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REGISTERED NUMBER: 10724589 (England and Wales)















Slurp Wine Company Limited

Audited Financial Statements

for the Year Ended 31 December 2023






Slurp Wine Company Limited (Registered number: 10724589)

Contents of the Financial Statements
for the year ended 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Slurp Wine Company Limited

Company Information
for the year ended 31 December 2023







Directors: R P Copestick
D M Clarke
E E Smith





Registered office: Unit 3
Arrow Park
Wellington Road
Brackley
Northamptonshire
NN13 7FG





Registered number: 10724589 (England and Wales)





Auditors: Cooper Parry Group Limited
Statutory Auditor
178 Buckingham Avenue
Slough
Berkshire
SL1 4RD

Slurp Wine Company Limited (Registered number: 10724589)

Balance Sheet
31 December 2023

2023 2022
Notes £ £ £ £
Fixed assets
Intangible assets 4 - 4,590
Tangible assets 5 2,462 5,867
2,462 10,457

Current assets
Stocks 838,659 1,539,527
Debtors 6 194,088 620,368
Cash at bank and in hand 279,446 517,594
1,312,193 2,677,489
Creditors
Amounts falling due within one year 7 906,002 816,484
Net current assets 406,191 1,861,005
Total assets less current liabilities 408,653 1,871,462

Creditors
Amounts falling due after more than one
year

8

5,012,856

5,530,000
Net liabilities (4,604,203 ) (3,658,538 )

Capital and reserves
Called up share capital 10 1,000 1,000
Share premium 11 592,780 592,780
Retained earnings 11 (5,197,983 ) (4,252,318 )
Shareholders' funds (4,604,203 ) (3,658,538 )

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 Board of Directors and authorised for issue on 1 August 2024 and were signed on its behalf by:





D M Clarke - Director


Slurp Wine Company Limited (Registered number: 10724589)

Notes to the Financial Statements
for the year ended 31 December 2023


1. Statutory information

The Slurp Wine Company Limited is a private company limited by shares, registered in England and Wales. The company's registered number is 10724589 and registered office address is Unit 3 Arrow Park, Wellington Road, Brackley, Northamptonshire, England, NN13 7FG.

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.

Going concern
The company has made a loss in the year and net liabilities of £4,604,203. The directors have received a letter of support from the parent company confirming its intention to continue to support Slurp Wine Company Limited to enable them to meet their liabilities as they fall due for a period of at least 12 months from the date of approval of these financial statements. As a result the directors have concluded that they can continue to adopt the going concern basis in preparing the financial statements.

Significant judgements and estimates
Preparation of the financial statements requires management to make significant judgements and estimates in determining the carrying amounts of certain assets and liabilities. Management makes assumptions of the effects of uncertain future events on those assets and liabilities at the balance sheet date. The management's estimates and assumptions are based on historical experience and expectation of future events and are reviewed periodically.

The following are the key sources of estimation certainty:

Valuation of stock provision
Slow moving and obsolete stocks are monitored during the year. Whilst every attempt is made to ensure that stock provisions are as accurate as possible, there remains a risk that the provisions do not match the ultimate unrealised value of stock held.

Turnover
Turnover represents amounts receivable for goods supplied and services rendered in the year and is stated net of VAT. Revenue is recognised on delivery of goods.

Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

Software Development Costs - 33% on cost

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings - 33% on cost
Computer equipment- 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Slurp Wine Company Limited (Registered number: 10724589)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


2. Accounting policies - continued

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts which are an integral part of the company's cash management.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

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.

Operating lease 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 NIL (2022 - 35 ).

Slurp Wine Company Limited (Registered number: 10724589)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


4. Intangible fixed assets
Development
costs
£
Cost
At 1 January 2023
and 31 December 2023 35,765
Amortisation
At 1 January 2023 31,175
Amortisation for year 4,590
At 31 December 2023 35,765
Net book value
At 31 December 2023 -
At 31 December 2022 4,590

5. Tangible fixed assets
Fixtures
and Computer
fittings equipment Totals
£ £ £
Cost
At 1 January 2023
and 31 December 2023 94,518 118,898 213,416
Depreciation
At 1 January 2023 92,217 115,332 207,549
Charge for year 1,054 2,351 3,405
At 31 December 2023 93,271 117,683 210,954
Net book value
At 31 December 2023 1,247 1,215 2,462
At 31 December 2022 2,301 3,566 5,867

6. Debtors: amounts falling due within one year
2023 2022
£ £
Trade debtors 39,962 58,653
Amounts owed by group undertakings 23,033 441,664
Other debtors 131,093 120,051
194,088 620,368

7. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 131,183 241,000
Amounts owed to group undertakings 467,160 270,637
Taxation and social security 107,441 203,349
Other creditors 200,218 101,498
906,002 816,484

Slurp Wine Company Limited (Registered number: 10724589)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


8. Creditors: amounts falling due after more than one year
2023 2022
£ £
Amounts owed to group undertakings 5,012,856 5,530,000

9. Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£ £
Within one year 93,600 93,600
Between one and five years 265,200 358,800
358,800 452,400

10. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
1,000 Ordinary £1 1,000 1,000

11. Reserves
Retained Share
earnings premium Totals
£ £ £

At 1 January 2023 (4,252,318 ) 592,780 (3,659,538 )
Deficit for the year (945,665 ) (945,665 )
At 31 December 2023 (5,197,983 ) 592,780 (4,605,203 )

12. Disclosure under Section 444(5B) of the Companies Act 2006

The Auditors' Report was unqualified.

Tara Mellett (Senior Statutory Auditor)
for and on behalf of Cooper Parry Group Limited

13. Ultimate controlling party

The ultimate controlling party is Geschwister Oetker Beteiligungen KG.