Caseware UK (AP4) 2023.0.135 2023.0.135 2023-10-312023-10-31falsetrue252022-11-01falseNo description of principal activity12 11574500 2022-11-01 2023-10-31 11574500 2021-11-01 2022-10-31 11574500 2023-10-31 11574500 2022-10-31 11574500 c:CompanySecretary1 2022-11-01 2023-10-31 11574500 c:Director1 2022-11-01 2023-10-31 11574500 c:RegisteredOffice 2022-11-01 2023-10-31 11574500 d:PlantMachinery 2022-11-01 2023-10-31 11574500 d:PlantMachinery 2023-10-31 11574500 d:PlantMachinery 2022-10-31 11574500 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 11574500 d:MotorVehicles 2022-11-01 2023-10-31 11574500 d:MotorVehicles 2023-10-31 11574500 d:MotorVehicles 2022-10-31 11574500 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 11574500 d:ComputerEquipment 2022-11-01 2023-10-31 11574500 d:ComputerEquipment 2023-10-31 11574500 d:ComputerEquipment 2022-10-31 11574500 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 11574500 d:OtherPropertyPlantEquipment 2022-11-01 2023-10-31 11574500 d:OtherPropertyPlantEquipment 2023-10-31 11574500 d:OtherPropertyPlantEquipment 2022-10-31 11574500 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 11574500 d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 11574500 d:CurrentFinancialInstruments 2023-10-31 11574500 d:CurrentFinancialInstruments 2022-10-31 11574500 d:CurrentFinancialInstruments d:WithinOneYear 2023-10-31 11574500 d:CurrentFinancialInstruments d:WithinOneYear 2022-10-31 11574500 d:ShareCapital 2023-10-31 11574500 d:ShareCapital 2022-10-31 11574500 d:RetainedEarningsAccumulatedLosses 2023-10-31 11574500 d:RetainedEarningsAccumulatedLosses 2022-10-31 11574500 c:FRS102 2022-11-01 2023-10-31 11574500 c:Audited 2022-11-01 2023-10-31 11574500 c:FullAccounts 2022-11-01 2023-10-31 11574500 c:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 11574500 c:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 iso4217:GBP xbrli:pure
Company registration number: 11574500







FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 OCTOBER 2023


KINSBROOK VINEYARDS LIMITED






































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KINSBROOK VINEYARDS LIMITED
 


 
COMPANY INFORMATION


Director
J M Beckett 




Company secretary
R Dancer



Registered number
11574500



Registered office
Orchard Farmhouse Emms Lane
Brooks Green

Horsham

RH13 0TR




Trading Address
Kinsbrook Vineyard
West Chiltington Road

Thakeham

Pulborough

RH20 2RZ






Independent auditors
Menzies LLP
Chartered Accountants & Statutory Auditor

3000a Parkway

Whiteley

Hampshire

PO15 7FX





 


KINSBROOK VINEYARDS LIMITED
 



CONTENTS



Page
Statement of financial position
1
Notes to the financial statements
2 - 8


 


KINSBROOK VINEYARDS LIMITED
REGISTERED NUMBER:11574500



STATEMENT OF FINANCIAL POSITION
AS AT 31 OCTOBER 2023

2023
2022
£
£

Fixed assets
  

Tangible assets
 4 
137,354
163,959

  
137,354
163,959

Current assets
  

Stocks
  
440,418
365,890

Debtors: amounts falling due within one year
 5 
72,274
69,022

Cash at bank and in hand
  
12,484
44,432

  
525,176
479,344

Creditors: amounts falling due within one year
 6 
(1,227,254)
(926,633)

Net current liabilities
  
 
 
(702,078)
 
 
(447,289)

Total assets less current liabilities
  
(564,724)
(283,330)

Provisions for liabilities
  

Deferred tax
  
(27,547)
(18,203)

  
 
 
(27,547)
 
 
(18,203)

Net liabilities
  
(592,271)
(301,533)


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
(592,272)
(301,534)

  
(592,271)
(301,533)


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




J M Beckett
Director

Date: 25 July 2024

The notes on pages 2 to 8 form part of these financial statements.

Page 1

 


KINSBROOK VINEYARDS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1.


