Acorah Software Products - Accounts Production 16.0.110 false true 31 May 2023 1 June 2022 false 1 June 2023 31 May 2024 31 May 2024 10118532 Mr Paresh Hirji Kerai Mrs Asmita Varsani Mr Pakesh Kerai & Mrs Asmita Varsani true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10118532 2023-05-31 10118532 2024-05-31 10118532 2023-06-01 2024-05-31 10118532 frs-core:Non-currentFinancialInstruments 2024-05-31 10118532 frs-core:FurnitureFittings 2023-06-01 2024-05-31 10118532 frs-core:NetGoodwill 2023-06-01 2024-05-31 10118532 frs-core:MotorVehicles 2023-06-01 2024-05-31 10118532 frs-core:ShareCapital 2024-05-31 10118532 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 10118532 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 10118532 frs-bus:AbridgedAccounts 2023-06-01 2024-05-31 10118532 frs-bus:SmallEntities 2023-06-01 2024-05-31 10118532 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 10118532 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 10118532 1 2023-06-01 2024-05-31 10118532 frs-bus:Director1 2023-06-01 2024-05-31 10118532 frs-bus:Director2 2023-06-01 2024-05-31 10118532 frs-countries:EnglandWales 2023-06-01 2024-05-31 10118532 2022-05-31 10118532 2023-05-31 10118532 2022-06-01 2023-05-31 10118532 frs-core:Non-currentFinancialInstruments 2023-05-31 10118532 frs-core:ShareCapital 2023-05-31 10118532 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31
Registered number: 10118532
Vintage Wines & Spirits Ltd
Unaudited ABRIDGED Financial Statements
For The Year Ended 31 May 2024
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—4
Page 1
Abridged Balance Sheet
Registered number: 10118532
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 200,000 205,000
Tangible Assets 5 11,874 15,274
211,874 220,274
CURRENT ASSETS
Stocks 81,386 96,121
Cash at bank and in hand 31,444 29,265
112,830 125,386
Creditors: Amounts Falling Due Within One Year (20,500 ) (25,449 )
NET CURRENT ASSETS (LIABILITIES) 92,330 99,937
TOTAL ASSETS LESS CURRENT LIABILITIES 304,204 320,211
Creditors: Amounts Falling Due After More Than One Year (301,105 ) (317,105 )
NET ASSETS 3,099 3,106
CAPITAL AND RESERVES
Called up share capital 6 100 100
Profit and Loss Account 2,999 3,006
SHAREHOLDERS' FUNDS 3,099 3,106
Page 1
Page 2
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 31 May 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr Paresh Hirji Kerai
Director
Mrs Asmita Varsani
Director
19/06/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Abridged Financial Statements
1. General Information
Vintage Wines & Spirits Ltd Registered number 10118532 is a limited by shares company incorporated in England & Wales. The Registered Office is 45-47 Rochdale Road, Royton, Oldham, OL2 5PT.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account at 2% straight line basis.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 25% WDV
Fixtures & Fittings 20% WDV
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
2.7. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Sales, marketing and distribution 6 7
6 7
Page 3
Page 4
4. Intangible Assets
Total
£
Cost
As at 1 June 2023 250,000
As at 31 May 2024 250,000
Amortisation
As at 1 June 2023 45,000
Provided during the period 5,000
As at 31 May 2024 50,000
Net Book Value
As at 31 May 2024 200,000
As at 1 June 2023 205,000
5. Tangible Assets
Total
£
Cost
As at 1 June 2023 59,055
As at 31 May 2024 59,055
Depreciation
As at 1 June 2023 43,781
Provided during the period 3,400
As at 31 May 2024 47,181
Net Book Value
As at 31 May 2024 11,874
As at 1 June 2023 15,274
6. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
7. Ultimate Controlling Party
The company's ultimate controlling party is Mr Pakesh Kerai & Mrs Asmita Varsani by virtue of thier ownership of 100% of the issued share capital in the company.
Page 4