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Registered Number: 11362084
England and Wales

 

 

 

WINE CIRCLE LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 June 2022

End date: 31 May 2023
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 69,828    80,279 
69,828    80,279 
Current assets      
Stocks 31,950    47,341 
Debtors 42,481    122,887 
Cash at bank and in hand 649    1,007 
75,080    171,235 
Creditors: amount falling due within one year (102,456)   (63,648)
Net current liabilities (27,376)   107,587 
 
Total assets less current liabilities 42,452    187,866 
Creditors: amount falling due after more than one year (113,871)   (132,462)
Net liabilities (71,419)   55,404 
 

Capital and reserves
     
Called up share capital 4 100    100 
Profit and loss account (71,519)   55,304 
Shareholder's funds (71,419)   55,404 
 


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

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006 the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 22 February 2024 and were signed by:


-------------------------------
Christine Land
Director
1
General Information
Wine Circle Limited is a private company, limited by shares, registered in England and Wales, registration number 11362084, registration address 13 Station Parade, Virginia Water, Surrey, GU25 4AB.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102(1A) The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared on the going concern basis and under the historical cost convention.
Going concern basis
These accounts have been prepared on the going concern basis, on the understanding that the directors and shareholders will continue to financially support the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Tangible fixed assets
Tangible fixed assets are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures and Fittings 15% Reducing Balance
Computer Equipment 25% 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. 
2.

Average number of employees

Average number of employees during the year was 4 (2022 : 14).
3.

Tangible fixed assets

Cost or valuation Land and Buildings   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £
At 01 June 2022 12,138    113,903    5,116    131,157 
Additions      
Disposals      
At 31 May 2023 12,138    113,903    5,116    131,157 
Depreciation
At 01 June 2022   48,063    2,815    50,878 
Charge for year   9,876    575    10,451 
On disposals      
At 31 May 2023   57,939    3,390    61,329 
Net book values
Closing balance as at 31 May 2023 12,138    55,964    1,726    69,828 
Opening balance as at 01 June 2022 12,138    65,840    2,301    80,279 


4.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
100 Ordinary shares of £1.00 each 100    100 
100    100 

2