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Company No: 07951981 (England and Wales)

LE VIGNOBLE LTD

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

LE VIGNOBLE LTD

Unaudited Financial Statements

For the financial year ended 29 February 2024

Contents

LE VIGNOBLE LTD

BALANCE SHEET

As at 29 February 2024
LE VIGNOBLE LTD

BALANCE SHEET (continued)

As at 29 February 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 50,349 25,558
50,349 25,558
Current assets
Stocks 148,764 160,271
Debtors
- due within one year 4 9,679 98,868
- due after more than one year 4 110,927 0
Cash at bank and in hand 2,594 4,859
271,964 263,998
Creditors: amounts falling due within one year 5 ( 39,432) ( 43,793)
Net current assets 232,532 220,205
Total assets less current liabilities 282,881 245,763
Creditors: amounts falling due after more than one year 6 ( 207,442) ( 150,522)
Provision for liabilities ( 7,892) ( 3,685)
Net assets 67,547 91,556
Capital and reserves
Called-up share capital 7 100 100
Profit and loss account 67,447 91,456
Total shareholders' funds 67,547 91,556

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 financial statements of Le Vignoble Ltd (registered number: 07951981) were approved and authorised for issue by the Director on 29 November 2024. They were signed on its behalf by:

Mr Y Loue
Director
LE VIGNOBLE LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 29 February 2024
LE VIGNOBLE LTD

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 year, unless otherwise stated.

General information and basis of accounting

Le Vignoble Ltd (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 New Cooperage, Royal William Yard, Plymouth, PL1 3RP, 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 £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

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 Balance Sheet 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 tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Leasehold improvements 15 years straight line
Plant and machinery 20 % reducing balance
Vehicles 25 % reducing balance
Fixtures and fittings 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 7 7

3. Tangible assets

Leasehold improve-
ments
Plant and machinery Vehicles Fixtures and fittings Total
£ £ £ £ £
Cost
At 01 March 2023 13,037 65,940 0 77,983 156,960
Additions 0 0 32,022 0 32,022
At 29 February 2024 13,037 65,940 32,022 77,983 188,982
Accumulated depreciation
At 01 March 2023 9,395 54,027 0 67,980 131,402
Charge for the financial year 868 2,383 1,979 2,001 7,231
At 29 February 2024 10,263 56,410 1,979 69,981 138,633
Net book value
At 29 February 2024 2,774 9,530 30,043 8,002 50,349
At 28 February 2023 3,642 11,913 0 10,003 25,558

4. Debtors

2024 2023
£ £
Debtors: amounts falling due within one year
Trade debtors 0 51
Amounts owed by Group undertakings 0 88,588
Other debtors 9,679 10,229
9,679 98,868
Debtors: amounts falling due after more than one year
Amounts owed by Group undertakings 110,927 0

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 6,110 5,959
Trade creditors 15,277 11,528
Taxation and social security 3,083 18,204
Obligations under finance leases and hire purchase contracts 7,133 0
Other creditors 7,829 8,102
39,432 43,793

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 7,855 13,964
Obligations under finance leases and hire purchase contracts 23,245 0
Other creditors 176,342 136,558
207,442 150,522

The hire purchase finance taken out during the year is secured against the asset hired. Other than this there are no amounts included above in respect of which any security has been given by the small entity.

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
51 Ordinary A shares of £ 1.00 each 51 51
44 Ordinary B shares of £ 1.00 each 44 44
5 Ordinary C shares of £ 1.00 each 5 5
100 100