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Company Registration No. 11918606 (England and Wales)
Madeera Wines Ltd Unaudited accounts for the year ended 30 April 2023
Madeera Wines Ltd Unaudited accounts Contents
Page
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Madeera Wines Ltd Company Information for the year ended 30 April 2023
Director
Dr M Gupta
Company Number
11918606 (England and Wales)
Registered Office
127 New Brighton Road Emsworth Hampshire PO10 7SY
Accountants
Babcock Tax & Accountancy Services Ltd The Florins, 8 Lulworth Close Hayling Island Hampshire PO11 0NY
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Madeera Wines Ltd Statement of financial position as at 30 April 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
1 
1 
Current assets
Inventories
30,672 
68,852 
Debtors
6,157 
2,766 
Cash at bank and in hand
7,828 
17,777 
44,657 
89,395 
Creditors: amounts falling due within one year
(7,476)
(26,317)
Net current assets
37,181 
63,078 
Total assets less current liabilities
37,182 
63,079 
Creditors: amounts falling due after more than one year
(141,065)
(147,994)
Net liabilities
(103,883)
(84,915)
Capital and reserves
Called up share capital
3 
3 
Profit and loss account
(103,886)
(84,918)
Shareholders' funds
(103,883)
(84,915)
For the year ending 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 31 October 2023 and were signed on its behalf by
Dr M Gupta Director Company Registration No. 11918606
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Madeera Wines Ltd Notes to the Accounts for the year ended 30 April 2023
1
Statutory information
Madeera Wines Ltd is a private company, limited by shares, registered in England and Wales, registration number 11918606. The registered office is 127 New Brighton Road, Emsworth, Hampshire, PO10 7SY.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives: Computer Equipment - 33% on cost
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable to the company's pension scheme are charged to the profit and loss account in the period to which they relate.
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Madeera Wines Ltd Notes to the Accounts for the year ended 30 April 2023
Taxation
Taxation for the year compromises 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.
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
4
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 1 May 2022
305 
At 30 April 2023
305 
Depreciation
At 1 May 2022
304 
At 30 April 2023
304 
Net book value
At 30 April 2023
1 
At 30 April 2022
1 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
6,157 
2,764 
Other debtors
- 
2 
6,157 
2,766 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
- 
11,564 
Trade creditors
- 
6,422 
Taxes and social security
1,826 
2,783 
Other creditors
5,000 
5,548 
Accruals
650 
- 
7,476 
26,317 
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Madeera Wines Ltd Notes to the Accounts for the year ended 30 April 2023
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
- 
78,927 
Amounts owed to group undertakings and other participating interests
42,000 
- 
Other creditors
99,065 
69,067 
141,065 
147,994 
8
Average number of employees
During the year the average number of employees was 0 (2022: 2).
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