Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-292024-02-29true2023-03-01falseNo description of principal activity54trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 06778064 2023-03-01 2024-02-29 06778064 2022-03-01 2023-02-28 06778064 2024-02-29 06778064 2023-02-28 06778064 c:Director1 2023-03-01 2024-02-29 06778064 c:Director2 2023-03-01 2024-02-29 06778064 d:FurnitureFittings 2023-03-01 2024-02-29 06778064 d:FurnitureFittings 2024-02-29 06778064 d:FurnitureFittings 2023-02-28 06778064 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 06778064 d:CurrentFinancialInstruments 2024-02-29 06778064 d:CurrentFinancialInstruments 2023-02-28 06778064 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 06778064 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 06778064 d:ShareCapital 2024-02-29 06778064 d:ShareCapital 2023-02-28 06778064 d:RetainedEarningsAccumulatedLosses 2024-02-29 06778064 d:RetainedEarningsAccumulatedLosses 2023-02-28 06778064 c:FRS102 2023-03-01 2024-02-29 06778064 c:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 06778064 c:FullAccounts 2023-03-01 2024-02-29 06778064 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 06778064 d:AcceleratedTaxDepreciationDeferredTax 2024-02-29 06778064 d:AcceleratedTaxDepreciationDeferredTax 2023-02-28 iso4217:GBP xbrli:pure
Registered number: 06778064






HILLTOP WINES LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024










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HILLTOP WINES LIMITED
REGISTERED NUMBER:06778064

BALANCE SHEET
AS AT 29 FEBRUARY 2024

29 February
28 February
2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
3,311
2,876

  
3,311
2,876

Current assets
  

Debtors: amounts falling due within one year
 5 
75,559
68,865

Cash at bank and in hand
 6 
53,656
70,719

  
129,215
139,584

Creditors: amounts falling due within one year
 7 
(19,986)
(29,469)

Net current assets
  
 
 
109,229
 
 
110,115

Total assets less current liabilities
  
112,540
112,991

Provisions for liabilities
  

Deferred tax
 8 
(811)
(474)

  
 
 
(811)
 
 
(474)

Net assets
  
111,729
112,517


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
111,629
112,417

  
111,729
112,517


Page 1

 
HILLTOP WINES LIMITED
REGISTERED NUMBER:06778064
    
BALANCE SHEET (CONTINUED)
AS AT 29 FEBRUARY 2024

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




M Coveney
C Coveney
Director
Director


Date: 10 November 2024

Page 2

 
HILLTOP WINES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.


General information

Hilltop Wines Limited is a private company limited by shares, incorporated in England and Wales. Its registered office is C/O Venthams Limited, Unit 8, Phoenix House, Redhill Aerodrome, Kings Mill Lane, Redhill, Surrey, RH1 5JY.
The principal activity of the company continued to be that of wine agents.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
HILLTOP WINES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.4

Operating leases: the company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the company in independently administered funds.

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 4

 
HILLTOP WINES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures & fittings
-
33% Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.11

Provisions for liabilities

Provisions are made where an event has taken place that gives the company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance Sheet.

Page 5

 
HILLTOP WINES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.12

Financial instruments

The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the company's Balance Sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.13

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 5 (2023 -4).

Page 6

 
HILLTOP WINES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

4.


Tangible fixed assets







Fixtures & fittings

£



Cost or valuation


At 1 March 2023
46,855


Additions
2,289



At 29 February 2024

49,144



Depreciation


At 1 March 2023
43,979


Charge for the year on owned assets
1,854



At 29 February 2024

45,833



Net book value



At 29 February 2024
3,311



At 28 February 2023
2,876

Page 7

 
HILLTOP WINES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

5.


Debtors

29 February
28 February
2024
2023
£
£


Trade debtors
72,229
68,192

Other debtors
2,769
209

Prepayments and accrued income
561
464

75,559
68,865



6.


Cash and cash equivalents

29 February
28 February
2024
2023
£
£

Cash at bank and in hand
53,656
70,719

53,656
70,719



7.


Creditors: Amounts falling due within one year

29 February
28 February
2024
2023
£
£

Trade creditors
325
595

Other taxation and social security
13,804
12,016

Other creditors
3,557
14,558

Accruals and deferred income
2,300
2,300

19,986
29,469


Page 8

 
HILLTOP WINES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

8.


Deferred taxation






2024


£






At beginning of year
(474)


Utilised in year
(337)



At end of year
(811)

The provision for deferred taxation is made up as follows:

29 February
28 February
2024
2023
£
£


Accelerated capital allowances
(811)
(474)

(811)
(474)


9.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £120,000 (2023: £120,000). 

 
Page 9