Company Registration No. 07602956 (England and Wales)
Gergovie Wines Limited
Unaudited financial statements
For the year ended 31 March 2023
Pages for filing with registrar
GERGOVIE WINES LIMITED
Gergovie Wines Limited
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
GERGOVIE WINES LIMITED
Gergovie Wines Limited
BALANCE SHEET
AS AT 31 MARCH 2023
31 March 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
35,088
35,242
Current assets
Stocks
591,973
505,881
Debtors
4
93,002
68,642
Cash at bank and in hand
24,577
88,204
709,552
662,727
Creditors: amounts falling due within one year
5
(397,377)
(309,440)
Net current assets
312,175
353,287
Total assets less current liabilities
347,263
388,529
Creditors: amounts falling due after more than one year
6
(61,364)
(88,637)
Net assets
285,899
299,892
Capital and reserves
Called up share capital
3
3
Profit and loss reserves
285,896
299,889
Total equity
285,899
299,892

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

GERGOVIE WINES LIMITED
Gergovie Wines Limited
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023
31 March 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 18 January 2024 and are signed on its behalf by:
R Hodgson
Director
Company Registration No. 07602956
GERGOVIE WINES LIMITED
Gergovie Wines Limited
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 3 -
1
Accounting policies
1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

1.2
Turnover

Turnover represents bar food and drink sales and wholesale wine sales net of VAT. Bar food and drink sales are recognised at the point of supply to the customer. Wholesale wine sales are recognised at the point of delivery to the customer.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold land and building
25% straight line
Fixtures, fittings & equipment
25% straight line
Computer equipment
33.3% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, those overheads that have been incurred in bringing the stocks to their present location and condition.

1.5
Taxation

The tax expense represents the sum of the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

 

1.6
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

Government grants relating to turnover are recognised as income over the periods when the related costs are incurred. Grants relating to an asset are recognised in income systematically over the asset's expected useful life. If part of such a grant is deferred it is recognised as deferred income rather than being deducted from the asset's carrying amount.

GERGOVIE WINES LIMITED
Gergovie Wines Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 4 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
11
11
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 April 2022
94,303
74,195
168,498
Additions
-
0
19,310
19,310
At 31 March 2023
94,303
93,505
187,808
Depreciation and impairment
At 1 April 2022
74,745
58,511
133,256
Depreciation charged in the year
6,244
13,223
19,467
At 31 March 2023
80,988
71,732
152,720
Carrying amount
At 31 March 2023
13,315
21,773
35,088
At 31 March 2022
19,558
15,684
35,242
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
54,288
49,642
Other debtors
38,714
19,000
93,002
68,642
GERGOVIE WINES LIMITED
Gergovie Wines Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 5 -
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
27,273
27,273
Trade creditors
173,488
170,124
Corporation tax
12,802
15,547
Other taxation and social security
68,281
51,425
Other creditors
115,533
45,071
397,377
309,440
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
61,364
88,637

Bank loans of £88,636 (2022: £115,910) are secured by fixed and floating charges over the company's assets.

7
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023
2022
£
£
Within one year
35,280
32,760
8
Company information

Gergovie Wines Limited is a private company limited by shares incorporated in England and Wales. The registered office and principle place of business is 70 Druid Street, London, SE1 2HQ.

 

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

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