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Company Registration No. 03619247 (England and Wales)
CLASSIC WINES LTD Unaudited accounts for the year ended 31 March 2024
CLASSIC WINES LTD Unaudited accounts Contents
Page
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CLASSIC WINES LTD Company Information for the year ended 31 March 2024
Director
Jennifer Holmes
Company Number
03619247 (England and Wales)
Registered Office
17 TAY CLOSE OAKHAM LE15 6JR ENGLAND
Accountants
Taxez 5 South Charlotte Street Edinburgh EH2 4AN
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CLASSIC WINES LTD Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Investment property
264,479 
264,479 
Current assets
Debtors
10,000 
- 
Cash at bank and in hand
60,463 
74,895 
70,463 
74,895 
Creditors: amounts falling due within one year
(9,041)
(8,798)
Net current assets
61,422 
66,097 
Total assets less current liabilities
325,901 
330,576 
Creditors: amounts falling due after more than one year
(317,106)
(325,864)
Net assets
8,795 
4,712 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
8,794 
4,711 
Shareholders' funds
8,795 
4,712 
For the year ending 31 March 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 director acknowledges her 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 19 December 2024 and were signed on its behalf by
Jennifer Holmes Director Company Registration No. 03619247
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CLASSIC WINES LTD Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
CLASSIC WINES LTD is a private company, limited by shares, registered in England and Wales, registration number 03619247. The registered office is 17 TAY CLOSE, OAKHAM, LE15 6JR, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
4
Investment property
2024 
£ 
Fair value at 1 April 2023
264,479 
At 31 March 2024
264,479 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Other debtors
10,000 
- 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
7,724 
7,724 
Taxes and social security
958 
715 
Accruals
359 
359 
9,041 
8,798 
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CLASSIC WINES LTD Notes to the Accounts for the year ended 31 March 2024
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
107,600 
111,632 
Other creditors
209,506 
214,232 
317,106 
325,864 
8
Average number of employees
During the year the average number of employees was 1 (2023: 1).
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