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REGISTERED NUMBER: 04986256 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2022

for

Retsina Limited

Retsina Limited (Registered number: 04986256)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Retsina Limited

Company Information
for the Year Ended 31 December 2022







DIRECTOR: K Dali-Bey





SECRETARY: Mrs W Dali Bey





REGISTERED OFFICE: 73a Derby Lane
Old Swan
Liverpool
Merseyside
L13 6QF





REGISTERED NUMBER: 04986256 (England and Wales)





ACCOUNTANTS: Lucas Reis Ltd
Chartered Accountants
Lansdowne House
85 Buxton Road
Stockport
Cheshire
SK2 6LR

Retsina Limited (Registered number: 04986256)

Balance Sheet
31 December 2022

31.12.22 31.12.21
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 12,456 13,877
12,456 13,877

CURRENT ASSETS
Stocks 1,146 1,204
Debtors 6 - 359
Cash at bank and in hand 650 6,222
1,796 7,785
CREDITORS
Amounts falling due within one year 7 11,579 8,024
NET CURRENT LIABILITIES (9,783 ) (239 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,673

13,638

CREDITORS
Amounts falling due after more than one
year

8

(14,806

)

(19,031

)

PROVISIONS FOR LIABILITIES (242 ) (274 )
NET LIABILITIES (12,375 ) (5,667 )

Retsina Limited (Registered number: 04986256)

Balance Sheet - continued
31 December 2022

31.12.22 31.12.21
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 9 2 2
Retained earnings 10 (12,377 ) (5,669 )
SHAREHOLDERS' FUNDS (12,375 ) (5,667 )

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

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

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 October 2023 and were signed by:





K Dali-Bey - Director


Retsina Limited (Registered number: 04986256)

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

1. STATUTORY INFORMATION

Retsina 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
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of the business, is being amortised evenly over its estimated useful life of five years from introduction of FRS 102.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - at variable rates on reducing balance
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 10% on reducing balance

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 Statement of Income and Retained Earnings, 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.


Retsina Limited (Registered number: 04986256)

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

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
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 3 (2021 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2022
and 31 December 2022 1,000
AMORTISATION
At 1 January 2022
and 31 December 2022 1,000
NET BOOK VALUE
At 31 December 2022 -
At 31 December 2021 -

Retsina Limited (Registered number: 04986256)

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

5. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and
leasehold machinery fittings Totals
£    £    £    £   
COST
At 1 January 2022
and 31 December 2022 24,166 7,641 8,537 40,344
DEPRECIATION
At 1 January 2022 11,960 6,727 7,780 26,467
Charge for year 1,208 137 76 1,421
At 31 December 2022 13,168 6,864 7,856 27,888
NET BOOK VALUE
At 31 December 2022 10,998 777 681 12,456
At 31 December 2021 12,206 914 757 13,877

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Prepayments and accrued income - 359

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Bank loans and overdrafts 4,077 -
Tax - 509
Social security and other taxes 13 95
Directors loan account 1,340 1,583
Accruals and deferred income 6,149 5,837
11,579 8,024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.12.22 31.12.21
£    £   
Bank loans - 2-5 years 14,806 19,031

Retsina Limited (Registered number: 04986256)

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

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.22 31.12.21
value: £    £   
2 Ordinary 1 2 2

10. RESERVES
Retained
earnings
£   

At 1 January 2022 (5,669 )
Deficit for the year (6,708 )
At 31 December 2022 (12,377 )

11. ULTIMATE CONTROLLING PARTY

During the current and previous year the company was under the control of Mr & Mrs Dali Bey by virtue of their ownership of all of the ordinary share capital of the company.