7 8 Roy Vincent Limited 08198552 false 2023-10-01 2024-09-30 2024-09-30 The principal activity of the company is development & construction of property. Digita Accounts Production Advanced 6.30.9574.0 true 08198552 2023-10-01 2024-09-30 08198552 2024-09-30 08198552 bus:OrdinaryShareClass1 bus:OtherShareType 2024-09-30 08198552 core:RetainedEarningsAccumulatedLosses 2024-09-30 08198552 core:ShareCapital 2024-09-30 08198552 core:FinanceLeases core:CurrentFinancialInstruments 2024-09-30 08198552 core:FinanceLeases core:Non-currentFinancialInstruments 2024-09-30 08198552 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-09-30 08198552 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2024-09-30 08198552 core:CurrentFinancialInstruments 2024-09-30 08198552 core:CurrentFinancialInstruments core:WithinOneYear 2024-09-30 08198552 core:Non-currentFinancialInstruments 2024-09-30 08198552 core:Non-currentFinancialInstruments core:AfterOneYear 2024-09-30 08198552 core:FurnitureFittings 2024-09-30 08198552 core:MotorVehicles 2024-09-30 08198552 core:PlantMachinery 2024-09-30 08198552 bus:SmallEntities 2023-10-01 2024-09-30 08198552 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 08198552 bus:FilletedAccounts 2023-10-01 2024-09-30 08198552 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 08198552 bus:RegisteredOffice 2023-10-01 2024-09-30 08198552 bus:Director1 2023-10-01 2024-09-30 08198552 bus:OrdinaryShareClass1 bus:OtherShareType 2023-10-01 2024-09-30 08198552 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 08198552 bus:Agent1 2023-10-01 2024-09-30 08198552 core:FurnitureFittings 2023-10-01 2024-09-30 08198552 core:MotorVehicles 2023-10-01 2024-09-30 08198552 core:PlantMachinery 2023-10-01 2024-09-30 08198552 countries:England 2023-10-01 2024-09-30 08198552 2023-09-30 08198552 core:FurnitureFittings 2023-09-30 08198552 core:MotorVehicles 2023-09-30 08198552 core:PlantMachinery 2023-09-30 08198552 2022-10-01 2023-09-30 08198552 2023-09-30 08198552 bus:OrdinaryShareClass1 bus:OtherShareType 2023-09-30 08198552 core:RetainedEarningsAccumulatedLosses 2023-09-30 08198552 core:ShareCapital 2023-09-30 08198552 core:FinanceLeases core:CurrentFinancialInstruments 2023-09-30 08198552 core:FinanceLeases core:Non-currentFinancialInstruments 2023-09-30 08198552 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-09-30 08198552 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-09-30 08198552 core:CurrentFinancialInstruments 2023-09-30 08198552 core:CurrentFinancialInstruments core:WithinOneYear 2023-09-30 08198552 core:Non-currentFinancialInstruments 2023-09-30 08198552 core:Non-currentFinancialInstruments core:AfterOneYear 2023-09-30 08198552 core:FurnitureFittings 2023-09-30 08198552 core:MotorVehicles 2023-09-30 08198552 core:PlantMachinery 2023-09-30 xbrli:pure iso4217:GBP xbrli:shares

Registration number: 08198552

Roy Vincent Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

 

Roy Vincent Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Roy Vincent Limited

Company Information

Director

Mr R Vincent

Registered office

The Old Dairy
Blandford Forum
Dorset
DT11 8DE

Accountants

Numeric Accounting
Chartered Certified AccountantsSuite 1 The Portway Centre
Old Sarum Park
Old Sarum
Salisbury
Wiltshire
SP4 6EB

 

Roy Vincent Limited

(Registration number: 08198552)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

197,093

212,228

Current assets

 

Stocks

5

406,172

6,307

Debtors

6

2,187,172

2,227,338

Cash at bank and in hand

 

417,577

1,267,994

 

3,010,921

3,501,639

Creditors: Amounts falling due within one year

7

(365,872)

(832,155)

Net current assets

 

2,645,049

2,669,484

Total assets less current liabilities

 

2,842,142

2,881,712

Creditors: Amounts falling due after more than one year

7

(216,540)

(263,214)

