Newsells Park Winery Ltd 14017222 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is growing of grapes, manufacturing of wine from grapes and wholesaling of wine. Digita Accounts Production Advanced 6.30.9574.0 true false 14017222 2023-01-01 2023-12-31 14017222 2023-12-31 14017222 core:CurrentFinancialInstruments 2023-12-31 14017222 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 14017222 core:Non-currentFinancialInstruments 2023-12-31 14017222 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 14017222 core:WithinOneYear 2023-12-31 14017222 core:ConstructionInProgressAssetsUnderConstruction 2023-12-31 14017222 core:FurnitureFittings 2023-12-31 14017222 core:LandBuildings core:LongLeaseholdAssets 2023-12-31 14017222 core:LandBuildings core:OwnedOrFreeholdAssets 2023-12-31 14017222 core:LandBuildings core:ShortLeaseholdAssets 2023-12-31 14017222 core:OfficeEquipment 2023-12-31 14017222 core:PlantMachinery 2023-12-31 14017222 bus:SmallEntities 2023-01-01 2023-12-31 14017222 bus:Audited 2023-01-01 2023-12-31 14017222 bus:FilletedAccounts 2023-01-01 2023-12-31 14017222 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 14017222 bus:RegisteredOffice 2023-01-01 2023-12-31 14017222 bus:Director1 2023-01-01 2023-12-31 14017222 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 14017222 core:ComputerEquipment 2023-01-01 2023-12-31 14017222 core:ConstructionInProgressAssetsUnderConstruction 2023-01-01 2023-12-31 14017222 core:FurnitureFittings 2023-01-01 2023-12-31 14017222 core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 14017222 core:LandBuildings 2023-01-01 2023-12-31 14017222 core:LandBuildings core:LongLeaseholdAssets 2023-01-01 2023-12-31 14017222 core:LandBuildings core:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 14017222 core:LandBuildings core:ShortLeaseholdAssets 2023-01-01 2023-12-31 14017222 core:OfficeEquipment 2023-01-01 2023-12-31 14017222 core:PlantMachinery 2023-01-01 2023-12-31 14017222 core:ToolsEquipment 2023-01-01 2023-12-31 14017222 core:OtherRelatedParties 2023-01-01 2023-12-31 14017222 1 2023-01-01 2023-12-31 14017222 countries:EnglandWales 2023-01-01 2023-12-31 14017222 2022-12-31 14017222 core:ConstructionInProgressAssetsUnderConstruction 2022-12-31 14017222 core:FurnitureFittings 2022-12-31 14017222 core:LandBuildings core:LongLeaseholdAssets 2022-12-31 14017222 core:LandBuildings core:OwnedOrFreeholdAssets 2022-12-31 14017222 core:LandBuildings core:ShortLeaseholdAssets 2022-12-31 14017222 core:OfficeEquipment 2022-12-31 14017222 core:PlantMachinery 2022-12-31 14017222 2022-03-31 2022-12-31 14017222 2022-12-31 14017222 core:CurrentFinancialInstruments 2022-12-31 14017222 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 14017222 core:Non-currentFinancialInstruments 2022-12-31 14017222 core:Non-currentFinancialInstruments core:AfterOneYear 2022-12-31 14017222 core:WithinOneYear 2022-12-31 14017222 core:ConstructionInProgressAssetsUnderConstruction 2022-12-31 14017222 core:FurnitureFittings 2022-12-31 14017222 core:LandBuildings core:LongLeaseholdAssets 2022-12-31 14017222 core:LandBuildings core:OwnedOrFreeholdAssets 2022-12-31 14017222 core:LandBuildings core:ShortLeaseholdAssets 2022-12-31 14017222 core:OfficeEquipment 2022-12-31 14017222 core:PlantMachinery 2022-12-31 iso4217:GBP xbrli:pure

Registration number: 14017222

Newsells Park Winery Ltd

Filleted Financial Statements

for the Year Ended 31 December 2023

 

Newsells Park Winery Ltd

Contents

Balance Sheet

1

Notes to the Financial Statements

2 to 7

 

Newsells Park Winery Ltd

(Registration number: 14017222)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

1,363,080

1,113,474

Current assets

 

Stocks

5

40,295

21,322

Debtors

6

38,385

19,176

Cash at bank and in hand

 

