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Company No: 02621795 (England and Wales)

CAUSEMIGHT (TRADING AS ODD BOTTLE VINTNERS) LIMITED

Unaudited Financial Statements
For the financial year ended 30 June 2023
Pages for filing with the registrar

CAUSEMIGHT (TRADING AS ODD BOTTLE VINTNERS) LIMITED

Unaudited Financial Statements

For the financial year ended 30 June 2023

Contents

CAUSEMIGHT (TRADING AS ODD BOTTLE VINTNERS) LIMITED

COMPANY INFORMATION

For the financial year ended 30 June 2023
CAUSEMIGHT (TRADING AS ODD BOTTLE VINTNERS) LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 30 June 2023
DIRECTORS Stuart Duncan Edwards
Brian Keith Towe
SECRETARY Stuart Duncan Edwards
REGISTERED OFFICE C/O Praxis
1 Poultry
London
EC2R 8EJ
United Kingdom
COMPANY NUMBER 02621795 (England and Wales)
ACCOUNTANT Praxis
1 Poultry
London
EC2R 8EJ
United Kingdom
CAUSEMIGHT (TRADING AS ODD BOTTLE VINTNERS) LIMITED

BALANCE SHEET

As at 30 June 2023
CAUSEMIGHT (TRADING AS ODD BOTTLE VINTNERS) LIMITED

BALANCE SHEET (continued)

As at 30 June 2023
Note 2023 2022
£ £
Current assets
Stocks 4 4,586 5,186
Cash at bank and in hand 2,871 5,961
7,457 11,147
Creditors: amounts falling due within one year 5 ( 32,887) ( 34,536)
Net current liabilities (25,430) (23,389)
Total assets less current liabilities (25,430) (23,389)
Net liabilities ( 25,430) ( 23,389)
Capital and reserves
Called-up share capital 6 68 68
Capital redemption reserve 34 34
Profit and loss account ( 25,532 ) ( 23,491 )
Total shareholders' deficit ( 25,430) ( 23,389)

For the financial year ending 30 June 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Causemight (Trading as Odd Bottle Vintners) Limited (registered number: 02621795) were approved and authorised for issue by the Board of Directors on 11 October 2023. They were signed on its behalf by:

Stuart Duncan Edwards
Director
CAUSEMIGHT (TRADING AS ODD BOTTLE VINTNERS) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2023
CAUSEMIGHT (TRADING AS ODD BOTTLE VINTNERS) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Causemight (Trading as Odd Bottle Vintners) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Praxis, 1 Poultry, London, EC2R 8EJ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors note that the business has net liabilities of £25,430. The Company is supported through loans from the directors. The directors have confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the directors will continue to support the Company. Given the current position, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

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.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

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.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 0 0

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 July 2022 175 175
At 30 June 2023 175 175
Accumulated depreciation
At 01 July 2022 175 175
At 30 June 2023 175 175
Net book value
At 30 June 2023 0 0
At 30 June 2022 0 0

4. Stocks

2023 2022
£ £
Stocks 4,586 5,186

There are no material differences between the replacement cost of stock and the Balance Sheet amounts.

5. Creditors: amounts falling due within one year

2023 2022
£ £
Other taxation and social security 1,267 1,045
Other creditors 31,620 33,491
32,887 34,536

There are no amounts included above in respect of which any security has been given by the small entity.

Amounts owed to directors totalling £29,764 (2022: £32,257) are repayable on demand and do not bear interest.

6. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
68 Ordinary shares of £ 1.00 each 68 68

7. Financial commitments

The Company had no material financial commitments at the year ended 30 June 2023.

8. Events after the Balance Sheet date

There have been no events after the balance sheet date affecting the Company since the financial year.