Great Wine Online Limited 09865051 false 2023-03-01 2024-02-29 2024-02-29 The principal activity of the company is sale of wine. Digita Accounts Production Advanced 6.30.9574.0 true 09865051 2023-03-01 2024-02-29 09865051 2024-02-29 09865051 bus:OrdinaryShareClass1 2024-02-29 09865051 core:CurrentFinancialInstruments 2024-02-29 09865051 core:CurrentFinancialInstruments core:WithinOneYear 2024-02-29 09865051 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-02-29 09865051 bus:SmallEntities 2023-03-01 2024-02-29 09865051 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 09865051 bus:FullAccounts 2023-03-01 2024-02-29 09865051 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 09865051 bus:RegisteredOffice 2023-03-01 2024-02-29 09865051 bus:CompanySecretaryDirector1 2023-03-01 2024-02-29 09865051 bus:Director1 2023-03-01 2024-02-29 09865051 bus:OrdinaryShareClass1 2023-03-01 2024-02-29 09865051 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 09865051 core:IntangibleAssetsOtherThanGoodwill 2023-03-01 2024-02-29 09865051 countries:England 2023-03-01 2024-02-29 09865051 2023-02-28 09865051 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-02-28 09865051 2022-03-01 2023-02-28 09865051 2023-02-28 09865051 bus:OrdinaryShareClass1 2023-02-28 09865051 core:CurrentFinancialInstruments 2023-02-28 09865051 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 09865051

Great Wine Online Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 29 February 2024

 

Great Wine Online Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Great Wine Online Limited

Company Information

Directors

Mr E Cameron

Ms P Heyes

Company secretary

Ms P Heyes

Registered office

Bay Tree Cottage
11 Red Lion Way
Wooburn Green
Buckinghamshire
HP10 0HT

Accountants

Ross McConnell
Chartered Accountant
3 High Street
Kinross
KY13 8AW

 

Great Wine Online Limited

(Registration number: 09865051)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Current assets

 

Debtors

5

-

20

Cash at bank and in hand

 

71

3

 

71

23

Creditors: Amounts falling due within one year

6

(35,345)

(31,177)

Net liabilities

 

(35,274)

(31,154)

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

(35,374)

(31,254)

Shareholders' deficit

 

(35,274)

(31,154)

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.

Directors' 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 directors acknowledge their 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 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 29 November 2024 and signed on its behalf by:
 

 

Great Wine Online Limited

(Registration number: 09865051)
Balance Sheet as at 29 February 2024

.........................................
Mr E Cameron
Director

.........................................
Ms P Heyes
Company secretary and director

 

Great Wine Online Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

1

General information

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

The address of its registered office is:
Bay Tree Cottage
11 Red Lion Way
Wooburn Green
Buckinghamshire
HP10 0HT

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Website

33.33% straight line

 

Great Wine Online Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2023 - 1).

 

Great Wine Online Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

4

Intangible assets

Other intangible assets
 £

Total
£

Cost or valuation

At 1 March 2023

3,500

3,500

At 29 February 2024

3,500

3,500

Amortisation

At 1 March 2023

3,500

3,500

At 29 February 2024

3,500

3,500

Carrying amount

At 29 February 2024

-

-

5

Debtors

Current

2024
£

2023
£

Trade debtors

-

20

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Directors' current account

30,276

26,678

Trade creditors

 

810

-

Taxation and social security

 

759

999

Accruals and deferred income

 

600

600

Other creditors

 

2,900

2,900

 

35,345

31,177

 

Great Wine Online Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

7

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary of £1 each

100

100

100

100