General information

Kinsbrook Vineyards Limited is a private company limited by shares, registered in England. The address of its registered office is disclosed on the company information page. The principal place of business is also disclosed on the company information page.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest pound.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The balance sheet is showing a net liability position. The reason for this is intercompany creditor balances
totalling £592,271 (2022 - £301,533). The company retains the support of the parent entity and fellow subsidiaries within the group.
As such the directors continue to asses that the company is a going concern and have drawn up the accounts
on this basis.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 2

 


KINSBROOK VINEYARDS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Defined benefit pension plan

The Company operates a defined benefit plan for certain employees. A defined benefit plan defines the pension benefit that the employee will receive on retirement, usually dependent upon several factors including but not limited to age, length of service and remuneration. A defined benefit plan is a pension plan that is not a defined contribution plan.

The liability recognised in the Statement of financial position in respect of the defined benefit plan is the present value of the defined benefit obligation at the end of the reporting date less the fair value of plan assets at the reporting date (if any) out of which the obligations are to be settled.

The defined benefit obligation is calculated using the projected unit credit method. Annually the company engages independent actuaries to calculate the obligation. The present value is determined by discounting the estimated future payments using market yields on high quality corporate bonds that are denominated in sterling and that have terms approximating to the estimated period of the future payments ('discount rate').

The fair value of plan assets is measured in accordance with the FRS 102 fair value hierarchy and in accordance with the Company's policy for similarly held assets. This includes the use of appropriate valuation techniques.

Actuarial gains and losses arising from experience adjustments and changes in actuarial assumptions are charged or credited to other comprehensive income. These amounts together with the return on plan assets, less amounts included in net interest, are disclosed as 'Remeasurement of net defined benefit liability'.

The cost of the defined benefit plan, recognised in profit or loss as employee costs, except where included in the cost of an asset, comprises:

a) the increase in net pension benefit liability arising from employee service during the period; and

b) the cost of plan introductions, benefit changes, curtailments and settlements.

The net interest cost is calculated by applying the discount rate to the net balance of the defined benefit obligation and the fair value of plan assets. This cost is recognised in profit or loss as a 'finance expense'.

Page 3

 


KINSBROOK VINEYARDS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, .

Depreciation is provided on the following basis:

Plant and machinery
-
15%
straight line
Motor vehicles
-
25%
straight line
Computer equipment
-
20%
straight line
Vines and trellis
-
20 years vines and 15 years trellis

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 


KINSBROOK VINEYARDS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.12

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of financial position.

Page 5

 


KINSBROOK VINEYARDS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.13

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.


3.


Employees

The average monthly number of employees, including directors, during the year was 25 (2022 - 12).

Page 6

 


KINSBROOK VINEYARDS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Computer equipment
Vines and trellis
Total

£
£
£
£
£



Cost or valuation


At 1 November 2022
95,936
16,000
7,410
62,183
181,529


Additions
8,987
-
-
2,012
10,999


Disposals
-
(16,000)
-
-
(16,000)



At 31 October 2023

104,923
-
7,410
64,195
176,528



Depreciation


At 1 November 2022
9,734
4,000
124
3,712
17,570


Charge for the year on owned assets
20,294
4,000
1,482
3,828
29,604


Disposals
-
(8,000)
-
-
(8,000)



At 31 October 2023

30,028
-
1,606
7,540
39,174



Net book value



At 31 October 2023
74,895
-
5,804
56,655
137,354



At 31 October 2022
86,202
12,000
7,286
58,471
163,959


5.


Debtors

2023
2022
£
£


Trade debtors
5,721
791

Amounts owed by parent company
63,198
63,198

Other debtors
3,355
5,033

72,274
69,022


Page 7

 


KINSBROOK VINEYARDS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
157,038
54,242

Amounts owed to group undertakings
1,008,330
865,435

Other taxation and social security
45,417
5,686

Other creditors
16,469
1,270

1,227,254
926,633



7.


Controlling party

The Company is a wholy owned subsidiary of Beckett's Brook Holding Limited whose registered office is Orchard Farmhouse Emms Lane, Brooks Green, Horsham, West Sussex, England, RH13 0TR.
The smallest and largest company which prepares consolidated accounts in which these figures are included is Beckett's Brook Holding Limited. Which may be obtained from Companies House or on request from the registered office.


8.


Auditors' information

The auditors' report on the financial statements for the year ended 31 October 2023 was qualified.

The qualification in the audit report was as follows:

We have been unable to satisfy ourselves over the valuation of stocks of wine which are included in the balance sheet at £440,418 (2022 - £365,890). The reason for this was that with the very nature of wine production we obtained limited comfort over the allocation over the costs amongst the stages of the process.
Consequently we were unable to determine whether any adjustments to this amount was necessary.

The audit report was signed on 29 July 2024 by Andrew Galliers FCA (Senior statutory auditor) on behalf of Menzies LLP.

 
Page 8