71,700

93,757

 

150,380

134,255

Creditors: Amounts falling due within one year

7

(37,643)

(39,511)

Net current assets

 

112,737

94,744

Total assets less current liabilities

 

1,475,817

1,208,218

Creditors: Amounts falling due after more than one year

7

(750,000)

(300,000)

Net assets

 

725,817

908,218

Capital and reserves

 

Called up share capital

1,000,000

1,000,000

Retained earnings

(274,183)

(91,782)

Shareholders' funds

 

725,817

908,218

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 7 August 2024
 

.........................................
G F Smith-Bernal
Director

 

Newsells Park Winery Ltd

Notes to the Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Estate Office
Newsells Park Stud
Barkway
Royston
Hertfordshire
SG8 8DY

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 15 August 2024 was Dean Blunden BFP FCA, who signed for and on behalf of UHY Ross Brooke.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Assets under the course of construction are stated at cost. Cost includes any costs directly attributable to bringing the assets to the location and condition necessary for it to be of operating in the manner intended by management. These assets are not depreciated until they are available for use and are reviewed for impairment each each reporting date.

 

Newsells Park Winery Ltd

Notes to the Financial Statements for the Year Ended 31 December 2023

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Vines & trellis

20% straight line upon reaching maturity

Vineyard equipment

20% straight line

Fencing

10% straight line

Plant and machinery

15% straight line

Computer equipment

33.33% straight line

Land & Buildings

2% straight line on buildings

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Newsells Park Winery Ltd

Notes to the Financial Statements for the Year Ended 31 December 2023

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 3 (2022 - 2).

 

Newsells Park Winery Ltd

Notes to the Financial Statements for the Year Ended 31 December 2023

4

Tangible assets

Land and buildings
£

Vines and trellis
£

Vineyard equipment
£

Assets under construction
 £

Fencing
£

Plant and machinery
£

Computer equipment
£

Total
£

Cost or valuation

At 1 January 2023

426,705

398,959

1,649

114,391

69,798

128,135

550

1,140,187

Additions

-

60,553

-

204,343

-

12,940

637

278,473

At 31 December 2023

426,705

459,512

1,649

318,734

69,798

141,075

1,187

1,418,660

Depreciation

At 1 January 2023

-

-

330

-

6,980

19,220

183

26,713

Charge for the year

-

-

330

-

6,980

21,161

396

28,867

At 31 December 2023

-

-

660

-

13,960

40,381

579

55,580

Carrying amount

At 31 December 2023

426,705

459,512

989

318,734

55,838

100,694

608

1,363,080

At 31 December 2022

541,096

398,959

1,319

-

62,818

108,915

367

1,113,474

 

Newsells Park Winery Ltd

Notes to the Financial Statements for the Year Ended 31 December 2023

5

Stocks

2023
£

2022
£

Other inventories

40,295

21,322

6

Debtors

Current

Note

2023
£

2022
£

Trade debtors

 

2,030

300

Amounts owed by group undertakings

10

25,674

1,910

Other debtors

 

10,681

16,966

   

38,385

19,176

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Trade creditors

 

15,329

7,433

Amounts owed to group undertakings

10

12,000

24,000

Taxation and social security

 

1,930

78

Other creditors

 

8,384

8,000

 

37,643

39,511

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

750,000

300,000

 

Newsells Park Winery Ltd

Notes to the Financial Statements for the Year Ended 31 December 2023

8

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2023
£

2022
£

Not later than one year

130

1,339

The amount of non-cancellable operating lease payments recognised as an expense during the year was £1,328 (9 month period 2022 - £306).

9

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Other borrowings

750,000

300,000

10

Related party transactions

The company is adopting the small group exemption under FRS 102 section 1A with regard to the disclosure of group transactions.

At the balance sheet date, the company owed the director £750,000 (2022: £300,000) in relation to an interest free loan.

Summary of transactions with other related parties

During the period expenditure of £12,737 (9 month period 2022: £3,241) was incurred with a company in which a group general manager's wife is a director for consultancy services. At the balance sheet date the amount of £531 (2022: £1,000) was in accruals.
 

11

Parent and ultimate parent undertaking

The company's immediate parent is Smith Bernal Family Holdings Limited, incorporated in England and Wales.

 The ultimate controlling party is G F Smith-Bernal.