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Registration number: 09387743

Cork and Bottle Ltd

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 29 February 2024

 

Cork and Bottle Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Cork and Bottle Ltd

Company Information

Director

S Billington

Registered office

Frog Pool Farm
Moorwood
Oakhill
Radstock
Somerset
BA3 5BN

Accountants

Burton Sweet Limited
Chartered Accountants and Business Advisers
Cooper House
Lower Charlton Estate
Shepton Mallet
Somerset
BA4 5QE

 

Cork and Bottle Ltd

(Registration number: 09387743)
Balance Sheet
29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

49,032

20,680

Current assets

 

Stocks

5

24,105

20,680

Debtors

6

22,915

7,315

Cash at bank and in hand

 

635,081

801,043

 

682,101

829,038

Creditors: Amounts falling due within one year

7

(216,577)

(96,417)

Net current assets

 

465,524

732,621

Total assets less current liabilities

 

514,556

753,301

Creditors: Amounts falling due after more than one year

7

(495,325)

(789,575)

Net assets/(liabilities)

 

19,231

(36,274)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

19,131

(36,374)

Shareholders' funds/(deficit)

 

19,231

(36,274)

 

Cork and Bottle Ltd

(Registration number: 09387743)
Balance Sheet
29 February 2024

For the financial year ending 29 February 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 her 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.

Approved and authorised by the director on 25 October 2024
 

.........................................
S Billington
Director

 

Cork and Bottle Ltd

Notes to the Unaudited Financial Statements
Year Ended 29 February 2024

1

General information

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

The address of its registered office is:
Frog Pool Farm
Moorwood
Oakhill
Radstock
Somerset
BA3 5BN
United Kingdom

These financial statements were authorised for issue by the director on 25 October 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 due to the ongoing support of the director. No repayments of the directors loan account will take place for the forseeable future.

Revenue recognition

Turnover comprises the fair value of the consideration received for the sale of goods in the ordinary course of the company’s activities and is shown net of value added tax.

 

Cork and Bottle Ltd

Notes to the Unaudited Financial Statements
Year Ended 29 February 2024

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:

Asset class

Depreciation method and rate

Fixtures & fittings

20% per annum straight line

Plant and machinery

20% per annum straight line

Office equipment

Trade debtors

Trade debtors are amounts due from customers for sales made in the ordinary course of business and are recognised at the transaction price.

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. 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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Cork and Bottle Ltd

Notes to the Unaudited Financial Statements
Year Ended 29 February 2024

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 36 (2023 - 40).

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Total
£

Cost or valuation

At 1 March 2023

376,255

123,958

-

500,213

Additions

5,498

38,913

1,998

46,409

Disposals

(2,807)

(4,815)

-

(7,622)

At 29 February 2024

378,946

158,056

1,998

539,000

Depreciation

At 1 March 2023

369,531

110,002

-

479,533

Charge for the year

3,244

14,410

402

18,056

Eliminated on disposal

(2,807)

(4,814)

-

(7,621)

At 29 February 2024

369,968

119,598

402

489,968

Carrying amount

At 29 February 2024

8,978

38,458

1,596

49,032

At 28 February 2023

6,724

13,956

-

20,680

5

Stocks

2024
£

2023
£

Other inventories

24,105

20,680

 

Cork and Bottle Ltd

Notes to the Unaudited Financial Statements
Year Ended 29 February 2024

6

Debtors

2024
£

2023
£

Trade debtors

9,358

7,315

Prepayments

13,557

-

22,915

7,315

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

64,447

33,105

Taxation and social security

45,427

56,560

Accruals and deferred income

1,650

1,575

Other creditors

105,053

5,177

216,577

96,417

Creditors: amounts falling due after more than one year

2024
£

2023
£

Due after one year

Loans and borrowings

495,325

789,575