Company registration number SC576299 (Scotland)
Devoted2Vintage Ltd
Unaudited financial statements
for the year ended 30 September 2024
Pages for filing with registrar
Devoted2Vintage Ltd
Chartered Accountants' report to the board of directors on the preparation of the
unaudited statutory financial statements of Devoted2Vintage Ltd
1

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Devoted2Vintage Ltd for the year ended 30 September 2024 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the ICAS we are subject to its ethical and other professional requirements which are detailed at https://www.icas.com/professional-resources/practice/support-and-guidance/framework-for-the-preparation-of-accounts-revised-june-2020.

This report is made solely to the board of directors of Devoted2Vintage Ltd, as a body, in accordance with the terms of our engagement letter dated 1 April 2021. Our work has been undertaken solely to prepare for your approval the financial statements of Devoted2Vintage Ltd and state those matters that we have agreed to state to the board of directors of Devoted2Vintage Ltd, as a body, in this report in accordance with the requirements of the ICAS as detailed at https://icas.com/icas-framework-preparation-of-accounts. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Devoted2Vintage Ltd and its board of directors as a body, for our work or for this report.

It is your duty to ensure that Devoted2Vintage Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Devoted2Vintage Ltd. You consider that Devoted2Vintage Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Devoted2Vintage Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

James Milne
Chartered Accountants
Rosewood
Raemoir Road
Banchory
AB31 4ET
28 May 2025
Devoted2Vintage Ltd
Balance sheet
as at 30 September 2024
30 September 2024
2
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
150
180
Current assets
Stocks
10,460
8,867
Debtors
167
180
Cash at bank and in hand
2,055
203
12,682
9,250
Creditors: amounts falling due within one year
(68,887)
(68,136)
Net current liabilities
(56,205)
(58,886)
Net liabilities
(56,055)
(58,706)
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
(56,057)
(58,708)
Total equity
(56,055)
(58,706)

In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

Devoted2Vintage Ltd
Balance sheet (continued)
as at 30 September 2024
30 September 2024
3
The financial statements were approved by the board of directors and authorised for issue on 28 May 2025 and are signed on its behalf by:
A. Graham Macewen
Director
Company Registration No. SC576299
Devoted2Vintage Ltd
Notes to the financial statements
for the year ended 30 September 2024
4
1
Accounting policies
Company information

Devoted2Vintage Ltd is a private company limited by shares incorporated in Scotland. The registered office is Braeriach, Pitmurchie Road, Kincardine O'Neil, Aboyne, Aberdeenshire, Scotland, AB34 5AQ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The company has net liabilities of £56,055 (2023 - £58,706), but included in the creditors is the sum of £56,765 (2023 - £58,953) owed to a director. The director has confirmed that he will not call in this amount for as long as necessary to ensure the ongoing viability of the company. The directors therefore consider it appropriate for the accounts to be prepared on the going concern basis.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

1.4
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 5 years.

1.5
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Intellectual property
5 years straight line
Devoted2Vintage Ltd
Notes to the financial statements (continued)
for the year ended 30 September 2024
1
Accounting policies (continued)
5
1.6
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
15% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.7
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

2
Intangible fixed assets
Total
£
Cost
At 1 October 2023 and 30 September 2024
48,000
Amortisation and impairment
At 1 October 2023 and 30 September 2024
48,000
Carrying amount
At 30 September 2024
-
0
At 30 September 2023
-
0
Devoted2Vintage Ltd
Notes to the financial statements (continued)
for the year ended 30 September 2024
6
3
Tangible fixed assets
Total
£
Cost
At 1 October 2023 and 30 September 2024
500
Depreciation and impairment
At 1 October 2023
320
Depreciation charged in the year
30
At 30 September 2024
350
Carrying amount
At 30 September 2024
150
At 30 September 2023
180
4
Directors' transactions
Description
Opening balance  (credit)
Amounts advanced
Amounts repaid
Closing balance  (credit)
£
£
£
£
A. Graham Macewen - Director's account
58,953
312
(2,500)
56,765
58,953
312
(2,500)
56,765
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