Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31truefalseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-01-01fine wine dealer77true 04808841 2023-01-01 2023-12-31 04808841 2022-01-01 2022-12-31 04808841 2023-12-31 04808841 2022-12-31 04808841 2022-01-01 04808841 c:Director1 2023-01-01 2023-12-31 04808841 d:Buildings d:ShortLeaseholdAssets 2023-01-01 2023-12-31 04808841 d:PlantMachinery 2023-01-01 2023-12-31 04808841 d:PlantMachinery 2023-12-31 04808841 d:PlantMachinery 2022-12-31 04808841 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04808841 d:MotorVehicles 2023-01-01 2023-12-31 04808841 d:MotorVehicles 2023-12-31 04808841 d:MotorVehicles 2022-12-31 04808841 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04808841 d:FurnitureFittings 2023-01-01 2023-12-31 04808841 d:FurnitureFittings 2023-12-31 04808841 d:FurnitureFittings 2022-12-31 04808841 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04808841 d:OtherPropertyPlantEquipment 2023-12-31 04808841 d:OtherPropertyPlantEquipment 2022-12-31 04808841 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04808841 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04808841 d:CurrentFinancialInstruments 2023-12-31 04808841 d:CurrentFinancialInstruments 2022-12-31 04808841 d:Non-currentFinancialInstruments 2023-12-31 04808841 d:Non-currentFinancialInstruments 2022-12-31 04808841 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 04808841 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 04808841 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 04808841 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 04808841 d:ShareCapital 2023-12-31 04808841 d:ShareCapital 2022-12-31 04808841 d:RetainedEarningsAccumulatedLosses 2023-12-31 04808841 d:RetainedEarningsAccumulatedLosses 2022-12-31 04808841 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 04808841 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 04808841 d:OtherDeferredTax 2023-12-31 04808841 d:OtherDeferredTax 2022-12-31 04808841 c:OrdinaryShareClass1 2023-01-01 2023-12-31 04808841 c:OrdinaryShareClass1 2023-12-31 04808841 c:OrdinaryShareClass1 2022-12-31 04808841 c:OrdinaryShareClass2 2023-01-01 2023-12-31 04808841 c:OrdinaryShareClass2 2023-12-31 04808841 c:OrdinaryShareClass2 2022-12-31 04808841 c:FRS102 2023-01-01 2023-12-31 04808841 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 04808841 c:FullAccounts 2023-01-01 2023-12-31 04808841 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 04808841 2 2023-01-01 2023-12-31 04808841 6 2023-01-01 2023-12-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 04808841









ALBANY VINTNERS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
ALBANY VINTNERS LIMITED
REGISTERED NUMBER: 04808841

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

FIXED ASSETS
  

Tangible assets
 4 
43,291
64,836

Investments
 5 
100
100

  
43,391
64,936

CURRENT ASSETS
  

Stocks
  
2,621,412
2,617,101

Debtors
 6 
1,883,690
2,138,760

Cash at bank and in hand
  
1,296,491
1,492,286

  
5,801,593
6,248,147

Creditors: amounts falling due within one year
 7 
(844,853)
(1,422,434)

NET CURRENT ASSETS
  
 
 
4,956,740
 
 
4,825,713

TOTAL ASSETS LESS CURRENT LIABILITIES
  
5,000,131
4,890,649

Creditors: amounts falling due after more than one year
 8 
(302,155)
(123,485)

PROVISIONS FOR LIABILITIES
  

Deferred tax
 9 
(8,895)
(13,317)

NET ASSETS
  
4,689,081
4,753,847


CAPITAL AND RESERVES
  

Called up share capital 
 10 
100,000
100,000

Profit and loss account
  
4,589,081
4,653,847

  
4,689,081
4,753,847


Page 1

 
ALBANY VINTNERS LIMITED
REGISTERED NUMBER: 04808841
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




M I Edwards
Director

Date: 17 September 2024

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
ALBANY VINTNERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


GENERAL INFORMATION

Albany Vintners Limited is a company limited by shares, incorporated in England and Wales. Its registered office is Vintners House, 6 Station Court, Great Shelford, Cambridge, CB22 5NE.

