Registered number
10694815
Stanstead Wine Limited
Filleted Accounts
for the year ended 31 March 2023
Stanstead Wine Limited
Registered number: 10694815
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 1,533 1,916
Current assets
Stocks 28,468 27,647
Debtors 4 9,500 9,500
Cash at bank and in hand 4,781 852
42,749 37,999
Creditors: amounts falling due within one year 5 (6,717) (4,602)
Net current assets 36,032 33,397
Total assets less current liabilities 37,565 35,313
Creditors: amounts falling due after more than one year 6 (36,306) (33,946)
Net assets 1,259 1,367
Capital and reserves
Called up share capital 2 2
Profit and loss account 1,257 1,365
Shareholders' funds 1,259 1,367
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Santokh Singh Bhambra
Director
Approved by the board on 8 November 2023
Stanstead Wine Limited
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20% reducing balances
Fixtures, fittings, tools and equipment 20% reducing balances
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2022 1,098 3,800 4,898
At 31 March 2023 1,098 3,800 4,898
Depreciation
At 1 April 2022 738 2,244 2,982
Charge for the year 72 311 383
At 31 March 2023 810 2,555 3,365
Net book value
At 31 March 2023 288 1,245 1,533
At 31 March 2022 360 1,556 1,916
4 Debtors 2023 2022
£ £
Other debtors 9,500 9,500
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 2,263 -
Taxation and social security costs 2,653 2,802
Other creditors 1,801 1,800
6,717 4,602
6 Creditors: amounts falling due after one year 2023 2022
£ £
Other creditors 36,306 33,946
7 Other information
Stanstead Wine Limited is a private company limited by shares and incorporated in England. Its registered office is:
25 Balham High Road
Balham
London
SW12 9AL
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