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REGISTERED NUMBER: 13436575 (England and Wales)















STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

FOR

VANILLA RETAIL GROUP LTD

VANILLA RETAIL GROUP LTD (REGISTERED NUMBER: 13436575)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 6

Income Statement 9

Other Comprehensive Income 10

Balance Sheet 11

Statement of Changes in Equity 12

Cash Flow Statement 13

Notes to the Cash Flow Statement 14

Notes to the Financial Statements 15


VANILLA RETAIL GROUP LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: S S Chawla
Mrs R K Chawla
D S Chawla
A S Chawla





REGISTERED OFFICE: 191 - 193 Commercial Road
London
E1 2BT





REGISTERED NUMBER: 13436575 (England and Wales)





AUDITORS: Xeinadin Audit Ltd
Statutory Auditors
249 Cranbrook Road
Ilford
Essex
IG1 4TG

VANILLA RETAIL GROUP LTD (REGISTERED NUMBER: 13436575)

STRATEGIC REPORT
FOR THE YEAR ENDED 30 JUNE 2024

The directors present their strategic report for the year ended 30 June 2024.

REVIEW OF BUSINESS
The results for the period and financial position of the company are as shown in the annexed financial statements.

The company's turnover decrease during the year by 6.22% with sales decreasing from £31,823,143 to £29,843,160.The gross profit margin has also decreased from 56.00% to 53.38% during the year with the company operating in a challenging current economic climate. The market conditions are expected to continue to be very competitive.

The directors are continuously monitoring the potential risks and uncertainty to the business in order to take the necessary mitigating steps to maintain the company's competitive edge.

PRINCIPAL RISKS AND UNCERTAINTIES
There are a number of risks and uncertainties which could impact the performance of the company. The company
operates robust risk management processes which identify risks and uncertainties and evaluates mitigation
opportunities and solutions.

The management follow a continuous review of the performance of the company through monthly senior
management meetings. Action plans are developed and reviewed on an ongoing basis. The key risks are
principally the competitiveness of the UK market. Sales opportunities are continually evaluated to
the current market and economic climate

KEY PERFORMANCE INDICATORS
The management team analyse various key performance indicators as part of their overall strategic review but
have identified the following as being particularly important.

Sales performance versus main competitors, sales versus budget and prior year and quality statistics.

ON BEHALF OF THE BOARD:





S S Chawla - Director


28 March 2025

VANILLA RETAIL GROUP LTD (REGISTERED NUMBER: 13436575)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30 JUNE 2024

The directors present their report with the financial statements of the company for the year ended 30 June 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of clothing retail.

DIVIDENDS
No dividends will be distributed for the year ended 30 June 2024.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 July 2023 to the date of this report.

S S Chawla
Mrs R K Chawla
D S Chawla
A S Chawla


VANILLA RETAIL GROUP LTD (REGISTERED NUMBER: 13436575)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30 JUNE 2024

FINANCIAL INSTRUMENTS
Treasury operations and financial instruments

The company operates a treasury function which is responsible for managing the liquidity, interest and foreign currency risks associated with the company's activities.

The company's principal financial instruments include derivative financial instruments, the purpose of which is to manage currency risks and interest rate risks arising from the company's activities, and bank overdrafts, loans and corporate bonds, the main purpose of which is to raise finance for the company's operations. In addition, the company has various other financial assets and liabilities such as trade debtors and trade creditors arising directly from its operations. Derivative transactions which the company enters into principally comprise forward exchange contracts. In accordance with company's treasury policy, derivative instruments are not entered into for speculative purposes.

Liquidity risk

The company manages its cash and borrowing requirements in order to maximise interest income and minimise interest expense, whilst ensuring the company has sufficient liquid resources to meet the operating needs of the business.

Interest rate risk

The company is exposed to fair value interest rate risk on its fixed rate borrowings and cash flow interest rate risk on floating rate deposits, bank overdrafts and loans. The company uses interest rate derivatives to manage the mix of fixed and variable rate debt so as to reduce its exposure to changes in interest rates.

Credit risk

The company is exposed to the risk of claw back on finance commissions, if the customer fails the necessary standards set out in the terms and conditions of the finance companies. The risk is limited to the value of the commission received.

All customers who wish to trade on credit terms are subject to credit verification procedures. Trade debtors are monitored on an ongoing basis and provision is made for doubtful debts where necessary.

