4 false false false false false false false false false false true false false false false false false No description of principal activity 2022-02-27 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 11851660 2022-02-27 2023-02-26 11851660 2023-02-26 11851660 2022-02-26 11851660 2021-02-28 2022-02-26 11851660 2022-02-26 11851660 2021-02-27 11851660 core:MotorVehicles 2022-02-27 2023-02-26 11851660 bus:LeadAgentIfApplicable 2022-02-27 2023-02-26 11851660 bus:Director1 2022-02-27 2023-02-26 11851660 core:MotorVehicles 2022-02-26 11851660 core:WithinOneYear 2023-02-26 11851660 core:WithinOneYear 2022-02-26 11851660 core:AfterOneYear 2023-02-26 11851660 core:AfterOneYear 2022-02-26 11851660 core:ShareCapital 2023-02-26 11851660 core:ShareCapital 2022-02-26 11851660 core:RetainedEarningsAccumulatedLosses 2023-02-26 11851660 core:RetainedEarningsAccumulatedLosses 2022-02-26 11851660 core:MotorVehicles 2022-02-26 11851660 bus:SmallEntities 2022-02-27 2023-02-26 11851660 bus:AuditExemptWithAccountantsReport 2022-02-27 2023-02-26 11851660 bus:SmallCompaniesRegimeForAccounts 2022-02-27 2023-02-26 11851660 bus:PrivateLimitedCompanyLtd 2022-02-27 2023-02-26 11851660 bus:FullAccounts 2022-02-27 2023-02-26
COMPANY REGISTRATION NUMBER: 11851660
Wall2Wall Wines Limited
Filleted Unaudited Financial Statements
For the year ended
26 February 2023
Wall2Wall Wines Limited
Financial Statements
Year ended 26 February 2023
Contents
Page
Chartered accountant's report to the board of directors on the preparation of the unaudited statutory financial statements
1
Statement of financial position
2
Notes to the financial statements
4
Wall2Wall Wines Limited
Chartered Accountant's Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Wall2Wall Wines Limited
Year ended 26 February 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Wall2Wall Wines Limited for the year ended 26 February 2023, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. Our work has been undertaken in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation.
CLAY SHAW THOMAS LTD Chartered accountants
2 Oldfield Road Bocam Park Bridgend CF35 5LJ
8 March 2024
Wall2Wall Wines Limited
Statement of Financial Position
26 February 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
4
3,899
18,224
Current assets
Stocks
20,000
50,180
Cash at bank and in hand
14,816
24,589
--------
--------
34,816
74,769
Creditors: amounts falling due within one year
5
126,197
124,688
---------
---------
Net current liabilities
91,381
49,919
--------
--------
Total assets less current liabilities
( 87,482)
( 31,695)
Creditors: amounts falling due after more than one year
6
35,185
40,741
---------
--------
Net liabilities
( 122,667)
( 72,436)
---------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 122,767)
( 72,536)
---------
--------
Shareholders deficit
( 122,667)
( 72,436)
---------
--------
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 Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the year ending 26 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- 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 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Wall2Wall Wines Limited
Statement of Financial Position (continued)
26 February 2023
These financial statements were approved by the board of directors and authorised for issue on 8 March 2024 , and are signed on behalf of the board by:
Mr J H Wall
Director
Company registration number: 11851660
Wall2Wall Wines Limited
Notes to the Financial Statements
Year ended 26 February 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 2 Oldfield Road, Bocam Park, Bridgend, CF35 5LJ.
2. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The directors have assessed whether there are any material uncertainties that may cast significant doubt about the company's ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue. In assessing whether the going concern assumption is appropriate, the directors have taken in to account all available information about the future, and conclude that the company has adequate resources to to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Motor vehicles
-
25% reducing balance
Equipment
-
25 % reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured 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 the stock to its present location and condition.
Financial instruments
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
3. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2022: 3 ).
4. Tangible assets
Motor vehicles
Equipment
Total
£
£
£
Cost
At 27 February 2022
17,363
11,099
28,462
Disposals
( 17,363)
( 17,363)
--------
--------
--------
At 26 February 2023
11,099
11,099
--------
--------
--------
Depreciation
At 27 February 2022
4,341
5,897
10,238
Charge for the year
1,356
1,303
2,659
Disposals
( 5,697)
( 5,697)
--------
--------
--------
At 26 February 2023
7,200
7,200
--------
--------
--------
Carrying amount
At 26 February 2023
3,899
3,899
--------
--------
--------
At 26 February 2022
13,022
5,202
18,224
--------
--------
--------
5. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
5,556
5,556
Trade creditors
2,244
Social security and other taxes
10,318
3,137
Net Wages
1,616
Other creditors
108,079
114,379
---------
---------
126,197
124,688
---------
---------
6. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
35,185
40,741
--------
--------
Included within creditors: amounts falling due after more than one year is an amount of £12,963 (2022: £18,519) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.