Provisions for liabilities

(45,520)

(52,530)

Net assets

 

2,580,082

2,565,968

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

2,579,982

2,565,868

Shareholders' funds

 

2,580,082

2,565,968

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

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 8 May 2025
 

 

Roy Vincent Limited

(Registration number: 08198552)
Balance Sheet as at 30 September 2024 (continued)

.........................................
Mr R Vincent
Director

 

Roy Vincent Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
The Old Dairy
Blandford Forum
Dorset
DT11 8DE

These financial statements were authorised for issue by the director on 8 May 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Contract revenue recognition

When the outcome of a transaction for the rendering of services can be estimated reliably in terms of revenue, costs and its stage of completion, the company recognises revenue on the sales of services in the reporting period in which the services are rendered by reference to the stage of completion of the specific transaction at the end of the reporting period. The stage of completion is determined on the basis of the actual completion of a proportion of the total services to be rendered.

 

Roy Vincent Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

2

Accounting policies (continued)

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% on reducing balance

Motor vehicles

25% on reducing balance

Equipment

15% on reducing balance

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Roy Vincent Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

2

Accounting policies (continued)

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification
A financial instrument is a contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity.
 Recognition and measurement
When a financial asset or financial liability is recognised initially, the entity shall measure it at the transaction price unless the arrangement constitutes, in effect, a financing transaction. An arrangement constitutes a financing transaction if payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

At the end of each reporting period, an entity shall measure all financial instruments which constitute a financing arrangement at fair value and recognise changes in fair value in profit or loss.

 

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 7 (2023 - 8).

 

Roy Vincent Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 October 2023

13,132

284,960

165,517

463,609

Additions

1,355

9,500

36,610

47,465

Disposals

-

-

(9,000)

(9,000)

At 30 September 2024

14,487

294,460

193,127

502,074

Depreciation

At 1 October 2023

6,188

130,031

115,162

251,381

Charge for the year

1,215

40,118

20,157

61,490

Eliminated on disposal

-

-

(7,890)

(7,890)

At 30 September 2024

7,403

170,149

127,429

304,981

Carrying amount

At 30 September 2024

7,084

124,311

65,698

197,093

At 30 September 2023

6,944

154,929

50,355

212,228

Assets held on Finance Lease

At the balance sheet date, Plant & Machinery with a carrying value of £89,074.50 (2023: £105,592.5) were held on finance leases.

At the balance sheet date, Motor Vehicles with a carrying value of £27,666.04 (2023: £34,924.03) were held on finance leases.

5

Stocks

2024
£

2023
£

Other inventories

406,172

6,307

6

Debtors

 

Roy Vincent Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

6

Debtors (continued)

Current

Note

2024
£

2023
£

Trade debtors

 

5,536

25,697

Amounts owed by related parties

11

2,094,382

2,074,402

Amounts recoverable on contracts

 

85,427

126,763

Other debtors

 

1,827

476

   

2,187,172

2,227,338

 

Roy Vincent Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

77,640

74,221

Trade creditors

 

47,477

98,158

Taxation and social security

 

231,482

377,671

Accruals and deferred income

 

1,760

16,320

Other creditors

 

7,513

265,785

 

365,872

832,155

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

216,540

263,214

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

129,237

176,383

Hire purchase contracts

68,105

86,831

Finance lease liabilities

19,198

-

216,540

263,214

 

Roy Vincent Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

9

Loans and borrowings (continued)

Current loans and borrowings

2024
£

2023
£

Bank borrowings

48,203

48,202

Hire purchase contracts

24,598

26,019

Finance lease liabilities

4,839

-

77,640

74,221

10

Dividends

2024

2023

£

£

Interim dividend of £218.05 (2023 - £Nil) per ordinary share

21,805

-

 

 

11

Related party transactions

During the year, total dividends of nil (2023 - nil) were paid to the director.

Included in creditors is a loan from the director Mr R Vincent and the balance outstanding at the end of the year was £4 (2023: £263,985). The loan is interest free and repayable on demand.

Included in debtors is a loan to RV Bee ltd, a company owned by Mr R Vincent. The balance due at the year end was £2,094,382.08 (2023: £2,074,401.86). This loan is interest free and repayable on demand.