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REGISTERED NUMBER: 06218068 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 January 2024

for

Saxtys Wines Limited

Saxtys Wines Limited (Registered number: 06218068)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Saxtys Wines Limited

Company Information
for the Year Ended 31 January 2024







DIRECTOR: E N R Symonds





SECRETARY: E N R Symonds





REGISTERED OFFICE: 39 Widemarsh Street
Hereford
HR4 9EA





REGISTERED NUMBER: 06218068 (England and Wales)





ACCOUNTANTS: R J Francis & Co
Suites 1 & 2
Marshall Business Centre
Faraday Road
Hereford
Herefordshire
HR4 9NS

Saxtys Wines Limited (Registered number: 06218068)

Balance Sheet
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 532 271
Tangible assets 5 1,695,720 1,720,427
1,696,252 1,720,698

CURRENT ASSETS
Stocks 1,160,301 975,492
Debtors 6 35,181 33,659
Cash at bank 93,617 238,800
1,289,099 1,247,951
CREDITORS
Amounts falling due within one year 7 330,547 427,940
NET CURRENT ASSETS 958,552 820,011
TOTAL ASSETS LESS CURRENT LIABILITIES 2,654,804 2,540,709

CREDITORS
Amounts falling due after more than one
year

8

(207,107

)

(253,604

)

PROVISIONS FOR LIABILITIES 9 (13,792 ) (10,013 )
NET ASSETS 2,433,905 2,277,092

CAPITAL AND RESERVES
Called up share capital 10 890,001 890,001
Share premium 2,175 2,175
Retained earnings 1,541,729 1,384,916
SHAREHOLDERS' FUNDS 2,433,905 2,277,092

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Saxtys Wines Limited (Registered number: 06218068)

Balance Sheet - continued
31 January 2024


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 17 July 2024 and were signed by:





E N R Symonds - Director


Saxtys Wines Limited (Registered number: 06218068)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Saxtys Wines 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.

Goodwill
Goodwill is amortised over its useful life, which shall not exceed five years if a reliable estimate of the useful life cannot be made.

Intangible assets
Goodwill arising on the acquisition of the entity represents the excess of the cost of the acquisition over the company's interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated losses

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences and customer-related intangible assets have a infinite useful life of 10 years and are carried at cost less accumulated amortisation and any accumulated impairment loss.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 20% on reducing balance
Office equipment - 20% 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.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and 'Other Financial Instruments Issues' 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 and 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.


Saxtys Wines Limited (Registered number: 06218068)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 12 (2023 - 12 ) .

Saxtys Wines Limited (Registered number: 06218068)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 February 2023 1 270 271
Additions - 320 320
At 31 January 2024 1 590 591
AMORTISATION
Charge for year - 59 59
At 31 January 2024 - 59 59
NET BOOK VALUE
At 31 January 2024 1 531 532
At 31 January 2023 1 270 271

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 February 2023 1,838,226 24,612 19,836
Additions - 21,064 3,014
Disposals - - (1,540 )
At 31 January 2024 1,838,226 45,676 21,310
DEPRECIATION
At 1 February 2023 174,852 7,316 7,255
Charge for year 36,765 5,445 2,189
Eliminated on disposal - (218 ) (1,039 )
At 31 January 2024 211,617 12,543 8,405
NET BOOK VALUE
At 31 January 2024 1,626,609 33,133 12,905
At 31 January 2023 1,663,374 17,296 12,581

Saxtys Wines Limited (Registered number: 06218068)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

5. TANGIBLE FIXED ASSETS - continued

Motor Office
vehicles equipment Totals
£    £    £   
COST
At 1 February 2023 42,880 10,574 1,936,128
Additions - 2,886 26,964
Disposals - (5,091 ) (6,631 )
At 31 January 2024 42,880 8,369 1,956,461
DEPRECIATION
At 1 February 2023 20,605 5,673 215,701
Charge for year 4,455 1,040 49,894
Eliminated on disposal - (3,597 ) (4,854 )
At 31 January 2024 25,060 3,116 260,741
NET BOOK VALUE
At 31 January 2024 17,820 5,253 1,695,720
At 31 January 2023 22,275 4,901 1,720,427

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 30,330 28,102
Other debtors 4,851 5,557
35,181 33,659

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 43,598 43,656
Finance leases 2,956 2,944
Trade creditors 48,495 127,729
Taxation and social security 198,658 215,284
Other creditors 36,840 38,327
330,547 427,940

Saxtys Wines Limited (Registered number: 06218068)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

20242023
££
Bank loans139,662163,963
Finance leases15,88318.852
155,545182,815
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal51,55070,788

Bank borrowings of £207,367 are secured by way of fixed charge on all freehold land and buildings.

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 13,792 10,013

Deferred
tax
£   
Balance at 1 February 2023 10,013
Charge to Income Statement during year 3,779
Balance at 31 January 2024 13,792

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Nominal 2024 2023
Number: Class: value: £ £
6 Ordinary A shares 0.10 0.60 0.60
4 Ordinary B shares 0.10 0.40 0.40
890,000 Redeemable preference shares 1 890,000 890,000
890,001 890,001

The different classes of shares referred to above carry separate rights to dividends but, in all other significant respects, rank pari passu.

The redeemable preference shares are redeemable at the option of the company. They are redeemable at £1 per share and carry no voting rights.