Registered number
09058307
R&V FOOD & WINE LIMITED
Filleted Accounts
31 May 2024
R&V FOOD & WINE LIMITED
Registered number: 09058307
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 39,500 43,450
Tangible assets 4 26,460 33,075
65,960 76,525
Current assets
Stocks 108,484 112,367
Debtors 5 1,190 4,921
Cash at bank and in hand 1,582 1,740
111,256 119,028
Creditors: amounts falling due within one year 6 (15,683) (13,753)
Net current assets 95,573 105,275
Total assets less current liabilities 161,533 181,800
Creditors: amounts falling due after more than one year 7 (46,261) (65,594)
Net assets 115,272 116,206
Capital and reserves
Called up share capital 10,000 10,000
Profit and loss account 105,272 106,206
Shareholders' funds 115,272 116,206
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.
Aruchunan Rasan
Director
Approved by the board on 30 September 2024
R&V FOOD & WINE LIMITED
Notes to the Accounts
for the year ended 31 May 2024
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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Fixtures, fittings and equipment 20% Reducing Balance
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 5 7
3 Intangible fixed assets £
Goodwill:
Cost
At 1 June 2023 79,000
At 31 May 2024 79,000
Amortisation
At 1 June 2023 35,550
Provided during the year 3,950
At 31 May 2024 39,500
Net book value
At 31 May 2024 39,500
At 31 May 2023 43,450
Goodwill is being written off in equal annual instalments over its estimated economic life of 20 years.
4 Tangible fixed assets
Fixtures and Fittings Motor vehicles Total
£ £ £
Cost
At 1 June 2023 46,440 25,538 71,978
At 31 May 2024 46,440 25,538 71,978
Depreciation
At 1 June 2023 26,440 12,463 38,903
Charge for the year 4,000 2,615 6,615
At 31 May 2024 30,440 15,078 45,518
Net book value
At 31 May 2024 16,000 10,460 26,460
At 31 May 2023 20,000 13,075 33,075
5 Debtors 2024 2023
£ £
Other debtors 1,190 4,921
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 6,940 7,798
Corporation tax 6,114 4,183
Other taxes and social security costs 2,629 1,773
Other creditors - (1)
15,683 13,753
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 21,014 30,901
Obligations under finance lease and hire purchase contracts 2,176 7,158
Directors Loan Account 23,071 27,535
46,261 65,594
8 Other information
R&V FOOD & WINE LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
No3 Cambridge Parade
Great Cambridge Road
Enfield
Middlesex
EN1 4JU
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