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COMPANY REGISTRATION NUMBER: 14970214
Vine Kenwood Developments Limited
Filleted Financial Statements
31 March 2024
Vine Kenwood Developments Limited
Financial Statements
Period from 29 June 2023 to 31 March 2024
Contents
Pages
Statement of financial position
1
Notes to the financial statements
2 to 3
Vine Kenwood Developments Limited
Statement of Financial Position
31 March 2024
31 Mar 24
Note
£
Current assets
Debtors
4
45,057
Creditors: amounts falling due within one year
5
296,971
---------
Net current liabilities
251,914
---------
Total assets less current liabilities
( 251,914)
---------
Net liabilities
( 251,914)
---------
Capital and reserves
Called up share capital
100
Profit and loss account
( 252,014)
---------
Shareholders deficit
( 251,914)
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements were approved by the board of directors and authorised for issue on 2 December 2024 , and are signed on behalf of the board by:
Mr G J Davies
Director
Company registration number: 14970214
Vine Kenwood Developments Limited
Notes to the Financial Statements
Period from 29 June 2023 to 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is C/O Director of Finance, Mosborough Hall Hotel, High Street, Mosborough, Sheffield, S20 5EA, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Development costs
Pre-development costs incurred by the company have been charged as expenses in the period, given that they relate to professional fees incurred in anticipation of the proposed development plan. Ultimately, once the development project progresses to the construction phase, these sunk costs may be re-assessed and charged as against development proceeds when these are more certain in terms of quantum.
Going concern
Given the fact that the company was incorporated during the period and has, since formation, incurred pre development project costs, the closing Statement of Financial Position reflects a net current and net total, liability position. Despite this, the accounts have been prepared on a going concern basis, this based on the underlying business plan being to incur such pre development costs and with the financial support of related group company funding, which funding is not expected to be withdrawn in the foreseeable future and with further funding to be put in place to continue the development plans.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. Its financial statements are consolidated into the financial statements of Vine Kenwood Limited which can be obtained from Companies House. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) No cash flow statement has been presented for the company.
4. Debtors
31 Mar 24
£
Other debtors
45,057
--------
5. Creditors: amounts falling due within one year
31 Mar 24
£
Trade creditors
148,280
Amounts owed to group undertakings and undertakings in which the company has a participating interest
147,191
Other creditors
1,500
---------
296,971
---------
Within the above trade creditors, a total of £141,582 is in respect of group related companies.
6. Summary audit opinion
The auditor's report dated 3 December 2024 was unqualified .
The senior statutory auditor was Andrew Throssell FCA , for and on behalf of Hebblethwaites .
7. Related party transactions
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102, not to disclose related party transactions with fellow 100% group companies.
8. Controlling party
The entire share capital of the company is owned by Venice Regal Sheffield Ltd, whose ultimate parent company is Vine Kenwood Limited. These companies share the same registered address and Vine Kenwood Limited will be preparing consolidated group accounts.