Caseware UK (AP4) 2023.0.135 2023.0.135 2023-10-292023-10-29falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-10-31falseNo description of principal activity66truetrue 06535362 2022-10-31 2023-10-29 06535362 2021-11-01 2022-10-30 06535362 2023-10-29 06535362 2022-10-30 06535362 c:Director1 2022-10-31 2023-10-29 06535362 d:OfficeEquipment 2022-10-31 2023-10-29 06535362 d:OfficeEquipment 2023-10-29 06535362 d:OfficeEquipment 2022-10-30 06535362 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-10-31 2023-10-29 06535362 d:CurrentFinancialInstruments 2023-10-29 06535362 d:CurrentFinancialInstruments 2022-10-30 06535362 d:Non-currentFinancialInstruments 2023-10-29 06535362 d:Non-currentFinancialInstruments 2022-10-30 06535362 d:CurrentFinancialInstruments d:WithinOneYear 2023-10-29 06535362 d:CurrentFinancialInstruments d:WithinOneYear 2022-10-30 06535362 d:Non-currentFinancialInstruments d:AfterOneYear 2023-10-29 06535362 d:Non-currentFinancialInstruments d:AfterOneYear 2022-10-30 06535362 d:ShareCapital 2023-10-29 06535362 d:ShareCapital 2022-10-30 06535362 d:RetainedEarningsAccumulatedLosses 2023-10-29 06535362 d:RetainedEarningsAccumulatedLosses 2022-10-30 06535362 c:FRS102 2022-10-31 2023-10-29 06535362 c:AuditExempt-NoAccountantsReport 2022-10-31 2023-10-29 06535362 c:FullAccounts 2022-10-31 2023-10-29 06535362 c:PrivateLimitedCompanyLtd 2022-10-31 2023-10-29 06535362 6 2022-10-31 2023-10-29 06535362 e:PoundSterling 2022-10-31 2023-10-29 iso4217:GBP xbrli:pure

Registered number: 06535362










HG WINE LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 29 OCTOBER 2023

 
HG WINE LIMITED
REGISTERED NUMBER: 06535362

BALANCE SHEET
AS AT 29 OCTOBER 2023

29 October
30 October
2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
3,782
7,619

Investments
 5 
838
838

  
4,620
8,457

Current assets
  

Stocks
 6 
375,984
240,863

Debtors: amounts falling due within one year
 7 
723,439
556,423

Cash at bank and in hand
  
765
20,880

  
1,100,188
818,166

Creditors: amounts falling due within one year
 8 
(762,234)
(457,711)

Net current assets
  
 
 
337,954
 
 
360,455

Total assets less current liabilities
  
342,574
368,912

Creditors: amounts falling due after more than one year
 9 
(17,500)
(27,500)

  

Net assets
  
325,074
341,412


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
325,072
341,410

  
325,074
341,412


Page 1

 
HG WINE LIMITED
REGISTERED NUMBER: 06535362
    
BALANCE SHEET (CONTINUED)
AS AT 29 OCTOBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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 profit and loss account 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 on 25 July 2024.



C J Gosling
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
HG WINE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 OCTOBER 2023

1.


General information

HG Wine Limited, registered number 06535362, is a private company limited by share capital, incorporated in England and Wales. The address of the registered office is 26 St. John Street, London, EC1M 4AY. The principal place of business is 26 St. John Street, London, EC1M 4AY.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are presented in Sterling (£). All amounts in the financial statements have been rounded to the nearest £1.

The following principal accounting policies have been applied:

 
2.2

Going concern

Having reviewed the financial statements and cash flows of the business, the directors have formed a judgement that there is a reasonable expectation that the Company has the necessary profitability, working capital inflow and funding capacity to continue operations for at least 12 months from the date of approval of these financial statements. Therefore, they are prepared on a going concern basis.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.4

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. Revenue is recognised at the point of sale.

Page 3

 
HG WINE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 OCTOBER 2023

2.Accounting policies (continued)

 
2.5

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.

 
2.6

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 Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Taxation

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 balance sheet date in the countries where the Company operates and generates income.

Page 4

 
HG WINE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 OCTOBER 2023

2.Accounting policies (continued)

 
2.8

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, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
20%

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.

 
2.9

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.10

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 balance sheet 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.

 
2.11

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.

 
2.12

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.

 
2.13

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.

Page 5

 
HG WINE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 OCTOBER 2023

2.Accounting policies (continued)

 
2.14

Financial instruments

The Company only enters into basic financial instrument transactions that result in recognistion of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.15

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the period was 6 (2022 - 6).


4.


Tangible fixed assets







Office equipment

£



Cost or valuation


At 31 October 2022
33,375


Additions
2,056



At 29 October 2023

35,431



Depreciation


At 30 October 2022
25,756


Charge for the period on owned assets
5,893



At 29 October 2023

31,649



Net book value



At 29 October 2023
3,782



At 30 October 2022
7,619

Page 6

 
HG WINE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 OCTOBER 2023

5.


Fixed asset investments








Investments in subsidiary companies

£



Cost or valuation


At 30 October 2022
838



At 29 October 2023
838





6.


Stocks

29 October
30 October
2023
2022
£
£

Raw materials and consumables
375,984
240,863

375,984
240,863



7.


Debtors

29 October
30 October
2023
2022
£
£


Trade debtors
276,137
132,327

Amounts owed by group undertakings
412,219
412,646

Prepayments and accrued income
35,083
11,450

723,439
556,423


Page 7

 
HG WINE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 OCTOBER 2023

8.


Creditors: Amounts falling due within one year

29 October
30 October
2023
2022
£
£

Bank loans
10,000
10,000

Trade creditors
307,370
223,095

Amounts owed to group undertakings
204,731
45,645

Corporation tax
66,563
46,890

Other taxation and social security
86,359
76,926

Other creditors
-
2,563

Accruals and deferred income
87,211
52,592

762,234
457,711



9.


Creditors: Amounts falling due after more than one year

29 October
30 October
2023
2022
£
£

Bank loans
17,500
27,500

17,500
27,500


The bank loan is supported by the Bounce Back Loan Scheme (BBLS) recieved in 2020. In relation to the first 12 months from the date on which the loan is drawn the interest rate applicable during the period is, in effect, 0%. After this date, the bank loan incurs interest at 2.5% annually. The loan is repayable in full in 2026 with repayments of £2,500 per quarter required.


10.


Related party transactions

At the year end, the company owed £204,730.81 (2022: £45,645) to St. John Restaurant Company Limited, a company under common control.
At the year end the company was owed £214,616.83 (2022: £4,031) from St. John Bakery Company Limited, a company under common control.
At the year end the company was owed £nil (2022: £16,664) from St. John Marylebone Limited, a company under common control.
At the year end the company was owed £412,218.73 (2022: £391,950) from HG Vins, a company under common control.


11.


Controlling party

The ultimate controlling party is Trevor Gulliver. 

Page 8