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REGISTERED NUMBER: 06473823 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

GLASS ONION VINTAGE LIMITED

GLASS ONION VINTAGE LIMITED (REGISTERED NUMBER: 06473823)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GLASS ONION VINTAGE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTOR: J M Hickling



SECRETARY: B J Malcolm



REGISTERED OFFICE: 12 Victoria Road
Barnsley
South Yorkshire
S70 2BB



REGISTERED NUMBER: 06473823 (England and Wales)



ACCOUNTANTS: Gibson Booth Limited
12 Victoria Road
Barnsley
South Yorkshire
S70 2BB



BANKERS: National Westminster Bank plc
26 Market Hill
Barnsley
South Yorkshire
S70 2QE

GLASS ONION VINTAGE LIMITED (REGISTERED NUMBER: 06473823)

BALANCE SHEET
31 DECEMBER 2024

31.12.24 31.12.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 7,074 14,447
Tangible assets 5 153,009 158,204
160,083 172,651

CURRENT ASSETS
Stocks 566,541 678,804
Debtors 6 287,269 341,514
Cash at bank and in hand 184,459 172,328
1,038,269 1,192,646
CREDITORS
Amounts falling due within one year 7 825,672 949,502
NET CURRENT ASSETS 212,597 243,144
TOTAL ASSETS LESS CURRENT LIABILITIES 372,680 415,795

CREDITORS
Amounts falling due after more than
one year

8

31,047

105,560
NET ASSETS 341,633 310,235

CAPITAL AND RESERVES
Called up share capital 10 380 380
Other reserves 11,438 11,438
Retained earnings 329,815 298,417
SHAREHOLDERS' FUNDS 341,633 310,235

GLASS ONION VINTAGE LIMITED (REGISTERED NUMBER: 06473823)

BALANCE SHEET - continued
31 DECEMBER 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved for issue by the director and authorised for issue on 14 April 2025 and were signed by:





J M Hickling - Director


GLASS ONION VINTAGE LIMITED (REGISTERED NUMBER: 06473823)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1. STATUTORY INFORMATION

Glass Onion Vintage Limited 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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest pound.

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
No judgements have been made in the process of applying the below accounting policies that have had the most significant effect on amounts recognised in the financial statements.

There are no key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date that have a significant risk of causing material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover from the sale of wholesale vintage clothing is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on dispatch of goods.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2008, has been fully amortised.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Website development costs are being amortised evenly over their estimated useful life of four years.

GLASS ONION VINTAGE LIMITED (REGISTERED NUMBER: 06473823)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset, less residual value, over its estimated useful life.
Plant and machinery - Straight line over 5 years
Fixtures and fittings - Straight line over 5 years
Computer equipment - Straight line over 4 years

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving stock. Cost is calculated using the first-in, first-out method and includes all purchase, transport and handling costs in bringing stocks to their present location and condition.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Assets obtained under hire purchase or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 53 (2023 - 57 ) .

GLASS ONION VINTAGE LIMITED (REGISTERED NUMBER: 06473823)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

4. INTANGIBLE FIXED ASSETS
Website
development
Goodwill costs Totals
£    £    £   
COST
At 1 January 2024
and 31 December 2024 10,000 36,863 46,863
AMORTISATION
At 1 January 2024 10,000 22,416 32,416
Amortisation for year - 7,373 7,373
At 31 December 2024 10,000 29,789 39,789
NET BOOK VALUE
At 31 December 2024 - 7,074 7,074
At 31 December 2023 - 14,447 14,447

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 January 2024 245,886 141,661 29,547 417,094
Additions - 62,082 - 62,082
At 31 December 2024 245,886 203,743 29,547 479,176
DEPRECIATION
At 1 January 2024 162,816 75,588 20,486 258,890
Charge for year 15,769 42,446 9,062 67,277
At 31 December 2024 178,585 118,034 29,548 326,167
NET BOOK VALUE
At 31 December 2024 67,301 85,709 (1 ) 153,009
At 31 December 2023 83,070 66,073 9,061 158,204

GLASS ONION VINTAGE LIMITED (REGISTERED NUMBER: 06473823)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 194,337 229,796
Other debtors - 210
Prepayments and accrued income 92,932 111,508
287,269 341,514

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Bank loans and overdrafts 74,513 74,513
Hire purchase contracts (see note 9) - 1,654
Trade creditors 466,798 477,940
Social security and other taxes 17,510 20,359
VAT 115,963 150,852
Other creditors 36,055 28,276
Directors' current accounts 89,862 187,883
Accruals and deferred income 24,971 8,025
825,672 949,502

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.24 31.12.23
£    £   
Bank loans - 1-2 years 31,047 74,513
Bank loans - 2-5 years - 31,047
31,047 105,560

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.12.24 31.12.23
£    £   
Net obligations repayable:
Within one year - 1,654

GLASS ONION VINTAGE LIMITED (REGISTERED NUMBER: 06473823)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

9. LEASING AGREEMENTS - continued

Non-cancellable operating leases
31.12.24 31.12.23
£    £   
Within one year 40,000 40,000
Between one and five years 73,333 113,333
113,333 153,333

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.24 31.12.23
Value: £ £
- 'A' non-voting £1 - -
- 'B' non-voting £1 - -
- 'C' non-voting £1 - -
- 'D' non-voting £1 - -
361 X Ordinary £1 361 361
19 Y Ordinary £1 19 19
380 380