Registered number
06406680
MAUD HEATH WINE TRADING LIMITED
Filleted Accounts
31 March 2023
MAUD HEATH WINE TRADING LIMITED
Registered number: 06406680
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 145,227 146,778
Current assets
Stocks 187,964 187,964
Debtors 4 20,727 20,727
Cash at bank and in hand 300 300
208,991 208,991
Creditors: amounts falling due within one year 5 (407,996) (389,098)
Net current liabilities (199,005) (180,107)
Total assets less current liabilities (53,778) (33,329)
Creditors: amounts falling due after more than one year 6 (23,663) (24,477)
Net liabilities (77,441) (57,806)
Capital and reserves
Called up share capital 2 2
Profit and loss account (77,443) (57,808)
Shareholders' funds (77,441) (57,806)
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.
M W Bateman
Director
Approved by the board on 4 March 2024
MAUD HEATH WINE TRADING 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. 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
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 25% Reducing Balance Method
Fixtures, fittings, tools and equipment 25% Reducing Balance Method
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. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company - 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2022 166,521
At 31 March 2023 166,521
Depreciation
At 1 April 2022 19,743
Charge for the year 1,551
At 31 March 2023 21,294
Net book value
At 31 March 2023 145,227
At 31 March 2022 146,778
4 Debtors 2023 2022
£ £
Trade debtors 2,927 2,927
Other debtors 17,800 17,800
20,727 20,727
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 42,023 9,755
Trade creditors 7,909 9,317
Taxation and social security costs 4,249 8,657
Accruals 2,025 2,025
Amounts due to Connected Companies 349,419 352,159
Other creditors 2,371 7,185
407,996 389,098
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 23,663 24,477
7 Controlling party
The company is ultimately controlled by M W Bateman Esq, who is a Director and Shareholder of the company's holding company, The Garden Edge Farm Ltd
8 Other information
MAUD HEATH WINE TRADING LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Wick Bridge Farm
Wick Hill
Bremhill
Calne
SN11 9LQ
MAUD HEATH WINE TRADING LIMITED 06406680 false 2022-04-01 2023-03-31 2023-03-31 VT Final Accounts April 2022 M W Bateman No description of principal activity 06406680 2021-04-01 2022-03-31 06406680 core:WithinOneYear 2022-03-31 06406680 core:AfterOneYear 2022-03-31 06406680 core:ShareCapital 2022-03-31 06406680 core:RetainedEarningsAccumulatedLosses 2022-03-31 06406680 2022-04-01 2023-03-31 06406680 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 06406680 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 06406680 bus:Director40 2022-04-01 2023-03-31 06406680 1 2022-04-01 2023-03-31 06406680 2 2022-04-01 2023-03-31 06406680 core:PlantMachinery 2022-04-01 2023-03-31 06406680 countries:England 2022-04-01 2023-03-31 06406680 bus:FRS102 2022-04-01 2023-03-31 06406680 bus:FullAccounts 2022-04-01 2023-03-31 06406680 2023-03-31 06406680 core:WithinOneYear 2023-03-31 06406680 core:AfterOneYear 2023-03-31 06406680 core:ShareCapital 2023-03-31 06406680 core:RetainedEarningsAccumulatedLosses 2023-03-31 06406680 core:PlantMachinery 2023-03-31 06406680 2022-03-31 06406680 core:PlantMachinery 2022-03-31 iso4217:GBP xbrli:pure