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REGISTERED NUMBER: 04067913 (England and Wales)


























Financial Statements

for the Year Ended 29 February 2024

for

Vinyl Factory Manufacturing Limited

Vinyl Factory Manufacturing Limited (Registered number: 04067913)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Vinyl Factory Manufacturing Limited

Company Information
for the Year Ended 29 February 2024







DIRECTOR: T J Robinson





SECRETARY: Camamile Limited





REGISTERED OFFICE: 15 Newland
Lincoln
Lincolnshire
LN1 1XG





REGISTERED NUMBER: 04067913 (England and Wales)





AUDITORS: Wright Vigar Limited
Statutory Auditors
Chartered Accountants & Business Advisers
15 Newland
Lincoln
Lincolnshire
LN1 1XG

Vinyl Factory Manufacturing Limited (Registered number: 04067913)

Balance Sheet
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 810,274 768,452

CURRENT ASSETS
Stocks 238,560 408,711
Debtors 5 286,500 566,133
Cash at bank 92,714 47,744
617,774 1,022,588
CREDITORS
Amounts falling due within one year 6 1,969,259 2,116,591
NET CURRENT LIABILITIES (1,351,485 ) (1,094,003 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(541,211

)

(325,551

)

CREDITORS
Amounts falling due after more than one
year

7

(16,514

)

(26,612

)

PROVISIONS FOR LIABILITIES (116,875 ) (135,451 )
NET LIABILITIES (674,600 ) (487,614 )

CAPITAL AND RESERVES
Called up share capital 9 18,001 18,001
Retained earnings 10 (692,601 ) (505,615 )
SHAREHOLDERS' FUNDS (674,600 ) (487,614 )

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 November 2024 and were signed by:





T J Robinson - Director


Vinyl Factory Manufacturing Limited (Registered number: 04067913)

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

1. STATUTORY INFORMATION

Vinyl Factory Manufacturing Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The accounts are prepared on a going concern basis due to the agreement of the director together with the Vinyl Factory Limited, the parent company of the group, to continue to support the Company. If this support was not to continue then the basis may not be appropriate.

Should the Company then not be able to continue trading, adjustments to the value of assets would be needed to provide for any further liabilities which may arise and to reclassify fixed assets and long term liabilities as current assets and liabilities.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue is recognised on the completion of an order.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to leasehold property - Over the period of the lease
Plant and machinery - 33% on cost, 25% on cost and 10% on cost
Furniture & office equipment - 16% - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Vinyl Factory Manufacturing Limited (Registered number: 04067913)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 29 (2023 - 31 ) .

4. TANGIBLE FIXED ASSETS
Improvements
to Furniture
leasehold Plant and & office
property machinery equipment Totals
£    £    £    £   
COST
At 1 March 2023 580,432 1,444,447 132,921 2,157,800
Additions 60,342 106,692 7,302 174,336
At 29 February 2024 640,774 1,551,139 140,223 2,332,136
DEPRECIATION
At 1 March 2023 312,400 966,961 109,987 1,389,348
Charge for year 40,982 80,745 10,787 132,514
At 29 February 2024 353,382 1,047,706 120,774 1,521,862
NET BOOK VALUE
At 29 February 2024 287,392 503,433 19,449 810,274
At 28 February 2023 268,032 477,486 22,934 768,452

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 191,256 481,276
Amounts owed by group undertakings 55,558 49,618
Other debtors 39,686 35,239
286,500 566,133

Vinyl Factory Manufacturing Limited (Registered number: 04067913)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,838 10,991
Trade creditors 267,446 355,621
Amounts owed to group undertakings 1,099,710 1,149,710
Taxation and social security 15,170 40,378
Other creditors 576,095 559,891
1,969,259 2,116,591

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 16,514 26,612

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 31,500 31,500
Between one and five years 65,625 97,125
97,125 128,625

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
18,001 Ordinary £1 18,001 18,001

10. RESERVES
Retained
earnings
£   

At 1 March 2023 (505,615 )
Deficit for the year (186,986 )
At 29 February 2024 (692,601 )

11. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Paul Colcomb FCCA (Senior Statutory Auditor)
for and on behalf of Wright Vigar Limited

12. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

During the year purchases of £24,151 have been made from key management personnel, with the outstanding creditor still due at year end being £76.

Vinyl Factory Manufacturing Limited (Registered number: 04067913)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

13. CONTROLLING PARTY

The company's parent undertaking is The Vinyl Factory Limited. The registered office of the parent undertaking is 15 Newland, Lincoln, Lincolnshire, LN1 1XG. The principle place of business is 16-18 Marshall Street, London, W1F 7BE.