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
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
SOURCING WINES LTD
Statement of financial position
as at 31 March 2024
Tangible assets
162,744
175,235
Cash at bank and in hand
19,603
7,870
Creditors: amounts falling due within one year
(214,909)
(225,621)
Net current liabilities
(111,408)
(128,104)
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
SOURCING WINES LTD
Notes to the Accounts
for the year ended 31 March 2024
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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 have been valued at the lower of cost and estimated selling price less costs to complete and sell.
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.
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.
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
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
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
Amounts falling due within one year
Accrued income and prepayments
9,646
6,144
Other debtors
21,989
22,245
6
Creditors: amounts falling due within one year
2024
2023
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
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
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).