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REGISTERED NUMBER: 09006861 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MAY 2023

FOR

CRANVILLE WINE RACKS LIMITED

CRANVILLE WINE RACKS LIMITED (REGISTERED NUMBER: 09006861)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MAY 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


CRANVILLE WINE RACKS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MAY 2023







DIRECTORS: Mrs T M Farrington
K F Farrington





SECRETARY: K F Farrington





REGISTERED OFFICE: Unit C Firs Farm West End
Stagsden
Bedford
Bedfordshire
MK43 8TB





REGISTERED NUMBER: 09006861 (England and Wales)





ACCOUNTANTS: Camfield Chapman Lowe
9 High Street
Woburn Sands
Milton Keynes
Buckinghamshire
MK17 8RF

CRANVILLE WINE RACKS LIMITED (REGISTERED NUMBER: 09006861)

STATEMENT OF FINANCIAL POSITION
31ST MAY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 19,551 24,528

CURRENT ASSETS
Stocks 87,300 86,139
Debtors 5 11,093 10,515
Cash at bank 353 1,170
98,746 97,824
CREDITORS
Amounts falling due within one year 6 79,572 64,761
NET CURRENT ASSETS 19,174 33,063
TOTAL ASSETS LESS CURRENT
LIABILITIES

38,725

57,591

CREDITORS
Amounts falling due after more than one
year

7

(6,117

)

(8,741

)

PROVISIONS FOR LIABILITIES (3,715 ) (4,660 )
NET ASSETS 28,893 44,190

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 28,793 44,090
SHAREHOLDERS' FUNDS 28,893 44,190

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 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.

CRANVILLE WINE RACKS LIMITED (REGISTERED NUMBER: 09006861)

STATEMENT OF FINANCIAL POSITION - continued
31ST MAY 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 Board of Directors and authorised for issue on 31st January 2024 and were signed on its behalf by:





K F Farrington - Director


CRANVILLE WINE RACKS LIMITED (REGISTERED NUMBER: 09006861)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MAY 2023

1. STATUTORY INFORMATION

Cranville Wine Racks 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 25% 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 Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

CRANVILLE WINE RACKS LIMITED (REGISTERED NUMBER: 09006861)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MAY 2023

2. ACCOUNTING POLICIES - continued

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 - 5 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1st June 2022 51,645 1,140 19,351 72,136
Additions 584 - - 584
At 31st May 2023 52,229 1,140 19,351 72,720
DEPRECIATION
At 1st June 2022 38,275 347 8,986 47,608
Charge for year 2,771 199 2,591 5,561
At 31st May 2023 41,046 546 11,577 53,169
NET BOOK VALUE
At 31st May 2023 11,183 594 7,774 19,551
At 31st May 2022 13,370 793 10,365 24,528

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1st June 2022
and 31st May 2023 8,995
DEPRECIATION
At 1st June 2022 4,779
Charge for year 1,054
At 31st May 2023 5,833
NET BOOK VALUE
At 31st May 2023 3,162
At 31st May 2022 4,216

CRANVILLE WINE RACKS LIMITED (REGISTERED NUMBER: 09006861)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MAY 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 9,008 7,440
Other debtors 2,085 3,075
11,093 10,515

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 9,363 3,025
Hire purchase contracts 1,126 2,251
Trade creditors 30,864 37,610
Taxation and social security 5,738 1,359
Other creditors 32,481 20,516
79,572 64,761

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts - 741
Other creditors 6,117 8,000
6,117 8,741