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Registered number: 01813785
Vinyline Limited
Unaudited Financial Statements
For The Year Ended 29 February 2024
CMA Accountancy Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 01813785
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 353,392 265,000
353,392 265,000
CURRENT ASSETS
Stocks 5 45,000 56,178
Debtors 6 367,729 358,869
Cash at bank and in hand 35,557 61,271
448,286 476,318
Creditors: Amounts Falling Due Within One Year 7 (522,341 ) (461,671 )
NET CURRENT ASSETS (LIABILITIES) (74,055 ) 14,647
TOTAL ASSETS LESS CURRENT LIABILITIES 279,337 279,647
Creditors: Amounts Falling Due After More Than One Year 8 (172,251 ) (231,765 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (100,628 ) (42,502 )
NET ASSETS 6,458 5,380
CAPITAL AND RESERVES
Called up share capital 10 50 50
Other reserves (124,950 ) (124,950 )
Profit and Loss Account 131,358 130,280
SHAREHOLDERS' FUNDS 6,458 5,380
Page 1
Page 2
For the 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.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Keith Hughes
Director
28/11/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Vinyline Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01813785 . The registered office is Unit 4b Delph Court, Sullivas Way, St Helens, Merseyside, WA9 5GL.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% Reducing Balance
Motor Vehicles 25% Reducing Balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 25 (2023: 24)
25 24
4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 March 2023 829,090 117,045 946,135
Additions 120,826 78,977 199,803
Disposals - (43,995 ) (43,995 )
As at 29 February 2024 949,916 152,027 1,101,943
Depreciation
As at 1 March 2023 592,170 88,965 681,135
Provided during the period 86,920 14,593 101,513
Disposals - (34,097 ) (34,097 )
As at 29 February 2024 679,090 69,461 748,551
Net Book Value
As at 29 February 2024 270,826 82,566 353,392
As at 1 March 2023 236,920 28,080 265,000
5. Stocks
2024 2023
£ £
Stock 45,000 56,178
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Page 5
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 367,729 358,869
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 105,397 59,450
Trade creditors 116,804 113,544
Bank loans and overdrafts 70,360 57,313
Other creditors 120,281 126,572
Taxation and social security 109,499 104,792
522,341 461,671
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 143,549 126,265
Bank loans 28,702 105,500
172,251 231,765
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 105,397 59,450
Later than one year and not later than five years 143,549 126,265
248,946 185,715
248,946 185,715
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 50 50
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