Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31false792022-04-01falseNo description of principal activitytrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08269454 2022-04-01 2023-03-31 08269454 2021-04-01 2022-03-31 08269454 2023-03-31 08269454 2022-03-31 08269454 c:Director2 2022-04-01 2023-03-31 08269454 d:Buildings 2022-04-01 2023-03-31 08269454 d:Buildings 2023-03-31 08269454 d:Buildings 2022-03-31 08269454 d:Buildings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 08269454 d:PlantMachinery 2022-04-01 2023-03-31 08269454 d:PlantMachinery 2023-03-31 08269454 d:PlantMachinery 2022-03-31 08269454 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 08269454 d:FurnitureFittings 2022-04-01 2023-03-31 08269454 d:OfficeEquipment 2022-04-01 2023-03-31 08269454 d:ComputerEquipment 2022-04-01 2023-03-31 08269454 d:ComputerEquipment 2023-03-31 08269454 d:ComputerEquipment 2022-03-31 08269454 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 08269454 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 08269454 d:Goodwill 2023-03-31 08269454 d:Goodwill 2022-03-31 08269454 d:CurrentFinancialInstruments 2023-03-31 08269454 d:CurrentFinancialInstruments 2022-03-31 08269454 d:Non-currentFinancialInstruments 2023-03-31 08269454 d:Non-currentFinancialInstruments 2022-03-31 08269454 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 08269454 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 08269454 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 08269454 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 08269454 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 08269454 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-03-31 08269454 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-03-31 08269454 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-03-31 08269454 d:ShareCapital 2023-03-31 08269454 d:ShareCapital 2022-03-31 08269454 d:SharePremium 2023-03-31 08269454 d:SharePremium 2022-03-31 08269454 d:InvestmentPropertiesRevaluationReserve 2023-03-31 08269454 d:InvestmentPropertiesRevaluationReserve 2022-03-31 08269454 d:RetainedEarningsAccumulatedLosses 2023-03-31 08269454 d:RetainedEarningsAccumulatedLosses 2022-03-31 08269454 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 08269454 d:AcceleratedTaxDepreciationDeferredTax 2022-03-31 08269454 d:TaxLossesCarry-forwardsDeferredTax 2023-03-31 08269454 d:TaxLossesCarry-forwardsDeferredTax 2022-03-31 08269454 c:OrdinaryShareClass1 2022-04-01 2023-03-31 08269454 c:OrdinaryShareClass1 2023-03-31 08269454 c:OrdinaryShareClass1 2022-03-31 08269454 c:FRS102 2022-04-01 2023-03-31 08269454 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 08269454 c:FullAccounts 2022-04-01 2023-03-31 08269454 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 08269454










THE WINERY AT HUNDRED HILLS LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
THE WINERY AT HUNDRED HILLS LTD
REGISTERED NUMBER: 08269454

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
3,213,244
3,450,204

  
3,213,244
3,450,204

Current assets
  

Stocks
 6 
3,778,159
2,741,384

Debtors: amounts falling due after more than one year
 7 
760,941
713,273

Debtors: amounts falling due within one year
 7 
365,897
25,281

Cash at bank and in hand
 8 
58,032
52,885

  
4,963,029
3,532,823

Creditors: amounts falling due within one year
 9 
(3,786,616)
(4,212,374)

Net current assets/(liabilities)
  
 
 
1,176,413
 
 
(679,551)

Total assets less current liabilities
  
4,389,657
2,770,653

Creditors: amounts falling due after more than one year
 10 
(2,054,207)
(120,000)

  

Net assets
  
2,335,450
2,650,653


Capital and reserves
  

Called up share capital 
 13 
128
128

Share premium account
  
5,004,972
5,004,972

Revaluation reserve
  
50,000
50,000

Profit and loss account
  
(2,719,650)
(2,404,447)

  
2,335,450
2,650,653


Page 1

 
THE WINERY AT HUNDRED HILLS LTD
REGISTERED NUMBER: 08269454

BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




S P Duckett
Director

Date: 26 September 2023

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
THE WINERY AT HUNDRED HILLS LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


Company information

The Winery at Hundred Hills Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 17 Nolthmoor Road, Oxford, Oxfordshire, OX2 6UW. The principal place of business is The Old Road, Pishill, Henley-On-Thames, Oxfordshire, RG9 6HS.

