Silverfin false false 29/02/2024 01/03/2023 29/02/2024 Ms C Keers 01/02/2022 Mr M Stansfeld 01/02/2022 25 November 2024 The principal activity of the Company during the financial year was to provide areas for office working. 13885567 2024-02-29 13885567 bus:Director1 2024-02-29 13885567 bus:Director2 2024-02-29 13885567 2023-02-28 13885567 core:CurrentFinancialInstruments 2024-02-29 13885567 core:CurrentFinancialInstruments 2023-02-28 13885567 core:ShareCapital 2024-02-29 13885567 core:ShareCapital 2023-02-28 13885567 core:RetainedEarningsAccumulatedLosses 2024-02-29 13885567 core:RetainedEarningsAccumulatedLosses 2023-02-28 13885567 core:LeaseholdImprovements 2023-02-28 13885567 core:OfficeEquipment 2023-02-28 13885567 core:LeaseholdImprovements 2024-02-29 13885567 core:OfficeEquipment 2024-02-29 13885567 core:RemainingRelatedParties core:CurrentFinancialInstruments 2024-02-29 13885567 core:RemainingRelatedParties core:CurrentFinancialInstruments 2023-02-28 13885567 2022-01-31 13885567 bus:OrdinaryShareClass1 2024-02-29 13885567 bus:OrdinaryShareClass2 2024-02-29 13885567 2023-03-01 2024-02-29 13885567 bus:FilletedAccounts 2023-03-01 2024-02-29 13885567 bus:SmallEntities 2023-03-01 2024-02-29 13885567 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 13885567 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 13885567 bus:Director1 2023-03-01 2024-02-29 13885567 bus:Director2 2023-03-01 2024-02-29 13885567 core:LeaseholdImprovements core:TopRangeValue 2023-03-01 2024-02-29 13885567 core:OfficeEquipment core:TopRangeValue 2023-03-01 2024-02-29 13885567 2022-02-01 2023-02-28 13885567 core:LeaseholdImprovements 2023-03-01 2024-02-29 13885567 core:OfficeEquipment 2023-03-01 2024-02-29 13885567 bus:OrdinaryShareClass1 2023-03-01 2024-02-29 13885567 bus:OrdinaryShareClass1 2022-02-01 2023-02-28 13885567 bus:OrdinaryShareClass2 2023-03-01 2024-02-29 13885567 bus:OrdinaryShareClass2 2022-02-01 2023-02-28 iso4217:GBP xbrli:pure xbrli:shares

Company No: 13885567 (England and Wales)

VINEGAR WORKS LIMITED

Unaudited Financial Statements
For the financial year ended 29 February 2024
Pages for filing with the registrar

VINEGAR WORKS LIMITED

Unaudited Financial Statements

For the financial year ended 29 February 2024

Contents

VINEGAR WORKS LIMITED

STATEMENT OF FINANCIAL POSITION

As at 29 February 2024
VINEGAR WORKS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 29 February 2024
Note 29.02.2024 28.02.2023
£ £
Fixed assets
Tangible assets 3 1,021,305 5,711
1,021,305 5,711
Current assets
Debtors 4 36,776 3,508
Cash at bank and in hand 2,245 1,570
39,021 5,078
Creditors: amounts falling due within one year 5 ( 1,144,049) ( 15,329)
Net current liabilities (1,105,028) (10,251)
Total assets less current liabilities (83,723) (4,540)
Net liabilities ( 83,723) ( 4,540)
Capital and reserves
Called-up share capital 7 100 100
Profit and loss account ( 83,823 ) ( 4,640 )
Total shareholders' deficit ( 83,723) ( 4,540)

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.

Directors' responsibilities:

The financial statements of Vinegar Works Limited (registered number: 13885567) were approved and authorised for issue by the Board of Directors on 25 November 2024. They were signed on its behalf by:

Mr M Stansfeld
Director
VINEGAR WORKS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 29 February 2024
VINEGAR WORKS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 29 February 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

Vinegar Works Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 1-3 College Yard, Worcester, WR1 2LB, United Kingdom, and the companies place of business is Foregate Street, Worcester, WR1 1DJ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
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's financial statements. 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 the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Leasehold improvements 10 years straight line
Office equipment 4 years straight line
Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

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.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

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.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

Year ended
29.02.2024
Period from
01.02.2022 to
28.02.2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Leasehold improve-
ments
Office equipment Total
£ £ £
Cost
At 01 March 2023 0 5,833 5,833
Additions 1,061,196 39,775 1,100,971
At 29 February 2024 1,061,196 45,608 1,106,804
Accumulated depreciation
At 01 March 2023 0 122 122
Charge for the financial year 79,590 5,787 85,377
At 29 February 2024 79,590 5,909 85,499
Net book value
At 29 February 2024 981,606 39,699 1,021,305
At 28 February 2023 0 5,711 5,711

4. Debtors

29.02.2024 28.02.2023
£ £
Trade debtors 4,805 0
Prepayments 5,375 0
Deferred tax asset 26,596 2,130
VAT recoverable 0 1,378
36,776 3,508

5. Creditors: amounts falling due within one year

29.02.2024 28.02.2023
£ £
Trade creditors 3,739 4
Amounts owed to related parties 1,125,440 3,990
Amounts owed to directors 10,094 8,898
Accruals 2,935 2,437
Other taxation and social security 1,841 0
1,144,049 15,329

6. Deferred tax

29.02.2024 28.02.2023
£ £
At the beginning of financial year/period 2,130 0
Credited to the Statement of Income and Retained Earnings 24,466 2,130
At the end of financial year/period 26,596 2,130

7. Called-up share capital

29.02.2024 28.02.2023
£ £
Allotted, called-up and fully-paid
50 A ordinary shares of £ 1.00 each 50 50
50 B ordinary shares of £ 1.00 each 50 50
100 100

8. Related party transactions

Transactions with the entity's directors

29.02.2024 28.02.2023
£ £
Balance from the directors included in Debtors 1,550 0
Balance due to the directors included in Creditors 11,644 8,898

The directors had advances of £2,500 and personal spend/invoices of £1,304. The accounts do not bear any interest.

Other related party transactions

29.02.2024 28.02.2023
£ £
Due to related parties - in Creditors 1,125,440 3,990

The related parties are companies owned by the directors.