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Company No: 09907897 (England and Wales)

VIN-EXCHANGE GROUP LIMITED

Unaudited Financial Statements
For the financial year ended 30 June 2024
Pages for filing with the registrar

VIN-EXCHANGE GROUP LIMITED

Unaudited Financial Statements

For the financial year ended 30 June 2024

Contents

VIN-EXCHANGE GROUP LIMITED

STATEMENT OF FINANCIAL POSITION

As at 30 June 2024
VIN-EXCHANGE GROUP LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 June 2024
Note 2024 2023
£ £
Fixed assets
Investments 3 300 300
300 300
Current assets
Debtors 4 5,388 5,364
Cash at bank and in hand 500 330
5,888 5,694
Creditors: amounts falling due within one year 5 ( 36,974) ( 35,356)
Net current liabilities (31,086) (29,662)
Total assets less current liabilities (30,786) (29,362)
Net liabilities ( 30,786) ( 29,362)
Capital and reserves
Called-up share capital 100 100
Profit and loss account ( 30,886 ) ( 29,462 )
Total shareholder's deficit ( 30,786) ( 29,362)

For the financial year ending 30 June 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Vin-Exchange Group Limited (registered number: 09907897) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

D J Hornabrook
Director

18 March 2025

VIN-EXCHANGE GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
VIN-EXCHANGE GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 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

Vin-Exchange Group Limited (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 88 155/88 Lower Marsh Road, London, SE1 7AB, 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 £.

Going concern

After having paid particular attention to a period of at last one year from the data of approval of the financial statements the director considers the company is able to continue in operational existence for the foreseeable future and is confident the company will meet its liabilities as they fall due. Accordingly the going concern basis continues to be adopted when preparing the financial statements.

The company meets its day to day working capital requirements through a banking facility which is payable on demand. In addition, the company is supported by its parent company and directors.

Based on this, the Directors have concluded that they have a reasonable expectation that the Company will have adequate resources to continue in operational existence for the foreseeable future, being at least twelve months from the date of signing these financial statements, and they therefore continue to adopt the going concern basis of accounting in preparing these financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Income Statement in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

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 Statement of Financial Position 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 current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

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.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Fixed asset investments

Investments in subsidiaries

2024
£
Cost
At 01 July 2023 300
At 30 June 2024 300
Carrying value at 30 June 2024 300
Carrying value at 30 June 2023 300

4. Debtors

2024 2023
£ £
Deferred tax asset 5,125 5,125
VAT recoverable 263 239
5,388 5,364

5. Creditors: amounts falling due within one year

2024 2023
£ £
Accruals 600 600
Other creditors 36,374 34,756
36,974 35,356

6. Deferred tax

2024 2023
£ £
At the beginning of financial year 5,125 5,125
At the end of financial year 5,125 5,125

7. Related party transactions

The company took advantage of the exemption in section 33 of Financial Reporting Standard 102 from the requirement to disclose transactions with wholly owned companies within the group.

8. Ultimate controlling party

The ultimate parent company is Vin-Exchange International Ltd, a company registered in England. The company's registered office is 88 155/88 Lower Marsh Road, London, United Kingdom, SE1 7AB.