01 April 2023 31 March 2024 No principle activity is included 04831953 2023-04-01 04831953 2024-03-31 04831953 2023-04-01 2024-03-31 04831953 2023-03-31 04831953 2022-04-01 2023-03-31 04831953 uk-core:WithinOneYear 2024-03-31 04831953 uk-core:WithinOneYear 2023-03-31 04831953 uk-core:AfterOneYear 2024-03-31 04831953 uk-core:AfterOneYear 2023-03-31 04831953 uk-core:ShareCapital 2024-03-31 04831953 uk-core:ShareCapital 2023-03-31 04831953 uk-core:RetainedEarningsAccumulatedLosses 2024-03-31 04831953 uk-core:RetainedEarningsAccumulatedLosses 2023-03-31 04831953 uk-bus:Director1 2023-04-01 2024-03-31 04831953 uk-curr:PoundSterling 2023-04-01 2024-03-31 04831953 uk-core:FurnitureFittings 2023-04-01 2024-03-31 04831953 uk-core:OfficeEquipment 2023-04-01 2024-03-31 04831953 uk-core:NetGoodwill 2023-03-31 04831953 uk-core:NetGoodwill 2024-03-31 04831953 uk-core:FurnitureFittingsToolsEquipment 2023-03-31 04831953 uk-core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 04831953 uk-core:FurnitureFittingsToolsEquipment 2024-03-31 04831953 uk-core:BetweenTwoFiveYears 2024-03-31 04831953 uk-core:BetweenTwoFiveYears 2023-03-31 04831953 uk-bus:FRS102 2023-04-01 2024-03-31 04831953 uk-bus:FullAccounts 2023-04-01 2024-03-31 04831953 uk-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 04831953 uk-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
  BINNING WINE MART LIMITED
   
   
   
  UNAUDITED FINANCIAL STATEMENTS
   
   
  FOR THE YEAR ENDED 31 MARCH 2024
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
  BINNING WINE MART LIMITED
  FINANCIAL STATEMENTS
  FOR THE YEAR ENDED 31 MARCH 2024
       
       
  DIRECTORS
       
  Mr H S Binning
  Mrs S R Binning
  Mrs K Binning
       
       
  SECRETARY
       
  Mrs S R Binning
       
  REGISTERED OFFICE
       
  Auction House
Crescent Road
Luton, Bedfordshire, LU2 0AH
       
       
  COMPANY REGISTERED NUMBER
       
  04831953
       
       
  BANKERS
       
  Metro Bank
       
       
       
       
       
       
       
       
       
  CONTENTS
       
  Pages
       
       
  2-3 Statement of Financial Position  
       
       
  4-7 Notes to the Financial Statements  
       
     
  page 1
  BINNING WINE MART LIMITED
  Company registered number: 04831953
  STATEMENT OF FINANCIAL POSITION AT 31 March 2024
           
    Note 31/03/2024 31/03/2023
      £ £ £
  FIXED ASSETS
  Intangible assets 3 121,500 121,500
  Property, plant and equipment 4 58,277 67,533
      179,777 189,033
  CURRENT ASSETS    
  Inventories   1,200,864 1,050,095
  Debtors 5 1,773,374 1,878,082
  Cash at bank and in hand   480,767 465,935
      3,455,005 3,394,112
  CREDITORS: Amounts falling due within one year 6 2,983,919 2,899,174
  NET CURRENT ASSETS   471,086 494,938
  TOTAL ASSETS LESS CURRENT LIABILITIES   650,863 683,971
           
  CREDITORS: Amounts falling due after more than one year 7 (445,535) (450,535)
  NET ASSETS   £205,328 £233,436
       
  CAPITAL AND RESERVES
  Called up share capital   100 100
  Retained earnings   205,228 233,336
  SHAREHOLDERS' FUNDS   £205,328 £233,436
       
  The notes on pages 4-7 form part of these financial statements
   
  page 2
  BINNING WINE MART LIMITED
  Company registered number: 04831953
  STATEMENT OF FINANCIAL POSITION AT 31 March 2024 (CONT.)
           
    Note 31/03/2024 31/03/2023
      £ £ £
       
       
  In approving these financial statements as directors of the company we hereby confirm the following:
       
  For the year in question the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
       
  The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with section 476 of the Companies Act 2006.
       
  The directors acknowledge their responsibilities for: 1) ensuring that the company keeps accounting records which comply with Sections 386 and 386 of the Companies Act 2006, and 2) preparing financial statements that give a true and fair view of the state of affairs of the company at at the end of each financial year and of its profit or loss for the 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 the financial statements, so far as they are applicable to the company.
 
 
  These financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies
       
  In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
       
  The financial statements were approved and authorised for issue by the board of directors on 12 September 2024
 
  Signed on behalf of the board of directors
 
 
       
  Mr H S Binning, Director
       
       
  The notes on pages 4-7 form part of these financial statements
   
  page 3
  BINNING WINE MART LIMITED
  NOTES TO THE ACCOUNTS
  FOR THE YEAR ENDED 31 MARCH 2024
       
 
1. SIGNIFICANT ACCOUNTING POLICIES
       
         
1a. Statement of compliance
         
  Binning Wine Mart Limited is a Private Limited Company incorporated in England and Wales.
         
