Registered number
06068133
The Winery Limited
Filleted Accounts
31 December 2023
The Winery Limited
Registered number: 06068133
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 205,972 260,430
Current assets
Stocks 30,643 33,523
Debtors 4 23,389 70,113
Cash at bank and in hand 58,177 58,773
112,209 162,409
Creditors: amounts falling due within one year 5 (351,602) (381,705)
Net current liabilities (239,393) (219,296)
Total assets less current liabilities (33,421) 41,134
Creditors: amounts falling due after more than one year 6 (72,314) (127,570)
Net liabilities (105,735) (86,436)
Capital and reserves
Called up share capital 291,000 291,000
Share premium 30,000 30,000
Profit and loss account (426,735) (407,436)
Shareholders' funds (105,735) (86,436)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr L Parry
Director
Approved by the board on 19 September 2024
The Winery Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 29 32
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 January 2023 566,961 686,149 1,253,110
Additions - 11,110 11,110
At 31 December 2023 566,961 697,259 1,264,220
Depreciation
At 1 January 2023 467,776 524,904 992,680
Charge for the year 28,806 36,762 65,568
At 31 December 2023 496,582 561,666 1,058,248
Net book value
At 31 December 2023 70,379 135,593 205,972
At 31 December 2022 99,185 161,245 260,430
4 Debtors 2023 2022
£ £
Trade debtors 675 2,764
Other debtors 22,714 67,349
23,389 70,113
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 52,383 52,383
Obligations under finance lease and hire purchase contracts 2,871 14,277
Trade creditors 62,714 105,824
Taxation and social security costs 223,063 190,457
Other creditors 10,571 18,764
351,602 381,705
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 72,314 124,699
Obligations under finance lease and hire purchase contracts - 2,871
72,314 127,570
7 Controlling party
The company is controlled by Mr L & Mrs C Parry by virtue of their shareholdings.
8 Other information
The Winery Limited is a private company limited by shares and incorporated in England. Its registered office is:
Manor Drive
Burton on Trent
Staffordshire
DE14 3RW
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