Price risk

The company is exposed to price risk as a result of its operations in a competitive market. The company monitors this using Key Performance indicators (KPIs) and acts accordingly.

Disabled persons

It is the policy of the company to give full and fair consideration to applications for employment from disabled persons, to continue wherever possible the employment of members of staff who may become disabled and to ensure that suitable training, career development and promotion are offered to such persons.

Employee involvement

The company's policy is to consult and discuss with employees, through staff councils and at meetings, matters likely to affect employees' interests.

Information about matters of concern to employees is given through information bulletins and reports which seek to achieve a common awareness on the part of all employees of the financial and economic factors affecting the company's performance.

STRATEGIC REPORT
The company has chosen in accordance with Companies Act 2006, s. 414C(11) to set out in the company's strategic report information required by Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008, Sch. 7 to be contained in the directors' report. It has done so in respect of fair review of the business, principal risks and uncertainties, and key performance indicators.

VANILLA RETAIL GROUP LTD (REGISTERED NUMBER: 13436575)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30 JUNE 2024


STREAMLINED ENERGY AND CARBON REPORTING
As the company has not consumed more than 40,000 kWh of energy in this reporting period, it qualifies as a low energy user under these regulations and is not required to report on its emissions, energy consumption or energy efficiency activities.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Xeinadin Audit Ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





S S Chawla - Director


28 March 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
VANILLA RETAIL GROUP LTD

Opinion
We have audited the financial statements of Vanilla Retail Group Ltd (the 'company') for the year ended 30 June 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
_
In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 30 June 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
VANILLA RETAIL GROUP LTD


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page five, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

- Enquiry of management, those charged with governance and the entity's solicitors around actual and potential litigation and claims.
- Enquiry of entity staff in tax and compliance functions to identify any instances of non-compliance with laws and regulation..
- Reviewing minutes of meetings of those charged with governance.
- Reviewing internal audit reports.
- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations.
- Reviewing licensing laws and ensuring compliance.
- Auditing the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness, and evaluating the business rationale of significant transactions outside the normal course of business.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
VANILLA RETAIL GROUP LTD


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Barry Leibovitch (Senior Statutory Auditor)
for and on behalf of Xeinadin Audit Ltd
Statutory Auditors
249 Cranbrook Road
Ilford
Essex
IG1 4TG

28 March 2025

VANILLA RETAIL GROUP LTD (REGISTERED NUMBER: 13436575)

INCOME STATEMENT
FOR THE YEAR ENDED 30 JUNE 2024

2024 2023
as restated
Notes £    £   

TURNOVER 29,843,160 31,823,143

Cost of sales 13,808,168 14,002,922
GROSS PROFIT 16,034,992 17,820,221

Administrative expenses 13,774,179 15,218,150
2,260,813 2,602,071

Other operating income 24,282 12,014
OPERATING PROFIT 5 2,285,095 2,614,085

Interest receivable and similar income 45,646 -
PROFIT BEFORE TAXATION 2,330,741 2,614,085

Tax on profit 6 689,081 628,864
PROFIT FOR THE FINANCIAL YEAR 1,641,660 1,985,221

VANILLA RETAIL GROUP LTD (REGISTERED NUMBER: 13436575)

OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 JUNE 2024

2024 2023
as restated
Notes £    £   

PROFIT FOR THE YEAR 1,641,660 1,985,221


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

1,641,660

1,985,221

VANILLA RETAIL GROUP LTD (REGISTERED NUMBER: 13436575)

BALANCE SHEET
30 JUNE 2024

2024 2023
as restated
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 9 2,049,553 2,290,133

CURRENT ASSETS
Stocks 10 2,880,084 3,337,755
Debtors 11 4,748,961 2,026,175
Cash at bank and in hand 3,057,183 2,157,319
10,686,228 7,521,249
CREDITORS
Amounts falling due within one year 12 6,487,824 5,164,661
NET CURRENT ASSETS 4,198,404 2,356,588
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,247,957

4,646,721

PROVISIONS FOR LIABILITIES 13 267,935 308,359
NET ASSETS 5,980,022 4,338,362

CAPITAL AND RESERVES
Called up share capital 14 100 100
Retained earnings 15 5,979,922 4,338,262
SHAREHOLDERS' FUNDS 5,980,022 4,338,362

