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REGISTERED NUMBER: 09480047 (England and Wales)
















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Wight Spirits Limited

Wight Spirits Limited (Registered number: 09480047)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Chartered Certified Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


Wight Spirits Limited

Company Information
for the Year Ended 31 March 2023







DIRECTOR: Mrs E M Gauntlett





REGISTERED OFFICE: Rosemary Vineyard
Smallbrook Lane
Ryde
Isle of Wight
PO33 4BE





REGISTERED NUMBER: 09480047 (England and Wales)





ACCOUNTANTS: Chandler and Partners Limited T/A
Matthew Squire & Company
5 Moor Street
Worcester
Worcestershire
WR1 3DB

Chartered Certified Accountants' Report to the Director
on the Unaudited Financial Statements of
Wight Spirits Limited

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Wight Spirits Limited for the year ended 31 March 2023 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the director of Wight Spirits Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Wight Spirits Limited and state those matters that we have agreed to state to the director of Wight Spirits Limited in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Wight Spirits Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Wight Spirits Limited. You consider that Wight Spirits Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Wight Spirits Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Chandler and Partners Limited T/A
Matthew Squire & Company
5 Moor Street
Worcester
Worcestershire
WR1 3DB


Date: .............................................

Wight Spirits Limited (Registered number: 09480047)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 183,601 122,666

CURRENT ASSETS
Stocks 13,628 16,160
Debtors 5 27,011 85,515
Cash at bank and in hand 20,619 7,850
61,258 109,525
CREDITORS
Amounts falling due within one year 6 114,788 90,165
NET CURRENT (LIABILITIES)/ASSETS (53,530 ) 19,360
TOTAL ASSETS LESS CURRENT
LIABILITIES

130,071

142,026

CREDITORS
Amounts falling due after more than one
year

7

60,408

31,792
NET ASSETS 69,663 110,234

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 69,662 110,233
69,663 110,234

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

Wight Spirits Limited (Registered number: 09480047)

Balance Sheet - continued
31 March 2023


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 15 November 2023 and were signed by:





Mrs E M Gauntlett - Director


Wight Spirits Limited (Registered number: 09480047)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Wight Spirits 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost
Fixtures and fittings - 10% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 27 (2022 - 27 ) .

Wight Spirits Limited (Registered number: 09480047)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 April 2022 57,217 157,631 214,848
Additions 85,604 6,426 92,030
At 31 March 2023 142,821 164,057 306,878
DEPRECIATION
At 1 April 2022 38,755 53,427 92,182
Charge for year 14,871 16,224 31,095
At 31 March 2023 53,626 69,651 123,277
NET BOOK VALUE
At 31 March 2023 89,195 94,406 183,601
At 31 March 2022 18,462 104,204 122,666

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 1,243 1,078
Other debtors - 25,000
Directors' current accounts 9,169 58,535
VAT 2,091 882
Prepayments 14,508 20
27,011 85,515

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 9,891 9,864
Hire purchase contracts 11,045 -
Trade creditors 64,711 46,795
Tax 15,887 21,476
Social security and other taxes 11,484 7,258
Other creditors 370 211
Loan from Rosemary Vineyard - 3,161
Accrued expenses 1,400 1,400
114,788 90,165

Wight Spirits Limited (Registered number: 09480047)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loans - 1-2 years 10,138 9,887
Bank loans - 2-5 years 11,614 21,905
Hire purchase contracts 38,656 -
60,408 31,792