2.Accounting policies

 
2.1

Accounting convention

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

  
2.2

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. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured realiably.

  
2.3

Intangible fixed assets other than goodwill

A forward purchase option agreement has been capitalised and classified as an intangible asset. It is reviewed for impairment at the end of each financial year; impairment principally arising from the exercise of the option, against the cost of grapes purchased.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
THE WINERY AT HUNDRED HILLS LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Freehold land and buildings
-
4%
straight line
Plant and machinery
-
25%
reducing balance
Fixtures and fittings
-
25%
reducing balance
Office equipment
-
25%
reducing balance
Website
-
25%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

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.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
THE WINERY AT HUNDRED HILLS LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.11

Financial instruments

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.
Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an 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.

 
2.12

Current and deferred taxation

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

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 5

 
THE WINERY AT HUNDRED HILLS LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

3.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


        2023
        2022
            No.
            No.







Average number of employees
9
7


4.


Intangible assets




Forward Purchase Option

£



Cost


At 1 April 2022
75,000



At 31 March 2023

75,000



Amortisation


At 1 April 2022
75,000



At 31 March 2023

75,000



Net book value



At 31 March 2023
-



At 31 March 2022
-



Page 6

 
THE WINERY AT HUNDRED HILLS LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Tangible fixed assets





Land and buildings
Plant and machinery
Website
Total

£
£
£
£



Cost or valuation


At 1 April 2022
3,641,562
1,828,001
17,435
5,486,998


Additions
12,607
35,715
-
48,322



At 31 March 2023

3,654,169
1,863,716
17,435
5,535,320



Depreciation


At 1 April 2022
745,050
1,283,026
8,718
2,036,794


Charge for the year on owned assets
143,881
137,042
4,359
285,282



At 31 March 2023

888,931
1,420,068
13,077
2,322,076



Net book value



At 31 March 2023
2,765,238
443,648
4,358
3,213,244



At 31 March 2022
2,896,512
544,975
8,717
3,450,204


6.


Stocks

2023
2022
£
£

Stock
3,778,159
2,741,384


Page 7

 
THE WINERY AT HUNDRED HILLS LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

7.


Debtors

2023
2022
£
£

Due after more than one year

Deferred tax asset
760,941
713,273


2023
2022
£
£

Due within one year

Trade debtors
68,807
16,742

Other debtors
9,421
4,591

Prepayments
287,669
3,948

365,897
25,281



8.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
58,032
52,885



9.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
44,565
222,290

Other taxation and social security
4,079
28,338

Other creditors
2,511,710
2,906,427

Accruals and deferred income
1,226,262
1,055,319

3,786,616
4,212,374


Page 8

 
THE WINERY AT HUNDRED HILLS LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

10.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Debentures loans
120,000
120,000

Other loans
1,934,207
-

2,054,207
120,000


The following liabilities were secured:

2023
2022
£
£



Other loans
1,934,207
-

1,934,207
-

Details of security provided:

Other loans of £1,934,207 are secured by a floating charge over all and each part of the charged assets.


11.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£


Amounts falling due 1-2 years

Other loans
1,934,207
-


Amounts falling due after more than 5 years

Debenture loans
120,000
120,000

2,054,207
120,000


Page 9

 
THE WINERY AT HUNDRED HILLS LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

12.


Deferred taxation




2023


£






At beginning of year
713,273


Charged to profit or loss
47,668



At end of year
760,941

The deferred tax asset is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(10,616)
(20,595)

Tax losses carried forward
771,557
733,868

760,941
713,273


13.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



128,155 (2022 - 128,160) Ordinary shares of £0.001000 each
128
128



14.


Related party transactions

At 31 March 2023 the company owed the directors £2,511,710 (2022: £2,906,427). The loans are interest free and repayable on demand.


Page 10