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REGISTERED NUMBER: 05488639 (England and Wales)















THE VINORIUM LIMITED

REPORT OF THE DIRECTOR AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






THE VINORIUM LIMITED (REGISTERED NUMBER: 05488639)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Report of the Director 2

Balance Sheet 3

Notes to the Financial Statements 5


THE VINORIUM LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: S W McCloskey





REGISTERED OFFICE: Unit 14
The Glenmore Centre
Moat Way
Ashford
Kent
TN24 0TL





REGISTERED NUMBER: 05488639 (England and Wales)





ACCOUNTANTS: Spurling Cannon
King Arthur’s Court
Maidstone Road
Charing
Kent
TN27 0JS

THE VINORIUM LIMITED (REGISTERED NUMBER: 05488639)

REPORT OF THE DIRECTOR
FOR THE YEAR ENDED 31 DECEMBER 2023

The director presents his report with the financial statements of the company for the year ended 31 December 2023.

DIRECTOR
S W McCloskey held office during the whole of the period from 1 January 2023 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





S W McCloskey - Director


12 September 2024

THE VINORIUM LIMITED (REGISTERED NUMBER: 05488639)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 529,196 530,683

CURRENT ASSETS
Stocks 5 503,714 1,047,051
Debtors 6 165,446 173,986
Cash at bank and in hand 87,235 50,256
756,395 1,271,293
CREDITORS
Amounts falling due within one year 7 564,445 881,375
NET CURRENT ASSETS 191,950 389,918
TOTAL ASSETS LESS CURRENT
LIABILITIES

721,146

920,601

CREDITORS
Amounts falling due after more than one
year

8

306,557

318,750
NET ASSETS 414,589 601,851

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 414,588 601,850
414,589 601,851

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

THE VINORIUM LIMITED (REGISTERED NUMBER: 05488639)

BALANCE SHEET - continued
31 DECEMBER 2023


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 director and authorised for issue on 12 September 2024 and were signed by:





S W McCloskey - Director


THE VINORIUM LIMITED (REGISTERED NUMBER: 05488639)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

The Vinorium 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Sale of Goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

- the Company has transferred the significant risks and rewards of ownership to the buyer;
- the Company retains neither continuing managerial involvement to the degree usually associated with the ownership nor effective control over the goods sold;
- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due under the transactional and
- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

The company makes sales through En Primeur campaigns and recognises turnover when the wines are available for delivery. The income from En Primeur campaigns are carried forward as deferred income with the cost of En Primeur wine carried forward as prepayments with both being released to the income statement at the point of revenue recognition as above.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - nil
Plant and machinery - 33% on reducing balance
Fixture & Fittings - 25% on reducing balance
Computer 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.


THE VINORIUM LIMITED (REGISTERED NUMBER: 05488639)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued
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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


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.

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.

Going concern
The Director believes, after reviewing the company's forecasts, that it can continue to adopt a going concern basis whilst preparing the financial statements.

The company has a reasonable expectation that it will remain operational for the foreseeable future.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Freehold Plant and Fixture & Computer
property machinery Fittings equipment Totals
£    £    £    £    £   
COST
At 1 January 2023
and 31 December 2023 525,000 14,472 287,755 57,028 884,255
DEPRECIATION
At 1 January 2023 - 13,648 285,264 54,660 353,572
Charge for year - 272 623 592 1,487
At 31 December 2023 - 13,920 285,887 55,252 355,059
NET BOOK VALUE
At 31 December 2023 525,000 552 1,868 1,776 529,196
At 31 December 2022 525,000 824 2,491 2,368 530,683

THE VINORIUM LIMITED (REGISTERED NUMBER: 05488639)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

5. STOCKS
2023 2022
£    £   
Stocks 503,714 1,047,051

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 6,410 8,020
Other debtors 159,036 165,966
165,446 173,986

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 22,253 22,280
Trade creditors 275,549 434,857
Taxation and social security 2,024 61,119
Other creditors 264,619 363,119
564,445 881,375

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 306,557 318,750

Amounts falling due in more than five years:

Repayable by instalments
Mortgage more 5 yr 219,346 231,539

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Mortgage 328,360 340,552

There is a mortgage charge placed over the company 's freehold property (Burscombe Grain Store).

The company also has an outstanding debenture, relating to the development of the new headquarters & warehouse.

THE VINORIUM LIMITED (REGISTERED NUMBER: 05488639)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

10. INVESTOR LOANS

The company operates investor loans whereby investors are able to lend to the company for purchases of wine stock for a specified duration. The investment is recorded as an investor loan and shown within creditors. When the term of the investment ends, the investment and a contractual return on the investment is repaid. The return on the investment is accrued by the company each year for each investment held and is shown as interest payable.

11. PENSION COMMITMENTS

The company operates a defined contributions pension scheme. The pension cost charge represents contributions payable by the Company to the fund and amounted to £2,277 (2022 - £3,460). Contributions totalling £454 (£437) were payable to the fund at the balance sheet date and are included in creditors.