James Fine Wines Limited 10200084 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is supply of wine worldwide Digita Accounts Production Advanced 6.30.9574.0 true true 10200084 2023-04-01 2024-03-31 10200084 2024-03-31 10200084 core:CurrentFinancialInstruments 2024-03-31 10200084 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 10200084 core:Non-currentFinancialInstruments 2024-03-31 10200084 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 10200084 core:FurnitureFittings 2024-03-31 10200084 core:OfficeEquipment 2024-03-31 10200084 bus:SmallEntities 2023-04-01 2024-03-31 10200084 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 10200084 bus:FilletedAccounts 2023-04-01 2024-03-31 10200084 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 10200084 bus:RegisteredOffice 2023-04-01 2024-03-31 10200084 bus:Director1 2023-04-01 2024-03-31 10200084 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 10200084 core:FurnitureFittings 2023-04-01 2024-03-31 10200084 core:OfficeEquipment 2023-04-01 2024-03-31 10200084 countries:AllCountries 2023-04-01 2024-03-31 10200084 2023-03-31 10200084 core:FurnitureFittings 2023-03-31 10200084 core:OfficeEquipment 2023-03-31 10200084 2022-04-01 2023-03-31 10200084 2023-03-31 10200084 core:CurrentFinancialInstruments 2023-03-31 10200084 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 10200084 core:Non-currentFinancialInstruments 2023-03-31 10200084 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 10200084 core:FurnitureFittings 2023-03-31 10200084 core:OfficeEquipment 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 10200084

James Fine Wines Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

James Fine Wines Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

James Fine Wines Limited

Company Information

Director

Mr JG Read

Registered office

5 High Green
Great Shelford
Cambridge
Cambridgeshire
CB22 5EG

Accountants

Tayabali & White
5 High Green
Great Shelford
Cambridge
Cambridgeshire
CB22 5EG

 

James Fine Wines Limited

(Registration number: 10200084)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

512

769

Current assets

 

Stocks

5

107,649

72,927

Debtors

6

123,453

239,586

Cash at bank and in hand

 

181,676

165,552

 

412,778

478,065

Creditors: Amounts falling due within one year

7

(247,910)

(251,538)

Net current assets

 

164,868

226,527

Total assets less current liabilities

 

165,380

227,296

Creditors: Amounts falling due after more than one year

7

(12,223)

(22,511)

Net assets

 

153,157

204,785

Capital and reserves

 

Called up share capital

8

1

1

Retained earnings

153,156

204,784

Shareholders' funds

 

153,157

204,785

For the financial 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.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

 

James Fine Wines Limited

(Registration number: 10200084)
Balance Sheet as at 31 March 2024

Approved and authorised by the director on 2 September 2024
 

.........................................
Mr JG Read
Director

 

James Fine Wines Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The company's registered number is 10200084.

The address of its registered office is:
5 High Green
Great Shelford
Cambridge
Cambridgeshire
CB22 5EG

These financial statements were authorised for issue by the director on 2 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

James Fine Wines Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

James Fine Wines Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

James Fine Wines Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Fixtures and fittings
£

Office equipment
£

Total
£

Cost or valuation

At 1 April 2023

183

1,742

1,925

At 31 March 2024

183

1,742

1,925

Depreciation

At 1 April 2023

183

973

1,156

Charge for the year

-

257

257

At 31 March 2024

183

1,230

1,413

Carrying amount

At 31 March 2024

-

512

512

At 31 March 2023

-

769

769

5

Stocks

2024
£

2023
£

Other inventories

107,649

72,927

6

Debtors

Current

2024
£

2023
£

Trade debtors

123,453

239,476

Other debtors

-

110

 

123,453

239,586

7

Creditors

Creditors: amounts falling due within one year

 

James Fine Wines Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

10,288

10,126

Trade creditors

 

20,682

19,069

Taxation and social security

 

25,601

29,966

Accruals and deferred income

 

1,400

1,325

Other creditors

 

189,939

191,052

 

247,910

251,538

 

James Fine Wines Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

12,223

22,511

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £0.01 each

100

1

100

1

       

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

12,223

22,511

Current loans and borrowings

2024
£

2023
£

Bank borrowings

10,288

10,126

10

Dividends

2024

2023

£

£

Interim dividend of £1,261.00 (2023 - £1,101.50) per ordinary share

126,100

110,150