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REGISTERED NUMBER: 04003226 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

Sorrells Wine Racks Limited

Sorrells Wine Racks Limited (Registered number: 04003226)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Certified Accountants' Report 7

Sorrells Wine Racks Limited

Company Information
for the Year Ended 30 June 2024







DIRECTORS: Mr T Lewis
Mrs L D Christoforou
Mr A J Lewis
Ms L Y Lewis
Mr C J Christoforou





SECRETARY: Mr T Lewis





REGISTERED OFFICE: Broom House
39/43 London Road
Hadleigh
Benfleet
Essex
SS7 2QL





REGISTERED NUMBER: 04003226 (England and Wales)





ACCOUNTANTS: BPSL
Brooms Professional Services Limited
Chartered Certified Accountants
Broom House
39/43 London Road
Hadleigh, Benfleet
Essex
SS7 2QL

Sorrells Wine Racks Limited (Registered number: 04003226)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 391,201 275,019
Investments 5 157,385 123,447
548,586 398,466

CURRENT ASSETS
Stocks 187,118 198,250
Debtors 6 911,567 712,979
Cash at bank 27,356 30,484
1,126,041 941,713
CREDITORS
Amounts falling due within one year 7 744,695 568,764
NET CURRENT ASSETS 381,346 372,949
TOTAL ASSETS LESS CURRENT
LIABILITIES

929,932

771,415

CREDITORS
Amounts falling due after more than one
year

8

286,854

281,179
NET ASSETS 643,078 490,236

CAPITAL AND RESERVES
Called up share capital 795 795
Retained earnings 642,283 489,441
643,078 490,236

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Sorrells Wine Racks Limited (Registered number: 04003226)

Balance Sheet - continued
30 June 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 Board of Directors and authorised for issue on 27 August 2024 and were signed on its behalf by:





Mr T Lewis - Director


Sorrells Wine Racks Limited (Registered number: 04003226)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Sorrells Wine Racks 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Equipment - 25% 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.

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.

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 29 (2023 - 27 ) .

Sorrells Wine Racks Limited (Registered number: 04003226)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and
leasehold machinery fittings
£    £    £   
COST
At 1 July 2023 9,227 479,775 32,644
Additions - 111,294 362
At 30 June 2024 9,227 591,069 33,006
DEPRECIATION
At 1 July 2023 - 295,601 30,187
Charge for year - 57,092 689
At 30 June 2024 - 352,693 30,876
NET BOOK VALUE
At 30 June 2024 9,227 238,376 2,130
At 30 June 2023 9,227 184,174 2,457

Motor
vehicles Equipment Totals
£    £    £   
COST
At 1 July 2023 152,704 46,229 720,579
Additions 83,998 1,567 197,221
At 30 June 2024 236,702 47,796 917,800
DEPRECIATION
At 1 July 2023 86,557 33,215 445,560
Charge for year 19,901 3,357 81,039
At 30 June 2024 106,458 36,572 526,599
NET BOOK VALUE
At 30 June 2024 130,244 11,224 391,201
At 30 June 2023 66,147 13,014 275,019

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 July 2023 123,447
Additions 33,938
At 30 June 2024 157,385
NET BOOK VALUE
At 30 June 2024 157,385
At 30 June 2023 123,447

Sorrells Wine Racks Limited (Registered number: 04003226)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 570,826 422,653
Other Debtors 72,581 49,386
R&D Provision 59,762 104,527
Prepayments 208,398 136,413
911,567 712,979

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts 19,144 18,251
Funding Loans 118,932 74,557
Hire purchase contracts 113,477 27,794
Trade creditors 339,786 299,282
Social security and other taxes 36,307 73,473
VAT 93,487 62,174
Other creditors 4,862 6,943
Credit cards 8,119 2,854
Directors' current accounts - 436
Accrued expenses 10,581 3,000
744,695 568,764

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.24 30.6.23
£    £   
Bank loans - 2-5 years - 1,465
Funding Loan 228,798 263,998
Hire purchase contracts 58,056 15,716
286,854 281,179

Chartered Certified Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Sorrells Wine Racks Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Sorrells Wine Racks Limited for the year ended 30 June 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Sorrells Wine Racks Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Sorrells Wine Racks Limited and state those matters that we have agreed to state to the Board of Directors of Sorrells Wine Racks Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Sorrells Wine Racks Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Sorrells Wine Racks Limited. You consider that Sorrells Wine Racks Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Sorrells Wine Racks Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






BPSL
Brooms Professional Services Limited
Chartered Certified Accountants
Broom House
39/43 London Road
Hadleigh, Benfleet
Essex
SS7 2QL


Date: .............................................