The financial statements were approved by the Board of Directors and authorised for issue on 28 March 2025 and were signed on its behalf by:





S S Chawla - Director


VANILLA RETAIL GROUP LTD (REGISTERED NUMBER: 13436575)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 July 2022 100 2,353,041 2,353,141

Changes in equity
Total comprehensive income - 1,985,221 1,985,221
Balance at 30 June 2023 100 4,338,262 4,338,362

Changes in equity
Total comprehensive income - 1,641,660 1,641,660
Balance at 30 June 2024 100 5,979,922 5,980,022

VANILLA RETAIL GROUP LTD (REGISTERED NUMBER: 13436575)

CASH FLOW STATEMENT
FOR THE YEAR ENDED 30 JUNE 2024

2024 2023
as restated
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,083,971 2,061,384
Tax paid (529,374 ) (179,956 )
Net cash from operating activities 554,597 1,881,428

Cash flows from investing activities
Purchase of tangible fixed assets (89,049 ) (1,491,464 )
Interest received 45,646 -
Net cash from investing activities (43,403 ) (1,491,464 )

Cash flows from financing activities
Intercompany 388,670 (897,604 )
Net cash from financing activities 388,670 (897,604 )

Increase/(decrease) in cash and cash equivalents 899,864 (507,640 )
Cash and cash equivalents at beginning of
year

2

2,157,319

2,664,959

Cash and cash equivalents at end of year 2 3,057,183 2,157,319

VANILLA RETAIL GROUP LTD (REGISTERED NUMBER: 13436575)

NOTES TO THE CASH FLOW STATEMENT
FOR THE YEAR ENDED 30 JUNE 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS

2024 2023
as restated
£    £   
Profit before taxation 2,330,741 2,614,085
Depreciation charges 329,629 349,351
Finance income (45,646 ) -
2,614,724 2,963,436
Decrease/(increase) in stocks 457,671 (1,411,335 )
(Increase)/decrease in trade and other debtors (3,099,534 ) 5,020,617
Increase/(decrease) in trade and other creditors 1,111,110 (4,511,334 )
Cash generated from operations 1,083,971 2,061,384

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 30 June 2024
30.6.24 1.7.23
£    £   
Cash and cash equivalents 3,057,183 2,157,319
Year ended 30 June 2023
30.6.23 1.7.22
as restated
£    £   
Cash and cash equivalents 2,157,319 2,664,959


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.7.23 Cash flow At 30.6.24
£    £    £   
Net cash
Cash at bank and in hand 2,157,319 899,864 3,057,183
2,157,319 899,864 3,057,183
Total 2,157,319 899,864 3,057,183

VANILLA RETAIL GROUP LTD (REGISTERED NUMBER: 13436575)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

Vanilla Retail Group Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Significant judgements and estimates
In the application of the company’s accounting policies, the directors are required to make judgements,
estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent
from other sources. The estimates and associated assumptions are based on historical experience and other
factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting
estimates are recognised in the period in which the estimate is revised where the revision affects only that
period, or in the period of the revision and future periods where the revision affects both current and future
periods.

Turnover
Turnover is measured at the fair value of the consideration received or receivable for the retail sale of ladies garments in the normal course of business, excluding discounts rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 10% on cost
Fixtures and fittings - 15% on reducing balance
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Financial instruments are recognised in the company's financial statements when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


VANILLA RETAIL GROUP LTD (REGISTERED NUMBER: 13436575)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or non-current assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

3. JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

4. EMPLOYEES AND DIRECTORS
2024 2023
as restated
£    £   
Wages and salaries 2,777,326 2,104,739
Social security costs 180,377 136,582
Other pension costs 42,784 32,922
3,000,487 2,274,243

VANILLA RETAIL GROUP LTD (REGISTERED NUMBER: 13436575)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

4. EMPLOYEES AND DIRECTORS - continued

The average number of employees during the year was as follows:
2024 2023
as restated

Store Staffs 114 109
Store Manager/Assistant Manager 14 9
Concession Field Managers 17 13
Administration 8 -
Warehouse 23 12
176 143

2024 2023
as restated
£    £   
Directors' remuneration - -

5. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2024 2023
as restated
£    £   
Depreciation - owned assets 329,629 349,351
Auditors' remuneration 8,900 8,000
Foreign exchange differences (24,277 ) (11,862 )

