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Finch Wine Bar Ltd
Unaudited Financial Statements
For the Period 7 June 2023 to 31 December 2023
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 14921134
31 December 2023
Notes £ £
FIXED ASSETS
Tangible Assets 4 119,707
119,707
CURRENT ASSETS
Stocks 5 1,582
Debtors 6 25,639
Cash at bank and in hand 15,160
42,381
Creditors: Amounts Falling Due Within One Year 7 (204,218 )
NET CURRENT ASSETS (LIABILITIES) (161,837 )
TOTAL ASSETS LESS CURRENT LIABILITIES (42,130 )
NET LIABILITIES (42,130 )
CAPITAL AND RESERVES
Called up share capital 8 1
Profit and Loss Account (42,131 )
SHAREHOLDERS' FUNDS (42,130)
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For the period ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 A A Gray
Director
11 July 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
Finch Wine Bar Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 14921134 . The registered office is Mill House, Liphook Road, Haslemere, GU27 3QE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. 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 on a point of sale basis. 
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:
Leasehold 15% straight line
Plant & Machinery 25% straight line
2.5. Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.6. 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.
2.7. Financial Instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares, which are measured at fair value, with changes recognised in profit or loss. 
Derivative financial instruments, where applicable, are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
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2.8. Taxation
Income tax expense represents the sum of the tax currently payable and a deferred tax provision where necessary in accordance with accounting standards.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all material taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Where a reliable tax rate cannot be forecast, a deferred tax provision is calculated at the highest tax rate possibly applicable, based on tax rates (and tax laws) enacted by the end of the reporting date. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.9. 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
The average number of employees, including directors, during the year was as follows: 4
4
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Total
£ £ £
Cost
As at 7 June 2023 - - -
Additions 136,556 13,949 150,505
As at 31 December 2023 136,556 13,949 150,505
Depreciation
As at 7 June 2023 - - -
Provided during the period 27,311 3,487 30,798
As at 31 December 2023 27,311 3,487 30,798
Net Book Value
As at 31 December 2023 109,245 10,462 119,707
As at 7 June 2023 - - -
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5. Stocks
31 December 2023
£
Stock 1,582
6. Debtors
31 December 2023
£
Due within one year
Trade debtors 1,892
Other debtors 23,747
25,639
7. Creditors: Amounts Falling Due Within One Year
31 December 2023
£
Trade creditors 22,491
Amounts owed to participating interests 176,357
Other creditors 2,258
Taxation and social security 3,112
204,218
Included within Other creditors above are unsecured loans from the director(s) of £(9,751) . These loans are interest free and repayable on demand.
8. Share Capital
31 December 2023
£
Allotted, Called up and fully paid 1
9. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
31 December 2023
£
Not later than one year 17,000
Later than one year and not later than five years 28,333
45,333
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10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 7 June 2023 Amounts advanced Amounts repaid Amounts written off As at 31 December 2023
£ £ £ £ £
Mr Andrew Gray - 10,001 250 - 9,751
The above loan is unsecured, interest free and repayable on demand.
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