Acorah Software Products - Accounts Production 14.6.300 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 08111454 Mr David Knott Mr Nicholas Darlington Red Squirrel Wine Ltd true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08111454 2023-03-31 08111454 2024-03-31 08111454 2023-04-01 2024-03-31 08111454 frs-core:CurrentFinancialInstruments 2024-03-31 08111454 frs-core:Non-currentFinancialInstruments 2024-03-31 08111454 frs-core:NetGoodwill 2024-03-31 08111454 frs-core:NetGoodwill 2023-04-01 2024-03-31 08111454 frs-core:NetGoodwill 2023-03-31 08111454 frs-core:PlantMachinery 2024-03-31 08111454 frs-core:PlantMachinery 2023-04-01 2024-03-31 08111454 frs-core:PlantMachinery 2023-03-31 08111454 frs-core:SharePremium 2024-03-31 08111454 frs-core:ShareCapital 2024-03-31 08111454 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 08111454 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 08111454 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 08111454 frs-bus:SmallEntities 2023-04-01 2024-03-31 08111454 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 08111454 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 08111454 1 2023-04-01 2024-03-31 08111454 frs-bus:Director1 2023-04-01 2024-03-31 08111454 frs-bus:Director1 2023-03-31 08111454 frs-bus:Director1 2024-03-31 08111454 frs-bus:Director2 2023-04-01 2024-03-31 08111454 frs-countries:EnglandWales 2023-04-01 2024-03-31 08111454 2022-03-31 08111454 2023-03-31 08111454 2022-04-01 2023-03-31 08111454 frs-core:CurrentFinancialInstruments 2023-03-31 08111454 frs-core:Non-currentFinancialInstruments 2023-03-31 08111454 frs-core:SharePremium 2023-03-31 08111454 frs-core:ShareCapital 2023-03-31 08111454 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 08111454
Graft Wine Company Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
ChadSan Limited
Castle House
Castle Street
Guildford
GU1 3UW
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 08111454
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 2,875 9,412
Tangible Assets 5 3,685 6,619
6,560 16,031
CURRENT ASSETS
Stocks 6 283,945 248,111
Debtors 7 503,333 501,114
Cash at bank and in hand 49,785 39,276
837,063 788,501
Creditors: Amounts Falling Due Within One Year 8 (1,054,755 ) (975,807 )
NET CURRENT ASSETS (LIABILITIES) (217,692 ) (187,306 )
TOTAL ASSETS LESS CURRENT LIABILITIES (211,132 ) (171,275 )
Creditors: Amounts Falling Due After More Than One Year 9 (63,600 ) (115,167 )
NET LIABILITIES (274,732 ) (286,442 )
CAPITAL AND RESERVES
Called up share capital 11 10,000 10,000
Share premium account 160,000 160,000
Profit and Loss Account (444,732 ) (456,442 )
SHAREHOLDERS' FUNDS (274,732) (286,442)
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For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr David Knott
Director
6th August 2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Graft Wine Company Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08111454 . The registered office is Castle House, Castle Street, Guildford, GU1 3UW.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to the profit and loss account over its estimated economic life of 5 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% straight line
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Foreign Currencies
Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 8 (2023: 9)
8 9
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2023 32,685
As at 31 March 2024 32,685
Amortisation
As at 1 April 2023 23,273
Provided during the period 6,537
As at 31 March 2024 29,810
Net Book Value
As at 31 March 2024 2,875
As at 1 April 2023 9,412
5. Tangible Assets
Plant & Machinery
£
Cost
As at 1 April 2023 18,733
As at 31 March 2024 18,733
Depreciation
As at 1 April 2023 12,114
Provided during the period 2,934
As at 31 March 2024 15,048
Net Book Value
As at 31 March 2024 3,685
As at 1 April 2023 6,619
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6. Stocks
2024 2023
£ £
Stock 283,945 248,111
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 339,588 288,580
Amounts owed by group undertakings 62,920 71,420
Other debtors 100,825 141,114
503,333 501,114
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 583,440 523,967
Bank loans and overdrafts 341,479 293,188
Amounts owed to group undertakings 20,746 24,822
Other creditors 9,724 36,932
Taxation and social security 99,366 96,898
1,054,755 975,807
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 47,600 99,167
Other creditors 16,000 16,000
63,600 115,167
10. Secured Creditors
Of the creditors falling due within and after more than one year the following amounts are secured.
Bank loans are secured by a fixed and floating charge over the company's assets and contain negative pledge.
2024 2023
£ £
Bank loans and overdrafts 389,081 392,355
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11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 10,000 10,000
12. Directors Advances, Credits and Guarantees
During the year, loans were made to a director. These loans were fully repaid by the end of the year. No interest was charged on these loans.
As at 1 April 2023 Amounts advanced Amounts repaid Amounts written off As at 31 March 2024
£ £ £ £ £
Mr David Knott 2,551 524 (3,075 ) - -
13. Ultimate Controlling Party
The company's ultimate controlling party is Red Squirrel Wine Ltd .
14. Going Concern
As at the balance sheet date the company has net liabilities. These financial statements have been prepared on the going concern basis, on the understanding that the directors and shareholder will continue to support the company for the foreseeable future. 
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