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REGISTERED NUMBER: 04616047 (England and Wales)










Vine St Development Ltd

Unaudited Financial Statements

for the Year Ended 31 March 2024






Vine St Development Ltd (Registered number: 04616047)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Vine St Development Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTOR: Mr J Kamali





REGISTERED OFFICE: 43 Bury New Road
Prestwich
England
M25 9JY





REGISTERED NUMBER: 04616047 (England and Wales)






Vine St Development Ltd (Registered number: 04616047)

Balance Sheet
31 March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 5 573 710
Investment property 6 1,604,766 1,604,766
1,605,339 1,605,476

CURRENT ASSETS
Debtors 7 - 319
Cash at bank 23,712 34,364
23,712 34,683
CREDITORS
Amounts falling due within one year 8 (2,195,035 ) (2,241,725 )
NET CURRENT LIABILITIES (2,171,323 ) (2,207,042 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(565,984

)

(601,566

)

CREDITORS
Amounts falling due after more than one year 9 (5,833 ) (10,833 )

PROVISIONS FOR LIABILITIES (41,868 ) (41,868 )
NET LIABILITIES (613,685 ) (654,267 )

CAPITAL AND RESERVES
Called up share capital 10 40 40
Other reserves 178,491 178,491
Retained earnings (792,216 ) (832,798 )
SHAREHOLDERS' FUNDS (613,685 ) (654,267 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each 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.

Vine St Development Ltd (Registered number: 04616047)

Balance Sheet - continued
31 March 2024


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 Profit and Loss Account has not been delivered.

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





Mr J Kamali - Director


Vine St Development Ltd (Registered number: 04616047)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. GENERAL INFORMATION

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
43 Bury New Road
Prestwich
M25 9JY

2. 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).

3. 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.

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 company's liabilities exceeded its assets as at the year end. These financial statements have been prepared on a going concern basis on the basis that the company will continue to be supported by its director and creditors.

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.

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:

Asset class Depreciation method and rate
Fixtures and fittings 15% reducing balance
Office equipment 20% reducing balance

Vine St Development Ltd (Registered number: 04616047)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

3. ACCOUNTING POLICIES - continued

INVESTMENT PROPERTY
Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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.

TRADE DEBTORS
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

TRADE CREDITORS
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

BORROWINGS
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

Vine St Development Ltd (Registered number: 04616047)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. TANGIBLE FIXED ASSETS
Fixtures
and Office
fittings equipment Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 1,389 2,283 3,672
DEPRECIATION
At 1 April 2023 1,297 1,665 2,962
Charge for year 14 123 137
At 31 March 2024 1,311 1,788 3,099
NET BOOK VALUE
At 31 March 2024 78 495 573
At 31 March 2023 92 618 710

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 1,604,766
NET BOOK VALUE
At 31 March 2024 1,604,766
At 31 March 2023 1,604,766

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors - Gefen Management - 319

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 1,043,500 1,043,500
Owed by/(from) participating interests-The
Residences (lvy Homes) Ltd

322,569

322,569
SCB creditor - 2,876
Directors' current accounts 817,902 862,784
Accruals 11,064 9,996
2,195,035 2,241,725

Vine St Development Ltd (Registered number: 04616047)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Santander BBL 1 (1-2 yrs) 5,833 10,833

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
40 Ordinary Share 1 40 40