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REGISTERED NUMBER: SC096050 (Scotland)















Unaudited Financial Statements for the Year Ended 30 April 2023

for

Whighams Wine Cellars Limited

Whighams Wine Cellars Limited (Registered number: SC096050)






Contents of the Financial Statements
for the Year Ended 30 April 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Whighams Wine Cellars Limited

Company Information
for the Year Ended 30 April 2023







DIRECTOR: N M Henderson





REGISTERED OFFICE: Cowan & Partners Limited
60 Constitution Street
Leith
Edinburgh
Lothian
EH6 6RR





REGISTERED NUMBER: SC096050 (Scotland)





ACCOUNTANTS: Cowan & Partners Limited
60 Constitution Street
Edinburgh
EH6 6RR

Whighams Wine Cellars Limited (Registered number: SC096050)

Balance Sheet
30 April 2023

30.4.23 30.4.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 52,771 66,331

CURRENT ASSETS
Stocks 5 22,398 21,101
Debtors 6 68,583 133,434
Cash at bank and in hand 60,455 54,985
151,436 209,520
CREDITORS
Amounts falling due within one year 7 121,786 121,228
NET CURRENT ASSETS 29,650 88,292
TOTAL ASSETS LESS CURRENT
LIABILITIES

82,421

154,623

CREDITORS
Amounts falling due after more than one year 8 (40,000 ) (60,000 )

PROVISIONS FOR LIABILITIES (10,084 ) (9,059 )
NET ASSETS 32,337 85,564

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Share premium 7,065 7,065
Retained earnings 15,272 68,499
SHAREHOLDERS' FUNDS 32,337 85,564

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 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.

Whighams Wine Cellars Limited (Registered number: SC096050)

Balance Sheet - continued
30 April 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 17 January 2024 and were signed by:





N M Henderson - Director


Whighams Wine Cellars Limited (Registered number: SC096050)

Notes to the Financial Statements
for the Year Ended 30 April 2023

1. STATUTORY INFORMATION

Whighams Wine Cellars Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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 represents the net invoiced sale of services and goods, excluding value added tax. The company's policy is to recognise a sale when the company obtains the right to consideration.

Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Property improvements - Over 8 years straight line
Fixtures and fittings- 25% reducing balance
Computer equipment- 33.3% straight line

Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received using the accrual model.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Whighams Wine Cellars Limited (Registered number: SC096050)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

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.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 36 (2022 - NIL ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1 May 2022 149,364 242,333 2,061 393,758
Additions - 6,283 - 6,283
At 30 April 2023 149,364 248,616 2,061 400,041
DEPRECIATION
At 1 May 2022 130,713 195,129 1,585 327,427
Charge for year 6,216 13,372 255 19,843
At 30 April 2023 136,929 208,501 1,840 347,270
NET BOOK VALUE
At 30 April 2023 12,435 40,115 221 52,771
At 30 April 2022 18,651 47,204 476 66,331

No indicators of impairment were noted during the year.

Whighams Wine Cellars Limited (Registered number: SC096050)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

5. STOCKS
30.4.23 30.4.22
£    £   
Stocks 22,398 21,101

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Trade debtors 604 -
Other debtors 67,979 133,434
68,583 133,434

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Bank loans and overdrafts 357 329
Trade creditors 62,484 63,279
Taxation and social security 43,187 44,126
Other creditors 15,758 13,494
121,786 121,228

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.4.23 30.4.22
£    £   
Other creditors 40,000 60,000

9. SECURED DEBTS

The following secured debts are included within creditors:

30.4.23 30.4.22
£    £   
Bank Loan - 80,000

The Bank of Scotland holds a floating charge over the assets of the company.