  The company's registered number and registered office address can be found on the Company Information page.
         
  These financial statements are the first financial statements that comply with FRS 102. The date of transition is 1 April 2023.
         
  The transition to FRS 102 has resulted in a small number of changes in accounting policies to those used previously. The nature of these changes and their impact on opening equity and profit for the comparative period are explained in notes and below. These financial statements have been prepared in accordance with the provisions of Section 1A of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
         
 
         
  Basis of accounting
         
 
  The financial statements have been prepared under the historical cost convention. The presentation currency is £ sterling.
         
1c. Revenue recognition
         
  Income is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
         
1d. Taxation
         
         
  Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
       
1e. Property, plant and equipment
       
  Depreciation is provided, after taking account of any grants receivable, at the following annual rates in order to write off each asset over its estimated useful life.
       
  Fixtures and fittings Reducing balance 15%  
  Equipment Reducing balance 15%  
         
1f. Inventories
         
  Stocks are stated at the lower of cost and net realisable value. Cost includes all costs incurred in bringing each product to its present location and condition.
         
         
1g. Short term debtors and creditors
         
  Debtors and creditors receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in profit and loss.
         
  The notes on pages 4-7 form part of these financial statements
   
  page 4
  BINNING WINE MART LIMITED
  NOTES TO THE ACCOUNTS (CONT.)
  FOR THE YEAR ENDED 31 MARCH 2024
       
 
1. SIGNIFICANT ACCOUNTING POLICIES (CONT.)
         
1h. Cash and cash equivalents
         
  Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. For the purpose of statement of cash flows, bank overdrafts which are repayable on demand form an integral part of the Company's cash management are included as a component of cash and cash equivalents.
         
 
         
1i. Interest bearing borrowings
         
  All interest-bearing loans and borrowings which are basic financial instruments are initially recognised at the present value of cash payable to the bank (including interest). After initial recognition they are measured at amortised cost using the effective interest rate method, less impairment. Any difference between the amount initially recognised and redemption value is recognised in profit and loss together with any interest and fees payable.
         
         
1j. Employee benefits
         
  The obligations for contributions to defined contribution scheme are recognised as an expense as incurred. The assets of the scheme are held separately from those of the Company in an independent administered fund.
         
       
       
2. DIRECTORS AND EMPLOYEES
       
  The average weekly number of employees during the year were as follows:
    31/03/2024 31/03/2023
       
  Management and administration 3 3
  Production and sales 9 8
    12 11
   
  The notes on pages 4-7 form part of these financial statements
   
  page 5
  BINNING WINE MART LIMITED
  NOTES TO THE ACCOUNTS (CONT.)
  FOR THE YEAR ENDED 31 MARCH 2024
       
       
3. INTANGIBLE FIXED ASSETS
       
    Goodwill Total
    £ £
  Cost
       
  At 1 April 2023 121,500 121,500
  At 31 March 2024 121,500 121,500
  Amortisation
       
  At 31 March 2024 - -
   
  Net Book Amounts
       
  At 31 March 2024 121,500 121,500
  At 31 March 2023 121,500 121,500
   
       
4. PROPERTY, PLANT AND EQUIPMENT
    Fixtures &  
    Equipment Total
    £ £
  Cost
       
  At 1 April 2023 635,480 635,480
  Additions other than through business combinations 1,132 1,132
       
  At 31 March 2024 636,612 636,612
   
  Depreciation
       
  At 1 April 2023 567,947 567,947
  For the year 10,388 10,388
  At 31 March 2024 578,335 578,335
   
  Net Book Amounts
       
  At 31 March 2024 58,277 58,277
  At 31 March 2023 67,533 67,533
   
  The notes on pages 4-7 form part of these financial statements
   
  page 6
  BINNING WINE MART LIMITED
  NOTES TO THE ACCOUNTS (CONT.)
  FOR THE YEAR ENDED 31 MARCH 2024
       
       
5. DEBTORS 31/03/2024 31/03/2023
    £ £
  Trade debtors 1,753,786 1,852,805
  Other debtors 19,588 25,277
    £1,773,374 £1,878,082
   
       
       
6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
    31/03/2024 31/03/2023
    £ £
  Bank loans and overdrafts 1,359,543 1,523,064
  Trade creditors 1,283,471 1,160,846
  Corporation tax - 9,664
  Other taxes and social security 335,013 189,430
  Other creditors 1,317 1,680
  Accruals and deferred income 4,575 14,490
    £2,983,919 £2,899,174
   
       
       
       
7. CREDITORS: AMOUNTS FALLING DUE AFTER ONE YEAR
    31/03/2024 31/03/2023
    £ £
  Other loans 445,535 450,535
    £445,535 £450,535
   
       
       
  Analysis of borrowings:
       
  Due within five years:
  within 1 year
  within 2-5 years
  other 445,535 450,535
    £445,535 £450,535
   
  The notes on pages 4-7 form part of these financial statements
   
  page 7