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Company Registration No. 13640597 (England and Wales)
SOURCING WINES LTD Unaudited accounts for the year ended 31 March 2024
SOURCING WINES LTD Unaudited accounts Contents
Page
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SOURCING WINES LTD Company Information for the year ended 31 March 2024
Directors
Benedict Jon Michael HENSHAW William Peter BURGESS
Company Number
13640597 (England and Wales)
Registered Office
184 Bellenden Road London SE15 4BW England
Accountants
SyK Management Consulting Limited 2A Thornton Road London SW14 8NS
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SOURCING WINES LTD Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
162,744 
175,235 
Current assets
Inventories
51,480 
52,085 
Debtors
32,418 
37,562 
Cash at bank and in hand
19,603 
7,870 
103,501 
97,517 
Creditors: amounts falling due within one year
(214,909)
(225,621)
Net current liabilities
(111,408)
(128,104)
Net assets
51,336 
47,131 
Capital and reserves
Called up share capital
500 
500 
Share premium
49,950 
49,950 
Profit and loss account
886 
(3,319)
Shareholders' funds
51,336 
47,131 
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 12 September 2024 and were signed on its behalf by
William Peter BURGESS Director Company Registration No. 13640597
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SOURCING WINES LTD Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
SOURCING WINES LTD is a private company, limited by shares, registered in England and Wales, registration number 13640597. The registered office is 184 Bellenden Road, London, SE15 4BW, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
Straight line over 5 years
Fixtures & fittings
Straight line over 3 years
Computer equipment
Straight line over 3 years
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell.
Foreign exchange
Monetary 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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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SOURCING WINES LTD Notes to the Accounts for the year ended 31 March 2024
4
Tangible fixed assets
Land & buildings 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 April 2023
172,686 
- 
24,078 
3,104 
199,868 
Additions
29,004 
5,835 
2,681 
699 
38,219 
At 31 March 2024
201,690 
5,835 
26,759 
3,803 
238,087 
Depreciation
At 1 April 2023
21,062 
- 
3,105 
466 
24,633 
Charge for the year
39,746 
901 
8,834 
1,229 
50,710 
At 31 March 2024
60,808 
901 
11,939 
1,695 
75,343 
Net book value
At 31 March 2024
140,882 
4,934 
14,820 
2,108 
162,744 
At 31 March 2023
151,624 
- 
20,973 
2,638 
175,235 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
- 
9,007 
Trade debtors
783 
166 
Accrued income and prepayments
9,646 
6,144 
Other debtors
21,989 
22,245 
32,418 
37,562 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
32,246 
- 
Trade creditors
86,832 
111,994 
Taxes and social security
5,842 
9,471 
Other creditors
33,010 
10,000 
Loans from directors
54,579 
93,656 
Accruals
2,400 
500 
214,909 
225,621 
7
Operating lease commitments
2024 
2023 
£ 
£ 
At 31 March 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
76,500 
65,375 
Later than one year and not later than five years
201,262 
227,671 
Later than five years
- 
16,917 
277,762 
309,963 
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SOURCING WINES LTD Notes to the Accounts for the year ended 31 March 2024
8
Transactions with related parties
At the balance sheet date, the Company owed £54,500 to B Henshaw, a director. At the balance sheet date, the Company owed £79 to W Burgess, a director.
9
Average number of employees
During the year the average number of employees was 8 (2023: 5).
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