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REGISTERED NUMBER: 04918141 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2022

for

Talking Wines Limited

Talking Wines Limited (Registered number: 04918141)






Contents of the Financial Statements
for the Year Ended 31 March 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

Talking Wines Limited

Company Information
for the Year Ended 31 March 2022







DIRECTOR: S Thomson





SECRETARY: F E Thomson





REGISTERED OFFICE: 3 Emmervale Court
Midland Road
Cirencester
Gloucestershire
GL7 1PZ





REGISTERED NUMBER: 04918141 (England and Wales)





ACCOUNTANTS: PPS Chartered Accountants
29 Devizes Road
Swindon
Wiltshire
SN1 4BG

Talking Wines Limited (Registered number: 04918141)

Balance Sheet
31 March 2022

31.3.22 31.3.21
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 2,108
Tangible assets 5 11,035 14,921
11,035 17,029

CURRENT ASSETS
Stocks 299,511 209,317
Debtors 6 178,960 27,156
Cash at bank and in hand 44,873 16,471
523,344 252,944
CREDITORS
Amounts falling due within one year 7 362,838 155,555
NET CURRENT ASSETS 160,506 97,389
TOTAL ASSETS LESS CURRENT
LIABILITIES

171,541

114,418

CREDITORS
Amounts falling due after more than one
year

8

(34,109

)

(49,771

)

PROVISIONS FOR LIABILITIES (2,090 ) (2,826 )
NET ASSETS 135,342 61,821

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 9 135,242 61,721
SHAREHOLDERS' FUNDS 135,342 61,821

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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.

Talking Wines Limited (Registered number: 04918141)

Balance Sheet - continued
31 March 2022


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 by the director and authorised for issue on 12 September 2022 and were signed by:





S Thomson - Director


Talking Wines Limited (Registered number: 04918141)

Notes to the Financial Statements
for the Year Ended 31 March 2022

1. STATUTORY INFORMATION

Talking Wines 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.

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.

Turnover
Revenue is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts, rebates and value added tax.
Revenue from the sales of goods is recognised when the significant risks and rewards of ownership have passed to the buyer, usually on despatch of the goods.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on cost
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.

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.

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.

Talking Wines Limited (Registered number: 04918141)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts 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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 9 (2021 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 April 2021
and 31 March 2022 4,216
AMORTISATION
At 1 April 2021 2,108
Charge for year 2,108
At 31 March 2022 4,216
NET BOOK VALUE
At 31 March 2022 -
At 31 March 2021 2,108

Talking Wines Limited (Registered number: 04918141)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2021 47,262 30,400 12,193 89,855
Additions - - 1,819 1,819
Disposals - - (11,567 ) (11,567 )
At 31 March 2022 47,262 30,400 2,445 80,107
DEPRECIATION
At 1 April 2021 42,059 21,217 11,658 74,934
Charge for year 1,546 3,800 359 5,705
Eliminated on disposal - - (11,567 ) (11,567 )
At 31 March 2022 43,605 25,017 450 69,072
NET BOOK VALUE
At 31 March 2022 3,657 5,383 1,995 11,035
At 31 March 2021 5,203 9,183 535 14,921

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2021
and 31 March 2022 30,400
DEPRECIATION
At 1 April 2021 21,217
Charge for year 3,800
At 31 March 2022 25,017
NET BOOK VALUE
At 31 March 2022 5,383
At 31 March 2021 9,183

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.22 31.3.21
£    £   
Trade debtors 166,406 11,862
Other debtors 12,554 15,294
178,960 27,156

Talking Wines Limited (Registered number: 04918141)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.22 31.3.21
£    £   
Bank loans and overdrafts 9,687 7,108
Hire purchase contracts 3,785 3,785
Trade creditors 255,435 68,046
Taxation and social security 69,415 48,583
Other creditors 24,516 28,033
362,838 155,555

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.22 31.3.21
£    £   
Bank loans 33,206 42,893
Hire purchase contracts 903 4,690
Other creditors - 2,188
34,109 49,771

Amounts falling due in more than five years:

Repayable by instalments
Bank loans greater than 5 years - 2,651

9. RESERVES
Retained
earnings
£   

At 1 April 2021 61,721
Profit for the year 87,521
Dividends (14,000 )
At 31 March 2022 135,242

10. ULTIMATE CONTROLLING PARTY

The controlling party is S Thomson.

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Talking Wines Limited

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Talking Wines Limited for the year ended 31 March 2022 which comprise the Income Statement, 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Talking Wines Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Talking Wines Limited and state those matters that we have agreed to state to the director of Talking Wines Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Talking Wines Limited and its director for our work or for this report.

It is your duty to ensure that Talking Wines Limited 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 Talking Wines Limited. You consider that Talking Wines Limited 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 Talking Wines Limited. 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.






PPS Chartered Accountants
29 Devizes Road
Swindon
Wiltshire
SN1 4BG


12 September 2022