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REGISTERED NUMBER: 03716022 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 September 2023

for

Frank Stainton Wines Ltd

Frank Stainton Wines Ltd (Registered number: 03716022)






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




Page

Balance Sheet 1

Notes to the Financial Statements 3


Frank Stainton Wines Ltd (Registered number: 03716022)

Balance Sheet
30 September 2023

30.9.23 30.9.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 493,450 516,161
493,450 516,161

CURRENT ASSETS
Stocks 511,311 539,540
Debtors 6 339,524 234,761
Cash at bank and in hand 249,327 319,300
1,100,162 1,093,601
CREDITORS
Amounts falling due within one year 7 257,025 338,110
NET CURRENT ASSETS 843,137 755,491
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,336,587

1,271,652

CREDITORS
Amounts falling due after more than one
year

8

(418,333

)

(410,604

)

PROVISIONS FOR LIABILITIES (12,895 ) (14,585 )
NET ASSETS 905,359 846,463

CAPITAL AND RESERVES
Called up share capital 12,500 11,000
Retained earnings 892,859 835,463
905,359 846,463

Frank Stainton Wines Ltd (Registered number: 03716022)

Balance Sheet - continued
30 September 2023


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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Board of Directors and authorised for issue on 9 January 2024 and were signed on its behalf by:





F E Stainton - Director


Frank Stainton Wines Ltd (Registered number: 03716022)

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

1. STATUTORY INFORMATION

Frank Stainton Wines Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 03716022

Registered office: 1 Station Yard
Station Road
Kendal
Cumbria
LA9 6BT

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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 1999, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - Straight line over 50 years
Fixtures and fittings - 33% on cost and 15% on reducing balance
Motor vehicles - 25% on reducing balance

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

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.


Frank Stainton Wines Ltd (Registered number: 03716022)

Notes to the Financial Statements - continued
for the Year Ended 30 September 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 October 2022
and 30 September 2023 250,000
AMORTISATION
At 1 October 2022
and 30 September 2023 250,000
NET BOOK VALUE
At 30 September 2023 -
At 30 September 2022 -

Frank Stainton Wines Ltd (Registered number: 03716022)

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

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor
property fittings vehicles Totals
£    £    £    £   
COST
At 1 October 2022 740,374 30,858 68,335 839,567
Additions - 1,050 - 1,050
At 30 September 2023 740,374 31,908 68,335 840,617
DEPRECIATION
At 1 October 2022 263,315 22,482 37,609 323,406
Charge for year 14,807 1,271 7,683 23,761
At 30 September 2023 278,122 23,753 45,292 347,167
NET BOOK VALUE
At 30 September 2023 462,252 8,155 23,043 493,450
At 30 September 2022 477,059 8,376 30,726 516,161

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Trade debtors 330,302 227,471
Other debtors 9,222 7,290
339,524 234,761

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 2,271 5,450
Trade creditors 90,032 140,260
Taxation and social security 72,544 61,472
Other creditors 82,178 120,928
257,025 338,110

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.23 30.9.22
£    £   
Bank loans 18,333 28,333
Hire purchase contracts - 2,271
Other creditors 400,000 380,000
418,333 410,604

Other creditors includes £400,000 redeemable B preference shares which carry a 2% dividend.

Frank Stainton Wines Ltd (Registered number: 03716022)

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

9. RELATED PARTY DISCLOSURES

The company has a loan from Mr & Mrs Stainton on which it pays interest at 1% over the bank rate. At the Balance Sheet date the amount due to Mr & Mrs Stainton was £Nil (2022 - £380,000)