Registered number
06203052
Vinny Enterprises Ltd
Filleted Accounts
30 April 2024
Vinny Enterprises Ltd
Registered number: 06203052
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 1,084 3,497
Tangible assets 4 436,183 561,497
437,267 564,994
Current assets
Stocks 4,374 8,000
Debtors 5 85,294 227,964
Cash at bank and in hand 7,779 30,037
97,447 266,001
Creditors: amounts falling due within one year 6 (331,213) (339,403)
Net current liabilities (233,766) (73,402)
Total assets less current liabilities 203,501 491,592
Creditors: amounts falling due after more than one year 7 (92,054) (226,361)
Net assets 111,447 265,231
Capital and reserves
Called up share capital 175 175
Share premium 17,235 17,235
Profit and loss account 94,037 247,821
Shareholders' funds 111,447 265,231
The director is 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 director acknowledges his 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 Vinesh Patel
Director
Approved by the board on 20 January 2025
Vinny Enterprises Ltd
Notes to the Accounts
for the year ended 30 April 2024
1 Accounting policies
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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, other than freehold land, 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 - Cat 1 over 20 years
Fixtures, fittings, tools and equipment - Cat 2 over 10 years
Vehicles over 5 years
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. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, 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 current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 11 17
3 Intangible fixed assets £
Goodwill:
Cost
At 1 May 2023 80,515
Disposals (4,400)
At 30 April 2024 76,115
Amortisation
At 1 May 2023 77,018
Provided during the year 213
On disposals (2,200)
At 30 April 2024 75,031
Net book value
At 30 April 2024 1,084
At 30 April 2023 3,497
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 May 2023 132,073 844,971 35,885 1,012,929
Disposals (61,517) (57,380) - (118,897)
At 30 April 2024 70,556 787,591 35,885 894,032
Depreciation
At 1 May 2023 95,306 332,238 23,888 451,432
Charge for the year 5,427 54,346 3,000 62,773
On disposals (35,491) (20,865) - (56,356)
At 30 April 2024 65,242 365,719 26,888 457,849
Net book value
At 30 April 2024 5,314 421,872 8,997 436,183
At 30 April 2023 36,767 512,733 11,997 561,497
5 Debtors 2024 2023
£ £
Trade debtors 3,214 13,579
Amounts owed by group undertakings and undertakings in which the company has a participating interest 75,573 214,327
Other debtors 6,507 58
85,294 227,964
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 37,300 -
Trade creditors 74,150 84,007
Taxation and social security costs 237,458 236,984
Other creditors (17,695) 18,412
331,213 339,403
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 74,600 212,054
Other creditors 17,454 14,307
92,054 226,361
8 Other information
Vinny Enterprises Ltd is a private company limited by shares and incorporated in England. Its registered office is:
56 Leman Street
London
E1 8EU
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