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REGISTERED NUMBER: SC096050 (Scotland)















Unaudited Financial Statements for the Year Ended 30 April 2024

for

Whighams Wine Cellars Limited

Whighams Wine Cellars Limited (Registered number: SC096050)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Whighams Wine Cellars Limited

Company Information
for the Year Ended 30 April 2024







DIRECTOR: N M Henderson





REGISTERED OFFICE: Cowan & Partners Limited
60 Constitution Street
Leith
Edinburgh
Lothian
EH6 6RR





REGISTERED NUMBER: SC096050 (Scotland)





ACCOUNTANTS: Cowan & Partners Limited
60 Constitution Street
Edinburgh
EH6 6RR

Whighams Wine Cellars Limited (Registered number: SC096050)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 37,751 52,771

CURRENT ASSETS
Stocks 5 23,769 22,398
Debtors 6 80,296 68,583
Cash at bank and in hand 38,075 60,455
142,140 151,436
CREDITORS
Amounts falling due within one year 7 128,755 121,786
NET CURRENT ASSETS 13,385 29,650
TOTAL ASSETS LESS CURRENT
LIABILITIES

51,136

82,421

CREDITORS
Amounts falling due after more than one year 8 (20,000 ) (40,000 )

PROVISIONS FOR LIABILITIES (7,883 ) (10,084 )
NET ASSETS 23,253 32,337

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Share premium 7,065 7,065
Retained earnings 6,188 15,272
SHAREHOLDERS' FUNDS 23,253 32,337

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Whighams Wine Cellars Limited (Registered number: SC096050)

Balance Sheet - continued
30 April 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 7 October 2024 and were signed by:





N M Henderson - Director


Whighams Wine Cellars Limited (Registered number: SC096050)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Whighams Wine Cellars Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents the net invoiced sale of services and goods, excluding value added tax. The company's policy is to recognise a sale when the company obtains the right to consideration.

Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Property improvements - Over 8 years straight line
Fixtures and fittings- 25% reducing balance
Computer equipment- 25% reducing balance

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Whighams Wine Cellars Limited (Registered number: SC096050)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 37 (2023 - 36 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1 May 2023 149,364 248,616 2,061 400,041
Additions - 1,582 389 1,971
At 30 April 2024 149,364 250,198 2,450 402,012
DEPRECIATION
At 1 May 2023 136,929 208,501 1,840 347,270
Charge for year 6,216 10,424 351 16,991
At 30 April 2024 143,145 218,925 2,191 364,261
NET BOOK VALUE
At 30 April 2024 6,219 31,273 259 37,751
At 30 April 2023 12,435 40,115 221 52,771

No indicators of impairment were noted during the year.

5. STOCKS
30.4.24 30.4.23
£    £   
Stocks 23,769 22,398

Whighams Wine Cellars Limited (Registered number: SC096050)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 450 604
Other debtors 79,846 67,979
80,296 68,583

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts 258 357
Trade creditors 62,493 62,484
Taxation and social security 48,548 43,187
Other creditors 17,456 15,758
128,755 121,786

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.4.24 30.4.23
£    £   
Other creditors 20,000 40,000

9. SECURED DEBTS

The following secured debts are included within creditors:

30.4.24 30.4.23
£    £   
Bank Loan 40,000 60,000

The Bank of Scotland holds a floating charge over the assets of the company.