Company No:
Contents
Note | 2024 | 2023 | ||
£ | £ | |||
Fixed assets | ||||
Intangible assets | 3 |
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144,561 | 178,626 | |||
Current assets | ||||
Debtors | 4 |
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Cash at bank and in hand |
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14,965 | 14,842 | |||
Creditors: amounts falling due within one year | 5 | (
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Net current liabilities | (355,731) | (354,375) | ||
Total assets less current liabilities | (211,170) | (175,749) | ||
Net liabilities | (
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Capital and reserves | ||||
Called-up share capital |
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Profit and loss account | (
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Total shareholder's deficit | (
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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 Software Ltd (registered number:
D J Hornabrook
Director |
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.
Vin-Exchange Software Ltd (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 £.
After having paid particular attention to a period of at least 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
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.
Computer software |
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2024 | 2023 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
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Computer software | Total | ||
£ | £ | ||
Cost | |||
At 01 July 2023 |
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At 30 June 2024 |
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Accumulated amortisation | |||
At 01 July 2023 |
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Charge for the financial year |
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At 30 June 2024 |
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Net book value | |||
At 30 June 2024 |
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At 30 June 2023 |
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2024 | 2023 | ||
£ | £ | ||
Deferred tax asset |
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Other debtors |
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2024 | 2023 | ||
£ | £ | ||
Other creditors |
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2024 | 2023 | ||
£ | £ | ||
At the beginning of financial year |
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At the end of financial year |
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The company took advantage of the exemption in section 33 of Financial Reporting Standard 102 from the requirement to disclose transaction with wholly owned companies within the group.