28 NI685580 2023-02-28 NI685580 bus:OrdinaryShareClass1 2023-02-28 NI685580 bus:OrdinaryShareClass2 2023-02-28 NI685580 bus:OrdinaryShareClass3 2023-02-28 NI685580 bus:OrdinaryShareClass4 2023-02-28 NI685580 bus:OrdinaryShareClass5 2023-02-28 NI685580 core:CurrentFinancialInstruments 2023-02-28 NI685580 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 NI685580 core:MotorVehicles 2023-02-28 NI685580 core:OtherPropertyPlantEquipment 2023-02-28 iso4217:GBP xbrli:pure xbrli:shares

Registration number: NI685580

Vinaan Group Ltd

trading as Outdoor Life

Unaudited Filleted Financial Statements

for the Year Ended 29 February 2024

 

Vinaan Group Ltd

trading as Outdoor Life

(Registration number: NI685580)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

5,425

6,780

Current assets

 

Stocks

5

129,388

131,399

Debtors

6

-

19

Cash at bank and in hand

 

28,613

12,158

 

158,001

143,576

Creditors: Amounts falling due within one year

7

(134,601)

(139,409)

Net current assets

 

23,400

4,167

Total assets less current liabilities

 

28,825

10,947

Provisions for liabilities

(1,031)

(1,288)

Net assets

 

27,794

9,659

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

27,694

9,559

Shareholders' funds

 

27,794

9,659

For the financial year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Vinaan Group Ltd

trading as Outdoor Life

(Registration number: NI685580)
Balance Sheet as at 29 February 2024

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 16 October 2024
 

.........................................
Mrs Michelle McGregor
Director

 

Vinaan Group Ltd

trading as Outdoor Life

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

1

General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is: 2D Seymour Street, Ballymoney, Co. Antrim, BT53 6JR.

These financial statements were authorised for issue by the director on 16 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Vinaan Group Ltd

trading as Outdoor Life

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Short-term debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in operating expenses.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Vinaan Group Ltd

trading as Outdoor Life

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 4 (2023 - 4).

4

Tangible assets

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 March 2023

1,398

7,077

8,475

At 29 February 2024

1,398

7,077

8,475

Depreciation

At 1 March 2023

280

1,415

1,695

Charge for the year

224

1,131

1,355

At 29 February 2024

504

2,546

3,050

Carrying amount

At 29 February 2024

894

4,531

5,425

At 28 February 2023

1,118

5,662

6,780

 

Vinaan Group Ltd

trading as Outdoor Life

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

5

Stocks

2024
£

2023
£

Other inventories

129,388

131,399

6

Debtors

Current

2024
£

2023
£

Trade debtors

-

11

Other debtors

-

8

 

-

19

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

3,279

3,279

Taxation and social security

8,632

5,848

Accruals and deferred income

7,326

5,095

Other creditors

115,364

125,187

134,601

139,409

 

Vinaan Group Ltd

trading as Outdoor Life

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary A shares of £1 each

80

80

80

80

Ordinary B shares of £1 each

5

5

5

5

Ordinary C shares of £1 each

5

5

5

5

Ordinary D shares of £1 each

5

5

5

5

Ordinary E shares of £1 each

5

5

5

5

100

100

100

100

9

Related party transactions

2024
£

2023
£

Directors current account

(115,364)

(125,187)