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

TURNOVER

Turnover comprises revenue recognised by the Company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts.
En primeur wine sales are taken to be supplied when they have been allocated to a sales order and are physically available for delivery.

 
2.3

FOREIGN CURRENCY TRANSLATION

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
ALBANY VINTNERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.ACCOUNTING POLICIES (CONTINUED)

 
2.4

OPERATING LEASES: THE COMPANY AS LESSEE

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

INTEREST INCOME

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

PENSIONS

DEFINED CONTRIBUTION PENSION PLAN

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

DIVIDENDS

Equity dividends are recognised when they become legally payable.

 
2.8

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Leasehold improvements
-
over the period of the lease
Plant and machinery
-
25% per annum
Motor vehicles
-
20% per annum
Fixtures and fittings
-
25% per annum

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
ALBANY VINTNERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.ACCOUNTING POLICIES (CONTINUED)

 
2.9

VALUATION OF INVESTMENTS

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.10

STOCKS

Stocks comprise wine stocks held for resale and are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Stock is recognised upon order when goods are available for re-sale.
En primeur wine purchases are recognised once they are physically available for delivery.

 
2.11

DEBTORS

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

CREDITORS

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.14

PROVISIONS FOR LIABILITIES

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance Sheet.

Page 5

 
ALBANY VINTNERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.ACCOUNTING POLICIES (CONTINUED)

 
2.15

CURRENT AND DEFERRED TAXATION

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 7 (2022 - 7).

Page 6

 
ALBANY VINTNERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


TANGIBLE FIXED ASSETS





Leasehold improvements
Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£
£



COST


At 1 January 2023
54,918
449
143,370
43,049
241,786



At 31 December 2023

54,918
449
143,370
43,049
241,786



DEPRECIATION


At 1 January 2023
47,102
449
91,519
37,880
176,950


Charge for the year
5,862
-
13,438
2,245
21,545



At 31 December 2023

52,964
449
104,957
40,125
198,495



NET BOOK VALUE



At 31 December 2023
1,954
-
38,413
2,924
43,291



At 31 December 2022
7,816
-
51,851
5,169
64,836


5.


FIXED ASSET INVESTMENTS





Investments in subsidiary companies

£



COST


At 1 January 2023
100



At 31 December 2023
100




Page 7

 
ALBANY VINTNERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


DEBTORS


2023
2022
£
£

DUE AFTER MORE THAN ONE YEAR

Other debtors
304,340
225,062

304,340
225,062

DUE WITHIN ONE YEAR

Trade debtors
275,856
504,933

Amounts owed by group undertakings
842,005
738,297

Other debtors
447,309
649,271

Prepayments and accrued income
14,180
18,190

Tax recoverable
-
3,007

1,883,690
2,138,760



7.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023
2022
£
£

Trade creditors
380,237
504,277

Corporation tax
-
48,012

Other taxation and social security
6,721
12,981

Other creditors
61,896
98,271

Accruals and deferred income
395,999
758,893

844,853
1,422,434


Included within other creditors are amounts due to defined contribution pension schemes of £3,531 (2022 - £4,314).


8.


CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023
2022
£
£

Accruals and deferred income
302,155
123,485

302,155
123,485


Page 8

 
ALBANY VINTNERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

9.


DEFERRED TAXATION




2023
2022


£

£






At beginning of year
(13,317)
(2,964)


Charged to profit or loss
4,422
(10,353)



AT END OF YEAR
(8,895)
(13,317)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
9,198
13,721

Other timing differences
(303)
(404)

8,895
13,317


10.


SHARE CAPITAL

2023
2022
£
£
ALLOTTED, CALLED UP AND FULLY PAID



99,600 (2022 - 99,600) Ordinary shares of £1.00 each
99,600
99,600
400 (2022 - 400) A Ordinary shares of £1.00 each
400
400

100,000

100,000



11.FINANCIAL COMMITMENTS

Total financial commitments, guarantees and contingencies that are not included in the balance sheet amount to £19,833 (2022 - £53,833).

Page 9