Wine Boxes Etc Ltd
Registered number: 09523995
Statement of Financial Position
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 23,779 31,706
Current assets
Stocks 15,500 30,000
Debtors 4 22,787 11,030
Cash at bank and in hand 331,334 180,516
369,621 221,546
Creditors: amounts falling due within one year 5 (77,512) (26,627)
Net current assets 292,109 194,919
Total assets less current liabilities 315,888 226,625
Provisions for liabilities (5,945) (6,024)
Net assets 309,943 220,601
Capital and reserves
Called up share capital 1 1
Profit and loss account 309,942 220,600
Shareholders' funds 309,943 220,601
The director is 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 director acknowledges his 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 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.
M Firman
Director
Approved by the board on 29 October 2024
Wine Boxes Etc Ltd
Notes to the Accounts
for the year ended 30 April 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1a small entities, the financial reporting standard applicable in the UK and the Republic of Ireland.
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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
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:
Plant and machinery 25% reducing balance
Inventories
Inventories 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.
Debtors
Short term debtors are measured at transaction price, less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price. Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2 Employees and directors 2024 2023
Number Number
Average number of directors and persons employed by the company 3 2
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 May 2023 59,700
At 30 April 2024 59,700
Depreciation
At 1 May 2023 27,994
Charge for the year 7,927
At 30 April 2024 35,921
Net book value
At 30 April 2024 23,779
At 30 April 2023 31,706
4 Debtors 2024 2023
£ £
Trade debtors 3,485 1,429
Other debtors 19,302 9,601
22,787 11,030
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 20,967 12,425
Accruals 1,170 1,115
Corporation tax 39,630 9,647
Other taxes and social security costs 7,802 32
Other creditors 7,943 3,408
77,512 26,627
6 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
M Firman
Repayable on demand 1,157 - 1,157 -
1,157 - 1,157 -
7 Other information
Wine Boxes Etc Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Unit A, The Wagon Yard
Blackmoor
Liss
Hampshire
GU33 6BP
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