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Company No: 11759511 (England and Wales)

VIN-EXCHANGE INTERNATIONAL LTD

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

VIN-EXCHANGE INTERNATIONAL LTD

Unaudited Financial Statements

For the financial year ended 30 June 2024

Contents

VIN-EXCHANGE INTERNATIONAL LTD

STATEMENT OF FINANCIAL POSITION

As at 30 June 2024
VIN-EXCHANGE INTERNATIONAL LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 June 2024
Note 2024 2023
£ £
Fixed assets
Investments 3 5,291,657 5,291,657
5,291,657 5,291,657
Current assets
Debtors 4 1,562,714 1,567,586
Cash at bank and in hand 113 199
1,562,827 1,567,785
Creditors: amounts falling due within one year 5 ( 72,906) ( 105,169)
Net current assets 1,489,921 1,462,616
Total assets less current liabilities 6,781,578 6,754,273
Net assets 6,781,578 6,754,273
Capital and reserves
Called-up share capital 6 435,978 423,674
Share premium account 6,559,961 6,510,743
Profit and loss account ( 214,361 ) ( 180,144 )
Total shareholders' funds 6,781,578 6,754,273

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 International Ltd (registered number: 11759511) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

D J Hornabrook
Director

24 March 2025

VIN-EXCHANGE INTERNATIONAL LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
VIN-EXCHANGE INTERNATIONAL LTD

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 International 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 £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

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.

Finance costs

Finance costs are charged to the Income Statement over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Income Statement as described below.

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 3 3

3. Fixed asset investments

Investments in subsidiaries

2024
£
Cost
At 01 July 2023 5,291,657
At 30 June 2024 5,291,657
Carrying value at 30 June 2024 5,291,657
Carrying value at 30 June 2023 5,291,657

Investments in shares

Name of entity Registered office Class of
shares
Ownership
30.06.2024
Ownership
30.06.2023
Vin-Exchange Pty Ltd 25 Craigburn Farm Circuit, Craigburn Farm, SA 5051, Australia Ordinary 100.00% 100.00%
Vin-Exchange Group Limited 88 155/88 Lower Marsh Road, London, United Kingdom, SE1 7AB Ordinary 100.00% 100.00%
Vin-Exchange IP Ltd 88 155/88 Lower Marsh Road, London, United Kingdom, SE1 7AB Ordinary 100.00% 100.00%
Vin-Exchange Software Ltd 88 155/88 Lower Marsh Road, London, United Kingdom, SE1 7AB Ordinary 100.00% 100.00%
Vin-Exchange Ltd 88 155/88 Lower Marsh Road, London, United Kingdom, SE1 7AB Ordinary 100.00% 100.00%

4. Debtors

2024 2023
£ £
VAT recoverable 0 2,861
Other debtors 1,562,714 1,564,725
1,562,714 1,567,586

5. Creditors: amounts falling due within one year

2024 2023
£ £
Convertible loan notes 0 61,522
Accruals 72,906 43,647
72,906 105,169

6. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
43,597,816 Ordinary shares of £ 0.01 each (2023: 42,367,382 shares of £ 0.01 each) 435,978 423,674

Share allotments during the period were as follows:

1,230,434 Ordinary £0.01 shares were issued at a premium of £0.05 on 22/02/2024