Registered number
05752335
VITRINE LIMITED
Filleted Accounts
31 March 2024
VITRINE LIMITED
Registered number: 05752335
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 94,504 146,926
Current assets
Stocks 3,791 3,305
Debtors 4 3,553 25,083
Cash at bank and in hand 64,994 91,224
72,338 119,612
Creditors: amounts falling due within one year 5 (29,352) (35,757)
Net current assets 42,986 83,855
Total assets less current liabilities 137,490 230,781
Creditors: amounts falling due after more than one year 6 (17,663) (72,548)
Net assets 119,827 158,233
Capital and reserves
Called up share capital 100 100
Profit and loss account 119,727 158,133
Shareholders' funds 119,827 158,233
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Ahmet YENER
Director
Approved by the board on 27 November 2024
VITRINE LIMITED
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment 18% Reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A corporation tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A corporation tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Corporation tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 15 15
3 Tangible fixed assets
Fix, fittings
&
equipment
Motor vehicles Total
£ £ £
Cost
At 1 April 2023 354,825 44,113 398,938
Additions 1,332 - 1,332
Disposals - (44,113) (44,113)
At 31 March 2024 356,157 - 356,157
Depreciation
At 1 April 2023 240,816 11,196 252,012
Charge for the year 20,837 - 20,837
On disposals - (11,196) (11,196)
At 31 March 2024 261,653 - 261,653
Net book value
At 31 March 2024 94,504 - 94,504
At 31 March 2023 114,009 32,917 146,926
4 Debtors 2024 2023
£ £
Prepayments & other debtors 3,553 25,083
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 685 3,528
Obligations under finance lease and hire purchase contracts - 7,441
Trade creditors 8,581 30,209
Taxation and social security costs 20,086 1,827
Other creditors - (7,248)
29,352 35,757
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 17,663 42,949
Obligations under finance lease and hire purchase contracts - 29,599
17,663 72,548
7 Other information
VITRINE LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
8 Lothair Road South
London
N4 1EL
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