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
as restated
£    £   
Current tax:
UK corporation tax 656,859 383,194
Corporation tax interest 72,646 29,956
Total current tax 729,505 413,150

Deferred tax (40,424 ) 215,714
Tax on profit 689,081 628,864

VANILLA RETAIL GROUP LTD (REGISTERED NUMBER: 13436575)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

6. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
as restated
£    £   
Profit before tax 2,330,741 2,614,085
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2023 - 20.500%)

582,685

535,887

Effects of:
Capital allowances in excess of depreciation - (152,693 )
Depreciation in excess of capital allowances 73,174 -
Adjustments to tax charge in respect of previous periods 1,000 -
Deferred tax (40,424 ) 215,714
Corporation tax interest 42,324 29,956
Corporation tax penalties 30,322 -
Total tax charge 689,081 628,864

7. PRIOR YEAR ADJUSTMENT

Commissions paid have been reallocated to show separately.

8. FINANCIAL INSTRUMENTS

2024 2023
£    £   

Carrying amount of financial assets

Financial assets measured at cost 3,479,406 691,379



Carrying amount of financial liabilities

Financial liabilities measured at cost 5,405,968 2,560,664


Financial assets that are debt instruments measured at cost comprise trade debtors, amounts owed by group undertakings and other debtors.

Financial liabilities measured at cost comprise trade creditors, amount owed to group undertakings, other creditors and finance lease obligations.

VANILLA RETAIL GROUP LTD (REGISTERED NUMBER: 13436575)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

9. TANGIBLE FIXED ASSETS
Improvements Fixtures
Short to and Computer
leasehold property fittings equipment Totals
£    £    £    £    £   
COST
At 1 July 2023 35,570 1,217,772 1,474,444 69,432 2,797,218
Additions - 52,115 26,425 10,509 89,049
At 30 June 2024 35,570 1,269,887 1,500,869 79,941 2,886,267
DEPRECIATION
At 1 July 2023 - 196,643 283,437 27,005 507,085
Charge for year - 127,002 182,625 20,002 329,629
At 30 June 2024 - 323,645 466,062 47,007 836,714
NET BOOK VALUE
At 30 June 2024 35,570 946,242 1,034,807 32,934 2,049,553
At 30 June 2023 35,570 1,021,129 1,191,007 42,427 2,290,133

10. STOCKS
2024 2023
as restated
£    £   
Stocks 2,880,084 3,337,755

11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
as restated
£    £   
Trade debtors 474,847 306,751
Amounts owed by group undertakings 2,751 379,499
Other debtors 3,001,808 5,890
VAT 130,680 -
Prepayments 1,138,875 1,334,035
4,748,961 2,026,175

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
as restated
£    £   
Trade creditors 5,384,575 2,548,951
Amounts owed to group undertakings 11,922 -
Tax 883,357 683,226
Social security and other taxes 38,679 44,057
VAT - 221,918
Other creditors 9,472 12,474
Accrued expenses 159,819 1,654,035
6,487,824 5,164,661

VANILLA RETAIL GROUP LTD (REGISTERED NUMBER: 13436575)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

13. PROVISIONS FOR LIABILITIES
2024 2023
as restated
£    £   
Deferred tax 267,935 308,359

Deferred
tax
£   
Balance at 1 July 2023 308,359
Provided during year (40,424 )
Balance at 30 June 2024 267,935

14. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: as restated
£    £   
100 Ordinary £1 100 100

15. RESERVES
Retained
earnings
£   

At 1 July 2023 4,338,262
Profit for the year 1,641,660
At 30 June 2024 5,979,922

16. RELATED PARTY DISCLOSURES

As at the year end £11,922 (2023: £379,499 was due to) was due to Nova of London Ltd a company registered in England and Wales. The directors have a beneficial interest in this company.

Sales to Nova of London Ltd were £460,336 (2023: £223,670). Purchases from Nova of London Ltd were £12,473,908 (2023: £14,457,313).

As at the year end £2,751 (2023: £Nil was due from) was due from Blue Vanilla Clothing Ltd a company registered in England and Wales. The directors have a beneficial interest in this company.

During the year, a total of key management personnel compensation of £527,022 (2023: £342,735) was paid.

17. CONTROL

During the year, the company was controlled by the directors.